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5 Best Books to Read that Will Relieve your Boredom

The way of life has evolved along with the times and conditions. Every single thing has moved online. People are becoming more lazy and bored in their daily lives as a result of this. So, what should you do when bored? It’s common for people to pass the time when they’re bored by viewing online videos, movies, and television shows. But, reading is different. So, you can look for some of the best books to read if you have nothing to do. This article gives you a list of the five best books to read that will instantly put an end to your boredom. [B-01] American Gods by Neil Gaiman American Gods by Neil Gaiman is among the best books to read, especially if you like fantasy fiction and things that are a little bit out there. It’s the type of book that captures your attention, draws you into the narrative, and keeps you there right up until the very end. In this book, Gaiman combines mythological figures or gods from Norse, Middle-Eastern, African, Hindu, and Egyptian mythologies and sets them in contemporary America. The advent of modern tech gods, like media, poses a risk to the existence of the Old Gods. The story is slow-moving but very engaging. This is a book that focuses more on the journey than the destination. And, the entire journey feels like it was expertly written on every page. The Bookish Life of Nina Hill by Abbi Waxman Funny and endearing, The Bookish Life of Nina Hill is a great book to read. The protagonist is Nina, a library employee and lifelong reader who learns that her estranged father has passed away. Despite having never met her, her dad’s will names Nina as one of the beneficiaries. Nina discovers her siblings, nephews, and nieces. Though overwhelmed by this in the beginning, Nina finds her family ties curious and connects with them gradually. You will admire Nina for her sense of humor, love of literature, libraries, and bookish allusions. She’s one of the most likable, cool characters around. The relationship between Nina and her new relatives is depicted in the story as being quite interesting. This makes The Bookish Life of Nina Hill a prominent addition to this list of the best books to read. All Our Wrong Todays by Elan Mastai Elan Mastai’s brain would be on your list to analyze if you ever have the chance to access someone’s brain. If time travel fascinates you, then this book will win your heart. These days, there are a ton of amazing time travel books available. But, All Our Wrong Todays is one of the best books to read. The protagonist of this book is Tom Barren, who becomes a chrononaut or a time traveler by chance. Barren finds himself and all his lifelong connections in the future, which is a utopian view of Earth in 2016, only reimagined in a brilliant, creative, and often-humorous way. The book will take you on an inventive journey and help you take another look at your own life through the prism of the future’s prospects. The Book Thief by Markus Zusak This book is among the best books to read. The book’s narrator is unique: Death himself. A sister and brother are seen asleep next to each other on a train. The train is packed with passengers at the onset of the disaster. The boy’s sister is terrified and miserable as death collects his soul. As soon as she can, the mother buries her son, after which she sets out to give her daughter to a foster family. The young woman, Liesel, struggles to adjust to her new life in Nazi Germany. She is confused and overcome with mixed emotions. She runs into a lot of interesting characters, like Rudy, who wants to kiss her, Tommy, the mayor’s wife, and others. You’ll have a great time reading this book. It has a fantastic plot and endearing characters. The character “Death” is very well-developed. Markus Zusak showed him as a man who was tired of the sadness and grimness humans showed to one another, as opposed to how most authors portray him, as a grotesque monster who enjoys his work. Not Here To Be Liked by Michelle Quach Not Here to Be Liked features two fascinating main characters and a writer who isn’t afraid to take on difficult subjects. Readers see opinions on menstruation, blonde jokes, and how different meanings of feminism exist through Eliza’s eyes. They also see how much work it takes for a woman to appear effortless in her femininity. Or how, in today’s society, liking someone is valued far more than being intelligent or moral. Or, how to “act out” without actually acting out. On top of all that, Quach delves into the wonderfully distinct and varied experiences of the many cultures that constitute “Asian” in America. You can’t help but fall in love with the strong heroine who had real guts and the dashing hero who both pushed and admired her. This book is one of the best books to read. [B-02] Conclusion It is always a good habit to read books. This is true regardless of your age. People claim that they lack the time to adapt. But, given how boring life has become lately, making time for the best books to read doesn’t seem like such a big deal. It will encourage you to be active in your spare time. And, it will instill some moral principles in your mind. There are many best books to read. You can read any of your choices. This article also includes suggestions for some of the best books to read. So, read them and enjoy them. For similar blogs, you can visit the Piramal Finance website and explore their products and services.
08-11-2023
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Education

