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Finance Forum India

Share your thoughts on finance education, economic developments, capital markets movements or your professional experience in the field of finance.

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Tips to Use Credit Card Wisely

Many people are wary of using credit cards as they fear debt. The bad reputation of credit cards is solely due to its mismanagement. If used wisely, credit cards can be a great means to earn generous rewards and improve your credit score. Follow these tips and make the most out of your credit cards. Pay Off the Credit Balance Each Month Paying off your credit cards bills on time is the golden rule of credit card usage. If you miss the stipulated deadline for payment, you will have to deal with hefty interests. For that reason, if you are earning...
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SIP Investments Make the Most Sense in the Current Market Scenario

If you are not well-versed with stock market investing, you may be wary of the high risks. It is also possible that you may know the stocks you want to buy but are unsure about the quantity. The inherent risk of adverse price movements is prevalent in the stock market. You may be wondering how to protect yourself against such risks. One way to do this is to invest in equity mutual funds. However, mutual funds attract fund management charges. Over a long period, these charges may be a huge amount. All the aforementioned challenges may be overcome through systematic investment...
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This Children’s Day, be a responsible parent

Children’s Day is that day of the year when your house ebbs with joyous laughter. For this is when your children wait with bated breath to be laden with gifts. And when the gifts find themselves on their laps, you see their eyes glint with excitement. But, that joy can be short-lived. All the love you bestowed on them during their growing years may come to nought if you don’t start investing for your children’s future. They might even blame you for being unable to chase your dream. So, this year, instead of looking for the best deals on the internet...
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Things you need to know about a Savings Account

Savings account It is common knowledge that a savings account is a bank account wherein you can keep your savings. While this is true, there are many more aspects to a savings account. This article explores all the important things you need to know about a savings account. Before you delve into the details about a savings account it is important to understand the basics first. What is a savings account? A Savings account is bank accounts that hold your savings and provides a moderate rate of interest. Whatever money you want to save besides your daily expenses, can be deposited...
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Savings rate has been slashed - what now?!

Imagine the fate of your favourite team if the best player underperforms consistently?  This is what happens when you keep your money in a savings account.  It gets worse when banks lower their interest rates further like they did recently by slashing it to as low as 3%.  Stashing money in a savings account is similar to the best player suffering a long injury layoff.  The next question that arises is: What now? Will the team merely go through the motions and continue to languish in the doldrums, or will they explore other options?  If you are the proactive sorts, you...
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Credit Card Myths that can affect your Financial Management

The use of plastic money has increased and has now become a popular debt instrument. A credit card, a form of plastic money, allows you to avail of short-term credit. The debt may then be cleared at a later date. However, not many are aware of the working and the implications of such a debt instrument. Many have pre-conceived notions that are not entirely true. Following are five popular myths about credit cards: Getting such a card is not a good option Quite many individuals do not opt for such a card as they believe that it will lead to damaging...
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What is the Best Time to Start Investing in SIP?

A systematic investment plan (SIP) offers several benefits. It enables you to invest a small amount at regular intervals to grow your money. You may wonder when is the right time to start investing in an SIP. Experts recommend commencing at any time without relying on the market levels. You must not delay your decision because the index is at a high or low. Here are three things to keep in mind to determine when you must start investing in an SIP. Investing at current market levels Are you wondering whether it is advisable to invest in an SIP at current...
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The Consequence of Delay in Investing. Should you wait till 30?

For many, just the thought of financial planning strikes fear and anxiety. Most young people falsely believe that they have enough time to invest in the future and inevitably delay their investment process. It may be due to lack of awareness or out of sheer lethargy, but regardless of what keeps you from investing before you turn 30 and the proverbial reality check makes you take control of your finances – the consequences are precious years lost that could’ve earned you great returns. By “waiting for the right time”, you may be missing out on the power of compounding. Beginning your...
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Impact of Demonetization on Income Tax Slabs

The Indian population faced severe cash crunches after Prime Minister Narendra Modi announced demonetization on 8th November 2016. Long queues at the banks to deposit high currency notes and withdraw cash had become a usual sight. It has now been over two months since this announcement and the infusion of new currency notes has eased the difficulties faced by the people. Moreover, there is a lot of speculation on the next Union Budget, slated to be announced on 1st February 2017. After demonetization, the cash in the Automated Teller Machines (ATMs) was inadequate and there were long waits at banks. All...
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Life Insurance Myths That Could Hurt Young Families

At the start of your career, you may find it difficult to have a sufficient income. With new commitments, such as buying your home or starting a family, you also need to ensure the well-being of your loved ones. An important consideration is to ensure the financial stability of your family in case of your sudden demise or accidental disability. One way to financially secure your loved ones is to avail of insurance coverage. This ensures your family is able to sustain their lifestyle without any financial constraints. Unfortunately, insurance penetration in India is low. Several myths about life insurance prevent...
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