Moneycontrol PRO
Sansaar
HomeNewsPersonal finance

Personal Finance

When an individual or a family unit plans to save or spend monetary resources over time, considering various financial risks and future life events, that term is called personal finance. While planning personal finances, the individual normally considers the suitability to his or her needs of a range of banking products or investment in private equity or insurance products. Also, the person even considers participation and monitoring of and- or employer-sponsored retirement plans, social security benefits, and income tax management. Through personal finance education, a family or individual can make rational financial decisions throughout their life regarding the financial management skills. However, personal finance differ based on circumstances of people like income, wealth, and consumption needs. Apart from this, taxes and finance laws also differ from country to country, and market conditions vary geographically and over time. Experts comment that the key component of personal finance is financial planning, which is a dynamic process requiring regular monitoring and re-evaluation. The whole process is divided in 5 parts: assessment, goal setting, plan creation, execution, and monitoring and reassessment. Among others, experts believe personal financial planning areas include: financial position, adequate position, tax planning, investment and accumulation goals, retirement planning, estate planning, delayed gratification, cash management, revisiting written financial plan regularity, and education planning. They also opine that personal finance should be taught in schools. More

Jump to
  • Personal Finance: Don’t fall prey to misleading ‘finfluencer’ calculations

    Personal Finance: Don’t fall prey to misleading ‘finfluencer’ calculations

    A simple example of finfluencer advice that could set you up for financial missteps 

  • No tax rebate for special-rate incomes, reiterates Income Tax Dept, asks taxpayers to pay up by December 31

    No tax rebate for special-rate incomes, reiterates Income Tax Dept, asks taxpayers to pay up by December 31

    No interest will be levied if the income tax due is deposited by December 31, says CBDT circular.

  • Festive shopping on a budget: Smart tips to avoid financial stress

    Festive shopping on a budget: Smart tips to avoid financial stress

    Festive shopping spree driven by attractive loan offers and discounts, but prioritize needs, budget wisely, maintain healthy EMI-to-income ratio, and shop smart to avoid financial stress and debt traps.

  • Should you copy professional fund managers? Here’s what retail investors need to know

    Should you copy professional fund managers? Here’s what retail investors need to know

    Tracking the actions of professionals may seem enticing, but there are key issues.

  • The hidden swipe cost: How credit card interchange fees affect you

    The hidden swipe cost: How credit card interchange fees affect you

    Every card transaction comes with a behind-the-scenes cost—here’s what it means for merchants and customers.

  • Maximize your NRE fixed deposit returns: Top banks with highest interest rates

    Maximize your NRE fixed deposit returns: Top banks with highest interest rates

    Top 10 banks offering highest interest rates on NRE fixed deposits for NRIs, with IndusInd Bank leading at 7 percent, followed by others like Kotak Mahindra Bank and SBI at lower rates.

  • Smart strategies to break free from debt stress

    Smart strategies to break free from debt stress

    Practical tips can take you to manage loans, remain stress-free, and achieve long-term financial stability.

  • Surviving an IT layoff: A guide to managing your money wisely

    Surviving an IT layoff: A guide to managing your money wisely

    Layoffs can shatter your cash flow, but money sense and wise money management can sustain you and prepare you for the future.

  • Tax audit deadline nears: Will Finance Ministry grant an extension?

    Tax audit deadline nears: Will Finance Ministry grant an extension?

    Chartered accountants and trade bodies demand more time as compliance workload and portal issues mount.

  • Gold rate today: Yellow metal hits fresh record high, check latest prices in your city on September 23

    Gold rate today: Yellow metal hits fresh record high, check latest prices in your city on September 23

    Gold rate today: Here are the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on September 23.

  • Do fintech personal loans make sense for you? Here’s what to know

    Do fintech personal loans make sense for you? Here’s what to know

    Fintech lenders offer convenience and speed but risks and costs need to be considered before joining.

