The 2 distinctive features of Indian Culture in contrast to western culture are 1. Indian Culture is all about we, us & ours instead of i, me & myself 2. Marriages in India are not between 2 individuals but between 2 families But times are changing and law provides equal rights to all. After wedding, Husband & Wife might have difference of opinion on many topics. Most of my readers, send query on how to marry personal finance after marriage. In my opinion, settling personal finance after marriage is major bone of contention specially if both Husband & Wife are working. It's ... Read More
How to Handle Job Loss
Pink Slips or Job Loss was western Phenomena few years back. In this globalized world, Job Loss is now a reality in India. On daily basis we watch News about Job Loss across sectors like Telecom, Media, Banking, Automobile etc. Job Loss is more of Financial Setback then Emotional Setback. Situation gets worse if an individual is servicing loan/s like car loan, home loan etc or he/she is sole earning member of family. We Indians live in a superficial world. We always think that nothing can go wrong in our lives till harsh reality is standing in front of us or staring at us. If anything goes ... Read More
Misleading Mutual Fund Ranking
Mutual Fund Ranking is a big business. Many reputed Personal Finance Advisers and international rating agencies release Mutual Fund Ranking Periodically. Why it's a Business because these ratings can make or break the fortune of any Mutual Fund Scheme. Mutual Fund Ranking is predominantly decided based on past performance of 1 Year, 3 Year or 5 Year. There is no rocket science in this. I can also publish my own version of Mutual Fund Rating for my readers. As per SEBI guidelines it is always mentioned for equity linked products that "Past performance is not an indicator of future outcomes". ... Read More
5 Points to Consider While Buying Insurance Policy
We Indians buy Insurance Policy not for financial security but for investment purpose. This defeats the whole objective behind Insurance Policy. Not only buyer but seller is also responsible for this mis-selling. In past I wrote article highlighting, how mis-selling is rampant in Financial Sector (To read click here Beware of Relationship Manager / Personal Banker). We have to keep in mind that we are responsible for our investment/financial decisions. The Relationship Manager who is selling the Insurance Policy has vested interest behind the same. Before making any decision to buy Insurance ... Read More
Why You Should Not Invest In Post Office Savings Schemes
Post Office Savings Schemes are very popular in small towns though these schemes have lost relevance in big cities. I remember “National Savings Certificate” popularly known as NSC was most preferred investment avenue for my parent’s generation. During those days not many financial instruments were available for investment cum Tax Savings. Secondly, the biggest plus point for Post office Savings Schemes is trust factor because of Govt of India backing. Despite have some of the Best Financial Products in the portfolio, it is not recommended to invest in Post Office Savings Schemes…Let’s find ... Read More
How Credit Card Limit Help to Improve CIBIL Score?
As i mentioned in my previous posts that CIBIL Score is becoming increasingly important to avail any kind of debt. CIBIL Score less then 750 is fatal. Many readers requested me to write articles on How to improve CIBIL Score. This article is 1st in series on how to better your CIBIL Score. If you are carrying a Credit Card, First and foremost discipline is to pay credit card dues on time. Many times credit card provider offer to increase Credit Limit on Credit Card and we refuse. Reason, we think that current limit is sufficient for current needs. This is disastrous for CIBIL Score. Normally ... Read More
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