Your first income opens a gateway to financial independence. But how you map your finances from there on will decide the course of your life.
One’s first salary is a watershed moment in one’s life. It may be a paltry sum or a handsome one, but one is never going to forget it for as long as one lives.
In many ways, the first salary marks a significant departure from when one is a youngster, to the point where one is considered a ‘grown up’. It is a moment when one steps into the world as an earning member of society that can pay expenses and become responsible for themselves. If the salary is high enough, the person may even begin to shoulder the responsibilities of the household. Continue reading “Your first salary is your stepping stone to a stable financial future”
The principal factor of tech debt metaphor is that there are some prices you have to pay when you take shortcuts or intentional tech debts or make any mistakes or unintentional tech debts. It is also said that this cost would increase over time as long as you ignore tech debt and do not repay the interest. Tech debts are often overlooked and ignored as there is no apparent cost factor related to it as is with any financial debt where you can know the cost of your monthly payment and what it would sum up to if you delay in repayment. Therefore, it is required to quantify tech debt to know how much it costs you and your company. Continue reading “Know How Much Tech Debt Is Really Costing You”
Tech debt, which is inevitable for a software engineering and development business, is not just the responsibility of the business owner to regulate, control and address, but it is a team effort off all the staff of the business including the stakeholders. There are some specific actions which are meant for the stakeholders. When such actions are taken, it would effectively reduce tech debt and result in the proper functioning of the codes as well as the survival of the business on the whole. Now, there are several categories of the stakeholders, and every type has their specific role towards addressing tech debt and keeping it to the minimum. Continue reading “Responsibilities Of Stakeholders In Reducing Tech Debt”
To be frank, wealth management is beyond the scope of dummies. It needs to be well understood so that your future is safe. Wealth management entails a highly technical, professional and individualised service that combines financial and investment advice, accounting and tax services, and any other related financial advise for a set fee payable to an individual or institution. One who decides to venture into the domain must have a formal training background like CA, Costing or CFA holder.
Ever since liberalization in the early 1990s, life insurance in India has seen significant growth. Between April 2015 and February 2016, new premium income of Rs. 1.072 trillion (US $ 15.75 billion) was recorded in the country, at a growth rate of 18.3%. Till the end of February 2016, growth of 14.1% was seen in gross direct premium at Rs. 864.2 billion. Continue reading “Changing Life Insurance Trends in India”
If your wheels are turning and your mind is heading toward the realm of personal loans, then you are on the right track. Welcome to club borrow. More people are taking personal loans than ever before. In fact, CNBC reported a 30 percent increase of applicants from 2013 to 2016. Such people take personal loans to conduct a wide variety of tasks. One of the most common tasks for which consumers borrow personal loans is debt consolidation. Therefore, you have many sisters and brethren in the same financial boat that you are in. However, you have to develop a plan to make the personal loan work for you. You will have to take such a loan from a top provider. You should never just settle for any half-concocted loan product. Way too many respectable lenders are in the world for that. Continue reading “Personal Loans 101”
If you are about to open a savings bank account, we guide you through the procedure and the documentation required.
Every person who makes an income starts by opening a savings bank account. It is the best way to stow away one’s surplus funds and use it in the future for personal and professional purposes. Whatever money one earns or saves every month can be safely put away in the savings account. It is the best way to put away your savings and also earn interest from the bank. Continue reading “The step by step guide to opening a savings bank account”
It is interesting to know that as of June 2016, India recorded approximately 4,200-4,400 start-ups. According to a report by a top lobby group, Nasscom and Zinnov Consulting, India has the third highest number of start-ups in the world, behind only the US and the UK. It is possible that India will overtake the UK (4,500-5,000 start-ups) in 2017. Another important statistic to know is that most of the founders, almost three out of every four, are under the age of 35. Thesesure are the few guys who will be fulfilling their dreams early in life. Continue reading “An SME Loan Can Help You Build Your Dreams”
Although India has seen a decline of 13% in the monsoon during 2014 and 2015, the nation’s economy registered growth of 7.6% in 2015-16. Foreign investment reserves rose to a record value of US$350 billion. The Consumer Price Index (CPI) also came down from 9 to 5.4 during this period. The Finance Minister of India, Arun Jaitely, presented the Union Budget on February 29, 2016, with a special focus on income through taxes and foreign direct investment. There were many reforms included for finance companies in India as well. It also focused on the development of the agriculture and health care sectors. Here’s how the Union Budget could affect your finances and finance companies in India. Continue reading “What Does the Budget 2016 Mean for Your Finances?”
Opening a Fixed Deposit account is something of importance in today’s economy. But, how does one ensure that their FD gets them the best possible returns? Read on to find out.
Fixed Deposit accounts are a type of savings account that functions on a fixed interest rate for a predetermined period of time. Once the account matures, the interest is then credited to you, the investor. Fixed Deposit rates in India are constantly fluctuating, so if you opened your FD at a reasonable interest rate, then you probably have nothing to worry about. However, here are a few ways to improve your returns from your FD. Continue reading “7 secrets to improve your Fixed Deposit interest”
Your dream home could be within your grasp with a home loan. Get all the information you need with the right questions to ask the loan officer.
In today’s times of spiralling real estate prices, it becomes difficult to buy a house without availing of a home loan. However, in your excitement about buying your dream home and getting a house loan, you could inadvertently forget to ask the most important questions to the loan officer.
Allow us to nudge you in the right direction with a few questions to start you off. Continue reading “What to ask your loan manager when applying for a home loan”
Successful entrepreneurs are good strategists. They have foresight to spot future trends. They have insights to commercialize and execute ideas. But most entrepreneurs might have little or no exposure to system of accounting their business transactions. Growing number of technology start-ups are ideated by technical specialists with expertise in their area of interest. The big questions are – is there a serious need for them to know the importance of accounting at the start-up stage? Does lack of accounting exposure affect the way business decisions are made in a newly established innovative venture? How can knowledge of accounting make difference to the management of start-ups? Continue reading “Accounting for Startups”
Mortgage rates are repaid or written off over a preferred loan term and they depend heavily on the annual income pf the loan taker. To determine this figure, most mortgage companies calculate certain ratios based on which they evaluate the monthly mortgage payments of both the interest as well as the principal. The flexibility varies with each company, but are you yet to decide which suits you best? Continue reading “Mortgage Rates- Which one is best for you?”
Does a portfolio good for any seasons – without change the weights and the asset allocation – exist?
This is the question any lazy investor asks itself. The Harry Browne’s answer, an american investment adviser died in 2006, would have been: yes, the Permanent Portfolio (PP)! Continue reading “Backtesting Browne’s Permanent Portfolio Theory”
We have progressed greatly in Science, technology and virtually every sphere of life that one can think of. However, the last laugh of our lives still remains with a force-majeure beyond our control; critical ailments like cancer rattles our lives including those with whom we are closed associated with, inducing emotional as well as physical pain and trauma; further, what is even more cumbersome is the colossal list of expenditures that tend to take the wind off individuals especially those in the mid and lower income strata of the ‘so-called’ civilised society. It is thereby of utmost importance to have an insurance policy to protect oneself and especially the dependants, mainly in scenarios where there’s a single bread-earner running the show. Continue reading “Edelweiss Tokio Life – CritiCare+”
Businesses are finally finding that they have spending power again after years of uncertainty and recession. Whilst it may still be minimal compared to the boom years, the boost the economy has received over the past few months has ensured that manufacturers are not just increasing production of goods, but that they are also looking at ways to make their products more attractive to their target market. Continue reading “Impact of the economic revival”