1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
Direct Vs Regular Mutual Funds: What Shall You Opt?
Deciding between Direct Vs Regular Mutual Funds is one of the first dilemmas that new investors…
5 min read
Maximizing Credit Card Rewards: A Comprehensive Guide
Unlock the secrets of maximizing credit card rewards. Learn about cashbacks, reward points, and more. Make…
4 min read
Term Life Insurance: To Buy Early or Wait?
Like what you're reading? Get our latest, straight to your inbox. Subscribe to our newsletter…
7 min read
How Do We Evaluate Credit Cards: A Comprehensive Evaluation Guide
The vast variety of credit cards often raises a pertinent question: How many is too many?…
5 min read
Types of Retirement Plans in India
Retirement planning is one of the most significant financial decisions you’ll make in your life. It’s…
4 min read
13 Income Tax Rule Changes in 2024 That Will Impact Your ITR Filing in 2025
The income tax reforms announced in 2024 have introduced a range of updates that will influence…
5 min read
P2P Lending in 2025: The Future of Alternative Financing
Peer-to-peer (P2P) lending has undergone a significant transformation since its inception in the mid-2000s. Fast-forward to…
5 min read
A Unique Proposition of NFTs
Exploring the world of Non-Fungible Tokens (NFTs), this blog delves into their unique proposition in the…
5 min read
The Intersection of Insurance and Risk Management: Your Guide to Financial Security
In today’s fast-paced world, managing risk is more important than ever. Whether you’re protecting your family’s…
5 min read
Taxation for Freelancers and consultants
Unlike salaried individuals, freelancers and consultants often find it more complex to understand taxation requirements and…
6 min read
6 Factors to consider before Choosing Term Insurance
Life and Health Protection are the major two areas to look for in insurance planning; Life…
3 min read
Charting Your Financial Future: Mastering the Art of Goal Setting | Temperament by 1 Finance
The world of personal finance is often seen as daunting and complex. However, understanding and effectively…
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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.
