1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
Don’t Start 2025 Without Answering These 5 Financial Questions
The end of the year is a natural time for reflection and planning. We think about…
6 min read
A Beginner’s Guide to Evaluating Mutual Funds
Are you new to investing in mutual funds? This beginner's guide will teach you how to…
6 min read
Understanding the Role of Stablecoins in the Crypto Market
Explore the dynamic role of stablecoins in the crypto market as they bridge the gap between…
7 min read
How Do We Evaluate Credit Cards: A Comprehensive Evaluation Guide
The vast variety of credit cards often raises a pertinent question: How many is too many?…
5 min read
Types of Retirement Plans in India
Retirement planning is one of the most significant financial decisions you’ll make in your life. It’s…
4 min read
Tax-Loss Harvesting for FY2024-25: How to Set Off Loss from Stocks, Mutual Fund and Save Tax
Tax-loss harvesting is a financial strategy in which you sell investments at a loss and use…
3 min read
Charting Your Financial Future: Mastering the Art of Goal Setting | Temperament by 1 Finance
The world of personal finance is often seen as daunting and complex. However, understanding and effectively…
6 min read
6 Factors to consider before Choosing Term Insurance
Life and Health Protection are the major two areas to look for in insurance planning; Life…
5 min read
Maximizing Credit Card Rewards: A Comprehensive Guide
Unlock the secrets of maximizing credit card rewards. Learn about cashbacks, reward points, and more. Make…
5 min read
A Unique Proposition of NFTs
Exploring the world of Non-Fungible Tokens (NFTs), this blog delves into their unique proposition in the…
3 min read
What Are Essential Safety Measures for Beginner Crypto Investors?
Embark on your cryptocurrency journey in India with our comprehensive guide, providing key safety tips and…
3 min read
Succession Certificate vs. Legal Heir Certificate: Understanding the Difference
When a person passes away without a will, transferring their movable and immovable assets can become…
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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.
