Here are some tips which may help one stay clear of the mess and chart out some winning strategies in these times of crisis and world-wide panic.
The biggest risk in life is taking one but believing you have not taken any.
'We have no time for meals. We don't sleep on time or have family or community interactions.' 'All this stress has made us pressure cookers without valves.' 'No wonder then we are bursting out with heart attacks,' points out Dr Udgeath Dhir, director, Fortis Memorial Research Institute, Gurugram.
'Use this money to build an emergency fund if you do not have one.'
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
If you spread your investments and get exposure to many asset classes, then that is called diversification. Asset allocation is the process of allocating your money to different investments. And they offer tremendous advantages, says Rishi Piparaiya.
Understand the pros and cons of SGBs before rushing to invest in them based on past returns.
Investors can sell a part of the stocks, mutual funds, exchange-traded funds, and other securities held in their portfolios at a loss and use this loss to offset tax on the capital gains made on the sale of other securities.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
Get a new QR code from an alternative provider. PhonePe, Google Pay, Pine Labs, etc are some of the other service providers.
While tenants can't escape the impact of rising rentals entirely, they can adopt a few strategies to reduce the impact.
Make the most of the income that you earn by invest the money in the right instruments. The advantages of starting early and investing right cannot be overstated, says financial planner Harshad Chetanwala.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
'It is the best avenue for investors who would like to take long-term exposure to gold.'
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
Investing merely on the basis of past return can land you in trouble even in debt funds, a supposedly safe asset class, suggests Sarbajeet K Sen.
Here are some common mistakes most individuals make when investing.
Only the top 5 per cent profit makers account for 75 per cent of profits.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
Investors who cannot manage an asset-allocated portfolio or rebalance regularly, or do not have an advisor, may opt for these funds, but only after a detailed study of their strategy, suggests Sanjay Kumar Singh.
To select the right platform, get the opinions of a few existing users or browse online for feedback. Select a platform that offers a seamless experience. Check that the platform you are going with is a regulated entity, suggests Sanjay Kumar Singh.
In an hour-long chat on rediff.com, financial planning expert Sailesh Multani offered some valuable investment tips.
Direct tax expert Vikas M Gandhi offers some vaulable tax-saving tips.
Celeb-inspired ways to amp up your festive accessory game.
Plan these investments well rather than just doing random investments at the beginning of the year or rushing in at the end, advises Harshad Chetanwala, co-founder, MyWealthGrowth.
Investors should take limited exposure in credit risk funds.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
'From a risk-return perspective, large-cap funds may generate lower-than-historical average returns in 2024, whereas mid-, and small-cap funds hardly have any upside left.'
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
The BSE Midcap and the Small-cap Index have run up 25.3 per cent and 31.3 per cent respectively over the past year. Valuations are no longer cheap, notes Sanjay Kumar Singh.
Sanjay Kumar Singh suggests key factors investors need to keep an eye on while choosing the direct investment route.
'If you are looking to fulfil imminent long-term commitments, the new online Ulips are the right product for you,' notes Santosh Agarwal/Policybazaar.com.
Is the latest mobile or car or a house the goal? If so, the savings and investments should be aimed at catering to it. The amount needed has to be worked out, and money needs to be saved, accordingly, suggests Sarbajeet K Sen.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
Investors looking for a fixed-income product that is free of credit risk may invest in these bonds.
Rediff reader Hari Krishnan Nair, 43 from Kenya shares his suggestions on how to make the most of the lockdown.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
Most coronavirus infections are not severe and do not need hospitalisation, the office of the Principal Scientific Adviser said on Friday, prescribing home-care tips for patients.
Over-communicate, but don't micromanage: Ritwik Sharma's tips for our new work ways.
