financial planning Archives

May282022 by Paul LinusNo Comments

Financial planning: Saving is key to stable income for life

Finance

Smart financial planning revolves around saving money from your income. Fundamental financial wisdom for centuries has been to spend less than what you earn. But many people around the world either do not save at all, or even spend more than what they earn. So they borrow money on interest and accumulate debt. The result is that instead of earning interest on investments, they end up paying interest on borrowings. That creates the opposite of wealth creation, which is wealth erosion. Save a Percentage of Your Income You always have two choices in life. The first and the most tempting choice is that you spend all that you earn and live for today. But tomorrow when you retire, or go through a rough financial patch even before you retire, you will not have a financial cushion to sof...

Aug272020 by Carol JamesNo Comments

Covid-19 Treatment in India Could Cost a Fortune: This is What the Numbers Show

Health

It is impossible to argue against the fact that the global pandemic has been a real game-changer and the Covid-19 outbreak has changed our way of life as well as our thinking in terms of our healthcare options. It has always been prudent financial planning to consider health insurance plans for the family but that need has been accentuated by the frightening statistics associated with the threat of Covid-19. The introduction of a Corona Kavach plan is the Indian health insurance industry’s response to the need for suitable medical cover for you and your family and when you look at what treatment for Covid-19 could cost you can see why it would make sense to have that protection in place. A change to the healthcare landscape If you have a typical health insurance policy in place it ...

Aug192020 by Paul LinusNo Comments

Comprehensive financial planning – Need credit card having bad credit

Business

Comprehensive financial planning - You've defaulted on past credit agreements and this has been reported to credit reference agencies. "I have a horrible credit and need a credit card," describes your position perfectly. Don't despair as issuers offer a variety of pre-paid, secured and unsecured credit cards for damaged credit on revised terms, says comprehensive financial planning expert. Your application for a credit card has recently been declined because issuers have tightened their eligibility criteria in the face of rising default rates, adds comprehensive financial planning expert. Credit cards for poor credit scores don't involve credit scoring. Issuers minimize the risk they face by requiring a cash deposit or by offering a lower credit limit. Unsecured Credit Cards for ...

Jul102020 by Paul LinusNo Comments

Strategic financial planning – How mutual funds work

Finance

Strategic financial planning - Mutual funds are popular, albeit often misunderstood, investment option. For the newer investor, mutual funds offer an alternative to risking precious money on a large number of different stocks or other investments. Pooling of Funds Is a Key Component Mutual fund accounts contain a wide diversity of securities, permitting individuals to join others in making smaller investments, while creating dollar pools large enough to make significant purchases of quality stocks, precious metals, bonds, or U.S. Government obligations. This pooling of money gives the fund the financial strength to make both wise and large purchases. Pooling also permits smaller or less sophisticated investors to enjoy the benefits of owning a small percentage of a wide variety o...