Is No Cost EMI really a free lunch? The short answer is No. No Cost EMIs are just a marketing gimmick to attract the financially under-educated masses. No Cost EMIs are designed in such a way that there wouldn’t be any benefit for the consumer at the end of the deal. Take an example of […]
Tag: Save Money
5 Direct and 4 Indirect Benefits of Credit Cards in India
Do you own a credit card? If not, it’s time to hold one. The are umpteen direct and indirect benefits of transacting with Credit Cards in India. Since, I was a kid I was always taught Credit borrowing is bad while Credit lending as good, since it generates money. But there is another face to […]
How Small Costs Can Add Up To Significant Sum
Let’s say the cost of a cup of Tea (in Hyderabad) or say a cigarette, is 10. And assume, you are consuming once per day. The cost adds up to Rs. 300 per month and Rs. 3,650 per year. If you compound it for next 35 years (assuming your age is 25 and you retire […]
What All You Can Insure in India
Apart from the most common ones like Life Insurance, Health Insurance, Travel Insurance, Motor Vehicle Insurance, House Insurance, there are multiple other things you can Insure if you’re afraid losing. Some of the lesser known facts about the Insurance Industry is they allow you to insure multitude other things like Your iPhone, Your Laptop, Your […]
How to Save Income Tax in India: Salaried Employees
“how to save income tax?” has been an eternal question for me. With changing internal factors (our income) and external factors (income tax slabs) it’s imperative that we keep updated ourselves with latest tax saving strategies to reap maximum benefit. Also, I don’t know what’s with me, I always strive for a zero net tax. […]
Financial Planning in 600 Words: Millennials and Gen Z
I Know that I’m an Amateur and you won’t take my advice on this particular topic of Financial Planning. Hence it’s better to go with experts opinion than mine. Following is the Financial Planning Advice based on an interview with Neil Borota by Groww. Individual Persona: Engineer, 26 Years, Salary (70k – 80k INR), Stays […]
What is Personal Finance?
Personal Finance is simply managing Money. Be it Saving, Spending, Lending or Investing. But it all starts with Earning. Everyone have their own philosophy when it comes to Money. If you don’t have a philosophy, then your psychology will make the decisions for you (example: impulse Purchases, selling a falling Stock). Money if not managed […]