In my previous post on Credit Cards Credit Card - SAVE while you SPEND , i highlighted, how a judicious credit card spending help in substantial saving over a period of time. In this post i will discuss, how we can increase our savings by juggling between 2 credit cards. Yeh Dil Maange More !!! I am using the HDFC bank credit card from last 8 years & not using any other credit card as of now. Based on my research, i found that i can afford 1 more credit card without impacting my CIBIL score. Please note that if you have more than 2-3 credit cards then it shows credit Hungary ... Read More
Mis-Selling of Personal Loans by Banks
Mis-selling is very common in Financial Sector. I was under impression that it's is restricted only to Insurance but to my surprise its deep rooted. Mis-Selling of Personal loans is very common. Before we proceed let me add that Mis-selling is the deliberate, reckless or negligent sale of products or services in circumstances where the contract is either misrepresented, or the product/service is unsuitable for the customer's needs (Source: Wikipedia) Last Saturday, i visited one of the well known bank to deposit a cheque. Since it was Saturday therefore there was a big queue and suddenly one ... Read More
Being a Loan Guarantor – Are You Risking Your Future?
Last weekend i was watching the movie "Aarakshan" & was moved by the scene wherein Amitabh Bachchan could not get the possession of his own house during Bad Times becoz during Good Times in order to help the Children of his close friend, he became Loan Guarantor of their Business Loan. Not only he risked his future but also of his family..I think, this topic cannot be explained more simpler then this. Just to add, things in real life cannot be sorted out as easily as shown in the movie. Let us understand this topic in detail, For simplicity purpose i will list down complete details in ... Read More
Why Gold Prices are Rising?
Gold Prices have reached all time high & in near future there is no possibility of drop in Gold Prices, It will increase further...Most of us wonder Why Gold Prices are Rising? Simplest explanation is since Inflation is High and Gold is best Hedge against Inflation therefore Gold is appreciating. Economics calculations are not that simple...Economics is web of complex calculations where each factor is linked to many other & on top of that sentiments are key driver of Economy....In this Post, i will try to explain in simplest possible way "Why Gold Prices are Rising?" despite ... Read More
Impact of Inflation
Recently i received a call from one of my friend working in Pharmaceutical sector, he called me to inform that he got 6% salary hike & was quite delighted with this hike…After phone call i was wondering whether he really got a Salary Hike & the answer is big NO…You must be wondering, Why? Let me answer this but before answering let me ask 1 question..What is Inflation? 99% of people will answer that it’s a parameter or gauge to measure the rise in price of essential goods & services..Fair enough and it’s right also…I searched internet and got same definition almost every ... Read More
Why you should not invest in SIP?
Recently i saw new ad of Max New York Life Insurance on Television, where in they are trying to convey message that they are the only one who are not Mis-Selling financial products & indirectly hinting that every one else is Mis-Selling Financial Products..My 1st impression was that they might have taken cue from my Article "Beware of Your Relationship Manager/Personal Banker" dated April 13, 2012 as i highlighted the same concern through my article..I am sharing the link of that article with the reader's of my this ... Read More