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3 min read
Engaging with finance through crosswords
Learning about finance doesn’t have to be dull. It can be engaging, interactive, and even game-like.…
2 min read
What is Tier 2 NPS?
Tier 2 NPS is a voluntary savings account that offers flexibility in withdrawals, unlike the Tier…
It Gets Worse Before It Gets Better
It was a grim evening. I was reading and re-reading a piece of text that I…
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 1 View Solves the Problem of Scattered Finances
Our intention with building 1 Finance, from Day One, has been to solve glaring issues with…
What Not To Do While Planning Your Taxes
Tax planning is an essential part of managing your finances, but it’s easy to make mistakes…
Why We’ve Set Up a Committee for Qualified Financial Advisors
As a financial institution, we think of 1 Finance as a place that takes care of…
Liabilities: Overlooked, Misunderstood, and Mismanaged
What comes to mind when you think about liabilities? Is it visions of overdue bills, crushing…
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…
Navigating Money Matters in a Relationship
“In our home, all talk begins and ends with money,” Sarita complains to a concerned neighbour…
2 min read
Should You Diversify Your Investments Beyond Nifty 50? Know What Should Be Your First Priority
The Nifty 50 Index has long been a popular investment choice for Indian investors, delivering an…
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.
