Cut down on non-essential expenses like outside food, travel expenses.
If you already hold significant amounts of equity in your portfolio, avoid MAAFs with over 60 per cent equity. But if you lack equity exposure, an aggressive MAAF may be appropriate.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
One way to bring down the cost is selling off old furniture.
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
With banks taking the cue from RBI to hike rates, home buyers will have to take serious measures to keep their finances under control.
Be wary of co-operative banks which have historically been most vulnerable.
If you plan to withdraw money from your corpus regularly to meet expenses, have a portfolio of stable instruments.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
The over-concerned species that we parents are, New Year is a great time to ensure that we leave our children with something to learn by, says Murad Nathani
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Traditional investments like fixed deposits are good and safe and one must have a part of their savings invested in such risk free options. However, your portfolio is not complete and balanced in the absence of stock investments.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
Don't let knotty financial issues weaken your marital bond. Heavy liabilities of one partner have the potential to sour a new relationship. So, develop a plan for how you will deal with these.
'Save the entire chain of e-mail exchanges so that you have documented evidence to show you informed the bank about the issue.'
Try getting to know them better before allowing yourself to develop any feelings, or your judgment will get clouded by emotions running high, suggests Ravi Mittal, CEO, Quack Quack, an online dating app.
Adopting overly aggressive strategies without considering risk could lead to significant losses during the next downturn.
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
Senior citizens should avoid putting their entire retirement corpus in SCSS.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Do not keep a large portion of your long-term portfolio in FDs.
A woman can do many wonderful things if she wishes to, and one of them is to grow her money.
Look at savings as a percentage of income rather than a fixed amount. Both should rise in the same proportion.
Few options that can help you plan taxes wisely.
Income Tax department have released different tools to help you file your ITR-3 form easily.
A mortgage is a great responsibility that you must bear on able shoulders for a long period of time. If you already have a mortgage or are planning to avail of one soon, you are obviously confident of your finances, but a few tips to save money on your home loan couldn't hurt, right? Read on to find out more!
Here's how you can ensure you have enough in your kitty and be in command of your finances.
If you fail to make the lump sum deposit before April 5, do so at least before the 5th of the next month (May). That way you will only lose out on the interest for April.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
Did you know that you can get a tax benefit of up to Rs 50,000 under a health insurance policy?
It is important to celebrate when your first paycheck arrives, but is equally important to ensure that you take the time to learn some very important personal finance lessons, so that you can put your salary to work for you and grow a savings corpus.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
'Liquid ETFs help in cash management by enabling a smooth transition between equity and cash within the same settlement cycle, as they trade in the same segment as equity.'
If you choose to be a stay-at-home mom, it definitely does not mean that you are losing a grip over your finances. In fact, there is a lot you can do for yourself and your family.
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