1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
Empowering Women in Finance: Beyond Stereotypes to Strength | Temperament by 1 Finance
In a world where financial empowerment is associated with independence, the journey to close the gender…
3 min read
PMS or Mutual Funds: Where Does an Unfair Advantage Lie?
When it comes to wealth creation, investors often find themselves choosing between Portfolio Management Services (PMS)…
4 min read
Is Buying a Home a Good Investment?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
Alternative Investments to Fixed Deposits as FD Interest Rates Begin to Drop
Banks have started reducing interest rates on fixed deposits (FDs) since the Reserve Bank of India…
One on One with a Font Engineer
Kalapi Gajjar-Bordawekar has been working with fonts for about a decade. He is a typeface designer…
3 min read
Understanding Sector Funds: A Deep Dive into Niche Mutual Fund Investments
Explore the potential of sector funds as we demystify this overlooked, yet potent, category of mutual…
4 min read
Difference Between Multi-Cap and Flexi-Cap Funds: Which One Should You Choose?
As an investor, you must be looking for a mutual fund that does it all, capturing…
4 min read
Understanding Different Terms Related to Loans: A Comprehensive Guide
Navigating the world of loans can be complex, especially with the numerous terms and concepts involved.…
2 min read
Understanding CAGR and XIRR: Which One Should You Use to Calculate Investment Returns?
The objective of any investment is to generate returns, and while calculating the returns, investors come…
7 min read
How to Start an Investment Portfolio: A Step-by-Step Guide
Learn how to start your investment portfolio with our comprehensive step-by-step guide. Learn how to start…
2 min read
How to Compare Credit Cards using Scoring and Ranking Model
Choosing the right credit card can be a daunting task, given the plethora of options available…
What I Learnt from My Brief Stint with Stocks
My early memories of my father are inextricably linked to sound. As a toddler, it was…
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Frequently Asked Questions
What is financial planning?
Financial planning is the process of evaluating your current finances and making a plan to map your journey to financial well-being.
It involves looking at all aspects of your financial life - income, savings, debt, investments, etc.
The aim is to understand where you stand today financially and then chart a course to get you where you want to be in the long run.
Financial planning provides direction and structure to your finances. It helps you intentionally move toward financial wellness.
The plan equips you to prepare for expected life events like retirement as well as unexpected events.
In short, financial planning bridges your present circumstances to your desired financial future. It gives you a path to follow.
What are the benefits of working with a financial advisor?
Working with a financial advisor can provide an invaluable perspective on your current situation. With the help of a financial advisor, you can assess your finances holistically - debts, assets, income streams, and more. With this comprehensive understanding, the advisor helps craft strategies tailored to your needs.
A financial plan crafted by a qualified advisor grants you agency over your financial life. It transforms vague anxiety about the future into proactive preparation. With expert guidance, you can map out actionable steps to strengthen your finances over time.
Why is financial planning important?
Financial planning is important because it provides clarity and control over your finances.
Having a financial plan helps you:
- Understand where you stand financially today
- Map out specific steps to improve your financial situation
- Prepare for major life events like marriage, child’s education, retirement etc.
- Budget effectively and evaluate your investment portfolio
- Strategic Tax Planning & Filing
- Manage and reduce debt
- Being financially ready for emergencies
- Creating a will to preserve your legacy
In short, financial planning is essential for financial stability and peace of mind. It gives your finances direction and purpose. With proper planning, you can take charge of your money and build financial security.
