Points to consider while investing in Mutual Funds
SIP – Systematic Investment Plan, one of the most popular modes of investments in Mutual Funds. It is good to see how people are becoming aware of the investment options available to them. There was always this wrong idea people had with SIPs ‘That it’s meant for only the rich’. No one becomes rich overnight, unless you’ve won a lottery or a game show. What are...
4 Important Financial Lessons Learned From COVID-19
The coronavirus has spread like a fire globally. This pandemic has taught us not one but many lessons. As it is always said, any experience teaches you some lessons. It is up to us whether we understand it or just ignore it. In this blog, we will focus on the financial lessons we learned regarding our personal finances from this deadly virus – COVID19. The pandemic has also dealt a huge...
Useful Tax Saving Tips For Financial Year 2020-21
Saving tax is always at the forefront of every taxpayer’s mind. That is why individuals look at legal avenues to lower their tax liability. Thanks to the Income Tax Act provisions, there are ways in which an individual tax-payer can lower his tax outgo. The provisions provide for tax deductions and tax exemptions from the taxable income. These deductions and exemptions reduce your tax...
How Much Life Insurance Do You Really Need?
If your family member or anyone depends on you financially, Insurance is a must have product in your portfolio. When it comes to insurance, there are various types of policies with varied benefits and features. Which is the most beneficial policy for you? How much insurance do you need? These are few questions that need to be answered before buying a life insurance...
8 Common Investment Mistakes You Must Avoid
Strategies of wealth management are some basic fundamentals that everyone should be aware of. The power of intelligent investment in the creation and multiplication of wealth is indisputable. However, many of us are not aware of some basic flaws that every investor might fall prey to. We often treat terms associated with investment strategies as financial jargons meant only for the erudite....
Why is risk profiling important in financial planning?
In the recent market situation when the Sensex was down by approximately 30-35% in a month’s time during the Feb –March 2020, many of us felt uncomfortable looking at the negative returns. The Sensex fell from around 40,000 marks to a steep low level of around 26000. Now the market has already recovered partially and is at a level of 33,000. But this entire situation of volatility in the...
Everything You Need To Know About AUM
There are a few things you should know about before investing in any mutual funds. AUM, which stands for Assets Under Management, is one of those things. AUM is one of those key points that you should look into before investing in a mutual fund by any finance-based establishment apart from the expense ratio, their overall reputation and other basic requirements. Say you are planning...
Understanding Mutual Fund NAV While Investing
Mutual funds are an attractive avenue for investing your surplus cash. They are affordable and they also promise good returns in the long run. Moreover, there are various types of mutual fund schemes which you can choose as per your risk preference. The growth of a mutual fund scheme is measured by the change in its Net Asset Value (NAV). NAV is a very important concept in mutual fund...
Why the need for Form 26AS?
Form 26AS is a consolidated annual statement which has tax credit related information. This statement contains detailed information on tax deducted from the income received by the taxpayer as well as tax paid (challans) in the nature of advance or self-assessment tax. This statement will also contain refund details if any pertaining to the PAN of the taxpayer. This is a very important...