Finance

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...

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...

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