1 Finance Blog

Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.

The Dos and Don’ts of Sharing Your Financial Data

3 min read

The Dos and Don’ts of Sharing Your Financial Data

We tend to be discreet about our financial information, and understandably so. No one wants to…

Harnessing Financial Security with Joint Life  Term Insurance in India

Insurance

3 min read

Harnessing Financial Security with Joint Life Term Insurance in India

Introduction In the pursuit of financial well-being, individuals often seek comprehensive solutions to safeguard their loved…

The True Story That Inspired Our Ad Film

4 min read

The True Story That Inspired Our Ad Film

If you’ve watched the 1 Finance ad film or found us through it — welcome on…

Tax Filing: Understanding Key Terminologies

Tax Planning

5 min read

Tax Filing: Understanding Key Terminologies

Filing your Income Tax Return (ITR) in India can feel confusing at first. There are a…

Navigating Income Tax & Taxation on Gifts Received in India

Tax Planning

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…

How to File a Life Insurance Claim

Insurance

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…

How Our Memories Shape the Way We Think about Money

3 min read

How Our Memories Shape the Way We Think about Money

The world as we know it as adults is often viewed through the prism of our…

Unknown Clauses About Life Insurance Policies to Watch

Insurance

3 min read

Unknown Clauses About Life Insurance Policies to Watch

In India, life insurance has long been an emotional decision for families. It remains a push…

Why We’re Bad at Sticking to a Budget

4 min read

Why We’re Bad at Sticking to a Budget

It’s almost the end of the month and your credit card bill lands in your inbox.…

How you can Minimise Tax Impact When Selling Property in 2024

Tax Planning

4 min read

How you can Minimise Tax Impact When Selling Property in 2024

Selling property can be a rewarding experience, but the taxes involved can quickly dampen your enthusiasm.…

One on One with a Font Engineer

8 min read

One on One with a Font Engineer

Kalapi Gajjar-Bordawekar has been working with fonts for about a decade. He is a typeface designer…

How Soon Can I Retire?

4 min read

How Soon Can I Retire?

Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…

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Frequently Asked Questions

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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.

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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.

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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.