5 Ways to Avoid Losing Money in the Stock Market

Following a few simple criteria, many business owners and investors are successful while investing in the stock market. They learn how to increase and multiply their money using simple approaches. However, some investors need help to succeed. Trading costs them a ton of money. They ponder what went wrong, what errors they made, and how to avoid future stock market losses. Follow the 5 ways outlined below to prevent losing money in the stock market if you are an individual investor. [B-01] What Is a Stock Market? As the name indicates, a stock market is a location where buyers and sellers come together to transact or buy and sell shares of publicly traded corporations. A stock market is sometimes referred to as an equity market, a share bazaar, or a share market. Simply put, Ashish would submit a sell order on the stock market if he wanted to sell five shares of Reliance Industries for Rs 500 each. The stock market will locate a buyer who wants to purchase five shares of Reliance Industries for Rs. 500 each. As a result, the stock market is an electronic marketplace where buyers and sellers may transact in shares. 5 Ways to Avoid Losing Money in the Stock Market Set reasonable goals When investing, you should have reasonable expectations of your potential returns. Additionally, statistics like average rates of return may include errors. For instance, you would have earned an average rate of return of 10.2% if you had invested in large-cap companies between 1926 and 2020. And Rs. 100,000 invested would have increased to Rs. 18.4 million over 30 years if you got this rate of return. But throughout the same period, your returns would have ranged from a high of 54% in 1933 to a low of -43% in 1931. If you made your first investment in a year with losses, it could make you hesitant to make future ones. It’s critical to realize that your returns won’t be linear but will be an average of positive, negative, and flat returns. And realizing this may help you get through the difficult years ahead. Recognise a realised loss from an unrealised loss You can feel like you lost money when you check your account balance and notice that it’s lower than the previous month. Unrealized losses or profits, however, are the figures you have seen on your statement or when you check into your account. Throughout a day of stock market activity, these figures fluctuate for better or worse and are only regarded as true losses or profits when you realize them by selling your assets. For instance, if you lost money last month and your account balance was Rs 10,000 last month, it may now be worth Rs 9,000 instead. You will only lose money if you sell this investment before it reaches its initial worth. As the stock market has consistently gained in value over the long term, so should your assets, provided you continue investing. Have a reasonable timeframe How successfully you manage your money amid stock market disasters may depend on how fast you need it. If you experience a 30% loss and won’t need your money for 25 years, you may ignore it since you know that in a few years, the value of your account may increase to its original level. However, if you want to use the money next year, you could be terrified of losing any of it. Consider your time horizon before making any stock market investments. And the more likely it is, the more cautiously you need to spend. Losses may appear severe only because you are afraid of not meeting your goal, and you will be less likely to give up investing over a minor decline. Manage feelings It might be difficult to control your emotions while losing money, and it may seem to last forever. However, decreases are rarely permanent. When you’re feeling this way, knowing how to manage your emotions could be the difference between achieving poor returns that lag benchmarks and staying up with them. Reviewing historical stock market declines might be beneficial when it seems like the world is ending and there is no end. Investors who stuck with it frequently recovered their losses in a few years, even during some of the worst downturns. If you had just invested in large-cap companies from 2000 to 2002, you would have lost around 38%. However, by 2006, you would have recouped your investment and be slightly in the black. Invest according to your risk tolerance What do you think about volatility? Do you hardly notice it and know it is a typical market cycle phase? Or does this make you feel sick each time it occurs? More aggressive investments can increase your long-term earnings, but they also carry a higher risk of loss during a bad year. Additionally, these investments can be too hazardous for you if the losses look excessive. It could be challenging to remain motivated if this occurs. You may avoid this by ensuring your investments are within your risk tolerance. Additionally, even if it offers a lower rate of return, you should pick an asset allocation strategy that matches your level of risk tolerance. Instead of bringing you farther away from your objectives, investing should assist you in achieving them. While it is typical for your account value to rise or fall regularly, you are not required to lose money. You can avoid it by keeping your worries in check, making sure you have the right assets, and having reasonable expectations about how your accounts will grow and when those gains will happen. [B-02] Conclusion The stock market is a marathon, not a 100-meter sprint. You will require years of study and investigation to succeed as an investor. Anyone who invests in stocks has the potential to both gain and lose money. You must approach the stock market investment like any other kind of business. To consistently profit from the stock market, you need to study a lot and have real-world experience. By following the advice given above, you may begin making money on the stock market today. You should invest most in yourself. Using Piramal Finance, you can learn more. Visit the Piramal Finance website to learn more about the stock market.
08-11-2023
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Education

