1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
Investing Showdown: Real Estate vs. Stocks – Where to Put Your Money?
Join us as we unpack the 'Real Estate vs. Stocks' dilemma for Indian investors, guiding you…
5 min read
Maximizing Tax Benefits on Medical Expenditures: Understanding Sections 80D, 80DD, and 80DDB
Introduction As individuals, we are all too familiar with the ever-increasing costs of medical expenses. Whether…
5 min read
How Can You Start Tax Filing in 2024?
Filing your Income Tax Return (ITR) in India can feel overwhelming, especially for first-timers. The complex…
4 min read
Exploring the Commercial Real Estate Terrain in India | “Temperament” by 1 Finance
In today’s dynamic world, commercial real estate investment in India stands as a booming sector, growing…
5 min read
How to File an Income Tax Return?
After the digitisation of the ITR request procedure, filing your ITR has become easier than ever.…
4 min read
Navigating the Claims Process: Tips for a Smooth Experience with Health Insurance in India
Navigating the claims process can be a daunting task for many individuals when it comes to…
5 min read
Importance of Liability Planning for Salaried Individuals
If you're a salaried individual, it's crucial to understand the importance of liability planning.
3 min read
How to Be Debt Free Without Compromising Retirement
In today’s fast-paced world, especially in India, people of all ages, particularly young adults, are turning…
4 min read
The Psychology of Wealth: Navigating Financial Success with Mindset Mastery | Temperament by 1 Finance
In a world increasingly focused on material wealth, understanding the psychological aspects of money is key…
4 min read
Hallmark of a Balanced Portfolio: How to Strike the Right Equilibrium
Let’s today understand what we mean by a balanced portfolio and why we need to have…
4 min read
Tax Benefits for Senior Citizens: A Comprehensive Guide
Navigating complex income tax rules can be challenging, especially for individuals in the later stages of…
5 min read
Portability in Health Insurance: Empowering Policyholders with Choice and Flexibility
Imagine you’re at a bustling train station, about to board a train to your next big…
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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.
