Building wealth is as simple as saving a little bit here and a little bit there. You need not have great riches in order to accumulate wealth, but you need to have the drive, determination, and discipline to successfully increase your wealth. Let’s look at 5 proven wealth building...
Wise money management is essential for a balanced, happy life. Financial stress resulting from poor money management skills can affect our capacity to make good decisions, harm our relationships, affect physical and mental health, and ultimately to function well in life. It is no exaggeration to say that poor...
While extremely convenient, credit cards can be a very costly consumer product. Most people don’t realize just how expensive carrying around a credit card in your wallet can be. Each year many big spending credit card consumers can throw hundreds or even thousands of rupees out the window using...
In recent years, other than conventional banks, certain other categories of banks have come into existence like Payments Banksand Small Finance Banks. Key objective of setting up of both types of banks is to promote greater financial inclusion through a secured, technology driven environment. Payments Banks: ...
What exactly is a Credit Score? Credit Score (a three digit number) indicates a borrower’s creditworthiness and is typically based on his/her credit history and other factors . It is given along with Credit Information Report issued by a Credit Information Company. Credit Score would be higher...
Passive vs. Active Savings Money in regular Savings Bank accounts fetches very low rates of interest, hence can be termed passive savings. Do not keep too much money in savings account! Instead, invest in Recurring/ Fixed Deposits of banks that fetch better returns. ...
BUDGETING What is a budget? Put simply, it is a plan of your future income and expenses. Budgets can be yearly, monthly or even weekly. Why prepare a budget at all? With a budget in hand, you will be able to control your...
We all know the age-old saying: “Do not put all your eggs in one basket.” Diversification is the process of investing your money in different assets. Why Diversify? The reason one should diversify by investing in different assets is...
Any investment entails a certain degree of risk. Generally, there is a direct correlation between risk and return.The higher the expected return, the higher the risk(including the possibility of losing the initial investment as well). And lower the return, lower the risk as well. “The...
Though the growth in MSME activity and the MSME credit offtake thereof has been tepid for almost two years, MSME continues to be the buzz word not only in India but in many parts of the globe if an economy has to rebound and sustain itself. Governments have been...