You can change your financial health in year 2022

Our financial health defines the way we live. At any given time, financial health matters 60% of our living. Whatever be the situation, we can always change it to our favour. In this New Year you can definitely change your financial health, if you follow the steps given below. #1 Find out where do you stand It is very important to know where we stand financially as on date to make an improvement. This can be done by looking at two aspects. Income versus expenditure First and foremost at the beginning of the year, understand your income. It may be …

Pension Plans in India

Traditionally all employees in Government sector in India were covered under “Defined benefit Pension” (DBP) plan. Under this plan, the Employer subscribes to a pension plan and contributes funds so that the employees on retirement get a defined amount till he or she survives. Every year the pension benefits of the future that have to be paid from this plan are calculated and the amount that needs to be contributed to the policy to fund the projected pension amount. It is a secured pension plan for an employee as he or she can calculate beforehand the eligible amount based on …

ALTERNATIVE INVESTMENT OPTIONS

In general we invest in financial products, house, land, gold etc. However there are many other alternative investment options which one can think of. Alternative investment options are equally lucrative and rewarding though associated risk are different. Let us look at these alternative investment options. Real Estate Investment Direct investment in real estate is when one purchase/invest in physical house property. However, there could be investment in real estate sector by some other methods like, a) Real Estate Mutual Funds: a real estate mutual fund typically invests in securities of companies which own property (commercial, residential, agricultural or land). Some …

Budgeting for more money

Most of the time we don’t get an opportunity to do a planning for monthly income & expenses as expenditures are on continuous basis and demanding.  The process of doing a planning for expenses based on monthly income is known as budgeting. If we do budgeting it is possible to meet our needs even if the income is limited.   Type of family expense The expenses in a family have two parts – variable and fixed. The variable expenses can be decided upon whether to incur or not but fixed expenses has to be incurred in any situation to maintain …

Cryptocurrency, Bitcoin & others

Off late, cryptocurrencis getting lot of traction due to recent spurt in value of Bitcoins and others. Though conceptually it is not new, many people are yet to get a hang of it.  What is it? Is it going to stay? Is it going to be an alternate payment method? Is it going to be legal in all respect? Are we missing out an opportunity? These are the questions crossing minds of people who know about it. Before we take a call on all these question let us first understand what it is?  What is Cryptocurrencies ? It is derived …

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. …