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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…
5 min read
5 Hidden Credit Card Charges That You Should Know About
Credit cards can be powerful financial tools when used strategically. However, hidden fees can accumulate rapidly,…
6 min read
How to choose your first credit card in 2025
Credit cards have quietly become a part of everyday life. What was once seen as a…
6 min read
Home loan interest rates drop in 2025: MCLR or Repo Linked Lending Rate, which one should you choose to lower your home loan EMIs?
Home loan interest rates have started to drop following a series of repo rate cuts by…
3 min read
Boosting Your Credit Score with Timely Credit Card Repayment
This blog examines the link between disciplined credit card usage and improving credit scores, offering practical…
5 min read
Income Tax and Rental Income: A Comprehensive Guide for Property Owners
Discover how income tax applies to rental income in our comprehensive guide for property owners, clarifying…
5 min read
Tax Season : Aligning Insurance Choices with Holistic Financial Wellbeing
As we approach tax season, it is imperative to consider the critical link between tax planning,…
5 min read
Why paying the credit card minimum amount due is a debt trap and how to get out of it?
You have a credit card with a bill of ₹30,000 due. Your billing cycle ends on…
4 min read
Understanding Hybrid Mutual Funds: Exploring Types and Benefits
Explore the versatility of Hybrid Mutual Funds, from their diverse categories to the benefits they bring…
3 min read
Mitigating Liability Risks: Protecting Your Home from Potential Hazards
This post explores liability risks associated with homeownership, offering strategies and real-life examples to help safeguard…
5 min read
The Basics of Financial Well-Being: What Does It Really Mean?
Unlock the true meaning of financial well-being as we delve into its key components, from budgeting…
3 min read
How to Get Out of Debt Trap by Managing Your Finances Well
In today’s fast-paced world, it’s easy to fall into the trap of accumulating debt beyond our…
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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.
