Finance

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...

All Days Are Not The Same, Save For A Rainy Day!

The excess money left with a person after meeting his basic necessities like food, clothing and shelter is savings.The concept of saving was introduced to us at a very young age One of the things that comes to our mind when we hear the term Savings is a piggy bank. Each one of us would have owned a piggy bank when were kids and loved to hear the sound it made when the coins clinked after we shook it. When I was a kid I developed a sudden, but a short lived, interest in saving because I was gifted a unique piggy bank which was a house with a Dalmatian in it. It would peep out of the door collect the coin at the doorstep and go back inside to deposit the coin inside the house. From colourful attractive clay piggy banks to the ones mentioned above, all of these were made to grab a child’s att...

Principles of SIP – Easy Investing!

So, what do you interpret by the term SYSTEMATIC INVESTMENT PLANNING? (SIP) Philosophically, just as little drops of water helps to form an ocean, in a very similar manner, SIP is that technique which helps you to invest money in small amounts which leads to forming a huge corpus gradually. How does an SIP work and how will it benefit you in the long run? If you are asked to let out Rs 75000 from your pocket monthly, you would be hesitant, but for the same target if you would be asked to let out Rs 5000 monthly, you would find that easier to opt. That’s exactly how SIP works! SIP works on the basic principle of investing money in short periods over a term to achieve your financial goals. You may not have an entire lumpsum to invest, therefore in such situations SIP works the best as you ar...

Tips To Get Your New Year – 2017 Right

Start off this New Year with a better financial plan. Assess your liability position, your outstanding payments and credit card bills that are yet to be paid and then carefully analyze your assets or what you have in hand to set off your liabilities. Deducting them from your assets will determine your net worth position. This will help you in carefully understanding how to finance your goals. Hire a personal fund manager if you’re a newbie. He will help you in planning your investment portfolio better in accordance with your budget and risk appetite. Commit yourself to a daily reading of articles on healthy investments to a happier life. It will pave ways to greater knowledge of your own and not just limit them from your fund managers. Crystallize your goals for the year and divide them in...

What Happens When You Don’t Pay Your Debts?

Debt payment is a very important trait that every individual should have as it reflects on your credit worthiness. Procrastinating your debts will prove worse in due course of time, and may restrict you from taking up additional loans if required. So what happens if you don’t pay your debts on time?? This is the story of Adam  Adam had taken up a loan to buy a new car for himself. He had been given due time of 2 months to pay the loan. Since the loan had been taken from a legal lender, he was quite relaxed and assumed that he will not be threatened.In due course of time, Adam quits his job for personal reasons and stays unemployed for 2 months. Gradually, with the problem of unemployment he also faces another difficulty  – loss of money to pay off his debt.What happens now is, he is ...

5 Financial Policies To Be Followed For Your Thirties

Are you nearing thirty ? Then, following are the policies that you could follow to have a thriving thirty and improve your finances Reallocate your funds : Your goals have now differed from when you were twenty to when you are thirty so adjust and allocate funds to your changed goals. At twenty, the money which was spent on shopping on bags may now be changes to shopping with the same amount for your baby’s diapers. Adjust your insurance coverage : Make sure the type of insurance provided to you is still benefitting you 100%. Various insurance schemes may be very enticing to you, but you need to select the best one according to your changing needs and wants of your family members. Save upto 15% for your retirement : 30 is the exact age when you need to start building up your savings for re...

Risk Management In Financial Planning

Investors should always be prepared for risks. When you are planning your finances you should know that the future is very uncertain and we have to plan accordingly. Risk is a part of financial planning, all you need to know is how to handle your risks and be a smart investor. All investments have some kind of risks, planning for your risks and having a backup plan makes it easier for any investor. Tips for managing your risks in finance: Get aware about the recent trends in the financial market. Regular learning will always help you avoid risks. Safety should be the key points when talking about risk management. In today’s scenario, cyber crimes are becoming very common. You should have your privacy in terms of your investments and financial planning. Have a good tax planning so as to avo...

7 Mutual Fund Mistakes You Should Avoid

Every investor is taught what he should be looking into while making an investment, but very often they are unaware of the mistakes that they make while opting for a mutual fund. This article, would discuss about the very common or costly mistakes that the investor makes which should be avoided. 1. Overlooking or ignoring the risks involved: Investors know the benefits of opting a mutual fund before choosing it but they generally ignore the risks associated with it. No investment is risk free, every investment comes along with a risk. One must identify and introspect the entire risk that ispresent and its profiling should be done before selecting a perfect mutual fund. 2. Infuse money in many Mutual Funds: Investing in 15, 20 mutual funds is absurdity. You should always be able to manage y...

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