1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
Why We’re Bad at Sticking to a Budget
It’s almost the end of the month and your credit card bill lands in your inbox.…
How Do I Set Up an Emergency Fund?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
2 min read
What is Tier 1 NPS?
NPS is divided into Tier 1 and Tier 2 accounts, each serving different investment purposes. Tier…
2 min read
What is Health Insurance Scoring and Ranking?
Choosing the right health insurance plan is crucial for safeguarding your financial well-being against unforeseen medical…
What Do You Teach Your Child About Money?
During our childhood in Ranchi in the 1990s, my elder brother Pranay and I once spent…
How We’re Keeping Your Data Safe
There’s growing discourse around data privacy and security across the world — and for good reason.…
The Sweet Relief of Being Financially Literate
I sit sweating uncomfortably in our living room on a humid Goa morning, halfway through a…
Making Sense of Money on the Therapist’s Couch
Ask him to help. You need the money. You don’t ask. Instead: panic, anxiety, irritable bowel…
Cold Wallets: The Gold Standard of Crypto Security
The cryptocurrency market continues to expand, bringing increased security concerns for investors. With cyber threats on…
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,…
3 min read
What is Term Insurance Scoring and Ranking Model?
Selecting the right term insurance plan is a critical step in securing your family’s financial future.…
Why You Should Consider Refinancing Your Debt
Debt refinancing refers to the exercise of reorganising your debt by replacing your existing loan with…
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.