5 Reasons to Buy Gold This Ganesh Chaturthi

The majority of Indians frequently purchase gold bonds online. It is regarded as a symbol of prosperity, a way to store money, and an heirloom that may be passed down from father to son. Let’s imagine that you are considering purchasing gold. An auspicious day is Ganesh Chaturthi. You may already know that buying gold bonds online in India honours Lord Ganesha, also called Ganapati, who is seen as the god of wealth and good luck. [B-01] The theme of Ganesh Chaturthi is to look forward. Ganesh Chaturthi is a holiday that honours optimism for the future. One of the reasons it is so well-liked in India is because of this. The event also acts as a reminder that although it’s crucial to have dreams for the future, action in the present is just as important. Ganesh Chaturthi is frequently referred to as “Shubh Arambh,” which denotes that it is an excellent time to begin a new endeavour. Ganesh Chaturthi is the best time to start anything, like a new business or a new product, or to buy gold bonds online, such as stocks, bonds, or gold. Gold is still a good way to put your money to work. You must have noticed that you can buy gold bonds online in India. Why Should You Buy Gold Bonds Online This Ganesh Chaturthi? Inflation Both inflation and the cost of living have been rising recently. Large-scale geopolitical shocks, the strengthening of the dollar (which fuels imported inflation), supply-chain hiccups, rising metal and cooking gas prices, and the cost of some food items have all contributed to their increased cost. One of the main things threatening inflation is pressure from prices in both the industrial and service sectors. In India and many other nations, inflation is anticipated to persist in 2022. According to a World Gold Council study, gold has performed significantly better when inflation increases, rising by an average of 12% when it exceeds 6%. This demonstrates that gold is an effective technique to ward off inflation. Additionally, consumers account for a sizable portion of the demand for gold, which has affected gold’s price. According to the WGC study, for every 1% increase in inflation, the short-term value of gold increases by 2.6%. Interest rates rise Gold typically suffers when significant central banks raise interest rates to combat inflation. However, many central banks were likely to raise rates more gradually and support growth after raising rates quickly in the first half of 2022. The U.S. real rate needs to be higher than 2.5% to affect the gold rate, but it is currently negative. Bond yields are low The yield on the 10-year G-sec has been rising since July of last year. This is brought on by increased public borrowing, an elevated debt-to-GDP ratio, a depreciating rupee, rising inflation, rate hikes, and a generalised state of economic uncertainty. Bonds are now less appealing due to declining total returns (also known as inflation-adjusted returns). Future expectations for them don’t call for any positive outcomes. In this situation, wise investors should consider gold as a long-term portfolio diversifier rather than bonds. Tensions in world politics Geopolitical tensions were also increasing in many other parts of the world. Examples include the battles between China and Taiwan, Russia and Ukraine, and China and India over their shared border. The focus would switch to gold during uncertain times that might have an impact on society, government, and the global economy. The RBI and a few other central banks have begun to buy gold because they are aware of the risks. Stock market turbulence The domestic financial markets, particularly the currency market, are impacted by the volatility in the global financial markets. Inflation, central bank monetary policy decisions, and global political conditions all have an impact on how the stock market will move in the future. People believe that during uncertain times, gold will be popular and perform well. Gold had generated roughly +8% in absolute returns as of August 16, 2022. However, the returns might be significantly higher by the end of 2022. The southwest monsoon is returning to normal, and people may want to purchase more gold due to the festive mood. Consider “investing” in gold the right way this Ganesh Chaturthi by designating 10% to 15% of your overall investment portfolio to gold and holding it for a considerable amount of time (over 5 to 10 years) while taking a moderate-to-high risk. You could purchase actual gold in addition to digital gold (bars, coins, jewellery, etc.). Additionally, you could buy government gold bonds online. On behalf of the government, the RBI sells sovereign gold bonds with a face value of one gramme of gold, including buying gold bonds online. They can be sold on the stock market and have a term of 8 years (with just an exit option at the end of the fifth year that you must take on the interest payment date). Depending on the amount you invest, you may earn interest at a set rate of 2.50% per year and have the chance that it will go up in value. Or, you could buy gold bonds online. It is an open-ended fund of funds scheme that invests its capital in a gold ETF that serves as a benchmark and is tied to the price of physical gold. [B-02] Conclusion An Indian holiday that is unique among all others is Ganesh Chaturthi. The celebration of Lord Ganesha is a sign of hope for all of India, particularly for the people of Maharashtra. It enables people to let go of the past and look forward with optimism. Since Ganesh Chaturthi occurs after a year in which the economy struggled, it has special significance. People are buying less, and even though there have been many defaults, there needs to be more money. The GDP is no longer growing as quickly. Most importantly, the average person is starting to feel the effects of the downturn in the economy. This year, this festival of hope is more important than ever. You can visit Piramal Finance to learn more about these and make a good choice.
08-11-2023
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Education

