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

Transparency and Accountability in Peer-to-Peer Lending: The Role of NBFC-P2Ps

Peer to Peer lending (P2P)

3 min read

Transparency and Accountability in Peer-to-Peer Lending: The Role of NBFC-P2Ps

Peer-to-Peer (P2P) lending has emerged as a popular alternative to traditional banking, offering individuals and businesses…

Income Tax Notices for Salaried Individuals: Dos and Don’ts to Stay Compliant

Tax Planning

5 min read

Income Tax Notices for Salaried Individuals: Dos and Don’ts to Stay Compliant

Navigate the complexities of income tax returns with our guide on how to avoid tax notices,…

How Imposter Syndrome Sneaks Up on Your Finances

Behavioural Finance

4 min read

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 Are Charge Cards? How is it Different From Credit Cards?

Credit cards blogs

3 min read

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…

Mastering Tax Season: Essential Preparation for ITR Filing

ITR Filing

3 min read

Mastering Tax Season: Essential Preparation for ITR Filing

As the tax filing season approaches, it’s crucial to prepare for filing your Income Tax Return…

Does Movement on the Stock Market Make Us Anxious?

Personal Finance

3 min read

Does Movement on the Stock Market Make Us Anxious?

There’s a scene in The Wolf of Wall Street where Matthew McConaughey’s character gives Leonardo DiCaprio’s…

Safeguarding Investments: What Happens When a P2P Lending Platform Shuts Down in India?

Peer to Peer lending (P2P)

2 min read

Safeguarding Investments: What Happens When a P2P Lending Platform Shuts Down in India?

In recent years, Peer-to-Peer (P2P) lending platforms have gained significant traction in India as a popular…

Navigating the Future: Comprehensive Retirement Planning for Indian Parents | Temperament by 1 Finance

Temperament

4 min read

Navigating the Future: Comprehensive Retirement Planning for Indian Parents | Temperament by 1 Finance

India is on the brink of a profound demographic shift, transitioning towards an ageing society with…

How to avoid costly mutual fund SIP mistakes that wipe out your wealth

Mutual Fund

9 min read

How to avoid costly mutual fund SIP mistakes that wipe out your wealth

With SIP stoppage ratios hitting 70%, mutual fund investors are accidentally sabotaging their future; here’s how…

Types of Mutual Funds: What Are Different Types of Mutual Funds, How They Differ, and How to Invest in Them

Investing

5 min read

Types of Mutual Funds: What Are Different Types of Mutual Funds, How They Differ, and How to Invest in Them

The Indian mutual fund industry has witnessed exponential growth over the past decade. As of December…

The Role of Financial Professional Coach in Your Retirement

Retirement Planning

3 min read

The Role of Financial Professional Coach in Your Retirement

While navigating the intricacies of retirement planning, it’s essential to recognize the value of seeking expert…

What is Fund of Funds? Know the Types, Advantages and Disadvantages of FOFs

Personal Finance

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…

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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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