Have you ever written a cheque? As our country moves towards digitalization, people have become more comfortable with net banking, UPI, and e-wallets than writing a cheque. Still there are instances where the payment may be a large amount or the other party does not accept an online transfer of funds. In such cases,
When you open a bank account, you come across a field in the application form to fill in your nomination. You generally add your parent’s, spouse’s or children’s names as nominees. Many times, it is left blank. The nomination field is also in other investments such as mutual funds and fixed deposit (FD) etc.
What is investment? “Investment is laying out money now to make more money back in the future.” Warren Buffet “Investing” means using your money to buy an something in the hopes that you will get back more money by selling it in the future or by receiving a regular income from it. Examples of
Ravi wants to buy a property. He wants to know if he can afford it. What information does he need? His net worth! Radha wants to make a financial plan. She wants to plan her future investments and goals. What extra information does she need to do so? Holdings and liabilities, that is, her
We usually take a loan when we want to buy something worth more than what we can afford. It can be a house, land, or a vehicle. We also take a loan to pay for our education or to invest in business. What are the various types of loans? There are various types of
We like to spend money on vacations, parties, acquisition of exquisite items such as paintings, ornaments, and antiques. Similarly, we have our regular household expenses, loans and obligations. Each of these items is very different from the other. Yet the one thing they all have in common is that they are all expenses. We
Money. Property. Estate. Missing will. Forgery. Inheritance. Jaaydaad ka Waris. That’s the premise for many movies, detective stories and murder mysteries. For some, real-life may be as interesting as reel life, but for most, it’s just a lot of tedious paperwork. Why is Will important? 1. A person can distribute their assets as per their
“Don’t work for the money, let the money work for you…” Robert Kiyosaki Elders of the family are in the habit of gifting their nieces, nephews and grandchildren with money. Parents usually buy gifts and toys with this money and spend the remaining themselves. This cycle has been going on for generations and will