Financial Planning

Cash is King

Cash-is-king

India is a largely cash dependent economy. Even after extensive drive for digitization of transaction, cash still remains the go to option for many individuals. Cash transactions have yet again come on par with the pre-demonetisation levels. Though there is huge progress in the number of digital transactions, there is still a long way to go. Here is why cash is king for most individuals.

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The Right Time To Start Financial Planning

right-time-invest-financial-planning

Financial planning is a process which helps you to manage your finances. It works by linking your investments to your financial goals so that you can secure your future and be ready for life’s surprises.

The right time to start financial planning is as soon as you start earning even if your income may not be high at this point. Starting early will instill discipline in you and it will become a habit instead of urgency in the later years of your life. It will also give you a bigger benefit of compounding and thus a bigger corpus for your later years. At this age, you can afford to invest in riskier investment option such as equities. You will also be able to buy insurance at a low premium when you are young.

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3 Simple Ways to Stop Leakage – Curtail Expenses

3 simple ways to stop leakage – curtail expenses

One of the hardest challenges youngsters face nowadays is that they are unable to control their expenses. Managing money is difficult as there is always some or the other attractive sale going on, there are so many food joints you want to try and so many places you want to visit. Thus, most of them complain of being broke as the end of the month nears. So if you don’t want to be broke at the end of the month, here are some simple tips to help you curtail your expenses.

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Life Insurance – Secrets No One Shares

Term insurance

We work hard day and night so that we earn enough for our loved ones to live a stress free and comfortable life. And we would obviously want that security to continue even if we are not around anymore. This is where life insurance comes to your rescue, and you can be with your family after you are gone, financially at least. This is why everyone with dependent members in family must have life insurance. But before you buy insurance we want you to read the below mentioned secrets about life insurance which the insurer will rarely tell you.

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New Year Resolution 2019

new-year-resolution-2019

New Year’s Resolution list; is somewhat like how a small kid writes to Santa (before X’mas). Year ends and we all love to start new year with some bold steps.

To help & to have the feel-good factor, every year, newspapers & blogs, talks about same good old financial resolutions, with some jargons. It is way #metoo.

I thought of doing & writing something different. This new year lets invest in life, health and our experiences.

What do I mean with investing in Life?

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Planning a Sabbatical – 3 Tips to Keep in Mind

How to Plan Sabbatical

Taking time off from your hectic work schedule is a great way to rejuvenate, learn something new and regain your lost passion. That is why more and more people nowadays plan a sabbatical from their busy life. A sabbatical can last for few months to a year or two. The idea of deciding to take a sabbatical though exciting, is a bold step and requires proper planning. If you are also planning to take a sabbatical keep the following things in mind.

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Are You Ready For Mid-Life Surprises?

Are You Ready for Midlife-Crisis

As young adults most of us aim to earn more and more money while we can so that we can fulfill our dream of lounging in our vacation home (or any other dream that you may harbor) when we are older without any worries of the world. But things rarely go as planned. Life has a knack of showing us things we never expected. Let us look at some of the surprises that life might throw at us in our mid-life which might impact your financial plans, so that you are ready to face them head on.

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Avoid last minute IT rush – Income Tax Proof Submission

tax-planning

The end of the financial year 2018-19 is fast approaching, and with that begins income tax woes 😉.

Most people keep the task of tax planning hanging till the end of the year. While doing so many of them get trapped in last minute investment ideas, which seems attractive, but actual calculation, they are not.

A proper tax planning can help you to minimize your tax liability with the help of productive investments.The income tax framework allows various deductions under different heads, which can be used to save tax, as well as link same to attractive returns. Some of the most popular heads are described below.

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STP – investing in the volatile time

STP Transfer

STP stands for “Systematic Transfer Plan”, which means, one doesn’t want to invest in one GO, but in Parts, over a Period of time. For instance, you have 10 lacs in hand and seeking investment avenues for the entire 10 lacs. Easiest way is to shortlist a fund & invest fully (i.e. entire 10 lacs). But in the current market scenario, where market is swinging every second month (since last one year);is it a wise decision to invest fully?

STP comes as a rescue, where one can make this volatility work for your own benefit. First & foremost, let’s understand, one cannot ever time the market, therefore no point acting like a cowboy, or getting ideas based on celebrity talk-shows/ articles.

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