June 18, 2013 17:56 (IST)
In current times of high medical inflation rates, failing to hold adequate amount of health insurance cover can prove to be a major personal finance disaster.
June 18, 2013 12:16 (IST)
The problem with the financial planning is that it is based on the observation of a rear view mirror. While this is a valid way of predicting future, your planning should not be based solely on past data.
June 17, 2013 19:46 (IST)
A depreciating rupee against the dollar means the cost of education in the US goes up, indicating that the student may have to borrow extra to fund his studies.
June 17, 2013 14:20 (IST)
Poor track record when it comes to paying credit card dues, compulsive job hopping and a residential address on the defaulters' list are enough reasons for a bank to turn down your loan application.
June 14, 2013 18:17 (IST)
When you apply for a loan, banks judge your ability to repay on numerous counts including your age, income, job stability and your credit report, which is a reflection of your true credit worth. You need to understand why this is the case so that you prepare yourself to submit a good application and ensure a strong credit profile which will help you obtain your loan without any hassles.
June 13, 2013 14:51 (IST)
An EMI, or equated monthly instalment, is a certain amount of money that is payable by you to the bank (in case you have taken a home loan) in order to obtain legal possession of the house.
June 11, 2013 17:27 (IST)
The recent press release by PFRDA for NPS (private) for non-government employees showed sound double-digit returns by NPS funds (weighted average returns of schemes of six fund managers). This is far higher than the under 9 per cent returns that EPF or PPF delivered.
June 11, 2013 16:04 (IST)
A credit score is generally a three-digit number within the range of 300 and 900. Higher the score the better it is. This score will reflect information from several lenders and across various loans.
June 10, 2013 17:11 (IST)
For many of us, increasingly busy lifestyle and lack of knowledge prove to be a hindrance in choosing the right investment product. Mutual funds offer professional investment management for such individuals at an affordable cost.
June 10, 2013 14:36 (IST)
Everybody makes mistakes. The repercussions of a mistake could be trivial or grave. Financial mistakes are one such blunder that can create big problems if they are not resolved immediately. Suppose Mr. X has planned for retirement at 60, and by mistake he forgets to consider the erosion of money value due to inflation. What would be the outcome at the time of his retirement? The retirement corpus would be peanuts. So let's discuss important financial mistakes we should avoid:
June 08, 2013 19:51 (IST)
Most people use their bonus money carelessly in buying gifts or taking vacations and fail to utilise the same, which can otherwise be employed to enhance ones financial condition. Contrary to the popular belief, it is quite a trying task to plan out the expenditure of surplus funds when they are actually received.
June 08, 2013 10:43 (IST)
A disciplined approach towards saving and sensible investing choices will take you to your first crore as long as you allow compounding to do its magic.
June 07, 2013 10:26 (IST)
The main difference between fixed deposits and inflation indexed bonds is the principal adjustment and interest payment.
New Delhi | June 05, 2013 18:41 (IST)
Similarly, the penalty would be between Rs 10,000 to Rs 1,00,000 for furnishing incorrect information or failure to file the collection statement within the due date.
June 03, 2013 18:29 (IST)
The PPF is one of the rare investments that enjoy the EEE status (exempt on investment, interest earned and maturity proceeds).
June 03, 2013 10:35 (IST)
The earlier you do your retirement planning, the greater will be your return on investment.
May 31, 2013 16:02 (IST)
The EPF (Employees' Provident Fund) is the most popular investment for salaried individuals, and is maintained solely by the Employees' Provident Fund Organisation of India (EPFO). As a rule, any company having more than 20 employees has to register with the EPFO.
May 30, 2013 18:11 (IST)
On the face of it, the EMI option appears attractive to individuals who cannot afford a high-end phone but would like to own one. At a deeper level, individuals usually fall for such offers because they are looking for instant gratification.
May 29, 2013 10:39 (IST)
You can also claim tax benefits for insurance premiums, medical expenses, higher education, donations, disability, etc.
May 27, 2013 15:17 (IST)
Prioritizing our goals and planning ahead defines the personal finance readiness of middle-income salaried professionals in terms of achieving our future goals.