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

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…

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…

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…

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…

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…

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…

Will and estate planning: How to smoothly transfer your legacy 

Estate Planning

4 min read

Will and estate planning: How to smoothly transfer your legacy 

Estate planning might sound like something only the high-net-worth individuals or ultra-high-net-worth individuals worry about, but…

Tax Season : Aligning Insurance Choices with Holistic Financial Wellbeing

Insurance

5 min read

Tax Season : Aligning Insurance Choices with Holistic Financial Wellbeing

As we approach tax season, it is imperative to consider the critical link between tax planning,…

Why We Created a Commission Analyser for Insurance Policies

Insurance

3 min read

Why We Created a Commission Analyser for Insurance Policies

Among the issues that plague India’s personal finance advisory space, the mis-selling of financial products that…

Boosting Your Credit Score with Timely Credit Card Repayment

Credit cards blogs

3 min read

Boosting Your Credit Score with Timely Credit Card Repayment

This blog examines the link between disciplined credit card usage and improving credit scores, offering practical…

How to Choose Best Tax Regime For You | Old Tax Regime Vs New Tax Regime

Tax Planning

5 min read

How to Choose Best Tax Regime For You | Old Tax Regime Vs New Tax Regime

This blog post compares India's old and new tax regimes, discussing their effects on taxes and…

Understanding secured credit cards in India: A simple, complete guide

Credit cards blogs

5 min read

Understanding secured credit cards in India: A simple, complete guide

Secured credit card can be an easy way to credit world, but is it worth it?

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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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