5 Differences between FD & Mutual Fund

Fixed deposits and mutual funds are among the most popular types of investments. Investors can achieve their objectives by obtaining both consistent and safe good returns. Mutual funds give returns that depend on how well the market does, while fixed deposits give a fixed return at a set rate of interest. Mutual funds and fixed deposits are two commonly used financial planning instruments. [B-01] What are fixed deposits? Set deposits, as the name indicates, provide investors with fixed interest rates for certain lengths of time. An FD term might last anything from seven days to ten years. In bank FD interest, compounding is employed so that you may receive interest on the interest that has been paid. Suppose a bank offers 6% interest on deposits with a three-year fixed rate, for example (compounding yearly). If you deposit 100 rupees, your account will have 106 rupees after a year. You will get 6% interest on the principal plus interest in year two, which equates to 6% on 106 or 6.4 rupees. Compounding is what led to the extra forty pence. The dropping interest rates are concerning, mainly for seniors who invest a significant percentage of their money in FDs. Over the last 25 years, the FD interest rate has been secularly falling. In response to COVID-19, banks and the RBI jointly reduced interest rates on fixed deposits. Following taxes, FD interest rates can hardly keep up with growth. The amount of tax on the FD interest depends on the depositor’s income tax band. When FDs are compared to mutual funds, there is no tax indexation advantage since the FD interest rate is set during the FD. There is little safety against rising interest rates because of the low interest rates on fixed deposits. What are mutual funds? Mutual funds are financial vehicles created by combining the money of many members and are governed by asset management organisations. Mutual funds are stock or bond portfolios that unit holders may make choices about. Depending on the client’s financial requirements, mutual funds provide a variety of investment possibilities. Debt funds deal in the money and bond markets, while equity mutual funds mainly trade stocks. While income production is the main goal of debt funds, capital growth is the main goal of equity funds. Choose investment strategies with fund managers who have a track record of doing well over the long term. Regarding tax benefits, mutual funds outperform fixed deposits significantly. The assets that save you the most taxes are mutual funds. In equity funds, long-term gains held for more than a year are initially exempt from tax up to Rs 1 lakh before becoming taxable at 10%. 15% tax is applied on short-term earned income for less than a year. Short-term capital gains are those held for less than 36 months and are taxed in debt funds at the investor’s income tax rate. After taking into account the benefits of indexation, long-term gains (held for more than 36 months) are taxed at a 20% rate. In contrast to fixed deposits, debt funds do better. FD vs. Mutual Fund Fixed deposits are usually the investment option of choice for a variety of Indian families. 53% of the median household’s financial assets are held in bank FDs, according to figures from the RBI that were released in June 2020. Despite having a long history in India owing to the creation of the Unit Trust of India in 1963, mutual funds have only recently—in the last 20 to 25 years—become popular among individual investors. According to AMFI figures, India’s AUM of mutual funds has grown at a CAGR of around 17% over the last 20 years. Despite their rapid rise, just 7% of household savings are held in mutual funds, according to statistics from the RBI. We will contrast FD and MF to assist investors in determining whether to invest in mutual funds or fixed-income securities. Five Key Differences between Mutual Funds and FDs Returns An FD’s rate of return is guaranteed, fixed, and ranges from 6 to 8% annually. Mutual funds, on the other hand, do not have a set rate of return. The returns vary depending on the mutual fund type, market performance, length of investment, etc. For instance, long-term returns from stock mutual funds might reach 12 to 13%, while those from debt funds can range from 7 to 9%. Risk Fixed deposits, or risk-free investments, offer guaranteed returns, thereby eliminating risk. On the other hand, mutual funds provide various risk levels based on the asset class, the length of the investment, and market volatility. The results are hazy and might alter over time. However, mutual funds also provide better returns than FDs. Investment Techniques You may open a fixed deposit with a bank or an NBFC. When the account is established, a single lump-sum gift is permitted. Contrarily, mutual funds may be opened directly with the organisation that manages them or indirectly through a broker. Mutual funds also provide two ways to invest: as a single contribution or via SIPs (systematic investment plans). Withdrawals Withdrawals from fixed deposits only provide a small amount of liquidity. They have a set tenure, and fines punish early withdrawals. However, there are no early withdrawal fees, and mutual funds have a high degree of liquidity. When you redeem your money, an exit load could be assessed. Your income is increased by the interest you get when your fixed deposits mature. It is taxed based on your tax bracket. Funds from mutual funds are taxed quite differently from other forms of income. Depending on the holding period, capital gains are subject to short-term or long-term taxation. Influences of Inflation To combat inflation, more than just fixed deposit yields are required. Inflation eats away at your money. In a situation with substantial inflation, you would get a negative return. In addition, an FD’s interest rate is decided when the deposit is established and fixed. Mutual funds, however, could provide inflation-adjusted returns. [B-02] Conclusion You may choose between mutual funds and fixed-income securities after taking into account your particular demands and financial goals (FDs). You may now decide based on your knowledge of the differences between fixed deposits and mutual funds. If you want to invest your money for future use safely, it is better to choose an FD. Also, even though mutual funds are riskier than FDs, the rewards might be large. To learn more about these, you can visit Piramal Finance for more details.
08-11-2023
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Education

