1 Finance Blog

Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.

The Benefits of Being a Budget Bride

4 min read

The Benefits of Being a Budget Bride

When I was 27, my salary account had a monthly cycle. Full on the first, inexplicably…

So You Like Art — But Should You Invest in It?

4 min read

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…

What Is An Emergency Fund? How Much Should Your Emergency Fund Be?

Personal Finance

4 min read

What Is An Emergency Fund? How Much Should Your Emergency Fund Be?

Most people in India are not financially prepared to tackle emergencies if they come up. From…

Navigating P2P Lending in India: A Guide to Smart Investments

P2P

2 min read

Navigating P2P Lending in India: A Guide to Smart Investments

Peer-to-peer (P2P) lending has emerged as a popular alternative investment avenue in India, offering individuals the…

Decoding Property Taxes: Expert Strategies for Indian Real Estate | Temperament by 1 Finance

Temperament

4 min read

Decoding Property Taxes: Expert Strategies for Indian Real Estate | Temperament by 1 Finance

Navigating the complex landscape of real estate taxation is more than just a necessity—it’s an art.…

Flexi-Cap Funds vs. Sector Funds: Which One Should You Choose?

Personal Finance

3 min read

Flexi-Cap Funds vs. Sector Funds: Which One Should You Choose?

Investing in mutual funds can be confusing, especially when deciding between flexi-cap funds and sector funds.…

How Do You Grow an Inheritance into a Business?

4 min read

How Do You Grow an Inheritance into a Business?

Money is incredibly interesting — it comes, it goes, it grows and it talks. I spent…

Navigating the Insurance Maze: A Guide to Risk Management and Financial Security | Temperament by 1 Finance

Temperament

3 min read

Navigating the Insurance Maze: A Guide to Risk Management and Financial Security | Temperament by 1 Finance

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Term Insurance Unveiled: Covered vs. Uncovered Causes of Death

Insurance

6 min read

Term Insurance Unveiled: Covered vs. Uncovered Causes of Death

In this blog, we will explore the diverse scenarios of death that term insurance policies in…

What Your Net Worth Tells Us About You

3 min read

What Your Net Worth Tells Us About You

Your net worth — i.e. your assets minus your liabilities — is by no means the sole…

Who Should Invest in NPS Balanced Life Cycle Fund?

NPS

2 min read

Who Should Invest in NPS Balanced Life Cycle Fund?

The National Pension System (NPS) offers different investment strategies to help individuals plan for their retirement.…

Safe Deposit Locker by 1 Finance: Unmatched Security, Access Available 7 Days a Week, No Investment Required

Personal Finance

3 min read

Safe Deposit Locker by 1 Finance: Unmatched Security, Access Available 7 Days a Week, No Investment Required

Important belongings such as legal documents, family jewelry, or personal keepsakes deserve more than just a…

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Frequently Asked Questions

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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.

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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.

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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.

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