Snowball your way out of Credit Card Debt What if one happens to run a high debt on a card that also has the highest interest rate? In that case, it will be frustrating to notice multiple credit card loan accounts remaining active – even after years of debt repayment.
How to Make Saving Money a Family Fun Game Saving need not be a boring activity where you grudgingly knock off your expenses and live sparingly to achieve your savings goal. It can be fun if your family joins hands. Using creativity can make it much more interesting.
Why you should aim to increase your SIP by 15% each year Increasing the SIP amount each year by even 5% can have a dramatic effect on your final goal amount. A 10% increase means achieving 7 lakhs more (or the price of a hatchback). When the increase is 15% the result is a corpus that’s three times bigger.
How to avoid too much debt in your 20s? Here are just four things you need to keep in mind to ensure you don’t go overboard with your loans.
Have a nominee for your financial securities? Do you also need a will? It’s often perceived that a nominee replaces a legal heir, however, a nomination by itself does not guarantee ownership. Given this situation, there is merit in thinking through the succession process for assets and bank accounts you own before any unexpected tragedy.
Financially supporting your adult children. Does it make sense? While providing emotional support to kids is a lifelong activity for parents, financial support needs a boundary, lest it jeopardize your retirement goals.
Vacation on EMI? Why not SIP instead? Should you indulge in something you cannot afford or perhaps make an effort to ensure that you can afford it? The former can take you from not worrying about affordability to complete financial distress if EMIs become a habit.
Moving Abroad? Keep these financial factors in mind for a smooth takeoff As you embark on a new journey, follow these financial tips for a smooth transition.
How many mutual funds, in the same asset class, is too many? The dilemma is not only which funds to pick for your portfolio but also to know when to stop adding.
How to own a flagship smartphone every 3 years without credit card debt Considering the importance of this device and how much of our lives are on our smartphones, it could arguably be prudent to invest in the best ones you can. However, considering that the premium ones cost almost as much as a bike, many of us often rely on our credit cards to buy one.
The nine levels of financial freedom you should aim for Most of us associate financial freedom with not needing a job. But while a complete retirement may be a few years away, here are nine levels of progress that you can measure yourself against.
Wish I had learnt these 6 finance lessons in school Frankly, I just wish I had learnt these simple finance lessons in school – it would have definitely given me a significant advantage in life and would have helped me avoid several mistakes (and I would have been far better off, than I am today).