5 Reasons to Invest in NPS

Today, you might not have to worry about your expenses since your earnings will cover them. But what do you do when you stop working as you get older? How well did you plan your retirement income so you could enjoy a comfortable and safe retirement? It’s time to think about it if you haven’t already. Among the most popular ways to save for retirement is through the NPS. [B-01] National Pension Scheme (NPS) With the National Pension Scheme, you save your earnings during employment so you can retire with a larger asset and a steady income. Residents between 18 and 65 can invest in this government-backed plan (citizens or non-citizens). Who is eligible for the NPS? The NPS pension scheme is open to anyone who meets the following requirements: A person must be a citizen of India or an Indian living abroad. The age range should be between 18 and 70. The candidate should follow the “Know Your Customer” (KYC) rules written on the registration form. The Indian Contract Act says that you must be able to sign a contract before you can do so legally. People of Indian Origin (PIOs) and Hindu Undivided Families (HUFs) cannot join the NPS pension scheme. Since NPS is a personal pension plan, it can’t be set up to benefit someone else. Why Should You Invest in NPS? NPS is better than personal retirement plans such as fixed deposits and PPF. Here are a few reasons why NPS is a good place to spend money. Investing in NPS has several benefits. The National Pension Scheme (NPS) allows people who want to plan for their days after retirement to save regularly. It has a lot of good points that make it one of the most popular ways to invest. Some of the reasons you should invest in the NPS pension scheme are as follows: Investing freedom You can make a one-time donation at any time during the year or give money every month. The basic annual payment for Tier 1 investments is 500 rupees, and the basic annual payment for Tier 2 investments is 1000 rupees. You can also change the amount you put in if it meets the minimum requirements. The factor of trust The National Pension Scheme also has the advantage that you can only use it if you have an NPS account. If you change jobs or move, your NPS account will go with you. Because NPS is a public plan, people tend to trust it, which makes it even more appealing. Source of earnings Generally, your source of income stops, but your home costs stay the same. Also, rising costs of living will have a big effect on many parts of our lives. So, if you want to keep living the way you do now, you’ll need to find a steady source of income. The NPS pension scheme gives you a pension as an option for retirement, which can save your life when you need it most. Investing in a Low-Risk Portfolio The NPS is a low-risk and low-cost plan compared to other ways to invest. Also, since the government backs it, the risk limit on stocks under this plan ranges from 50% to 75%. When an investor is 50 years old, 75% of their money is at risk. When the investor is 60, that number drops to about 2.5%. Because of this equity exposure, the NPS gives you a chance to make more money with less work and less risk. Flexibility in Fund Allocation Investors can make their fund portfolios fit their own needs with the help of the National Pension Scheme. Investors may divide their investments among the four assets depending on their risk tolerance. If an investor is unhappy with how the fund is doing, the fund could be changed. Guaranteed Refunds Even though some of the National Pension Scheme is invested in market shares, the returns are still guaranteed in the long run. Also, the guaranteed returns from these plans are higher than those from FDs or PPFs, which are other ways to invest. Tax Benefits Section 80C of the Income Tax Act says that the NPS can help people save money on their taxes. Section 80CCD lets you get a tax break for NPS contributions of up to Rs 50,000. (1B). Section 80C of the Income Tax Act lets you get a tax break if you invest Rs. 1,50,000. This could save you a lot of money each year. How To Create NPS Account in Less Time? Accounts for the NPS can be made both offline and online. Online saves a lot of time and is easier than in other ways. What to do online At the moment, opening an NPS pension scheme account takes less than 30 minutes. Users can open an account online if they link it to their PAN, mobile number, and Aadhaar. The OTP sent to your phone can be used to confirm your registration. It will give you a PRAN, a permanent retirement account number, that you can use to get into your NPS account. [B-02] Conclusion Without a doubt, it’s hard to overlook the benefits of an NPS investment, especially since there aren’t many other ways to invest with benefits like these. During the basic registration process, you can quickly start putting money into the NPS online through banks, credit unions, and registered dealers. Remember that the power of repetition lets you get the most out of this plan. Investing in the National Pension Scheme (NPS) could help you when you need stable money the most in your later years. So, invest in NPS now to ensure you’re ready for the future. Visit Piramal Finance to find out more about this subject.
08-11-2023
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Home Loan

5 Reasons To opt For Home Loan Refinance

Choosing the best mortgage often makes sense, even if it is a matter of personal preference. There is no “one-size-fits-all” refinancing solution, but with some careful consideration, you may choose wisely. Refinancing your home has many benefits, but one of the biggest is that it lets homeowners get better loan terms and lower their monthly payments. Refinancing can be the best choice if your mortgage has a high interest rate or your monthly payment exceeds 20% of your income. However, many individuals don’t realise all the fees involved in refinancing and regret their decision. We must first understand what it is and how it works before proceeding. [B-01] How Does Refinancing a Home Work? There are a few things to think about when refinancing your mortgage. To guarantee that you may get a reduced interest rate, check your credit score first. You will feel more confident about refilling at a reduced interest rate if you have a good credit score. Second, shop around online to see what rates you are eligible for, then compare the costs of refinancing against the advantages of a reduced interest rate. Third, inquire if your current lender can match the prices you see online. This will help you comprehend the procedure and determine if refinancing is a smart choice for you. The last step is to apply for pre-approval, which may be done in person, over the phone, or online. You may determine how much a lender will lend you by getting pre-approval. Pre-qualification happens quickly, but pre-approval might take several days. But be sure to balance the benefits of a lower interest rate against the costs of refinancing. If the savings aren’t enough to cover the costs, the benefits of refinancing won’t be worth it. Consult a financial advisor if you’re unsure whether refinancing is smarter. They can help you decide which refinancing option is appropriate for your financial situation by explaining its advantages and disadvantages. 5 Reasons for Mortgage Refinancing There are several reasons why you might want to refinance your mortgage. We’ll go over some of the more crucial ones. Your existing loan has a high interest rate Refinancing is often done to reduce interest costs. You will save money on interest on your loan if you can lower your interest rate by even a quarter of a percentage point. Savings of tens of thousands of rupees or perhaps millions are feasible. Refinancing might lower your monthly payments if your current mortgage has a high-interest rate. This is especially true if interest rates are historically low. A refinance could save you much money over your current loan; for example, if your current interest rate is 7.2% and your fixed-rate mortgage has a 9% interest rate. For instance, the interest on a Rs 80 lakh home loan with a 20-year term at 9% would be around Rs 90 lakh. You might save almost INR 20 lakh if the interest rate falls to 7.2% over the next 10 to 15 years. Even a small change in interest rates could save a lot of money and provide much-needed financial comfort. Do you want to modify the loan’s term? The opportunity to shorten the loan’s term is another reason to refinance. The shorter the loan term, the less interest you pay during the housing loan. It’s best to pay off your debt as soon as possible. Certain lenders could let you modify the terms of your mortgage when you refinance. A lender may be able to refinance a 30-year loan with a lower interest rate and a shorter term if you desire a lower monthly payment. As a result, your monthly payment will be less. However, you will have to make more payments over the loan’s term. However, whether it makes sense to refinance depends on how long your current mortgage will remain outstanding. If you have a mortgage that is less than five years old, you might want to refinance to take advantage of the low interest rates and lower your monthly payments. Each month, you are paying more than you ought to Examining the numbers is the easiest way to determine if you should refinance your mortgage. If your current interest rate is higher than current rates, refinancing can help you save money. But there are many reasons you may want to refinance your mortgage. Your income, debt, and other factors play a role in determining your monthly payment. Perhaps you’ve received a raise or cleared some debt over the years. Refinancing can be possible if you feel you are now in a better position to make larger monthly payments. Depending on your financial situation, you might pay off your EMIs and change your loan’s term from 30 to 20 years. You want to switch your rates from variable to fixed, or vice versa If you currently have a housing loan with a variable rate and think the current interest rates are perfect. Refinancing could be the best option for you to bring it down to the present fixed rate. Since your monthly payments will remain the same, you can develop a balanced financial budget. There are always two alternatives available to borrowers: switching fixed-rate mortgages to floating-rate mortgages or staying with fixed-rate mortgages. This loan is meant to give people options if they don’t like how a fixed-rate mortgage limits them. Improve the value of your home Your house is an asset you can rely on in times of need; the necessity to pay off your mortgage shouldn’t prevent you from maximising your asset. Mortgage refinancing could give you financial freedom by letting you set up a line of credit on your property. You may borrow money based on the value of your house by opening a line of credit or using your equity. Your eligibility to borrow money is determined by the current worth of your home and the percentage of your mortgage that has been paid off. [B-02] Conclusion Even refinancing is not free in this world. There are a few fees to think about when refinancing your mortgage. Refinancing may include fees depending on your lender and the kind of loan you have. You’ll almost certainly have to pay hefty pre-penalty expenses if you refinance. A decent rule of thumb is to compare your projected expenses against any potential savings. You will save fees via refinancing, just as you did with your first loan using Piramal Finance. When you sign a loan with a high interest rate, the fear of these fees might cause financial poison. Don’t be startled if you encounter these charges; there are several ways to handle them.
08-11-2023
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Stocks Markets