  • Don't let your cyber legacy go dark, include virtual assets in your will

    Don't let your cyber legacy go dark, include virtual assets in your will

    Estate planning should include digital assets such as cryptocurrencies, social media profiles and online businesses to preserve legacy, prevent disputes and ensure smooth transition of assets to heirs

  • Why hybrid SIFs deserve 5-15% allocation in your portfolio

    Why hybrid SIFs deserve 5-15% allocation in your portfolio

    If you have at least Rs 10 lakh to allocate, hybrid SIF can be that middle seat in your portfolio — less exciting than an aggressive hybrid mutual fund but far more rewarding than parking everything in short-term debt

  • Home loans: Here are best rates offered by housing finance companies

    Home loans: Here are best rates offered by housing finance companies

    Housing finance companies offer home loans at 7.45 percent to 9 percent interest, with competitive rates for borrowers with good credit scores.

  • Minor car accident: Should you claim insurance or pay from pocket?

    Minor car accident: Should you claim insurance or pay from pocket?

    Even minor car accidents raise a big question: is it smarter to use your insurance or pay cash?

  • Navigating Trump’s H-1B visa order: Expert advice for students and professionals

    Navigating Trump’s H-1B visa order: Expert advice for students and professionals

    The new H-1B visa proclamation introduced a $100,000 fee for new petitions, affecting Indian professionals and students. Existing H-1B holders and renewals are exempt, but new entries face significant financial hurdles.

  • Credit card cash withdrawal: Key details about credit card cash withdrawal limit, fees and charges you need to know

    Credit card cash withdrawal: Key details about credit card cash withdrawal limit, fees and charges you need to know

    Credit cards let you withdraw cash in emergencies, but it comes at a cost with fees, interest, and strict limits. Here’s everything you need to know about cash advances, charges, and safer alternatives.

  • Job loss jitters: How professionals in their 30s are rethinking money, careers, and life goals

    Job loss jitters: How professionals in their 30s are rethinking money, careers, and life goals

    Economic uncertainty is pushing young professionals to rethink financial choices, career paths, and life goals.

  • How to buy the ₹3,000 Fastag annual pass and who can apply

    How to buy the ₹3,000 Fastag annual pass and who can apply

    A new annual pass is available which will facilitate easy toll payment for frequent highway users by offering 200 trips or one-year validity.

  • Top Credit Cards Compared: Rewards, Fees, Features And More

    Top Credit Cards Compared: Rewards, Fees, Features And More

    With so many credit cards in 2025 offering cashback, travel perks, and OTT discounts, picking the right one can be tricky. A smart comparison helps you balance rewards, fees, and features to get the best value.

  • Used car loan interest rate: Your essential guide to used car loan interest rate, application, fees and other key details

    Used car loan interest rate: Your essential guide to used car loan interest rate, application, fees and other key details

    Buying a pre-owned car? Used car loan interest rates in India (6%–26% in 2025) can greatly impact your total cost—know how lenders decide your rate.

  • Equity ex-Top 100 Long-Short Funds: A smarter way to play mid and small caps

    Equity ex-Top 100 Long-Short Funds: A smarter way to play mid and small caps

    Though investors are rewarded by these schemes handsomely, many investors still think twice before investing in a mid-cap or small-cap mutual fund scheme, because of the fear of intermittent drawdowns.

  • How to recover from credit card delinquency and protect your finances

    How to recover from credit card delinquency and protect your finances

    Late payments on your credit cards hurt your bottom line, but there are steps you can take to regain control.

  • Is now the time to shift from direct REITs to mutual funds?

    Is now the time to shift from direct REITs to mutual funds?

    With volatile real estate markets and evolving tax rules, investors are weighing the trade-off between direct REIT holdings and diversified mutual fund exposure.

  • Personal loan rejection: What to do if your application is rejected repeatedly

    Personal loan rejection: What to do if your application is rejected repeatedly

    Rejection of personal loan applications time and again can be infuriating, but it also reflects underlying defects in your financial profile that need to be corrected.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347