Personal Financial Planning

How to Create a Budget to Understand Your Spending

Budget is one of the important personal finance tools that helps an individual track and understand his spending. It helps him know where his money is going and what his financial position is. This information is crucial for him to keep his spending under control and helps him save money for financial needs, either short-term […]

Different Types of Life Insurance Policies Available in India

Life insurance is one of the fastest growing financial service sector in India. Currently, there are 24 life insurance companies in India offering various kinds of life insurance policies with many benefits and riders. The main purpose of taking life insurance is to provide financial protection for the dependants of a person in case of […]

Why the Poor, Not the Rich Need Insurance?

Most middle-class people think that insurance is not meant for them. They assume insurance as an unnecessary spending by which they will not benefit. They hesitate to take insurance, even if the premiums are small and put their family in a vulnerable situation when unexpected events occur. This is largely due to lack of awareness […]

Personal Finance is Neither Fun Nor Easy – But Provides Benefits

Many of us want to lead a financially sensible life and save some money for future financial needs. But many of us struggle to manage our money properly. One of the main reasons for this unnecessary struggle to maintain money properly is lack of awareness or no proper guidance on personal finance. Working hard to […]

Simple Financial Thumb Rule – You Don’t Need to be an Expert at Finance and Maths to Understand Money

How do you reach your targeted savings amount? Once you have determined roughly how much amount you need at the end of say 10 years or 15 years, a rough thumb-rule below will allow you to know how much to save regularly to reach your target.

Get Insurance for Adverse Financial Outcomes

In today’s world people are very much familiar with the term insurance. Whether it is for life, health, vehicle, fire, disability or liability, insurance serves as financial tool for securing your life and property. It is a cover used for protecting you and your family from rising unexpected health expenses or certain life outcomes. Simply […]

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Time Value of Money – Money Making Money

Have you ever wondered how you could purchase 500 yards of land at a price of Rs.1000 per square feet, 20 years ago? Now, can you believe that the value of the same land has increased to Rs.8000 per square ft. This increase in the value of land is not only driven by the strong […]

Buyer’s Guide – Medical Insurance

Many people in India don’t realise the need for buying medical insurance until and unless they meet with an accident or suffer from a lifestyle disease or illness. These people realize the need to get health cover after facing the vulnerable situation of high medical bills and hospitalisation payments that are incurred from just one […]

Planning to Purchase Insurance? – Do it Sensibly

In today’s world, insurance is an essential product everyone should purchase. It helps us take care of our financial needs during unexpected emergencies and saves us against financial hardships. Unexpected events may come in the form of a sudden accident, life-style disease, vehicle theft/damage, etc. So, you need to understand the purpose and need of […]

Buy Term Insurance and Invest the Difference

Most of our personal financial gurus for over years advised us – “Buy Term and Invest the Difference”(BTID). It is a concept came into existence in 1980s and still many arguments are going strong on this subject of life insurance and finally the end decision is often made in favor of BTID. BTID represents a […]

Is Your Financial Future in Your Control?

How stable are you financially? Have you thought of your financial solvency? Answer the questions in the quiz to know your financial status.

LITAS Formula – The Five Steps that Control Your Financial Life

There are five stages in personal finance. Most people follow only some of the above steps and in random order and end up having no control over their financial lives. Read this article and find out whether you are following the same order of five steps that stabilize your financial life.

Why Should We Have a Good Personal Budget?

Few people plan personal budgets and spend money accordingly. Some people do not understand the value of doing so and some people who are cautious about their money do so by restricting their spending according to their budgets. Most people purchase things on debt by making impulse and frivolous spending. These people will certainly get […]

Planning to Buy a Luxury Car? Think Twice before You Buy it

Most of the luxuries, and many of the so-called comforts of life, are not only indispensable, but positive hindrances to the elevation of mankind ~ Henry David Thoreau When purchasing a new car, one has two options – a moderately priced functional car and a fancy luxury car. Many people today are willing to spend […]

Personal Finance is All about Making Money Work for You

There are certain principles of money you should understand. The sooner you understand them, the fewer the mistakes you will make with money. There are people who live their entire life but never discover the principles of money, the fundamental rules of saving, investing and spending money. If you understand and follow those principles, you can avoid mistakes and you will be able to deploy your surplus properly.

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