Buying their own home is a dream for most of the people on earth. Out of the three basic necessities Food, Clothing and Shelter (Roti, Kapada Aur Makaan as we knew it), fortunately, two can be bought without a loan. But buying a home without a loan is another dream. With so many home finance companies and banks offering home loans, most of the new homes in India are bought with the help … Continue reading How to Double Your Joy When You Buy A New Home?
When you opt for Cake against Ice-cream, you have sacrificed the experience of eating ice cream. When you opt for Watching TV over outing, you have sacrificed an enjoyable outing experience. Every day and in several matters, we choose one over the other choice. The choice we sacrifice in favour of the choice we make is the opportunity lost. This is why it is called Opportunity cost. This is … Continue reading You Need to Know This Important Concept For Better Decision Making
Indian stock market like the global stock market is unpredictable. There are hardly any safe investment instruments. Investors who are risk-averse want to invest in risk-free instruments. They believe fixed deposits are the best instrument to invest. Fixed deposits are accepted by various types of entities in India. But are the Fixed deposits really safe? Here I present some of the important facts you need to … Continue reading All You Need to Know about Fixed Deposits
Do you know about the significant role life insurance plays in your life? Yes, it does play a very significant role for your entire family. Life insurance touches every close relationship in your life. Your financial worries whether it is for your children or your parents or even your own, life insurance has the solution to cater to all your worries. “You don’t need to … Continue reading The Important Role of Life Insurance Plays in Your Life
Financial Literacy is very important literacy but ironically is not given the importance it deserves in our education system. “One of the reasons the rich get richer, the poor get poorer and the middle-class struggles in debt is because the subject of money is taught at home, not at school.” Robert Kiyosaki, Educational Entrepreneur. According to Organization for Economic Cooperation and Development (OECD) “financial literacy as a … Continue reading Know Why Financial illiteracy Could be Extremely Dangerous
“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” Jimmy Dean You can’t change the life events happening to you but you can change the life insurance appropriate with the life events. The investments in the Life Insurance Policies are not a one-time event. Your need for life insurance cover changes every few years. If you ignore … Continue reading Why Should You Periodically Review Your Life Insurance?
Today I received an SMS from sbiccpay.com stating that my SBI Card reward point is expiring today. the message contained a clickable to redeem the points. Here is a screenshot of the site. They are asking not only email ID but email password and credit card CVV number and date of birth. With these details, they can use your email, use your credit card. It … Continue reading 9 Online Frauds You Need to Know to Avoid Losing Money
“I like to pay taxes. With them, I buy civilization.” Oliver Wendell Holmes Jr. 31st July is the due date of filing an income tax return for individual taxpayers. Here are some important FAQs for the benefits of taxpayers. Benefits of Filing Income Tax Return? Apart from this being your duty and legal obligation, your income-tax returns validate your credit worthiness before financial institutions and make … Continue reading Important FAQs You Need to Know Before Filing Income Tax Return
“No one is dumb who is curious. The people who don’t ask questions remain clueless throughout their lives.” Neil deGrasse Tyson. Knowing the competency and independence of the professionals we work with is important. Usually, we go to doctors or chartered accountants referred to us by someone known to us. With the opening up of the financial sector in India, we have plenty of investment … Continue reading What You Need to Ask Your Financial Planner?
Though the Mutual Fund Sahi Hai campaign by AMFI needs to be more convincing, yet the message of the campaign is Sahi. It all started in India with the first scheme Unit 64. After years there as another scheme Master Share which received tremendous response from the investors. The investors invested in the new scheme on a massive scale and expected return like from an … Continue reading How to Evaluate Mutual Fund Performance? Criteria You Need to Know
Learning from the experience of successful people is the quickest way to learn. Books by experienced people are the best source to learn from these people. Some books remain with the readers throughout life. Some of the lessons learned from the stalwarts at an early age make a sea change in one’s life. “ If we encounter a man of rare intellect, we should ask him what books he reads.” … Continue reading 2 Powerful Wealth Creation Books To Read ASAP
Do you want to be rich? Since you are reading this post, the answer would be Yes. Becoming rich is everyone’s dream. Some give up midway, some pursue it relentlessly, and some actually become rich. At the end of the day, it’s all about luck but at the beginning of the day, it’s all about your efforts. When it comes to your efforts, you would … Continue reading Do You Possess These Characteristics to Become Rich?
Among all the planning you do Financial Planning is perhaps the most important but mostly ignored planning exercise. Financial Planning requires you to consider planning about your life. It entails considering budgeting, savings, investments, taxes, insurance, retirements, and important life stage planning like children education, marriages, etc. It is an exhaustive process. But it is also an interesting process. It makes you think through the … Continue reading You Need to Know 4 Aspects of Personal Financial Planning
There are 100 reasons why you should exercise. There are 50 reasons you should save money. How many reasons are there to invest in a life insurance policy? “There are worse things in life than death. Have you ever spent an evening with an insurance salesman?” Woody Allen: People have many reasons for what they do. Everyone has their own reason for their own action. … Continue reading 21 Reasons Why People Buy Life Insurance
A good Financial Planning also takes care of wealth distribution to the next generation. You invest in a life insurance policy to protect your family member after your death. You make a WILL to make their lives easy after your death. You also make a WILL to distribute wealth in a fair way. You make a WILL to express all your wish about your wealth. “When you do … Continue reading Why You Need to Make a Will?
Story: Recently I saw a balance sheet of an entrepreneur whose business is doing a turnover of about US $ 15 mn and good profit. However, his personal Balance Sheet did not reflect any substantial investment other than his house. The loan of another entrepreneur known to me become NPA. He was making a reasonable profit for many years. However, he did not have any investments outside his business … Continue reading 4 Reasons Why Entrepreneurs Need to Save
Do you know you can do nothing after your death? “No one here gets out alive.” Jim Morrison Therefore, financial planning for your death must start when you are alive. It may sound unkind, but death is the ultimate future of every living being. If you plan better it is good for your spouse, if you don’t, well, hardship she will be subjected to will … Continue reading What Women Need to Know About Family Finance?
We celebrate two birthdays. One as per the English Calendar and other as per the Indian calendar. But we celebrate 3 new years. One starts as per the Indian calendar, one as per the English calendar, and one financial year. We are approaching the new ears as per the English calendar year. One more new year and one more chance to reviews all our goals, … Continue reading 14 Financial Hygiene Tips You need to know
Do you know who is the nominees of your life insurance policies? Do you know the nominee of the properties you own? Appointing a nominee for all your assets is important. A property or investments without a nominee can entangle your near and dear ones in a legal battle. Therefore, the act of nomination is your very important responsibility. Read on to know more about … Continue reading Everything You Need to know about Nomination of Your Life Insurance Policy
When you are young you can eat whatever and get away with it. But as you age you realise the response of your body to what you eat. You reduce your food quantity, you cut down fried items, you avoid spicy food, and you refrain from heavy to digest food. When you become old you further cut down many foods. As you age your priorities … Continue reading Why you need to know Lifestage Investment Strategies