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There is a ‘Behavioral’ component to how we are losing money these days, and we are losing it without realizing it. These behavioral components of our own financial lives are known as ‘Behavioral Finance’. Let’s take a look at some of the behavioral mistakes that might keep you impoverished in this fast-changing world. Reluctant to …
Everyone likes to make plans for the future. Planning ahead of time is an excellent idea for anything, from daily tasks to vacations. We even make an effort to arrange our yearly or monthly budgets. But not everyone is equally motivated to make retirement plans. A lot of us overlook the significance of retirement planning …
A recent poll found that ten years ago, tenants in important cities such as Bengaluru, Mumbai, Pune, Chennai, Hyderabad, and Delhi would rent nine times before purchasing a property. Today’s younger generation buys after renting just four or five times in their lifetime. For instance, in Bengaluru, the typical age of first-time house purchasers has …
It is evident that today’s youngsters do not possess financial awareness. Youngsters believe that money mysteriously appears in their parents’ pockets to provide for their requests. If you have spent years and years of your hard-earned money to make sure your child has the greatest higher education possible and you can only see that they have not …
The old tax regime has four tax slabs: Income Slab Tax rate Up to Rs. 2.5 Lakh No tax Rs. 2.5 to 5 Lakh 5% Rs. 5 to 10 Lakh 20% Above Rs. 10 Lakh 30% If net income after all deductions and exemptions does not exceed Rs. 5 lakh, there is full tax relief …
Everyone of us would be knowing about Charlie Munger. But just in case anyone reading this article is not aware of Charlie Munger, let us just see a brief introduction of Charlie. Charlie Munger was Berkshire Hathaway’s former vice-chairman and second-in-command to Warren Buffett. Serving as Buffett’s closest business associate and “right-hand man” for more than …
Money habits are practices that support effective money management. The difference between financial success and failure can be determined by developing sound financial habits. You may increase your chances of becoming wealthy by adopting these five money habits. 1. Ownership of a Business: Salaried employees are rarely found in Forbes’ annual list of the world’s …
Investing through a multi-asset strategy offers benefits like diversification, but it also brings psychological drawbacks that can affect decision-making. Recognizing and addressing these psychological drawbacks is key to making informed and effective investment decisions. In this blogpost, we’ll explore how these biases impact multi-asset investing and provide strategies to overcome them for better portfolio management. …
“Income from capital gains” refers to any profit or gain that results from the sale of a “capital asset.” These capital gains are subject to taxes in the year that the capital asset is transferred. We refer to this as capital gains tax. Capital gains are classified into two types: short-term capital gains (STCG) and …
The word “personal finance” involves investing, saving, and money management. None of our schools provide classes on money management; therefore it’s crucial to learn how to handle your finances on your own by reading competent books, articles, and listening to podcasts from some renowned experts in the subject. The fundamentals of personal money management include budgeting, emergency …