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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…
3 min read
The Importance of Liability Insurance for Personal Finance
This post discusses the importance of liability insurance in personal finance, highlighting its role in shielding…
3 min read
Looking Back: A Personal Finance Report Card for 2022
A market crash, rising inflation, a devastating war, and respite from lockdowns amid an ongoing pandemic.…
5 min read
What Do You Do to Feel Less Anxious About Money?
We all feel it. Anxiety, insecurity and worry about money are common, at every stage of…
4 min read
How Do You Grow an Inheritance into a Business?
Money is incredibly interesting — it comes, it goes, it grows and it talks. I spent…
2 min read
Navigating P2P Lending in India: A Guide to Smart Investments
Peer-to-peer (P2P) lending has emerged as a popular alternative investment avenue in India, offering individuals the…
4 min read
If I’m Doing Well, Do I Still Need to Grow My Wealth?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
5 min read
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,…
3 min read
World’s longest coffee break: Retirement
Retirement—a word that often conjures images of winding down, but in reality, it marks the beginning…
4 min read
How We’re Keeping Your Data Safe
There’s growing discourse around data privacy and security across the world — and for good reason.…
4 min read
The True Story That Inspired Our Ad Film
If you’ve watched the 1 Finance ad film or found us through it — welcome on…
3 min read
Harnessing Financial Security with Joint Life Term Insurance in India
Introduction In the pursuit of financial well-being, individuals often seek comprehensive solutions to safeguard their loved…
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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.
