1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
Liabilities: Overlooked, Misunderstood, and Mismanaged
What comes to mind when you think about liabilities? Is it visions of overdue bills, crushing…
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…
Is It Too Late to Course-Correct My Finances in My 50s?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
3 min read
Revolutionising Insurance with AI: Insights from Industry Leaders | Temperament by 1 Finance
The integration of Artificial Intelligence (AI) into the insurance sector marks a pivotal shift, promising to…
How Does Getting Married Affect My Finances?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
Why You Should Consider Refinancing Your Debt
Debt refinancing refers to the exercise of reorganising your debt by replacing your existing loan with…
Is Market Risk All You Need to Consider While Investing?
“Mutual fund investments are subject to market risks, read all scheme-related documents carefully.” This all-too familiar…
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…
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…
The Sweet Relief of Being Financially Literate
I sit sweating uncomfortably in our living room on a humid Goa morning, halfway through a…
How Reactive Purchases Impact Our Carbon Footprint
It all began with a dressing gown. Like what you're reading? Get our latest, straight to…
How Exchange-Traded Funds Can Add to Your Portfolio
Exchange-traded funds, or ETFs, are investment funds that track the performance of an index, commodity, sector,…
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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.
