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4 min read
Navigating Money Matters in a Relationship
“In our home, all talk begins and ends with money,” Sarita complains to a concerned neighbour…
4 min read
What are Index Funds? Types, Benefits and Limitations
Index funds are investment vehicles designed to track the performance of a specific market index, such…
3 min read
Why You Should Consider Refinancing Your Debt
Debt refinancing refers to the exercise of reorganising your debt by replacing your existing loan with…
3 min read
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…
4 min read
Is It Possible to Avoid Tax on Long-Term Capital Gains?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
5 min read
Financial Learnings We’re Carrying into 2023
Ushering in a new year comes with its fair share of reflection on the past, and…
3 min read
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…
3 min read
When and Why Should I Get a Credit Card?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
3 min read
Estate Planning: A Guide to Leaving a Legacy, Not a Mess | Temperament by 1 Finance
In the world of financial planning, the conversation often revolves around wealth accumulation and management. However,…
3 min read
Is Market Risk All You Need to Consider While Investing?
“Mutual fund investments are subject to market risks, read all scheme-related documents carefully.” This all-too familiar…
Do I Need to Take More Risks to Earn High Rewards?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
3 min read
ETFs vs. Index Funds: What’s the Difference and Which One is Right for You?
If you’re looking for a way to invest in the stock market without having to pick…
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.