5 Rules of Equity Investment

Buying stocks is not a guessing game. First-time investors are looking for financial advice and ideas for equity investments. One of your top goals should be to learn about the stock market. It is important to know about the different trade methods available to investors. Also, it’s important to stick to the five golden rules of investing in stocks. [B-01] What does equity mean? To understand equity investment, think of it as a company-led fundraising effort. Instead of getting a loan from a bank with high-interest rates, a company raises money from the general public. People can then buy an equity share of the company, making an equity investment. After you buy shares, you will get a share of the company’s profits, called a dividend. So, equity is a share, stock, or other similar document that shows that a person owns shares in a business. When someone buys equity shares of a company, they become a part-owner of that company. What Options Does Equity Have? Most people invest in stocks through equity shares or mutual funds. Stock shares Equity shares are a part of a business’s capital, and an IPO (initial public offering) is what a company does when it wants to sell its shares on trading platforms. A company’s total worth is equal to its shares’ total value. Stock mutual funds (MFs) Mutual funds are a way of investing money as a group. Mutual funds work by getting money from many investors and putting it into securities, equity shares, bonds, and other assets of companies that are publicly traded and make money. As was said, a mutual fund is a group of equity shares from different companies. Venture capital and private equity investment capital are two other options. But they are not good for traders who have never done this before. How Do I Begin Investing in Stocks? Investing money or wealth is a wise decision for anyone at any stage of their lives. Because of this, it should be done carefully and with a plan. When you invest money, your goal is to build up a second source of income and a large amount of money for your life that grows in value over time. Because of this, it is important to know the first steps of this hard but rewarding path. Figure out what kind of trader you are Tell me again, “What kind of trader am I?” “How much more risk can I take?” “How much money should I set aside?” This information can help you decide what kind of equity investments to make and, more importantly, help you figure out your long-term financial goals. Use technology to your benefit There are many ways to get financial advice now that technology has reached a good level of development in the financial industry. Machine learning is used by many advisory services to help their clients choose the best investments. Use this with other applications for financial planning to keep track of your monthly investments, costs, and other things. Your investment portfolios will be better off using AI and human input. Five basic rules to follow when investing in stocks Here are some basic steps that you should take when you invest in stocks: Have a goal and keep your mind on it This may sound like advice from a life coach, but it can also help with money. Without a plan, going straight into the stock market is like committing financial suicide and should be avoided at all costs. If this is your first investment, you should devise a plan based on your short and long-term financial goals. Once everything is in order, you can make an investment plan that fits your needs and goals. Investing also requires you to be responsible with your money in other ways, like saving money every month. So, remember to save your set amount each month and stick as much as possible to your spending limits. Keep a record of your investments Some investors might be OK with putting their money somewhere and then forgetting about it. But if you are a new investor, it is important to keep track of how your equity shares are doing. Depending on how the funds have performed, you should change and mix up your portfolio as needed. It’s also important to stay up to date on business news and plans so you can use them well. There’s no shame in asking a financial expert for help if you need to. Avoid herd mentality by not following “that advice” When it’s time to buy and sell, a new investor always wants to go the safe route, just like the other traders. You could even be tried for following what your friends or family tell you about popular stocks and funds. But it’s not smart to be a victim of this kind of thing because it could hurt your bank account. You need to do your homework and learn how the stock market works. Keep up with the daily sheets and the latest news, and don’t be afraid to ask a financial expert for help. Always try to grow your investments “Don’t put all your eggs in one basket” is good advice regarding investing. This is a hard rule to stick to because it’s human nature to keep putting money into stocks and mutual funds that have done well for you in the past. We do this because it has helped us in the past and to avoid danger. But the financial world is always changing, and something that was a good investment yesterday might not be today. So, looking for new and better ways to invest is important to keep the portfolio active and growing. Long-term thinking is the best strategy There are better ways to trade than just trying to make a lot of money. It’s easy to think that investing in stocks is a quick and easy way to make money, but if you want your money to grow for your career, long-term stocks are the way to go. Focusing on returns in 8–10 years allows your equity shares a better chance of earning bigger returns. Having a long-term perspective also keeps you from making quick decisions based on how stocks change. [B-02] Conclusion When you buy equity shares, you should follow the rules we’ve discussed above. Before you start your investment plan, you should learn about the challenges of the stock market. This makes it more likely that your money will get better. Your goals will grow if you put money into them correctly. To know more about equity investment, visit Piramal Finance and explore their products and services.
08-11-2023
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5 Smart Financial Steps Young Adults Should Take

