Your Guide to Investing in the NPS
October 18, 2015 Financial Planning, Infographics 0 Read more >
October 18, 2015 Financial Planning, Infographics 0 Read more >
Not having enough money to pay the bills is an issue we may face from time to time. Life is full of financial ups-and-downs, and after all, we’re all human.
Don’t beat yourself about the situation or get discouraged. Vow to take action. If you don’t make changes, things will stay the same. If you’re in a tough financial spot, here’s what to do when you can’t pay your bills on time, and tips on how to best handle the situation.
1. Don’t Hide From the Facts
Do you know why you can’t pay your bills? Did you overspend, have to make up for an emergency, or was it just human error? Don’t hide from the facts, but instead embrace them head-on. Not dealing with this financial mess can lead to more late fees, higher interest rates, additional interest charges, and even damage your credit report.
August 21, 2015 Financial Planning, Infographics 0 Read more >
If there’s one thing that all wealthy people have in common it’s this: They invest.
That’s because investing money is the smartest and most reliable way to grow it over the long term, after you have first built up your emergency savings (which never gets invested).
Investing in a Nutshell
Investing is putting your money in a financial vehicle that might enable it to grow more quickly than it would in a savings account.
While most of us think of “earning” as putting in hours of work and getting paid for that, investing essentially puts our money into a marketplace where companies and governments and other entities can use it to create a profit that will be returned to us. (At least that’s the hope—some investments do go bust, taking our money with them.)
Most commonly, people invest by buying financial assets like stocks, bonds, mutual funds and ETFs (and if you don’t know exactly what these are, don’t worry, we’ll describe them later). When we sell them, we hopefully make a profit by selling at a price higher than what we bought them for.
August 5, 2015 Financial Planning, Infographics 0 Read more >
Even though consumers have been using online banking and mobile applications for years, the concept of online financial planners like Moneyfrog.in is still new. In comparison to a traditional face-to-face financial planning relationship, how do online financial planners work?
Online financial planners allow you to:
“I have opted for financial planning and wanted to invest in mutual funds” – when I told this to my mom; she was as concerned, as one feels towards a medical patient.
Now stop smiling there!
If it reminds you of a famous dialogue-“It happens only in India”, then you are wrong. It’s not just the case in India, it’s worldwide. People are afraid about investing in market either because of their bitter experiences or scarce knowledge.
My mom warned me to either take a money back insurance policy or open a bank FD account for all my needs. She said “it’s more than (more…)
Yes, very true, this is exactly what everyone thinks in India, whenever we hear the term “Financial Planning”.
Since the day I have started my venture in similar field and my interactions with my near & dear ones to promote same, reactions have been quite similar, i.e. they perceive my pitch as another advisor in town, who wants to sell investments (i.e. Insurance or Mutual Fund). And all most all of them have replied back (though without hurting my feelings), that they will call back once they have funds in hand… 😉
As a matter of fact, my own experience of last 15 years in capital market & my recent venture, where we have registered more than 1500 customers for Financial Planning, most of them or rather 99% of them, relate the term “Financial Planning” to “selling new investments”.
We all get tempted at offers when we see discounts at stores, malls or even online websites and end up purchasing goods, which we may actually don’t require or even use in the near future. Whereas, we most likely will shrug off a genuine seller, who would be pitching for a product (with or without discount), which will actually be beneficial & useful to us.
Why do we behave like this?
This is a scenario which one goes through while relocating to a new place, mainly to metro cities like Mumbai, Delhi & Bangalore. It’s been everyone’s dream to have their own property, but without any guidance in place, making us feel helpless.
One hand you have hordes of brokers who are ready to show you apartments, where you just have to give them an indication on your budget. On the other hand you have banks offering home loans based on your eligibility & make offers look very attractive.
But both these parties will never ever advice what is good & right, give you a cost benefit analysis, how one should look at buying a property or even renting? Broker makes cool 1% on the purchase transaction. Banks has a spread of 3% to 5% on your interest payment & makes handsome money by lending.