1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
2 min read
From Clay Tablets to Plastic: The Evolutionary Journey of Credit Cards
This blog post traces the evolution of credit cards from ancient civilizations to the modern-day plastic…
Without a Home of My Own
Early in our lives, my husband and I had decided one thing: we would not live…
4 min read
Why are International ETFs Trading at a Premium? Understand the Concept of iNAV
There are investors out there who are strong believers in passive investing. And most of them…
6 min read
Trump’s ‘Kind Reciprocal’ Tariffs Prove Not So Kind to Market: What Should Indian Investors Do Now?
In a move described by President Donald Trump as a “Liberation Day” for American industries, the…
How Can I Financially Prepare for a Divorce?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
Home loan interest rate cut: Reduce EMI or home loan tenure, which option will save you more?
Since the recent repo rate cut of 50 basis points by the RBI, several banks have…
5 min read
Everything You Need to Know About Travel Insurance
As the holiday season approaches, millions of people are gearing up for memorable trips, whether it’s…
4 min read
Navigating the Future: Comprehensive Retirement Planning for Indian Parents | Temperament by 1 Finance
India is on the brink of a profound demographic shift, transitioning towards an ageing society with…
5 min read
Why Do You Need a Safe Deposit Locker?
There are things you can lose and not care much about. But there are some things…
3 min read
Understanding Trusts: A Comprehensive Guide to Managing Your Assets
Disclaimer: Formation of a trust and transfer of property into the same should not be done…
2 min read
What is Tier 1 NPS?
NPS is divided into Tier 1 and Tier 2 accounts, each serving different investment purposes. Tier…
4 min read
Navigating the Stock Market: Insights and Strategies for Meaningful Investing | Temperament by 1 Finance
In the intricate world of the stock market, where emotions and strategy collide, lies a realm…
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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.
