1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
Should You Be Investing in Gold?
In India, gold has been a traditional form of investment for generations, and often holds sentimental…
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…
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.…
5 min read
5 Hidden Credit Card Charges That You Should Know About
Credit cards can be powerful financial tools when used strategically. However, hidden fees can accumulate rapidly,…
The Treasures We Hold Close
How do you ascribe value to an object? Is it how much money it cost? Or…
How We’re Keeping Your Data Safe
There’s growing discourse around data privacy and security across the world — and for good reason.…
It Gets Worse Before It Gets Better
It was a grim evening. I was reading and re-reading a piece of text that I…
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.…
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…
The Sweet Relief of Being Financially Literate
I sit sweating uncomfortably in our living room on a humid Goa morning, halfway through a…
2 min read
What is Tier 2 NPS?
Tier 2 NPS is a voluntary savings account that offers flexibility in withdrawals, unlike the Tier…
What Do You Teach Your Child About Money?
During our childhood in Ranchi in the 1990s, my elder brother Pranay and I once spent…
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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.
