1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
Is It Possible to Avoid Tax on Long-Term Capital Gains?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
Navigating Income Tax & Taxation on Gifts Received in India
Understand taxable income basics and the taxation on gifts received. Navigate with confidence, ensuring compliance and…
Liabilities: Overlooked, Misunderstood, and Mismanaged
What comes to mind when you think about liabilities? Is it visions of overdue bills, crushing…
How Do I Identify an Unhealthy Mutual Fund Investment?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
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…
3 min read
Revolutionising Insurance with AI: Insights from Industry Leaders | Temperament by 1 Finance
The integration of Artificial Intelligence (AI) into the insurance sector marks a pivotal shift, promising to…
Does Movement on the Stock Market Make Us Anxious?
There’s a scene in The Wolf of Wall Street where Matthew McConaughey’s character gives Leonardo DiCaprio’s…
Who Do You Trust to Give You Financial Advice?
It appears that everyone is talking about personal finance — watching ads during a cricket game…
A Quick Breakdown of What a Depreciating Rupee Means for You
In everyday transactions of late, you might’ve noticed a gradual spike in the price of fuel,…
Estate Planning: A Guide to Leaving a Legacy, Not a Mess | Temperament by 1 Finance
In the world of financial planning, the conversation often revolves around wealth accumulation and management. However,…
Is Market Risk All You Need to Consider While Investing?
“Mutual fund investments are subject to market risks, read all scheme-related documents carefully.” This all-too familiar…
4 min read
How to File a Life Insurance Claim
In an unpredictable world, a life insurance policy stands as a vital safeguard to protect our…
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.
