1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
Difference Between Belated ITR and Revised ITR
Introduction While most people around you might have successfully filed their Income Tax Returns for the…
3 min read
How to File Income Tax Return Online?
Introduction Whether you’re a salaried individual or a self-employed businessperson, the Indian Income Tax Act, 1961,…
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…
3 min read
Mastering Personal Loans: Your Ultimate Guide to Financial Flexibility and Smart Borrowing | Temperament by 1 Finance
In an era where financial flexibility is more important than ever, personal loans emerge as the…
4 min read
Jio Financial Services and BlackRock Join Hands: A Game-Changing Inflection Point in India’s Asset Management Industry
Jio Financial Services collaborates with BlackRock, marking a transformative moment in India's asset management landscape. This…
2 min read
What is Mutual Fund Scoring and Ranking?
Investing in mutual funds can be a complex endeavour given the multitude of options available. To…
3 min read
Beyond Traditional Pensions: Exploring Modern Retirement Planning Alternatives
This blog explores modern alternatives to traditional pensions for retirement planning in India, emphasizing diversification and…
5 min read
What is LTCG? How to save long-term capital gain tax on stocks, mutual funds, property
When you sell a capital asset and make a profit, you may have to pay capital…
4 min read
Secure Your Legacy A Comprehensive Guide to Drafting a Will
Navigate the complexities of estate planning with our comprehensive guide on drafting a will in India;…
3 min read
Decoding a Will for a retail customer with the right questions
The discussion of “making a will” brings images of heavy paperwork, legal jargon, lawyers, hefty fees,…
7 min read
Your Path to Informed Mutual Fund Investment
1 Finance steps in to simplify this intricate landscape. We believe in empowering investors with the…
10 min read
How to Manage Your FDs, Loans, Equities, and Real Estate After the RBI Repo Rate Cut of 25 Bps
The Reserve Bank of India has cut the repo rate by 25 basis points once again,…
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.
