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How Imposter Syndrome Sneaks Up on Your Finances
Call it a bias, a pattern or a habit, but at its most basic level, imposter…
What to Keep in Mind While Building Your Financial Plan
Financial wellness — which means ensuring that your finances are in line with your financial circumstances…
4 min read
Key Financial Lessons from History to Protect Your Money in 2025
The global economy has faced multiple financial crises—each one offering valuable lessons. From India’s 1991 Balance…
If I’m Doing Well, Do I Still Need to Grow My Wealth?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
3 min read
The Importance of Liability Insurance for Personal Finance
This post discusses the importance of liability insurance in personal finance, highlighting its role in shielding…
4 min read
Safeguarding Your Wealth for Future Generations: The Significance of Estate Planning and Liability
This post emphasizes the role of estate planning and liability in wealth management and securing a…
How Tech Makes Splitting Bills Easier
a nice time and eaten your fill. Then the bill reaches the table, and suddenly, there’s…
5 min read
What is Fund of Funds? Know the Types, Advantages and Disadvantages of FOFs
Investors looking for diversification often come across the term Fund of Funds (FoF). But what is…
4 min read
The Significance of Critical Illness Insurance in India: Shielding Your Financial Future
Explore Critical Illness Insurance in India: its role, benefits, limitations, and tips for selection.
So You Like Art — But Should You Invest in It?
In March 2021, Mike Winkelmann, better known as Beeple, sold his work Everydays: The First 5000…
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…
3 min read
How Does Capital Gain/Loss Harvesting Help You Save Taxes?
Delve into the strategy of Tax Loss Harvesting with us, uncovering how savvy investors leverage capital…
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.
