Finance

Have You Started Your Financial Planning?

We all have dreams, be it owning a car, a house, child attending a prestigious college or building a healthy retirement corpus. But we seldom pen down these goals and work towards a plan for achieving them. These can be termed as your life goals. And that is where the importance of a financial plan comes into the picture.  Financial planning is a process of determining your financial goals with the help of  available resources in a period of time. Financial planning involves wealth management , tax planning , estate planning, retirement planning ,investment planning , insurance planning and cash flow planning.   Need For Financial Plan : A financial plan Helps you to make the right investment decisions which helps you to grow your money A financial plan gives you a clear picture of how muc...

Valentines Day Special

Valentine’s Day is probably celebrated almost everywhere in the world today. This is a day which is celebrated not only by couples but anyone who is in love , who has feelings , who cares and who has a rich bonding with anything and everything . It can be a bond shared between a dog and his master or a bond between a toy and a child . Love is also another name of care, because when we care we protect them , when we protect we invest time in them. So what are your plans for this Valentines Day? What has your girlfriend demanded this time? Oh! Your wife must be expecting a diamond ring isn’t it? Valentine’s Day is one of those golden opportunity days each year where a little effort goes a long way. So why not make these efforts from day one . Here are few tips to make this day a Hassel free ...

Avoid These Mistakes To Help Money Grow Through SIP

Consistency, Perseverance and Patience are the three main objectives of investing in mutual funds – growing money through SIP. Systematic Investment Plan – Investing small amounts on a regular basis i.e. every week or every month. Instead of investing a lump-sum amount one can opt for SIP as another way of investing their amount and build wealth gradually Most people think mutual fund investment is one-time activity which is a wrong notion. Usually mutual fund investment (SIP) are made with a long term purpose in mind. In most cases, investors choose fund on the basis of risk profile, returns and tenure requirement. Investors have to assess the details, else there is a great chance of losing the capital invested into market. Mistakes that the investors should avoid while doing ...

Highlights of Budget 2017

Here are the key Features of Budget 2017-2018,  Total Budget of ₹ 21.47 Lakhs crores for 2017-2018  Micro-irrigation fund with Rs 5000 crore corpus  Prime Minister Gram Sadak Yojan – Rs19,000 crore allocated; along with states, Rs27,000 crore     will be spent in FY18  Pradhan Mantri Awas Yojana: Rs23,000 crore allocated  Fiscal Deficit pegged at 3.2% for the financial year 2017-18 and 3% for financial year 2018-2019  Cash transactions above 3 lakhs is not allowed  Transparency in political party funding – A political party cannot receive a sum exceeding Rs        2000 from an unknown source. They can receive money only through cheques, digital modes or    RBI El  The limit on donations to charitable institutions cut to Rs 2000.  Not many changes to excise duties since GST w...

Tips To Steer Through Budget 2017

The Finance Ministry is all set to present the Annual Budget on 1st February 2017. Everyone is eagerly awaiting the Finance Ministers speech and there has been a lot of speculations regarding the outcome of that speech. Demonetisation had caused Nifty to sink to 7900 points but the market has recovered since then. The fate of this recovery will again depend on the result of the budget. There is an expectation of a positive impact to counter the negative effect of demonetisation. Many investors alter their portfolio by speculating on what may be the possible outcome of the Finance ministers plan. This is not a wise thing to do as the fundamentals of financial planning and investing – Stick to a log-term plan. Since there are many speculations it is not a good decision to change positions in...

New Job? Things You Need To Know About Saving Tax And Investing Your Money

One of the most elated aspects of your first job is living life on your own money but fresher’s need to realise the importance of financial viability and the tips and tricks to handle  your money through saving and investing. Well, first of all you won’t be having too much tax deduction depending on your salary if being fresher. Also you can produce rental receipts and exempt your most of your tax once produced to your HR. There are several other investment options which you can perform to save tax namely PPF, ELSS and NSC can be used as a tax saving investment by people looking for fixed and secured returns. An investor who is also looking for creation of wealth can opt for mutual fund schemes that invest in the equity and equity related instruments. ELSS schemes are ideal in such cases. ...

Why Should You Insure?

To insure is to protect or secure oneself from a possible contingency. The future is very unpredictable and unless you have a time machine or you can foretell future events like Nostradamus you cannot know what will happen tomorrow. The upcoming event may either be beneficial or it may unfavourable. While the favourable circumstances are always welcome, we cannot skip or escape the unfavourable event as there is no way to prognosticate its occurrence. The best thing we can do is be prepared for such loss bearing circumstances – Insure yourself. Insuring is the second step in the achievement financial self-sufficiency after saving – We save for a possible contingency. The money saved is used when the contingency arises. The concept of using one’s own money that was saved to cover a possible...

3 Tips To Grow Your Money In A Short Span Of Time

Tip 1: Spend less than what you earn – Always prefer setting up a limited budget. That is the secret to all successful businesses. The limitation on your budget forces you to work and sell harder for a larger cash inflow. The only point which will stop you is lack of money, so your primary initial effort would be on bringing cash rather than spending more. Tip 2: Never plan too much – Unless you enter the market, you wont realize mistakes you might come across and from those mistakes will you learn how to manage money better.goSpending too much time on over planning will lead to loss of time and a loss of managing skills which you may learn otherwise. Tip 3: Get workable as soon as possible – Never waste much time in having experts, focus groups, and long and expensive business plans. You ...

3 Must Points to Follow to Build up an Emergency Fund

So what does an emergency fund help you with or rather why do you even need an emergency fund? Life is full of risks and your emergency fund will happen to be your savior in times of such risks which will help in preventing you from taking loans or credit. Having an emergency fund, is a trait that a good financial planner always possesses. It is a monthly routine or a habit that he follows. These are the following 3 key basics you need to know about your emergency fund. How to create an emergency fund? An emergency fund can generally be compiled by an amount which equals to three months of your expenses. You can easily get this done by automating your savings, i.e, getting a small part of your savings transferred from one account to the emergency account. All you will have to do is just mo...

What Are The Various Schemes To Save Tax?

Paying excessive tax? Every individual wants to invest in funds that don’t extract much tax. Even though every salaried person needs to pay a fixed tax, there are exemptions on certain incomes. Are you aware of the number of schemes available through which you can pay less tax? Here are a few of them Through Mutual Funds: Income earned through mutual funds is exempted from any tax under SEBI. The best funds to invest in would be ELSS mutual funds. A good ELSS fund can build wealth for investors if held for a long term. Also, it has a potential of higher return. Also, you can get some of the investment back if you opt for the dividend option. Through Pension: National Pension Scheme is beneficial for individuals having risk volatility, looking to set aside money towards retirement. Maximum ...

Is Real Estate Really an Investment?

Shrewd as it sounds, the most popular form of allocating your life savings and into your dream home or a piece of residential land wouldn’t really be regarded as an investment by canny investors. If only did real estate investments come with nutrition facts like the ones you would find on your cereal box would you know that giving away your money for a fancy roof over your head could leave you without a ground beneath your feet. Do your research boy! And while you’re at it here’s my two cents. Real estate is the most secure form of investment, and Real estate generates multifold returns without any effort. Really? Hmm, let’s take a look at those nutrition facts now, shall we? Debt incurred on acquisition must top this list as most of the population in general acquire these chunks of land a...

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