Personal finance

19 Apr 2024, 12:52

Essential tips for effortlessly renewing your bike insurance policy in 2024

In India, as mandated by law under Motor Vehicles Act, of 1988, it is mandatory to have a third-party motor insurance policy for all motor vehicles. If you purchased bike insurance in April 2023, it will be up for Own Damage (OD) renewal in April 2024. Here are some tips that will make your bike insurance renewal journey seamless and convenient.

19 Apr 2024, 11:42

A case for investing in Government securities

Government securities, commonly known as G-secs, are debt instruments issued by the Government of India to raise capital. These securities serve as a way for the government to borrow money from the public or institutions. G-secs come with fixed interest rates and predetermined maturity dates. They are considered among the safest investment options due to the sovereign guarantee attached to them, ensuring repayment of the principal amount and interest upon maturity. The credit risk on G-secs is thus minimal.

18 Apr 2024, 17:42

5 things to keep in mind before taking a personal loan

A personal loan can come in handy when you need money in case of an emergency. Being an unsecured loan, it requires less documentation and is easy to get. But it also means that the rates of interest are very high.Here are 5 things to keep in mind when taking a personal loan.Do you really need a personal loan? The first thing to ask yourself is whether you actually need a personal loan. If it is to buy something which you do not really need, then you should avoid it. Even if you need the money for an emergency, consider secure loans like loans against mutual funds, FDs or gold. A personal loan should always be the

14 Mar 2024, 04:04

Best Credit Cards for Military Members of 2024

Active-duty military members can get waived annual fees on premium cards like the Amex Platinum, and still enjoy lucrative perks and bonuses.

13 Mar 2024, 20:09

A mom had her first baby at 25 and her second at 42. There were big differences.

An older mom gave birth to her second baby at 42. Her first pregnancy came at age 25. She discusses the differences and similarities in the age gap.

13 Mar 2024, 16:26

Tap your ring or watch to pay! Wearable payment devices are a reality, but challenges remain

Technology has transformed every aspect of our lives, and payments are no different. From debit and credit cards, to UPI, how we make payments have evolved rapidly over the years. UPI payments happen through our phones, but the next big thing in payment is payment through wearables.“Wearable payment refers to a contactless payment method made through wearable devices that support the near field communication (NFC) method” says Atish Shelar, COO of Tech Fini, a fintech company. These wearables act as a digital wallet, storing your credit card or bank account information securely.

12 Mar 2024, 17:24

Received a tax mismatch notice from the IT department? Here is how to set it right

An income tax mismatch notice can happen due to several reasons. In an increasingly digital world, financial transactions rarely remain unreported and therefore, even an unintentional omission in our filing can result in a notice.“There may be an income tax mismatch between disclosures in the income tax returns (ITR) filed and information as received from the reporting entities. The reporting entities include a host of agencies, including banks, financial institutions, stock market players, mutual funds, and property registrars,” says Abhishek Soni, CEO, Tax2Win, an income tax portal.

12 Mar 2024, 08:42

Waiting periods in health insurance policies: What the policyholder needs to know

The purpose of health insurance is to cover us in case of any medical procedure or emergency. But the coverage does not start from day one of the policy being issued. There is a certain time, also known as the waiting period after which the policy coverage kicks in.“A waiting period in health insurance policies refers to the duration that must pass after purchasing the policy before it covers specific diseases, specific surgeries, medical conditions, treatments or any add-ons. These typically range from 1-4 years and vary across insurers,” says Adarsh Agarwal, Chief Distribution Officer, Digit General Insurance.

11 Mar 2024, 18:33

Women investors' share in MFs grows from 15% in March 2017 to 21% in December 2023

The share of women investors in mutual funds has increased from 15 per cent in March 2017 to nearly 21 per cent in December 2023, according the latest data of Amfi (Association of Mutual Funds). The overall asset under management in mutual funds crossed the Rs 50 lakh crore-mark in February this year as a large number of passive investors are flocking to mutual funds to save and earn more.

09 Mar 2024, 17:41

I wanted my 3 kids to have uncommon names and made lists of my favorites. But I couldn't choose until I held them in my arms.

I wanted my kids to have uncommon names and chose names with literary influences. We get compliments on them all the time.

06 Mar 2024, 13:52

Mutual Fund distributors to get trail commissions for investor asset transfers

Mutual fund distributors will now have the opportunity to receive trail commissions from Asset Management Companies (AMCs) for assets transferred by an investor from one distributor to another. This change follows numerous requests from Mutual Fund Distributors (MFDs) to review the current AMFI Registration Number (ARN) transfer norms. These norms currently prevent AMCs from paying trail commissions to the new distributor when an investor transfers their assets to a new MFD.

05 Mar 2024, 00:39

I helped raise my nephew, and now I'm pretty sure I don't want to have kids. Parenting requires too much sacrifice.

I helped raise my nephew and our bond is strong, but it showed me that I don't want to have kids. I learned how hard parenting can be.

21 Feb 2024, 18:39

Our kids live in the family home, and my ex-husband and I take turns staying there. Here are our tips to make 'nesting' work.

