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How to stick to your budget & control where your money is going
- August 29, 2017
- Category: Money Management
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Budgeting is not about micro managing every dime that you spend. (Unless you are like the miserly Uncle Scrooge). It is more about generally being aware of how you spend your money and where it is going every month. Usually, what happens in most households is after the payday, the money is first spent in paying the bills, emis, household expenses, etc. The balance money is not utilised in a planned manner. It is being used on weekends by paying through debit/credit cards when people go out to shop, dine, watch movie. Some of it may go towards investment when […]
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Planning to turn your Passion into a Career? Think hard!
- August 11, 2017
- Category: Life Planning
Love what you do, follow your passion. We have seen this mantra in movies, read about it on the internet & in books. It might have crossed your mind many times to quit your dreary 9-5 job and find a way to make money by doing what you love. There are many start-up stories to inspire which may induce you to emulate many millionaire entrepreneurs. The thing about being your own boss is very fascinating. However, the grass is not always greener on the other side, once you are on the other side. This article is not about discouraging people […]
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Retirement planning in 50s, Is it late to catch up?
- August 1, 2017
- Category: Retirement Planning
Many people ask at what age should retirement planning start. And the usual answer is as soon as possible, no matter what the age. However, nobody seriously thinks of retirement in the initial working years. Then there are many goals to juggle in the 30s like buying a house, car, marriage, children’s education, etc. Retirement thus takes a back seat until people enter the 50s. Do you find yourself in such a situation as you are nearing 50 and have not saved enough money for retirement? Are you worried your retirement nest egg will not be adequate enough? While you […]
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How to manage finances after a sudden job loss?
- July 17, 2017
- Category: Financial Planning
The recent incident where a Tech Mahindra employee was fired over the phone was shocking. In the exit interview, the employee was threatened to quit on a day’s notice failing which he would not get the experience letter and basic salary. Job layoffs are a reality in today’s world. It is not just about the pink slips but the way they are handed over to employees in short periods, not giving then appropriate time to hunt for other opportunities. Job layoffs can happen to anyone and at any age, be it a person in his young working years or top/middle […]
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Common questions you may encounter while e-filing your tax returns:
- July 3, 2017
- Category: Tax Planning
With the deadline for filing tax returns less than a month away, it is time to start making initial preparations. You can download the forms, keep the relevant documents like Form 16, interest statements, TDS certificates, investment, insurance & home loan details in handy. People usually have few doubts while filing tax returns electronically. Here are some common questions answered about filing e-returns: Is listing all bank accounts necessary? The government has made it mandatory to report details of all bank accounts in the ITR form. However, one can avoid giving details of those accounts which are dormant, i.e., not […]
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Don’t get married before this money talk
- June 19, 2017
- Category: Financial Planning
Wedding is the one of the most awaited moments in a couple’s life. Planning for the big day is an experience in itself. The venue, caterers, music, guest list, couture, flowers, etc., there are thousand such things weighing on a couple’s mind. But what theytake for granted is the money part. All they know about each other is roughly the respective incomes before marriage. Money can be a sticky issue later on and many couples are not comfortable talking about it during the courtship period. But it is important to bring it up. Here are 5 important money conversations you […]
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The best gift you can give your parents – Health Insurance
- June 5, 2017
- Category: Insurance
Parents provide everything to their children to the best of their abilities. Time & money, both. They never stop caring even after their children become adults, start working, get married, become parents. They put their priorities first before their own. One of the areas where parents ignore their own basic need is having adequate health insurance as they age. The awareness about this basic necessity is low among the elder generation. Even if they have health cover, it is probably peanuts. The health policy offered by employer ceases to exist after retirement. To hunt for a separate medical policy in […]
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7 things to bear in mind before taking a home loan:
- May 21, 2017
- Category: Banking, Debt Management
One of the important decisions in buying a house property involves taking a home loan. Skyrocketing real estate prices have made it inevitable in India for a common man to fund assets like a home through bank loan. It is prudent to be prepared first before applying for a home loan. Preparation here means not just getting familiar about various facets of home loan application. It also implies financial preparation since you would be taking on a liability in the near future. Some amount of proper planning before getting a home loan can help to avoid rude surprises later. Here […]
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What does financial independence mean to you?
- May 7, 2017
- Category: Financial Planning
Money is called the root of all evil or rather the greed for it. But one cannot argue that money is what makes the world go round and makes our lives comfortable. There are some people who live paycheck to paycheck while there are some who earn sufficient to at least meet their essential financial goals. And, there are some who have truckloads of money but don’t know what to do with it. But how much is enough! That depends upon every individual’s personal situation. No matter what, there is one constant goal, somewhere on the back of people’s minds, […]
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Five reasons to start your tax planning in April
- April 21, 2017
- Category: Tax Planning
You must be heaving a sign of relief after making all the tax saving investments and submitting the tax proofs last month. You would probably deal with the tax saving exercise again during March 2018. For a change, why not start tax planning in the beginning of this financial year. Do not make it a routine exercise of making some random investment in order to avail tax benefits under certain sections. Tax saving requires strategic planning depending upon your financial situation and should ideally start from April 1 of the new financial year. The benefits of an early start are […]
