Seven product combinations for different financial needs

A variety of ingredients come together to make a complete meal. In personal finance too, it's about getting the mix right.  Here are seven product combinations for different financial needs for you to consider. 1. Tax Planning ELSS + PPF + NPS When choosing products under Section 80C, opt for a mix that will not only help you preserve capital and save tax, but also make your wealth grow. ELSS gives the benefit of superior wealth accretion...

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5 Retirement Planning Mistakes and How to Fix Them

It's not too late to fix a retirement planning mistake. No one's perfect. If you've messed up your retirement planning, here's how to get back on track. The average 65-year-old man retiring this year can expect to have another 17 years of living in front of him. For a woman, that number jumps to 20 years.  That’s a lot of time to travel the world, enjoy hobbies and make memories with family and friends. On the other hand, it can...

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Consider These 7 Things Before You Invest

Investing and planning for the future can be a daunting task. There are so many factors to consider in creating and managing your portfolio, and you may find it difficult to find a financial professional you trust for unbiased advice. Every investment decision has an upside and a downside. Know your risk tolerance before choosing an investment vehicle. Below are seven considerations to help prepare you to make investment decisions and...

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Never fool yourself into confusing "Speculation" with "Investment"

Why do you suppose the brokers on the floor of the Stock Exchange always cheer at the sound of the closing bell - no matter what the market did that day? Because whenever you trade, they make money - whether you did or not. By speculating instead of investing, you lower your own odds of building wealth and raise someone else's. According to Benjamin Graham “An investment operation is one which, upon thorough analysis, promises safety of...

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Credit Card Terms you should know

If you are new to using credit cards or have been using one without knowing what a bunch of things mean on the credit card statement, get started here. Credit limit This is the maximum amount of money that you can swipe/borrow on your credit card. It is a pre-stipulated amount that is fixed by the card issuer. If you display good credit behavior, your credit limit may be enhanced by the lender, but do not use it as an excuse to become reckless...

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6 Awesome Simple Ways to Save Money

Saving money is one of the hardest thing to do especially when you just started also it easy to find tips to learn how to save money. When it comes to real time savings we are not talking about saving in the purse but it will also help to save money real time. 1. Make a Budget It always great to create your budget of the specific things you need or want to get. Also budget will help track and control your spending to avoid over spending and...

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9 Money Lessons You Should Teach Your Kids

While you teach your kid about the social norms and guide them through their life, it’s important that you also teach them about the importance of money and how to value it. Here are a few lessons you can teach them very early on. 1: Patience is a virtue The very first money lesson that you can teach your kid is “it pays to wait”. Your kids are smart and sharp; they know that you probably have enough money to fulfill their demands. Whenever...

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6 Investing Lessons from the Richest Man in the World - Warren Buffett

Warren Buffet is no stranger to the world of investing. There’s a lot to learn from the most successful man in the world of investing. Here are six lessons from Warren Buffett that you can use to invest better. 1: “If you buy things you don’t need, you will soon sell things you need.” You can make more money not only by investing or taking up a second job, but also by resisting the temptation to go out and just splurge. As the saying...

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