Personal Finance
Articles related to Personal Finance will be posted here. Focus will be to bring out innovative and latest practices.
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RBI regulations summary for Microfinance Loans – 14th March, 2022
The directions shall be effective from April 01, 2022. Banks and all NBFCs now fall in the same regulatory framework.
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Best strategy to achieve financial freedom !
There are 2 school of thoughts with respect to savings. One school talks about increasing the expenses and the other encourages more savings in the current circumstances.
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When should you think of retiring early?
There are many reasons that you may not wish to retire early. Similarly there are many strong rationales to think about doing so. It becomes more important, if your partner is retiring early and you wish to spend optimal time together. Below are few great reasons to consider retiring early: 1. Plan to minimize future guilt Many individuals in retirement have remorse about having committed a lot energy and time to their work and hence were not able to give adequate to their loved ones. By retiring early, you’ll not only have more time for grandchildren and kids, but also your better half. You will receive an opportunity to build…
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Remember these after buying a health insurance!
I hope you have bought the heath insurance cover for yourself and your family. If you are still waiting to buy one, then please look around. Your savings are the first to suffer in the absence of good health coverage. Also, due to the pandemic premiums have been increasing recently. The procedure of purchasing medical insurance is really simple. You go through the features of the very best policies, consult friends and purchase them offline or online. After that the policy files reaches your home within a few days of premium payment. You feel relived at last. However, your health insurance has to undergo the ‘claim’ test, before you can…
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Living in the US, crossed 50 and still catching up on retirement savings?
Information is significantly revealing that numerous Americans, even those in their 50s, have actually conserved little for their retirement. According to research study by the not-for-profit Economic Policy Institute, amongst homes headed by grownups ages 50 to 55, the average retirement cost savings is just $8,000, according to the Economic Policy Institute. Absence of retirement funds is even more worrying as today’s grownups are anticipated to live a lot longer. In 1940, the life span of a 65 years of age was nearly 14 years. Today it is simply over twenty years. Supplemental earnings like Social Security might not suffice to cover anything beyond fundamental requirements, particularly if senior citizens…
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RBI boosts credit and debit card security with new rules
Many of us have heard about Credit or Debit card frauds/misuse from our acquaintances in the recent past. Earlier, transactions would not require OTP verification while executing the transaction. It had left a big loophole open and was being misused by firms, who used to store credentials. Transactions would get executed well after the subscription period. I myself faced issues with Netflix subscriptions, which would automatically debit the amount from my card. This was specially risky, if are planning to stop the subscription on that day. Now, RBI has come us with a new set of rules for cards issued in India. For New Cards or Reissued Cards During issue…
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Can you extend health insurance cover after diagnosis of illness?
f one does not declare the on set of a new illness at the time of extending the health cover amount, then there are high chances that any related claim may be rejected.
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Processing Cashless or reimbursement health insurance claims?
During this pandemic, Health Insurance has become nothing short of a boon to the general population. People are more aware and now understand that having a Health Insurance is absolutely necessary. Even if we discount the pandemic, illnesses can emerge suddenly and one should be prepared. I have seen first hand, how healthy individuals develop sudden complications, and if the insurance is not in place, it may turn the world upside down. Specially if you are young or don’t have enough savings. If one is paying the insurance premiums regularly then there is a natural expectation that all expenses would be covered. However, this may not be the case always…
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How can you burn your CRED coins ?
CRED coins are received as rewards when one pays credit card dues. It is like a positive incentive and reinforcement for maintaining credit discipline. A win win for both CRED and it’s customers. CRED only accepts customers, who have a credit score of 750 and above. It enables it to have first hand access to data of the most creditworthy clients. When you have a creamy databases available with you the possibilities are numerous. Who would not like to give loans to credit worthy customers. This is exactly CRED is doing, while pushing other brand products through it’s store and travel packages. How can CRED coins be used? There are…
