1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
Managing Economic Cycles: A Comprehensive Guide Through Ups and Downs | Temperament by 1 Finance
Economic cycles, with their inevitable rises and falls, shape the financial landscape we navigate daily. Understanding…
3 min read
World’s longest coffee break: Retirement
Retirement—a word that often conjures images of winding down, but in reality, it marks the beginning…
Lessons from the Pandemic, by India’s Leading Food Entrepreneurs
The lockdowns were undoubtedly hard on business owners and entrepreneurs across industries. But a sector that…
How Do I Set Up an Emergency Fund?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
Navigating Money Matters in a Relationship
“In our home, all talk begins and ends with money,” Sarita complains to a concerned neighbour…
Looking Back: A Personal Finance Report Card for 2022
A market crash, rising inflation, a devastating war, and respite from lockdowns amid an ongoing pandemic.…
3 min read
3 Essential Questions You Need to Ask Your Insurance Advisor
When it comes to insurance, it’s not just about picking a policy and paying the premiums—it’s…
7 min read
Understanding Cancer Insurance: A Shield Against Uncertainty
In today’s world, health concerns are ever-present, with cancer being one of the most dreaded diagnoses.…
Why You Should Consider Refinancing Your Debt
Debt refinancing refers to the exercise of reorganising your debt by replacing your existing loan with…
One on One with a Bat Biologist
Welcome to our very first edition of One on One, an exclusive series of leisurely interviews…
Why We’ve Set Up a Committee for Qualified Financial Advisors
As a financial institution, we think of 1 Finance as a place that takes care of…
Why Everyone Stands to Benefit from Estate Planning
When we speak of estate planning, what comes to mind is that it is a complex…
Discover your MoneySign®
Identify the personality traits and behavioural patterns that shape your financial choices.
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.
