Financial Planning Archives

Personal Accident Cover: Why You Need It and How It Can Protect You from Financial Burdens

March 25th, 2023admin0 Comments

Like all of us, Nihar had so many dreams. But he dreamt not just about himself. He dreamt of seeing his loved ones happy, safe, and secure forever. Alas, all his dreams came crashing down when he met with a road accident a year ago. He lost his job. Now, Nihar has used up all his health insurance coverage and bank balance. He can no longer provide the best of everything to his loved ones. The smile on their faces is no longer there. “If only I had a personal accident cover,” – is what Nihar says to himself these …

The Retirement Planning Secrets No One Tells You About

March 11th, 2023admin0 Comments

Retirement is a significant milestone in life that many people look forward to. However, it can also be a source of stress and uncertainty if you’re not prepared for it. That’s why it’s essential to know the retirement secrets that can help you make the most of your golden years. In this blog post, we will discuss the top five retirement secrets that you aren’t supposed to know about. Retirement can be a stressful and uncertain time if you’re not prepared for it. Knowing these retirement secrets, you can be better prepared for your golden years. Thank you for taking …

Holiday Planning Is All About Planning Your Cash Flow Wisely

March 4th, 2023admin0 Comments

Life is all about experiences, whether good or bad, and traveling experiences are usually the good ones; at times, adventurous too! If you are a person who believes traveling is therapeutic and can help you rejuvenate, then this article is for you. Whether you are traveling solo or with your family or friends, planning your holidays is important to avoid last-minute mess. While most people love to travel, not all can do it that frequently because the money often becomes a constraint – when not planned properly. Therefore, it is important to plan your cash flows well in advance so …

Education Loans: A Smart Investment or a Debt Trap?

February 25th, 2023admin0 Comments

Pursuing higher education is expensive, and education loans have become a popular way to finance it. However, it is essential to consider the pros and cons of taking an education loan before deciding. In this blog, we will discuss the advantages and disadvantages of education loans and help you decide if it’s the right choice for you. What is an Education Loan? An education loan is a type of loan that helps students finance their education expenses, including tuition fees, accommodation, books, and other related expenses. Education loans can be availed from various financial institutions, including banks, NBFCs, and the …

Where should you park your emergency fund?

January 29th, 2023admin0 Comments

When you plan your goals or lay out your financial plan, it is essential that you consider the place for an emergency fund in it. Unexpected expenses and job losses can put severe pressure on your existing budget, which can be avoided by having a “Plan B” in place as we learned in this blog. Although we discussed what an emergency fund is and its need, the important question remained as to where one should park it. Where Is The Safest Place To Invest Emergency Fund? When parking and emergency fund you should keep in mind that the returns are secondary. …

Don’t Leave Your Child’s Education to Chance: A Guide to Planning and Investing

January 20th, 2023admin0 Comments

Every parent wants to give their child the best start in life; a solid education is a fundamental part of that. Planning for a child’s education can be overwhelming and confusing, with many options and decisions to make. And financing is a very crucial part of the various decisions you are likely to make as your child grows up. In this blog, we’ll explore the importance of education planning, how you can plan for your child’s education, and the various vehicles available to help you fund it. The importance of planning Some crucial points on why planning your child’s education …

5 Terms You Must Know About Your Health Insurance

December 17th, 2022admin0 Comments

Health insurance is the basic foundation of a sound financial plan. A health insurance policy can help you cover the costs of medical surgeries, expenses, and other procedures. With a comprehensive health policy in place, your overall planning can largely stay unaffected as unexpected medical bills can be covered or reimbursed by health policies. With the rising medical inflation, the cost of surgeries and procedures in India is rising. Hence, health coverage is a necessary step you should be taking toward your finances. Moreover, buying a policy isn’t sufficient if you do not give the time to understand it. Knowing …

How to store your financial documents safely?

December 10th, 2022admin0 Comments

To store or not to store is the big question…. that everyone, especially the earning members of our society, has to face regularly to keep their records correctly updated for future reference. Often, we misplace some essential documents when we require them the most or cannot remember where we have stored them, which results in stress and anxiety. As we have seen from our childhood, our parents and grandparents used to (still do!) have these big steel almirahs (Godrej). It was used to store various files and folders– loads of papers, small, big, and large ones. Once a year, they …

When should one buy a life cover?

December 3rd, 2022admin0 Comments

Have you bought life insurance yet? If yes, that sounds wonderful. You have made the best decision of your life. But why did you get it? Did you buy the policy because you were told it is the best thing one should do or something one should get early? Or was it the tax savings part that persuaded you? If not any of them, was it the “returns”? I hope your decision was not based on “returns” or tax savings. Life insurance is not and shouldn’t be bought for those reasons ever. In this piece, we shall see why you …

A Will is Willingly Necessary Right Now, More Like Yesterday

November 12th, 2022admin0 Comments

What is Will? Have you ever thought of the day when everything will be there but you? What will happen to the wealth you created for your family and loved ones in your absence? Would your family get the rightful share of your wealth per your wish, or will they have to fight a legal battle among themselves or others for the right to ownership? Make a Will beforehand to avoid unnecessary complications after your death and fair distribution of your fortune as per your wish. Will is a legal document left behind for the family and for one’s nearer and dearer. Through this document, a …

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