1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
The Emotional Essence of Home: To Own or To Rent? | Temperament by 1 Finance
Imagine a world where every major decision is not just a calculation but a journey through…
3 min read
Why Should You Evaluate Your Existing Portfolio Before Making a New Investment?
More often than not, I have received calls from investors asking me to add a new…
5 min read
Is the F.I.R.E concept possible ?
By definition, it is a known fact that ‘retirement’ is a stage in life when a…
5 min read
Portability in Health Insurance: Empowering Policyholders with Choice and Flexibility
Imagine you’re at a bustling train station, about to board a train to your next big…
3 min read
How to Choose a Health Insurance Plan in India
Purchasing health insurance is a critical financial decision that can shield you from economic hardship in…
5 min read
Decoding Income Tax Rules for Non-Resident Indians (NRIs)
Your trusted guide for unraveling the complexities of Income Tax Rules for Non-Resident Indians (NRIs).
Should Fixed Deposits Be a Part of Your Financial Plan?
Fixed deposits, or FDs, have been a mainstay of the Indian financial landscape for a very…
3 min read
Demystifying Travel Insurance: Separating Fact from Fiction
Unravel the truth about travel insurance with us as we debunk common myths and misconceptions, helping…
3 min read
How To Do Mutual Funds Redemption : A Comprehensive Guide
Mutual funds serve as a cornerstone of many investors’ portfolios, offering a diversified approach to wealth…
6 min read
Term Insurance Unveiled: Covered vs. Uncovered Causes of Death
In this blog, we will explore the diverse scenarios of death that term insurance policies in…
4 min read
The Importance of Will Drafting: A Crucial Step Towards Financial Prudence
Understand the significance of will drafting as an essential measure towards achieving financial prudence.
The True Story That Inspired Our Ad Film
If you’ve watched the 1 Finance ad film or found us through it — welcome on…
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.
