Finance

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...

Manage Your Wealth Now – Stay Stable For Your Future !

You may have innumerable number of goals kept aside for your future, having to send your children to study abroad, or gift your son a car or buy a new house! But what makes you accomplish these goals is your personal wealth management ability. It may prove hard for you to achieve one of your most-wished-for dream if you miss out on any one of these following essentials: The first and the foremost step is to automate your savings. Avoid draining your entire salary, and then saving whatever is left for the month. Just automate it by making sure that a minimum amount is always transferred from your salary account to your savings account. Ensure this occurs on a monthly basis regularly Monitor your instinct spending. These prove to create the biggest hole in your funds and entirely disrupt you...

Demonetisation Update: Things you need to know about depositing old notes in banks

Do you still have old notes worth over Rs 5,000 in your possession and are planning to deposit it? Then you need to hurry up ! The RBI today issued a fresh set of limits for such deposits to check laundering of unaccounted cash using bank accounts. Now, large deposits cannot be made multiple times in bank accounts. Last date to deposit old notes is Dec 30   Old notes above value of Rs.5000 can be deposited only once before Dec 30   Deposit of old notes above value of Rs.5000 will be subject to audit and taken on record. A satisfactory explanation will be required during such deposit.     Deposits made in small amounts above value of Rs.5000 via old notes will be subject to scrutiny   Only KYC compliant bank accounts will be credited with full value of deposits made abov...

Estimation of Tax Liability for LLP, Advance Tax Due Dates and Payment

Calculation of Book Profit and tax liability Limited liability Partnership is a new concept in context of India. However, the tax provisions relating to LLP are similar to registered partnership firms. The accounts of registered partnership firm/LLP are maintained like other business firms. All the expenses relating to the partnership firms are booked within the permission limit of law.

Traits of Successful Investors

Investing is an art and any benefit coming from your investment is termed as ‘returns’. It is very important to know the art of investing and have proper knowledge about it. Apart from that, investors should have various traits/habits for successful investing. 1. Be a learner You should spend more time learning than actually investing, it is rightly said that knowledge has the power to conquer the world. In this case not the world, but definitely the market, you can rule the market if you have skills and knowledge about it. 2. Always have a well defined strategy Investors believe in planning out everything, planning makes everything better. You should have a well defined investment strategy. You have to identify your investment style according to your risk appetite and goals. 3. Determinat...

Marriage and Money

  Marriage is a very big step; it’s about sharing your goals and aspirations as well as assets and liabilities. It brings responsibilities not only for you but for your partner and children too. Let’s have a look at certain points which has to be kept in mind for planning your investments after marriage: You should have all the documents updated – bank accounts, marriage certificate, pan card, voter ID, nominee names, etc .so that there are no hindrances when planning for your investments. 2. Communication is very important whether it is formal or informal. The couple should jointly make their goals and should plan out together; there should be transparency between both with regard to savings, expenditures and investments. This will lead to better handling of problems and avoidance of...

Tips for a Woman’s Secure Financial Future

Women’s Day Special –Tip #1 for a Secure Financial Future Save regularly for a rainy day Women’s Day Special –Tip #2 for a Secure Financial Future Do not shy from taking risks Women’s Day Special –Tip #3 for a Secure Financial Future Be more involved in family finances Women’s Day Special –Tip #4 for a Secure Financial Future Value yourself adequately in the job arena   Women’s Day Special –Tip #5 for a Secure Financial Future Draw up a budget and stick to it Women’s Day Special –Tip #6 for a Secure Financial Future Take expert guidance but don’t trust blindly   Women’s Day Special –Tips for a Secure Financial Future Get out of your comfort zone and take the step ahead SMART MONEY MOVES TO SECURE YOUR FINANCIAL FUTURE •SAVE REGULARLY FOR A RAINY DAY •DO NOT SHY FROM TAKING RISKS ...

Importance of Financial Stability for a Start-Up Employee

Risk – that’s something that is prevalent in anyone’s life.  Whether you work in the bottom most part of the pyramid or the top most part of the pyramid (it’s not too long back that a Mistry was told Tata). But, more importantly, in the current blooming era of “START-UPS”, the element of RISK is larger.  Yes, a startup life is exciting, challenging, it’s a different path that you have taken and are trying to chart out something new.  However, along with the fun stuff, comes health issues that may come up due to additional stress, managing lot of things and also a huge question on the future. Health related concerns definitely need to be addressed.  However, while precaution could be one way to better your health, it is highly advisable to take adequate amount of health insurance, so that y...

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