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Although things rarely happen as planned in life, it is never a good idea to go on without knowing where you want to end up. According to a quote from Benjamin Franklin, “If you fail to plan, you’re planning to fail.” This is particularly valid when it comes to investing and saving. Usually, wealth isn’t …
Before starting this blog, I would like to give a disclaimer that I am not a proponent of credit cards, and hence I do not recommend to buy a credit card. The purpose of this blog is to make readers aware how you can choose credit cards, if at all you need to buy one. …
The average investor loses money on bank fixed deposits (FDs). A one-year fixed deposit with a nationalized bank in India, assuming 30% interest tax, has provided returns less than consumer inflation in ten of the previous thirteen years. The investor ended up a full percentage point behind inflation over the course of those 13 years. That …
A mutual fund’s systematic withdrawal plan (SWP) can provide consistent income while minimizing taxes. An SWP is the inverse of a systematic investment plan (which involves regular investments). One can take a certain amount annually from a mutual fund using an SWP. Any mutual fund scheme can have an SWP set up. However, if the …
The Indian government launched NPS Vatsalya, a new program within the National Pension System (NPS), to promote retirement savings. The NPS Vatsalya program is a big step toward protecting our youngest citizens’ financial future at a time when financial planning is more important than ever. With the help of this program, parents or guardians may …
In India, the market for health insurance is expanding quickly. According to research, the market is anticipated to grow between 2023 and 2030 at a CAGR of 11.5%. The market is currently estimated to be worth $14.4 billion. The long-awaited Ayushman Bharat health insurance for senior citizens 70 years of age and older has been introduced by the …
The number of non-performing assets in private sector banks’ portfolios of unsecured loans, which comprise personal loans and credit cards, has increased recently. In this blog-post, we will discuss some tips for those who are approaching default or are afraid that their credit score may drop as a result of missing loan payments. Avoid over-leverage: Over-leverage …
The popular movement known as Financial Independence, Retire Early (FIRE) encourages people to save and invest huge amounts of money in order to quit their employment much before the conventional retirement age. A flexible and independent lifestyle is what the FIRE movement offers. But it takes a lot of self-control and resolve up front. The …
We are all aware of the proverb “Prevention is better than cure”. So, the practical applicability of this proverb in our personal life, that too, the applicability of this in our personal finance comes when we secure ourselves and our high-ticket purchases from any loss or damages. For the majority of us, buying a home …
We should not wait for the government or the regulator to curb the mis-selling of the bancassurance products to the customers of a bank or an insurance company. We customers should be well-informed or aware of the mis-selling of these bancassurance (insurance-cum-investment) products. Bancassurance is an agreement between a bank and an insurance company that …