How to save and invest your monthly salary - the 50/30/20 rule
FIN GYAN DAILY
by Shyam Sureliya
3y ago
Do you likewise struggle to save a portion of your monthly salary for your future? Have you become a normal customer of Netflix, Zomato, etc.? If indeed, then this amazing 50/30/20 Rule will end up being beneficial to take care of your financial life and secure your future. The 50/30/20 Rule It underlines the legitimate allocation of your monthly income towards different components. It states the upper roof for needs, wants, and savings, in which 50%, 30%, and 20% of your net income respectively. Let's plunge further into different components and try to dissect them in a better manner. M ..read more
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Best low & Medium Risk Investment Options in 2021
FIN GYAN DAILY
by Shyam Sureliya
3y ago
Most investors want to start making investments so that they to get high as can be returns as fast as conceivable without the risk of losing principal money. This is the motivation behind why many are consistently keeping watch for top investment plans where they can double their money in couple of months or years with next to zero risk. In any case, an exceptional yield, generally safe mix in an investment product, lamentably, doesn't exist. Perhaps in an ideal world yet not as of now. Truly, risk and returns are directly related, they go connected at the hip, i.e., the higher the returns, h ..read more
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New RBI Guidelines on Debit, Credit card auto-payment
FIN GYAN DAILY
by Shyam Sureliya
3y ago
If you make digital transactions, you may know about auto-payment. Auto-payment is the system which is used to pay fixed monthly expenses/bills/subscriptions through which amount is automatically deducted from your account every month. Recently, RBI has released new guidelines regarding auto payments and amount deductions which are as under: New RBI Guidelines on Debit, Credit card auto-payment RBI has asked banks to send a pre-transaction notification to their credit/debit card users 24 hours before an actual amount deduction. The notification can be made either through SMS or email, as ..read more
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Income Tax on Mutual Funds Gains - Long term and Short term
FIN GYAN DAILY
by Shyam Sureliya
3y ago
Income Tax on Mutual Funds Gains - Long term and Short term The tax you need to pay on your Mutual fund investments relies on the kind of fund you've invested and how long you hold it. At the point when you redeem your investments at a benefit, you acquire capital gains. A capital gain is the difference between the price at which an investor purchased the units of a mutual fund scheme and the price at which he/she sold or redeemed them. For example: in the event that you invested Rs. 50,000 out of a fund and it developed to Rs. 75,000 when you redeemed, Rs. 25,000 is the capital gain. T ..read more
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Importance of Asset Allocation and Goal Based Financial Planning
FIN GYAN DAILY
by Shyam Sureliya
3y ago
What is Asset Allocation? At the point when you invest in one investment option or asset class, the risk you take is very high. In this way, to reduce the risk you need to diversify your investments by investing your money in various investment options and asset classes like real estate, gold, mutual funds, equities, and fixed deposits. This is what Asset Allocation is all about. In this manner, Asset allocation is an investment strategy that means to balance risk and reward by allotting a portfolio's assets as per an individual's goals, risk bearing capacity, and investment horizon. The thr ..read more
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How to improve your Credit Score? Understand with an Example
FIN GYAN DAILY
by Shyam Sureliya
3y ago
Improve your Credit Score Let us start with an example to understand why credit score is important for you. In the recent time, Riya needed to buy the new MacBook Air. She applied for loans at a few banks, however her application was dismissed. Curiously, Riya has an active loan just as a credit card yet banks lenders actually hailed her as being ineligible for a loan. The explanation? Her credit score was extremely low! Your credit score is a vital factor in your financial life. This three-digit number is one of the significant components that lenders will consider before they choose to gi ..read more
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Income Tax : A Beginner's Guide
FIN GYAN DAILY
by Shyam JS
3y ago
Income Tax : A Beginner's Guide It's an extreme acknowledgment that the job you generally wanted has the complexities of tax returns. For a majority of the Indian taxpayers, calculating their tax is still a significant complex exercise, and in light of other different adversities, there endures an absence of practical elective arrangements that can give assistance in terms of tax calculations. In understanding with that, we have come to understand that in addition to the fact that it is valuable important to give a manual for calculate tax returns to help any average internet user. This arti ..read more
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Mutual Funds vs Fixed Deposit - Which is better option for investment?
FIN GYAN DAILY
by Shyam JS
3y ago
Nowadays individuals invest in a Fixed Deposit simply because they feel their money is secure in the bank. But if we talk about better returns, Mutual Funds is a quite superior decision.  Mutual Funds vs Fixed Deposit Along with these, if you are not sure between FD or Mutual Fund, we should take you through a couple of fundamentals about both FD and Mutual Funds that will help you settle on an insightful choice. Let me figure out what if you choose to invest Rs 10,00,000 in Fixed Deposit v/s Mutual Funds separately. Fixed Deposit What is a Fixed Deposit? A Fixed Deposit offers t ..read more
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5 Best Investment Ideas / Options in 2020-21
FIN GYAN DAILY
by Shyam JS
3y ago
Which are the Best Investment ideas or options for 2020-21 ? Where to invest money for remarkable returns? These are the most mainstream addresses that popup in the investor's mind while investing. We should attempt to find solutions to these inquiries.  All things considered, according to me best investment thought is one that permits investors to achieve their financial goals. The financial goal could be retirement, child education, marriage, purchasing another house and so on For each financial goals, you have to make an arrangement and select an investment alternative according to yo ..read more
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Income Tax Saving Tips for FY 2020-21
FIN GYAN DAILY
by Shyam JS
3y ago
Saving tax is consistently at the bleeding edge of each taxpayer's mind. That is the reason people take a gander at legal roads to bring down their tax liability. Saving income tax requires legitimate tax planning. The Financial year 2019-20 is going to end which will be evaluated in the Assessment year 2020-21. This is likewise a decent time where an individual can design about the tax saving schemes. There are a lot of alternatives accessible to taxpayers for deductions and exemptions, as indicated by Indian laws, by which their tax liability can be limited.  On account of the Income ..read more
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