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.
You must remember to choose the right home loan if you do not want to face the hassles in the process.
By implementing these simple ideas you will not only have saved a lot of money, but ensured that you do not find yourself in a pile of credit card debt or have thrown your monthly budget out of gear.
Go make a beautiful home but spend smartly and wisely!
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
One of the mistakes most homemakers make while thinking about financial planning is looking at immediate goals, says Amar Pandit.
If your children live abroad, rely more on financial assets as they are easier to liquidate and move across borders.
Do not keep a large portion of your long-term portfolio in FDs.
Many youngsters take financial discipline as putting restriction on their freedom. That's a myth. You can very well enjoy as well as save and grow your money at the same time. Salil Dhawan shows you how
Income Tax department have released different tools to help you file your ITR-3 form easily.
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.
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.
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.
'Decide on an asset allocation you are comfortable with and stick to it for the long term.'
'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.'
Saving tax is the main motto of all taxpayers. While some hire chartered accountants, others pore through tax laws, or ask friends to find out if there are ways by which they can save.
'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.'
Under Section 80D, you can avail of deduction on payment made towards preventive health check-ups.
Surround yourself with people who are also working hard on their own side projects, says Saagar Panchal.
Investors looking for a fixed-income product that is free of credit risk may invest in these bonds.
If you are overweight on fixed-income instruments, go for ELSS, and vice versa.
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
There are millions of Indian women who avoid the responsibility of managing their finances due to a variety of reasons, including cultural and social conditioning.
Understanding how money works is the first step toward making your money work for you, says Harshad Chetanwala, co-founder MyWealthGrowth.
The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.
Understand the magic that SIP brings to the table for you as an investor, says Satyen Kothari. You can start by investing as little as Rs 500 per month.
Form 16 contains details of salary income, deductions, and exemptions.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
Regardless of market levels, invest in stocks and equity mutual funds in a staggered manner.
Consider a combination of a base policy and a super top-up policy.
You do get your money's worth simply watching these girls do what they are best at: Entertainment, feels Divya Nair.
Here's a quick round up on what you should do whilst you apply finishing touches to your tax planning.
G Murlidhar, MD and CEO, Kotak Mahindra Life Insurance Company explains how to make smart financial decisions for better gains.
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 are travelling internationally in the next two months, it's a good time to exchange your currency.
Avoid clicking on any unknown links from strangers. Use a different, secure password for each social media account you have.
'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
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