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What You Need to Create a Safety Net
We’ve often heard the adage that it is prudent to set aside some money ‘for a…
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…
Looking Back: A Personal Finance Report Card for 2022
A market crash, rising inflation, a devastating war, and respite from lockdowns amid an ongoing pandemic.…
Who Do You Trust to Give You Financial Advice?
It appears that everyone is talking about personal finance — watching ads during a cricket game…
4 min read
Investment Alone is Not Financial Planning. Know What Financial Planning Truly is!
Many people assume that investing money is the key to financial success. They focus on stocks,…
What Are Charge Cards? How is it Different From Credit Cards?
Charge cards are a type of payment card that offer financial flexibility similar to credit cards…
The Values Behind Our Brand Identity
We know that a lot goes into building a brand — after all, it’s not just…
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…
How to Spot Mis-Selling at the Financial Year-End
Financial year end often brings with it a flood of offers, promotions, and investment opportunities. While…
How Do You Grow an Inheritance into a Business?
Money is incredibly interesting — it comes, it goes, it grows and it talks. I spent…
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.…
The Benefits of Being a Budget Bride
When I was 27, my salary account had a monthly cycle. Full on the first, inexplicably…
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.
