Achieving financial stability and prosperity involves more than just earning a good salary or making high returns on investments. It requires cultivating effective habits that align with your financial goals and help you manage your money wisely. In this article, we’ll explore essential habits that can enhance your financial life and set you on a … Read more
Typically, banks offer fixed deposits with a maximum tenure of 10 years. There is no bank that offers an FD with a tenure longer than 10 years. This may change soon. Suryoday Small Finance Bank plans to stretch the maximum tenor of a Fixed Deposit (FD) to over 20 years, and the depositors will also … Read more
There was a time not so long ago when luxury handbags made the loudest status statement. If you wanted to claim that you have arrived, without really using words to that effect, one just bought a luxury handbag, the cost of which onlookers could only guess would go into a few lakhs. Things have evolved … Read more
Tired of your 9-to-5 job and want to rather sprawl cross-legged near a beach while hearing the rumble of sea waves crashing into the shores? This may sound too tempting, albeit unrealistic, however a number of young people are working tirelessly to make this goal a reality in pursuit of what is known as Financial … Read more
India is celebrating its 78th Independence Day tomorrow.This Independence Day is a good time for you to take concrete measures to be debt-free. When the debt level is exorbitant, it not only puts your wealth creation plan in jeopardy but also whittles away a sizeable part of your income in the form of interest. Let … Read more
The Union budget for 2024-25 has proposed several changes in the capital gains tax structure, some of which are surprising moves that the mutual fund industry and the wider market community were not prepared for. One of the most significant was the hike in long-term capital gains tax from 10% to 12.5%. The budget’s proposal … Read more
The budget has brought in some major changes in taxation which would impact individuals. People may make some knee-jerk decisions as a quick reaction to the tax announcements and this article tends to suggest the do’s and don’ts to help people to avoid unwise actions. Before even getting into any specifics, regardless of changes in … Read more
On July 23, 2024, Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Parliament, announcing modifications to direct taxes. One notable highlight of the Union Budget 2024-25 is the 50% rise in the standard deduction, now up to ₹75,000. This is a beneficial move for salaried taxpayers, particularly those choosing the new tax … Read more
One of the government’s objectives is to provide social security benefits to citizens. In Budget 2024, the Finance Minister made two announcements towards this objective. These include proposals to raise the limit for employer contribution towards employee’s NPS to 14% from the earlier 10%, and the introduction of NPS Vatsalya for minors. Let us understand … Read more
Recently, I was talking to a relative who has a 3-year-old daughter. Being an investment advisor, many of the general conversations with extended families tend to steer towards investments. This relative of mine told me that he is investing ₹1.5 lakh yearly in the Sukanya Samriddhi Yojana account for his daughter’s future. I asked him … Read more