A new year comes with many possibilities and the chance of a new start. Whether or not one’s goals were met in the past year, looking forward is always the first step toward a better future. If the last two years have taught us anything, it’s important to save money and be ready for whatever life throws at you. Building wealth takes time. According to scientific research, it takes a new habit about 66 days to become part of your daily routine. So, now is a good time to plan finance and build good money habits. Here are steps in financial planning you could take in 2025 to reach your goals. [B-01] 5 Smart Financial Steps for Young Adults Track Your Expenses Tracking your expenses is a good first step in financial planning. Know where and how much of your money is going. When you look at something from a different angle, it can help you understand it better. So, look at your income and expenses from a wider angle. Then, narrow your attention to how wisely you can spend your money. Keeping track of all your spending can take time and effort. Managing your expenses is the first step to plan finance better. You can keep an eye on all your transactions. You could better look at your spending history and decide how to spend your money. There has been a big shift toward digital spending in India in the past few years. So managing your expenses is one of the best pieces of financial advice. Start Investing There is no right or wrong time to start investing. You don’t have to be “The Big Bull” or “The Big Bear” to start investing in the stock market. Make several safe, low-stakes bets to get started. Systematic Investment Plans (SIPs) are a simple and effective technique that you should use. SIP has become a popular way to put money into mutual funds regularly. It is similar to a recurring deposit. So, it gives you freedom in your steps of the financial planning journey. After that, you can work on building a portfolio of different kinds of financial instruments. Look into low-risk mutual funds and always think about the long term. Fixed deposits, recurring deposits, provident funds, the national pension scheme, and other safe options are also good for people who don’t want to take as many risks. Also, remember another plan of finance, the power of compounding. This gives you a slow and steady income source. But keep in mind that market-linked financial programs cannot avoid risk. So, building a risk tolerance that fits our goals is important. Don’t let FOMO (fear of missing out) influence your investment decisions. Be sure to invest, but don’t invest just because you want to take advantage of it. As financial markets involve risks, you should always do your research and never depend only on the advice of others. Set Financial Goals Goals provide accountability. When did you last make a finance plan? If it has been a while, now is the best time. Think about what you want to do with your money in the coming year. Start a fund for emergencies or pay off your credit card debt. It’s okay if your goals differ from those of the other people in your life. Once you have written down your goals, you can figure out what steps you need to take to get there. If a goal seems too big, you can break it up into smaller tasks that are easier to do. This will make the goal as a whole easier to reach. Build an Emergency Fund No one knows when something bad will happen. It could be losing a job, getting sick, or fixing the house. These kinds of emergencies can make it hard to stick to your budget. An emergency fund can help in this situation. You should have an emergency fund with enough money to cover your living costs for at least six months. This will help you get through a short-term financial problem. Work on saving money for emergencies. At least 10% of your monthly income should go into a high-yield savings account that you can easily access in an emergency. You might have to cut back on spending or get a second job to put money in your emergency account. Tax Planning Tax planning is fundamental and essential financial advice. It helps to lower your tax bill. Don’t look for ways to save money on taxes only at the end of the year or when it’s time to file your taxes. Start making plans early, ideally at the start of a new fiscal year. There are many ways to lower your tax bill, such as investing in government programs to lower your taxable income. Another way is to plan your tax deductions ahead of time so that you can get a lower tax bill. Standard deductions include life insurance, health insurance, mutual funds, and house loan interest. Financial Advice for Your Better Financial Future Check out Your Credit Score It is one of the vital steps of financial planning. You need a good credit score to grow your assets and get good deals on loans and credit cards. Check your credit report from the three major credit bureaus once a year, and correct any errors right away. Know the Debt-to-Income Ratio Keeping track of how much money comes in and goes out is very important. This is the most important thing you can do to keep your money in good shape. The money that comes in is your salary, cash vouchers, bonus, rental income, investment returns, etc. The money that leaves your account is what you use to pay your bills and debts. Once you know how much debt you have compared to how much money you make, you can take the next step toward building wealth. Save Money for Retirement It’s always true that the earlier you start saving, the more money you’ll have when you retire. That’s how interest on interest works. When you regularly invest for retirement, your money grows steadily, which helps you be rich when you retire. [B-02] Wrapping Up Planning your finances is the first step to being financially secure. It’s vital to begin the journey by completing simple goals. You can get a good financial start if you know the basics. If you make smart money choices in your 20s, it can help you become financially successful. Using the tips above, you can work on getting a good credit score, getting out of debt, and saving money for retirement and other big events.
08-11-2023
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5 Reasons to Buy Insurance Online

