"This festival season welcome a new member to your family" read one of the advertisements in today's newspaper. From the first glance, i thought it to be an ad for some maternity home or matrimonial website. Surprisingly, it was an Advertisement of Car Loan from one of the leading banks in India. During my childhood, the car was luxury/aspirational/premium purchase. For 9 out of 10 households, the first car was Maruti 800. During those days, the car loan interest rate was too high. If i remember correctly, my father took car loan at 18%. The marketing was focused around "upgrade from 2 ... Read More
Investment Options – 7 High Risk Options Retail Investors Should Avoid
As a retail investor, we have ample Investment Options. It's a no-brainer that high risk means high return. Unfortunately, it also means that you can also lose your capital. While writing this post, I was in a dilemma to decide the title of the post. The confusion was whether i should keep a title High Return Investment options or High Risk Investment options. The phrase high return investment options capture more eyeballs but i decided against it. My personal investment philosophy is that capital protection comes first. In short, without losing capital or money, how to maximize returns? This ... Read More
Variation In Credit Score – Approach The Credit Bureaus For Correction
In India, you must have heard people in Photocopy shops saying "Give me a Xerox of this document". Even on the signboards outside the shop, you will find "Color/B&W Xerox facility available". In other words, "photocopy" means "xerox". Not many people are aware that Xerox is an American company pioneer in photocopy products. Similarly, In India, Credit Score means CIBIL Score :). Not many people know that CIBIL is one of the 4 Credit Bureaus operating in India. According to Wikipedia, Credit Bureaus are the collection agencies that gather information from creditors and provide that ... Read More
Health Insurance Premium – 11 Ways and Tips To Save The Premium
Most of the policyholders are not aware that health insurance premium is dynamic in nature i.e. it keeps changing every year. If you buy term insurance or life insurance plan then premium remains fixed for the policy term. The reason being life insurance benefit is one-time payout i.e. sum assured is paid only in the event of the death of the policyholder. On the other hand, health insurance benefits are recurring in nature i.e. I can avail the benefits multiple/any no of times during the policy term. Therefore, for an insurance provider, health insurance is high-risk policy and is dependent ... Read More
7 Tried and Tested Tips To Save Medical Bills or Healthcare Cost
Medical Bills constitute 7% of the Indian Household expenditure. I am referring the same study that i shared in my post on utility bills. For example, if my monthly income is 1L. In this case, on an average, i must be spending Rs 84k during a year only towards healthcare or medical bills. A couple of years back, i pulled out my medical bills and healthcare cost was approx 10%. I decided to cut down on my medical bills. You must be wondering, why medical bills do not pinch. The reason being, in India people don't mind spending on 3 major heads Education Healthcare Marriage Under ... Read More
Credit Report – 5 Important Factors That Decides Your Credit Score
Credit Report is one of the biggest mysteries for borrowers or loan seekers. There is a common misconception that Credit Report is based on some mathematical calculations. The answer is No, It is not correct that credit report is only based on mathematical calculations. The credit score in a credit report is based on the calculations. But no one knows the formula of these mathematical calculations. Your credit report reflects the credit behavior and credit score is one of the criteria. The loan/credit approval is decided by the mix of credit score + credit behavior. Sometimes high credit ... Read More
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