As we are all gearing up to celebrate our country‘s independence how about achieving our financial independence too.
Recent movie made on M S Dhoni teaches some lessons which can be used in the field of personal finance.
Dussehra marks the victory of good over evil. It is the time to let go our poor money habits and inculcate prudent financial behaviour.
Emergency fund should be the base of all financial plans. It gives the peace of mind in addition to some return on money.
Start of the new academic year makes most parents put their best foot forward. They should take same approach for their child‘s long term goals.
Like Yoga, goal-oriented systematic financial investments can bring a lot of inner peace.
One has to save money over a period of time, to ensure that his children get good education. In case of a special child it becomes even more important as a special child needs extended support.
At the beginning of the year, one should be proactive and take charge of his money matters. This helps in achieving one‘s financial goals.
Various behavioural biases have made investors lose money, or not pocket the return they should be getting. Here is how to overcome these biases.
Mutual funds can be bought from the long term point of view. Gold ETF buying gives you the traditional feel of buying gold without losing peace of mind.
When it comes to containing downside, balanced funds are better positioned than most equity funds. Also they do not compromise much on the upside
Compound interest can create wealth for you, provided you use it to your advantage.
Due to market movements and changes in risk appetite one may need to have a look at his own asset allocation. Regular portfolio health check up can further help to take corrective steps in asset allocation