My bird nesting divorce success tips include rules, communication, and an amicable split, allowing your kids to stay in one house while parents swap.

18 Feb 2024, 20:39

I have a small extended family. The pros and cons include being close-knit, but sometimes wishing for more relatives.

I have a small extended family. The pros and cons include being close-knit, but wishing for more relatives. My kids will have the same experience.

17 Feb 2024, 03:59

A millennial mom of 3 quit her job to help care for her boomer parents. She says she was unprepared to be in the 'sandwich generation.'

A millennial mom went from being a fintech professional to a member of the "sandwich generation," juggling boomer eldercare, childcare, and work.

08 Feb 2024, 14:11

Equity mutual fund inflow hits almost 2-yr high of ₹21,780-cr in January

Equity mutual funds experienced a net inflow of Rs 21,780 crore in January, making it the highest monthly infusion in nearly two years, propelled by investors' continued preference for small-cap funds. In comparison, an inflow of around Rs 17,000 crore was seen in the category in December, according to the data released by the Association of Mutual Funds in India (AMFI) on Thursday.

01 Feb 2024, 13:38

Govt to launch scheme to help middle class buy or build own house; 2 cr more rural houses

Wooing the middle class ahead of the general elections, Finance Minister Nirmala Sitharaman on Thursday announced a scheme to help those living in rented accommodations or slums to acquire a house. The finance minister also highlighted that the implementation of the PM Awas Yojana (Grameen) continued despite the disruptions caused by the COVID-19 pandemic.

01 Feb 2024, 13:25

Govt to withdraw disputed direct tax demand of up to ₹25,000 till FY10; ₹10,000 for FY11-15: FM

, The government has proposed to withdraw old disputed direct tax demands of up to Rs 25,000 till FY10 and Rs 10,000 for 2010-11 to 2014-15, Finance Minister Nirmala Sitharaman said on Thursday. Presenting the interim Budget 2024-25, Sitharaman said the withdrawal of tax demand will benefit one crore taxpayers.

01 Feb 2024, 13:18

FM Nirmala Sithraman keeps tax slabs unchanged

As expected and in relief for the citizens, the central government neither tweaked nor put any additional tax burden on citizens, in the interim Budget for 2024-25 tabled by Union Finance Minister Nirmala Sitharaman. However, certain tax benefits to start-ups and investments made by sovereign wealth or pension funds as well as tax exemption on certain income of some IFSC units are expiring in March 2024.

29 Jan 2024, 15:26

Mutual funds collects ₹63,854 cr via new fund offers in 2023

Asset management companies launched 212 new fund offerings mobilising Rs 63,854 crore in 2023, marginally higher from previous year, on the back of significant uptrends in broader markets. In comparison, Asset Management Companies (AMCs) garnered Rs 62,187 crore through 228 New Fund Offerings (NFOs) in 2022. Further, they collected Rs 99,704 crore in 2021 and Rs 53,703 crore in 2020, according to data compiled by Morningstar India.

19 Jan 2024, 21:18

I visited my daughter in Paris and had to acknowledge how much our dynamic has changed as she's grown. As a single mom, it's bittersweet.

I'm a single mom, and it's been bittersweet to watch my daughter grow up. I had to acknowledge how much our had dynamic changed while visiting her in Paris.

19 Jan 2024, 14:13

Explained: Is this the right time to invest in long duration debt funds?

With the Nifty surpassing 22,000 and the Sensex above 73,000, the bulls are making merry on Dalal Street. Indian investors, seeking to ride the wave, are going gung-ho about mutual funds, especially in the small and mid-cap category, but debt funds are not in vogue.However, investment gurus say that no investor should ignore debt funds because it is an important part of asset allocation. Moreover, at present, a category of debt funds, known as long duration debt funds, is creating a buzz.

18 Jan 2024, 15:45

Budget 2024 expectations: From removal of security transaction tax to sovereign green bonds

The FY 2025 budget is around the corner and it is expected that Finance Minister Nirmala Sitharaman will fulfil some of the wishes of both the industry and the common people. A report by ICRA analytics lists down some changes they foresee when it comes to taxation and other investment products.

18 Jan 2024, 15:24

The new normal: Emergency funds to cover six months of expenses not enough anymore say financial planners

The experience during the pandemic changed us in several ways. We realised the importance of health and health insurance and many of us went through financial difficulties either because of job loss or salary cuts. We also released the importance of an emergency fund.An emergency fund provides a financial safety net, covering essential living expenses such as housing, utilities, and groceries in case of job loss or income reduction. This liquidity ensures that individuals can meet their immediate needs without resorting to high-interest debt or compromising long-term financial goals.

18 Jan 2024, 10:28

Couple Goals: Protection made easy with joint term insurance plans

When Delhi-based Shamik Mukherjee got married, he figured out that he needed to get term insurance. His wife, Sanchari is a homemaker, so he decided to get term insurance for himself. After all, term insurance is supposed to replace the income of the primary earning member in the unfortunate incident of his demise. Mukherjee did not intend to take a separate policy for his wife.However, on being advised by his financial planner, he decided to go for a joint term insurance.

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