Mutual Funds offer many different modes of investment to investors for their convenience. Unfortunately, sometimes these investment modes create confusion among investors as they face the dilemma of making the right choice. One such common and frequently asked question is whether to invest via SIP or lumpsum?  Many new and existing investors end up making the wrong investment choice due to a lack of knowledge or misleading advice. They end up opting for SIP mode just because it is promoted more or because the minimum investment amount is less compared to lumpsum. One can start an SIP with as l ..read more

To manage your money properly, you must tread carefully around the minefield of prevalent investment myths. In this series, I try to debunk all such myths and misconceptions so that you can avoid jeopardizing your finances. In this article, I will talk about the common rules of thumb of personal finance and the dangers of following them blindly. Rules of thumb are generalized tried and tested rules that can be used broadly for many different situations, in other words, it is “one size fits all” advice. Now by this very definition, it should be clear that such rules should not be used in the c ..read more

Having a proper budget in place and sticking to it is one of the initial and critical steps of your journey to achieving financial well being. Yet, people end up wrecking their well-planned budget regularly and as a result, end up thinking that budgeting is not their cup of tea. Well, making a budget work is not all that hard. Chances are, you are falling prey to a few common budgeting mistakes. But don’t worry, I have highlighted all such common blunders and provided solutions for avoiding them: Incorrectly Estimating Monthly Expenses While creating the budget for the first time, many peopl ..read more

The key to successful financial management is developing a few good money habits like savings before spending, paying bills on time, investing for the long term so that compounding can work its magic and so on. But in today’s hectic life where everyone is busy working and handling multiple chores, unfortunately, money management takes a back seat and one is not able to keep track of all the bills, investments, etc. The commonly suggested solution for such scenarios is the automation of your finances. This means setting payments of your bills and investments on autopilot so that you won’t have ..read more

Everyone is busy finding ways of making more money, saving more money, growing their money. But how many of you have ever taken some time to figure out why you want to make more money? Or what are you actually saving for? In other words, are you using money as a tool or means to achieve some pre-defined financial goals? Or are you treating money as an end in itself and just working to achieve more of it? Answer to this simple question will determine if money will turn out to be your friend and help you achieve happiness, or if the same money will make you feel stressed and worried all the time ..read more

New Year is almost here, and everyone is pumped to party hard and welcome the year in style. But before you swap the calendar, take some time to check out your current financial health, and make some financial resolutions for the coming year. This year-end review of your financial situation will help set you up for a more financially secure future. If you want the next year to turn out to more lucrative than the previous one, consider the following financial tips or resolutions: Cut Out Unnecessary Expenses This is the perfect time to look back at your year-long expenses and cut out the u ..read more

There is a famous saying “Advice is like mushrooms. The wrong kind can prove fatal“. When it comes to your hard-earned money, bad advice has a much more adverse effect both now and for the rest of your life. Sadly, a large number of people become victims of such wrong financial advice regularly, by just watching or hearing financial product commercials on television and radio. Funny right? Who would have thought that these two harmless daily relaxation activities can be dangerous for your hard-earned money and future?  You must understand that financial products are different from consumer go ..read more