The good and bad decision of buying a house

Buying a house property is one of the most delighting experiences in life. However, it could be both a good or bad decision. I would like to draw your attention into other dimensions related to purchase of house/flat. It is touchy still you can question – do you need to buy a house? Any individual and especially couple dream of owning his or her house and live in a dream home. In the process they lock up substantial money in constructing or buying the house. Many justify it as a secured investment, tax benefit, a shelter for any eventuality etc. …

Credit Score is your new identity

Digital world has set credit score as your new identity. A credit score is a three-digit number that depicts a consumer’s creditworthiness. The higher the score, the better a borrower looks to potential lenders. The credit score also comes with a report which carries information like number of loan accounts, history of taking loans/credit, repayment track record etc. The potential lenders use credit scores to evaluate the probability that an individual or a firm will repay loans in a timely manner. In other words whether he or she or the firm is worth giving loan/credit. What is a Credit Score? …

Retirement Planning for peace

An individual cannot work perennially to earn his income, especially the salaried class. Therefore he or she has to do retirement planning while young and active. Retirement planning is very important for peaceful life post-retirement. What is Retirement Planning? Retirement planning is a process of creating a fund over a period of time which will give desired income after retirement. There is a method to arrive at the estimated income that you would reach at the time of retirement, based on your current income. Once you arrive at the pre-retirement income, you need to calculate how much money you need …

Financial planning for wealth creation

In any sphere of life, prior planning helps to get maximum results. Our personal finance is no different from it. Therefore financial planning is very important for wealth creation. Before we discuss financial planning, let me describe the 5 (five) financial life cycle of human life. The Alpha stage In this stage an individual starts earning an entry-level income. He or she is young and has just started earning a regular income. The expenses in this stage tend to be just about as high as income, leaving small surplus funds to save. The Bravo stage  In this stage he or …

Gold price is soaring, will your gold glitter?

Gold was discovered in its most basic and natural state – in streams and in the ground of the ancient world – and gold is one of the first precious metals known to mankind. As a natural response to its beauty and rarity, gold became a symbol of royalty and glamour in nearly every culture that was able to obtain it. Its brilliance and resistance to tarnish made the precious metal an ideal jewelry-making commodity, and eventually a viable currency. Therefore all families irrespective caste, creed, religion prefer to possess gold as one of their assets. Many of course do …