1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
The Sweet Relief of Being Financially Literate
I sit sweating uncomfortably in our living room on a humid Goa morning, halfway through a…
5 min read
Maximizing Tax Benefits on Medical Expenditures: Understanding Sections 80D, 80DD, and 80DDB
Introduction As individuals, we are all too familiar with the ever-increasing costs of medical expenses. Whether…
So You Like Art — But Should You Invest in It?
In March 2021, Mike Winkelmann, better known as Beeple, sold his work Everydays: The First 5000…
How Exchange-Traded Funds Can Add to Your Portfolio
Exchange-traded funds, or ETFs, are investment funds that track the performance of an index, commodity, sector,…
3 min read
How Does Capital Gain/Loss Harvesting Help You Save Taxes?
Delve into the strategy of Tax Loss Harvesting with us, uncovering how savvy investors leverage capital…
4 min read
5 Essential Steps to Make a Will and Secure Your Legacy
Many view estate planning as a task for the elderly or wealthy, but creating a will…
Should You Be Investing in Gold?
In India, gold has been a traditional form of investment for generations, and often holds sentimental…
One on One with a Ski Guide
Mushtaq Ahmad Magray has been taking to the snowy slopes of Gulmarg — India’s ski capital…
4 min read
Navigating the Financial Terrain of Relationships | “Temperament” by 1 Finance
In the ever-evolving dynamics of relationships and finance, achieving harmony between love and money management is…
4 min read
Gifts and Their Tax Implications
In India, exchanging gifts is a common way to express love and gratitude within our culture.…
Behind the Scenes of Building MoneySign®
When we set out to build 1 Finance, one of the things we had the most…
4 min read
Unlocking the Benefits of Travel Insurance in India
Discover how Travel Insurance can safeguard your journeys and provide peace of mind while exploring India's…
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.
