How not knowing Emergency Funds makes you a Rookie
What if you lost your job or got injured? How would it affect you financially? ‘Emergency funds’, well the word says it all. It’s a fund used to meet your emergency needs. Many people do not know the meaning of emergency funds. They do not realize the importance of having one. Emergency funds are kept so that when an unplanned event occurs, there are funds available to pay...
5 Things To Do In The New Financial Year
The beginning of the new financial year is a good time to analyze your investment and assess where you stand, so that you can see your year-end financial issues. It is also a good time to assess your insurance plan and your tax planning. If you start planning right, at the beginning of the financial year, then you can have peace of mind, for the whole year ahead. So, today we will discuss...
Contingency Planning for Business amid current Pandemic
Given the widespread outbreak of the coronavirus (COVID-19) around the world, radical actions are being taken by the governments and authorities. Country lockdown owing to this pandemic has caused widespread impacts on employment, supply chains, capital markets and more. It is now a necessity for the businesses to take actions. This is required to mitigate risks, tackle immediate priorities...
New Tax Regime Vs Old Tax Regime
In the Union Fiscal Budget 2020 unveiled by the FM, Nirmala Sitharaman announced a new and simplified income tax regime with revised income tax slabs and tax rates. This new tax system is optional to the taxpayers and it is not mandatory to opt for a new tax regime. To put it simply, the assessee can either choose the New Tax Regime or continue to follow the Old Tax Regime depending on what...
Why To Choose MF’s Over Pension Plans?
Retirement planning is absolutely necessary so that you have a corpus at hand when you retire and need funds to meet your lifestyle expenses. As you plan for your retirement you have to factor in many questions like, how will you streamline your debt? Or how will you arrange for your medical bills? Or probably other aspects like estate planning. As individuals, we want a comfortable and...
Impact of COVID-19 on your Retirement Planning
Coronavirus outbreak has impacted the entire world in more than one way. Every human being has felt the effects of covid-19, be it socially, financially or on health. COVID-19 cases crossed 19 lakhs globally and around 1.25 lakhs turned fatal. In India, the number of cases is in control but still has in 3 weeks crossed 11,000 mark from just 550. The growth in covid-19 cases is increasing...
Importance of having a WILL during this Pandemic
Protecting your assets and your loved ones has always been the first priority when one starts to plan their finances. The first step should be the protection of wealth and then the accumulation of the same. It is vital to realise how important it is to have a WILL. In India, majority of people think that they are immune to any unfortunate event. Ask those who have suffered. We have...
5 Financial Planning Mistakes To Avoid While Investing
Do you think just putting money in some investment products and getting income tax exemption is the meaning of financial planning? I am sure, many people around you actually think this is all about it. When I got my first salary, I started getting advice from my father and relatives to start investing money in small portions. In fact, many of my friends even started suggesting me some...
10 Personal Finance Tips for New Professionals
Earning income is not enough, investing and rerouting such money is most important. New professionals are mostly in the range of 20s. This is just the beginning of personal finance and if better financial planning is carried out at this phase, it would yield amazing results. This article will show how the young professionals who have just started their careers, should handle their personal...