Mr Krishnan aged 28 years is a software engineer and is employed in an  IT Company at Bangalore for the last four years. He got married two years back and is blessed with a daughter who is six months old. He faces financial difficulties. Mr Krishnan is not alone in this situation and there are many like him in other IT Companies who faces difficulties in managing their personal finance.

What has gone wrong?

He like many of his friends used to get weekly compensation and got no guidance what to do with the good amount of money. Saturdays and Sundays being weekly holidays provided enough time to spend the amount along with the collegues.The attraction was the local premium bar located in the street corner.The weekly net compensation gets emptied out in two days. Wonderful times!

How to reduce your electricity bill?

How to reduce your electricity bill?

Households are confronted with rising electricity bills. The higher bills are due to;

  1. Higher consumption of units
  2. Rising unit rates charged by the distributor(s)

At individual level, we can not do anything about the unit rates being charged by the distributor(s), which is beyond our control. But we can analyse on the consumption and take steps to reduce the bill amount. The first step is analysis on the monthly consumption pattern and comparing the consumption to same months of previous years. It is natural that the consumption will be higher in the summer months of April and May. In case of very high bills in any month, it should be taken up with the distributor for any mistake in billing. The next  step is to educate the family members about the need for switching off lights/fans/AC/geysers etc when not in use.The next one is to have a look at the appliances. This is because the types of bulbs we use. You must know the types of bulbs used and their efficiency.

Super Top Up policy : Optima Super

 Super Top Up policy :Optima Super 

Apollo Munich Health Insurance

 

What is a Super Top Policy? 

Super Top policy allows you to enhance your sum insured as per your need at a lower cost. Under Super Top Up Policies, claims will be paid   where the medical expenses exceed the deductible amount selected by you. 

 

Follow the basic Principles in Investment

The single party majority verdict in the recently held parliamentary election and forceful promises made by the Prime Minister to improve the economy has triggered bullish rally in the current share market. Once the economic policies of the new Government get implemented and investment cycles start kicking, the market may reach new heights.

Many retail investors have abandoned the equity market earlier. But it is right time to invest in equity now. The current situation provides an opportunity where the probability of market going up is high vis a vis the downside risk.

Online Term Insurance Policy from LIC

LIC’s e-Term is a regular premium “on-line term assurance policy” which provides financial protection to the insured’s family in case of his/her unfortunate demise. This plan will be available through on-line application process only and no intermediaries will be involved. It is much cheaper to off line plans.

INVESTMENT in EQUITY MUTUAL FUNDS

Best Funds

If a fund is holding more than 65% of equity, it will be treated as Equity oriented fund.Here we have taken six categories of equity fund schemes.  

Large cap funds

In large cap fund, the fund manager invests more than 80% of asset in large cap companies.

Closing of Financial Year is two days away and you may like to view your Tax Credit (TDS) statement (Form 26 AS) on TRACES portal of Income Tax department to check your TDS and compare it with your tax liability.

Family Office

Outsourcing family’s financial management

Managing personal finance have become challenging due to lack of time,expertise and complexity of financial products. A family office is an exclusive outsourcing arrangement which deals with management of personal finance and wealth of high net worth individuals, business houses and their family. This relationship usually stretches beyond the lifetime of an individual, extending financial guidance to subsequent generation of the family. The family office is manned by trustworthy, competent and qualified professional(s). 

Women need Financial Planning

Traditionally women are better at managing family’s budget and are more concerned about children’s education and marriage. We find women groups take to streets when prices of vegetables and other essential items increase beyond tolerable levels. Nowadays increasing number of women are opting for career in regular jobs. It provides them opportunity for financial independence. It’s a high time for women to take control of their finances for the numerous reasons; 

 (1) Increasing divorce rates – India is witnessing a surge in divorce rates and therefore entrusting your spouse with financial matters can land you in a money crunch. It is prudent to keep a tab on your monthly investments and determine holdings in your name, so as to avoid financial complications later.

  • How much experience do you have?  

    Financial planning involves understanding of investing behaviour, risk profile etc and the more the experience of the Financial Planner, the better. Hence experience should be a major driver behind your decision.           

  • What are your Qualifications?    

    A suitable qualification such as Certified Financial Planner and SEBI Registered Investment Adviser are desirable which indicates the Planner is serious of   his/her profession.   

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