1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
A Step-by-Step Guide to Transfer Your EPF Online
Transferring your Employees’ Provident Fund (EPF) account when you change jobs is essential to ensure the…
Are Millennials Worse Off than Baby Boomers?
For her 31st birthday, Charu, a high-level marketing executive with a large MNC, decided to treat…
The Benefits of Being a Budget Bride
When I was 27, my salary account had a monthly cycle. Full on the first, inexplicably…
2 min read
How to Save Tax Legally in India
Everyone pays tax in some way or the other — and as we experience upward mobility and…
3 min read
Mastering Personal Loans: Your Ultimate Guide to Financial Flexibility and Smart Borrowing | Temperament by 1 Finance
In an era where financial flexibility is more important than ever, personal loans emerge as the…
2 min read
Income Loss & Emergency Planning: Mastering Resilience in Uncertain Times | Temperament by 1 Finance
In an age where job security is a relic of the past, “Temperament” by 1 Finance…
8 min read
Liability Planning: A Comprehensive Guide
Looking to protect your assets and minimize your financial risks?
4 min read
Can you claim both HRA and home loan deductions?
Many people in India have purchased homes using loans and are paying installments. The Income Tax…
How Tech Makes Splitting Bills Easier
a nice time and eaten your fill. Then the bill reaches the table, and suddenly, there’s…
4 min read
How to afford a house in India in 2024!
In my short career of being a financial planner for the last 12 years, I have…
4 min read
Navigating the Claims Process: Tips for a Smooth Experience with Health Insurance in India
Navigating the claims process can be a daunting task for many individuals when it comes to…
Do What You Love, But You May Not Earn as Much
“Money, it’s a gas.” “Money, money, money, must be funny, in the rich man’s world.” “Money,…
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.
