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Corona Virus, Yes Bank debacle, Economic Slowdown. Here is how to deal with negative news as an Investor.
- March 13, 2020
- Category: Financial Planning, Investments
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Nowadays, almost every 9 out of 10 messages on WhatsApp you will read would be related to Corona Virus. There are also videos where the self-proclaimed experts would talk about home remedies and preventive measures to deal with it. Further, you will see debates on media channels about how Corona Virus is adversely affecting the global economy including India. Then we have the Yes Bank fiasco which has shaken every common man’s trust in depositing money with banks. The power of social media amplifying bad news is unprecedented. Everyone you know is sharing the same message on different groups. A […]
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How Technology can help You grow your Wealth?
- February 13, 2020
- Category: Financial Planning, Investments
Mobile apps in our smartphones have become a ubiquitous part of our everyday lives. They are fast and convenient. Apps are just a swipe away – Amazon for shopping, Ola/Uber for travel, Zomato for food orders, etc. However, this high dependence on mobile apps is also enticing us to spend more. Add to that, the discount offers and cash back deals are too hard to resist. We aimlessly spend gobs of time scouting for attractive deals and buy that extra jacket or footwear just because there is an attractive discount offer. As automation induces human behaviour to spend money, at […]
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All you need to know about a Home Insurance Plan
- January 15, 2020
- Category: Insurance
Mr. A’s flat in a high rise was recently gutted in a massive fire which broke out due to short-circuit. His entire property, contents, including all important documents, valuables, electronic items, were destroyed in the fire. Unfortunately, Mr.A learnt the importance of home insurance the hard way. Our home is one of the costliest assets we own and we entrust our major life savings into buying it. However, we do not realise that our home too needs protection in the form of insurance and is rarely the cover to figure on our buying list. Unforeseen situations like burglary, fire, earthquake, […]
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Why you should buy a Top-up Cover in addition to your regular Health Policy?
- December 16, 2019
- Category: Insurance
Ask any individual about their health insurance coverage and the basic sum insured would typically range between Rs.2-5 lakh. This primary cover does not usually prove to be sufficient with passing age and increased health care costs. Any lifestyle disease or any complicated medical condition in the future can easily consume the entire health cover in one go. One has to pay a huge sum then from the own pocket. Health insurance cover thus needs to be reviewed at regular intervals and should be enhanced, especially after crossing 40. So, how do you increase insurance coverage at optimal costs? This […]
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When a six month Emergency Fund may not be enough?
- November 15, 2019
- Category: Financial Planning, Life Planning
An emergency fund is an essential buffer to tide over in unforeseen circumstances. You need a safety net when life throws those harsh bouncers at you. Most financial advisors advocate an emergency fund equivalent to 6 months living expenses. Living expenses here include only the necessary costs such as grocery, utility bills, EMIs, insurance premiums, children’s school/tuition fees, etc. While 6 months is taken as a rule of thumb, it cannot be a blanket solution as personal situation varies from individual to individual. Here are a few scenarios which if relevant to your financial life would require you to beef […]
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When should you not quit your job even if you badly want to?
- October 14, 2019
- Category: Career
Got Monday blues like Garfield? Do you feel like you are dragging your feet to work? If yes, then I am sure the thought of quitting job may have crossed your mind multiple times. You may be seeking some kind of validation from your family and friends. But quitting is not the right choice always. If you quit for the wrong reasons, you may find yourself aimlessly job hopping and could affect your income earning potential in the long run. So, it is imperative to do a close introspection first to understand where the problem lies. Here are a few […]
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How can you create a separate Vacation Fund for frequent getaways
- September 6, 2019
- Category: Financial Planning
Think about regular recurring expenses and travel has become one. Frequent getaways are common today for the millennials to unwind. This is unlike the older generation which waited till retirement to plan an international trip or travelled just once in a year. Today, short vacations are common, be it an adventure trip or just relaxing in a resort. These are undertaken 2-3 times in a year and the cost of these short trips start from a minimum Rs.20,000 each. If one stays in a more than decent resort, the cost can go up to Rs.50,000 for a family of four. […]
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The High Cost of delaying your Retirement Planning
- August 14, 2019
- Category: Retirement Planning
Being human, we all procrastinate from time to time. We give less importance in our priorities to tasks that are unpleasant or far into the future than those which are rewarding and confronting us today. Similarly, we tend to put off painful but important financial decisions like saving for retirement, compared to funding for an immediate and rewarding goal like vacation. As James Clear says in his best-selling book Atomic Habits- the human brain is evolved to prioritise immediate rewards over delayed rewards. That is why saving money for continuous 15-20 years for retirement fund before your actions deliver the […]
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How to Financially survive a Layoff?
- July 12, 2019
- Category: Financial Planning
With India’s top airline Jet Airways going bankrupt, thousands of employees were laid off. Layoffs today are for real. Be it in a small entity or a big business with giant market share. Whether a company is in financial distress or wants to cut costs or simply not satisfied with the performance of its employee, the writing on the wall is not obvious. One can never be prepared for a job loss. Not mentally. And 99 per cent are not prepared financially either. The thought of a pink slip would not even cross the mind when the going is good. […]
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Top Financial Mistakes Parents make with their Kids
- June 13, 2019
- Category: Financial Planning
Click to Enlarge While parents always have the best intentions for their children, their instincts at times do not prove correct to take the best decisions for their kids. Be it sheer ignorance or guilt or over-protectiveness, parents many a times commit financial blunders which can prove expensive in the long run. There are universal errors that parents with children of all ages make. The only difference is the older the child gets, the less time a parent has to correct it. Here are a few crucial mistakes which every parent should avoid: Buying Life Insurance for Child: When it [...]
