Author: Anupama Aggarwal

Know How to Invest your Small Monthly Savings.

While most of us hesitate in investing other than in the usual banking products, in case you would like to start small then mutual funds are a great option. Mutual funds might sound challenging but let me simplify them for you and also explain the simple tool of SIPs (Systematic investment plan), which is easy and convenient. A Mutual fund is a company that creates a pool of money from investors like us and then manages that pool by investing in Government securities, bonds, equity shares, and other financial instruments. All Mutual Funds schemes are registered with and regulated...

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Know the steps towards growing your Kid’s Piggy Bank

We sometimes wonder if we are on the right track when it comes to saving for our child’s future. It starts from the time they start their first steps at school. The cost of education is only rising day after day and we pray and hope that we have enough saved when it comes to their education- graduation & post graduation. After all, this can’t be compromised right? On my 16 years old’s birthday this year, it hit me- I have only 2 more years before he starts his graduation. Besides, the typical apprehension of my baby flying out...

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Life Contingencies – My Experience

It was only last year when I had talked about life contingencies in my write up {Read Here – Part I & Part II}.  Didn’t know that I will have to deal with them so soon! An uncle of ours (My mamaji) caught ’Superbug’. By the time it was diagnosed, the bacteria had affected his heart. Despite undergoing a heart surgery to improve his situation, he lost his battle with life. Five months and he was gone – a hale and hearty person who brought lots of happiness to all around him. What he left behind for his widow (he didn’t have any kids) besides the emotional trauma of leading life alone, was an enormous hospital bill. Thankfully the family had chipped in for all the expense during the 5 months of hospitalisation. I wish he had adequate life and health insurance in place. My aunt wouldn’t have been struggling with ways to secure a steady source of income for herself. Unexpected medical expenses wouldn’t have been a dent on the family’s savings. Meanwhile, I too had to undergo an open surgery during the same period. With cancer suspected, doctors told me to get the surgery done without any delay. Fortunately, all went well with the surgery. But the episode did shake me up. We just assume that we are invincible and bad things happen only to others. It...

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Know your child’s money habits

As a parent, one realises the fact that each child is different even if they are siblings. They can have contrasting habits and personalities when it comes to their basic nature like eating habits, food preferences, toys and even the kind of friends they make while growing up. Understanding this, it becomes increasingly important to deal with them; teach them aspects of life-differently; even aspects of money matters. By nature, some kids are spendthrift and maynot value money enough. As a parent it becomes critical to explain them the value of money. My eleven year old daughter spent not...

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Know the Returns on your Money

While conducting a session for women during the International Women’s week at a corporate, I realized that most of us women are not sure what returns they should be looking for in investments. This is a basic fundamental of any investment which I would like all my readers to know and understand for sure. The ‘Rate of return’ is the return that we get from the investment plan. The Rate is specified by the product offering in terms of Interest earned/ dividend policy or by word of mouth in a product recommendation by an advisor. This figure can be...

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Off-Beat Careers – Look beyond the obvious!

Few decades back, a career meant becoming an engineer, a doctor, an IAS officer or a manager and for most women, it was the tried and trusted profession of lecturers and teachers. But not anymore! Times have changed. Now opportunities are galore – restaurateur, painter, writer, landscape designer, cake specialist, wedding planner, astrologer, photographer, radio jockey, chocolatier – you name it! Even in the regular professions, more and more people are taking the consultant or entrepreneur route so that they have more control over the quantity and quality of work they do. One factor that most of these off beat careers share is irregular income. So how does one cope with such a flow of income that is not steady – sometimes more, sometimes less and sometimes none? How does one provide for expenses which unfortunately may not match the irregularity of income and are incurred irrespective? Having been an entrepreneur myself, I have experienced this first hand and can tell you that only you can find the system that works best for you. Let me share the method I have experimented and used successfully and maybe that can be a basis for yours. First create a buffer for this profession, a few months before you quit a salaried/steady income job. This buffer should be equal to at least 2-3 months of estimated expenses. If your new profession is...

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