1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
- All
- New
- Mutual Fund
- Investing
- Loan Planning
- Retirement Planning
- Insurance
- Crypto
- Tax Planning
- Credit cards blogs
- Personal Finance
- Estate Planning
- Learn
- Behavioural Finance
- Temperament
- Peer to Peer lending (P2P)
- Scoring and Ranking
- Ask a QFA
- 1 Finance Core
- Personal Essays
- 1 Finance Editorials
- Real estate
- NPS
- ITR Filing
10 min read
Income Tax Slabs, Rates for FY2025-26, FY2024-25 Under the New Tax Regime and Old Tax Regime; Check How Much Tax You Have to Pay
Do you know which tax bracket you fall into for FY2024-25 or FY2025-26? You might feel…
6 min read
Income Tax on Income Earned Online in India
Unlock the secrets of navigating income tax on your online earnings in India with our comprehensive…
7 min read
Understanding the dynamics of Individual Vs Family Floater Health Insurance
Meet the Kumar family: Mr. Kumar, aged 45 years, Mrs. Kumar, a youthful 42 years, and…
3 min read
How to Change Nominee in NPS
The National Pension System (NPS) allows subscribers to designate a nominee who will receive the accumulated…
4 min read
How to Do Tax Harvesting for Mutual Fund Returns
Tax harvesting is a strategy used by investors to minimize their tax liabilities by offsetting gains…
4 min read
Received a Notice under Section 142(1)? Here’s what you need to know
It can be alarming to receive a notice from the Income Tax Department, but you can…
13 min read
Why Lifestyle-Based Financial Planning Matters
Have you ever wondered why some people breeze through life achieving financial goals, while you struggle…
7 min read
Understanding Good Vs Bad Liabilities
Gain a clear understanding of good vs bad liabilities with our comprehensive guide.
5 min read
Taxation for Freelancers and consultants
Unlike salaried individuals, freelancers and consultants often find it more complex to understand taxation requirements and…
4 min read
The Reality of Mumbai Realty
Mumbai, known as “Amchi Mumbai,” is a symbol of India’s strength and ambition. This lively city…
5 min read
Direct Vs Regular Mutual Funds: What Shall You Opt?
Deciding between Direct Vs Regular Mutual Funds is one of the first dilemmas that new investors…
5 min read
Introduction to Behavioural Finance: Decoding the Psychology of Financial Decision-Making
Behavioral finance explores how psychology and biases impact financial decision-making.
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.
