1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
Unleash the Power of Your Credit Card Benefits
This guide encapsulates strategic credit card use for maximum benefits, focusing on understanding rewards, smart spending,…
4 min read
Investing in Mutual Funds vs. Stocks: Which is Right for You?
The world of investing can seem daunting, especially for beginners. Deciding between mutual funds vs. stocks…
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…
8 min read
How to Compare Credit Cards
Credit cards—often viewed as a great tool of convenience by some due to their ease of…
3 min read
How do Credit Cards Work
In today’s fast-paced, digital world, credit cards have become an indispensable financial tool for millions of…
3 min read
What are Cryptocurrencies?
Crypto-currencies are reshaping India's financial landscape, offering decentralized digital assets that hold the potential to revolutionize…
4 min read
Can I file ITR for the last 3 years?
Whether you’re applying for a bank loan or filing a visa application, income tax returns for…
3 min read
The Advent of Central Bank Digital Currency
Exploring CBDCs, Digital Rupee, and global initiatives for Central Bank Digital Currencies.
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…
4 min read
Understanding the difference between short-term and long-term capital gains in India
Understanding short-term and long-term capital gains is crucial for complying with tax laws and filing your…
13 min read
Why Lifestyle-Based Financial Planning Matters
Have you ever wondered why some people breeze through life achieving financial goals, while you struggle…
4 min read
Macroeconomics and Its Impact on Personal Finance | “Temperament” by 1 Finance
In the ever-evolving economic landscape, understanding the intersection of macroeconomics and personal finance is crucial. The…
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.
