Financial Misjudgement is very common during the lifetime of an individual. It may be due to ignorance or lack of awareness. The minor financial misjudgement can be corrected easily and does not have a too much financial impact. On the other hand, financial misjudgement in some of the major financial decisions can push you couple of years back financially. Financial awareness is one of the weak areas in India. In some of my posts, i even suggested to include the basics of personal finance in school or college curriculum. As an individual, we have very limited resources to invest. India's ... Read More
CIBIL Masking – All you want to know to avoid being cheated
CIBIL Masking is nothing but an offer to defaulter to clear all the past dues along with penalties and interests. The past dues or outstanding loans are either written off or settled in the CIBIL report of a defaulter. If borrower accepts CIBIL Masking offer then the bank promises to remove Written-off or Settled Status from the CIBIL Database. To know more about these 2 terms, please check my post, CIBIL Score - 7 Jargon you should know to read CIBIL report. Before we proceed, i would like to request the readers to understand your CIBIL report before taking any decision or action. The ... Read More
Financial Secrets – Top 5 you should not share with anyone
Financial secrets is a bad word. Financial planners or experts suggest that Financial secrets can KILL any relationship. I agree but only if the intent is financial infidelity. Sometimes Financial secrets are good if the intent behind the same is good and may prove to be healthy for any relationship. It's NOT a Secret that Money can be both blessing and a curse. It is one of the three key reasons for all the disputes/crimes in this world. My blog cover two such reasons i.e. Money and Property. The third one is women. Some blogs are dedicated to relationships including that of one of my good ... Read More
Private Lending – Beware of 5 Points Before You Borrow
Private lending is most suitable for the borrowers who don't have any other option left to borrow. There can be multiple reasons like urgent fund requirement, emergency or loan rejection due to CIBIL Score, Loan eligibility, Income, etc. Whatever be the reason, it is important to understand the concept of private lending before commitment. In almost all the cases, private lending is backed by the collateral of equivalent value. Therefore, private lending is not guaranteed if you don't have any asset or holding to put up as a collateral. Private lending is more popular in small town, cities, ... Read More
Joint Life Insurance – Check Out the Details Before You Buy
Recently during a casual discussion, one of my readers told that he has opted for joint life insurance cover. Out of curiosity, i asked him the reason for same. He told me that it is cost effective. He bought joint life insurance with his wife. I was actually stumped. This guy availed home loan and was looking for a term insurance to cover the home loan. The insurance agent pitched for joint life insurance and he happily agreed. I was wondering, how can someone buy an insurance just because it is cost effective. He has not checked all the features of the policy. It means insurance company has ... Read More
Married Women Property Act – A 360 degree protection
Married Women Property Act - I am sure, not many people have heard about this act. I was under the impression that lawyers must be aware of Married Women Property Act but i was wrong. Recently, i was discussing a case with one of the lawyer (I am not a lawyer). I shared reference of Married Women Property Act from a personal finance perspective. He was clueless on the same. Anyways, there can be multiple reasons for the same. Only info available on the web is related to section 6 of the Act. In other words, people know about this act because of section 6. Any insurance policy under section 6 ... Read More
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