2015

Thinking of quitting your 9 to 5 job? Want to be your own boss? Starting a business is not easy. It is like your baby which needs care, nurturing and 100 per cent full time dedication and commitment. You need to think through a host of issues before starting your venture such as upfront investment, product/service offering, business model, distributor tie-ups, warehousing, merchandising, marketing, break-even, margins, etc. But before you start brainstorming on your business plan, you need to review your personal financial plan. You need to put your house in order first before you tread the rocky path of […]

In today’s stressful times, cardiovascular diseases and diabetes have become common ailments. Ironically, people are living longer due to advanced medical science, but less healthy. As per a World Health Organisation (WHO) report involving a survey of 162 countries, India figures in the high danger zone of risk of cardiovascular diseases in the world. It is thus very essential to have health insurance which funds medical costs during tough times. The average health cover usually bought by an individual is about Rs.2-5 lakhs. This is however a paltry sum and needs to be upgraded periodically with the rise in age. […]

In our recent article, we talked about ‘How to prepare financially for Emergencies’. In our latest post, we are going to talk about protection from calamities. While people seek protection for their life and health, it usually doesn’t occur to them that their belongings need protection too. Last month there was a fire in one of the units in our office building. It started off with a spark in the air conditioner but quickly spread and in the process gutted the whole office. This gave rise to a whole host of problems for the owner like: Monetary loss (mitigated if […]

Life sometimes can deal a cruel blow to you and if not prepared, it can hit you hard. While many people buy insurance for protection, it does not go beyond life and health insurance for majority. But there are certain situations which can catch you off guard and later may prove to be a big drain on your financial resources. Let us examine them one by one. (1) Loss of job: A couple with high paying jobs was working in a prominent healthcare company in the research department. The company one fine day decided to permanently shut the research wing. […]