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Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
The Psychology of Debt: Navigating the Emotional Labyrinth | Temperament by 1 Finance
In an era where financial decisions are deeply intertwined with emotional responses, the psychological aspects of…
Saved Money, Will Travel
The Irish call it a Claddagh ring. It’s a pretty ring: two hands clasping a heart,…
7 min read
When the Sky Falls: What to Do Amidst Financial Turbulence
In case you have watched the TVF record-making series ‘Sapne vs Everyone,’ you must remember episode…
How to Invest to Combat Inflation
Inflation is a pervasive but regular economic occurrence that weakens purchasing power. It causes concern among…
The Tricky Ease of Buy Now, Pay Later Schemes
In a time when the accumulation of commodities has become the norm, it’s easy to believe…
Should You Be Investing in Gold?
In India, gold has been a traditional form of investment for generations, and often holds sentimental…
3 min read
Managing Economic Cycles: A Comprehensive Guide Through Ups and Downs | Temperament by 1 Finance
Economic cycles, with their inevitable rises and falls, shape the financial landscape we navigate daily. Understanding…
The Treasures We Hold Close
How do you ascribe value to an object? Is it how much money it cost? Or…
It Gets Worse Before It Gets Better
It was a grim evening. I was reading and re-reading a piece of text that I…
How Exchange-Traded Funds Can Add to Your Portfolio
Exchange-traded funds, or ETFs, are investment funds that track the performance of an index, commodity, sector,…
Empowering Finances: Exploring the Dynamics of Peer-to-Peer Lending
For centuries, getting a loan meant begging your bank manager or relying on family and friends.…
How Does Getting Married Affect My Finances?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
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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.
