1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
The Psychology of Debt: Navigating the Emotional Labyrinth | Temperament by 1 Finance
In an era where financial decisions are deeply intertwined with emotional responses, the psychological aspects of…
3 min read
World’s longest coffee break: Retirement
Retirement—a word that often conjures images of winding down, but in reality, it marks the beginning…
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
How to Claim Deductions While Filing Your Taxes?
This blog post focuses on four key sections of the Indian Income Tax Act—80C, 80CCC, 80CCD,…
The Tricky Ease of Buy Now, Pay Later Schemes
In a time when the accumulation of commodities has become the norm, it’s easy to believe…
How Do I Set Up an Emergency Fund?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
The Sweet Relief of Being Financially Literate
I sit sweating uncomfortably in our living room on a humid Goa morning, halfway through a…
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,…
Navigating Money Matters in a Relationship
“In our home, all talk begins and ends with money,” Sarita complains to a concerned neighbour…
How Reactive Purchases Impact Our Carbon Footprint
It all began with a dressing gown. Like what you're reading? Get our latest, straight to…
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…
Why We’ve Set Up a Committee for Qualified Financial Advisors
As a financial institution, we think of 1 Finance as a place that takes care of…
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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.