A few years ago, insurance firms in India began using the internet to sell insurance plans online. Because of this, brokers’ insurance can now be bought online with the help of a computer. In the past few years, the online insurance business has grown. Even though more people are buying insurance online, some people are still hesitant to do so. If you are one of them, you need to get back on track and start making plans as soon as possible. Let’s discuss the main reasons why it makes sense to buy insurance online. [B-01] What exactly is an insurance plan? A client’s insurance coverage is written down in a document that can be viewed online or printed. The policy gave some information, like the client’s name, the coverage details, how the payments would be split, and other similar facts. An insurance policy’s start and end dates are known as the insurance term. The insurance company will only pay for things that happen during this time. Upgrades can be made to the insurance to make the coverage last longer. What are the forms of insurance available in India? Insurance in India can be broken down into three main categories: Protection for life Life insurance is insurance for your life, just like the name says. You get life insurance so that your family won’t have to worry about money if you die too soon. Life insurance is very helpful if you are the main source of income for your family or if your family relies on your income a lot. Coverage for health People buy health insurance to cover the costs of emergency medical care. Different health insurance plans cover a wide range of illnesses and disorders. The cost of a health insurance policy usually covers the cost of treatment, hospital stays, and medications. Automobile insurance Vehicle insurance is something that every car owner needs to have today. This insurance protects you against car accidents you can’t plan for. Insurance to pay for school Early education insurance is like a life insurance policy set up specifically to help people save money. When your child turns 18 and is old enough to go to college and gets accepted, education insurance could be a good way to give them a lot of money. Homeowners’ insurance Everyone wants to own their own home. Home insurance can help pay for damage or loss to your home caused by things like fire or other natural disasters or risks. Other things, like fires and earthquakes, are also covered by home insurance. Why is it a good idea to buy insurance online? One of the best places to get insurance is online. You can buy insurance from the comfort of your home with just a few clicks. But buying insurance online is easier, more convenient, and cheaper than buying it in person. Read on to learn about the benefits of online insurance policies like health insurance, travel insurance, and vehicle insurance. The cost of insurance is going down One of the best things about online insurance in India is that it can save you money on prices. Buying online directly from an agent saves the insurance company money on administrative costs and broker fees. And the costs are much lower because everything is done online or without paper. These benefits may be passed on to you in the form of lower prices when you buy insurance online. Smarter choices are easier Regarding insurance, the internet can also help you find a key term. For example, insurance agents can tell you what similar company policies cover and how much they cost. Insurance companies list all the important parts of their policies on their websites, such as their features, restrictions, and terms. This lets you compare the pros and cons of different policies before choosing the one that fits your needs best. Ease of purchasing All other factors favour the easy one. With just a few clicks, you can get insurance online. This lets you buy from the comfort of your home or while on your way to another event. All you need to complete your insurance rules online is access to the internet. Automation of service Clients may deposit their bills using the insurance companies’ simple and friendly web portals. You could finish the whole process of buying in less than an hour. You can also get free estimates once a year, look at policy manuals, handle complaints, and track your investments. When getting insurance online, you don’t have to rely on anyone. Online insurance offers secure payments Any online insurance payment is safe since the provider does not keep the user’s payment data. Online insurance forms are checked carefully to ensure there are no weak spots. Your financial information is handled by payment processing, while the insurance company only pays the cost. This makes it less likely that an agent will forget to pay a bill you already paid. Can I buy insurance online safely? It is easy, quick, and cheap to buy insurance online. You no longer have to go to an insurance company’s office or meet with an agent to buy a policy. Now, you can get all insurance products and services online. All insurance companies in India only let customers buy policies online. When you compare online and offline insurance policies, you can find out more about your options and make a smart choice. Buying insurance online is a great idea because it has so many benefits. [B-02] Conclusion The insurance company’s customer service can help you choose the right coverage and avoid any problems. When you buy insurance online, you get exactly what you see online. This protects you without worrying about a claim being denied because of bad sales. The internet has made it much easier and clearer to buy things and services online. Aside from being easy to buy and having a clear way to sell, there are several important benefits to buying insurance online. You’ll save money on fees if you refinance, just like you did when you got your first loan through Piramal Finance. When you sign for a high-interest loan, worrying about these fees could hurt your finances. Don’t be surprised if these charges come up; there are several ways to deal with them.
08-11-2023
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