1 Finance Blog

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

ITR-1 (Sahaj) for FY 2024-25 (AY 2025-26): Key changes in ITR-1 form that taxpayers must know

ITR Filing

7 min read

ITR-1 (Sahaj) for FY 2024-25 (AY 2025-26): Key changes in ITR-1 form that taxpayers must know

ITR-1 changes in FY 2024-25: The Central Board of Direct Taxes (CBDT) has introduced significant changes…

ESOPs and Their Taxation

Tax Planning

6 min read

ESOPs and Their Taxation

As the startup ecosystem is growing in India, companies often offer ESOPs or similar compensation plans…

How to File Income Tax Return for Salaried Employees: A Step-by-step Guide

Tax Planning

5 min read

How to File Income Tax Return for Salaried Employees: A Step-by-step Guide

As if a tedious 9 to 5 taking a toll on you wasn’t enough, now you…

A Unique Proposition of NFTs

Crypto

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…

How to Get Rid of Credit Card Debt

Credit cards blogs

4 min read

How to Get Rid of Credit Card Debt

Credit card debt in India has been on the rise, leading to significant concerns. As of…

Surrendering Life Insurance Policy in India: What You Need to Know

Insurance

4 min read

Surrendering Life Insurance Policy in India: What You Need to Know

Have you ever found yourself in a financial bind, staring at your life insurance policy and…

How to File Income Tax Returns for Previous Years?

Tax Planning

6 min read

How to File Income Tax Returns for Previous Years?

Introduction Did you miss your ITR filing last year or the year before? If the answer…

Understanding the Married Women’s Property Act (MWP Act): Safeguarding Your Family’s Future

Insurance

5 min read

Understanding the Married Women’s Property Act (MWP Act): Safeguarding Your Family’s Future

Imagine a scenario where Raj, a successful entrepreneur, diligently plans for his family’s future. He invests…

Things to Consider Before Filing Revised Income Tax Return

Tax Planning

5 min read

Things to Consider Before Filing Revised Income Tax Return

Introduction With all the hubbub around filing income tax returns before the 31st of July, 2024,…

Why are International ETFs Trading at a Premium? Understand the Concept of iNAV

Mutual Fund

4 min read

Why are International ETFs Trading at a Premium? Understand the Concept of iNAV

There are investors out there who are strong believers in passive investing. And most of them…

Bitcoin Essentials: Blockchain, Security, and Digital Finance

Crypto

5 min read

Bitcoin Essentials: Blockchain, Security, and Digital Finance

Uncover how Bitcoin's blockchain reshapes finance and seamlessly integrates with IoT in this essential guide.

Charting Your Financial Future: Mastering the Art of Goal Setting | Temperament by 1 Finance

Temperament

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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Discover your MoneySign®

Identify the personality traits and behavioural patterns that shape your financial choices.

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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