Everyone should be aware of the following nine personal finance rules. 1) Rule 72 (Double Your Money) 2) Rule 70 (Inflation) 3) The 4% withdrawal limit 4) The 100-less-age 5) 10, 5, 3 6) 50-30-20 7) Emergency 8) 40℅ EMI (Rule 9) Life cover 1) Rule 72 Divide 72 by the interest rate to find …
Here we have explained about National Pension System. We discussed everything in detail. About NPS Eligibility & Procedure Who needs it? Returns Options & Tax Benefits Conclusion About NPS National Pension System is a govt scheme. NPS launched in the first month of 2004 for government employees. NPS opened to the public people in 2009. …
1. Public Provident Fund (PPF) Those planning to invest in the scheme should keep one thing in mind because the scheme comes with an initial lock-in period of 15 years. The scheme is currently offering an interest rate of 7.1 percent per annum 15 years lock-in period PPF falls under the Exempt-Exempt-Exempt (EEE) category Central …
What is Inflation? In simple terms, Inflation is the gradual rise in prices and decrease in purchasing power of the currency.For example, a cup of tea that cost 10 rupees in 2021 (last year) would be worth 12 rupees in 2022. By comparing 10 rupees and 12 rupees for the same cup of tea in …
What is the Purpose of Retirement Planning? Growing elderly can be costly. While unnecessary spending may go down, medical costs will go up. Stress and worry will result in not having enough money to cover future needs. The goal of a retirement investment plan is to provide financial security in your later years without relying …
Bringing a new life into the world entails many responsibilities and financial obligations. When it comes to protecting their children’s future, parents must plan ahead of time.Only the ideal child plan would address all of these issues. It would also consider different stages of a child’s life, such as education, healthcare, and even marriage. There …
Personal finance is the effective management of your finances. It entails the financial management of one’s resources through budgeting, insurance, debt management, savings, and retirement planning. It could happen to an individual or a family.Managing finances is not an easy task, especially on a personal level. To effectively manage one’s finances, one must be aware …
What is Personal Finance? Principles and Benefits Read More »
