Category: Finance and money

Money Gym by Women on Wealth

I was on the Women on Wealth WhatsApp list for close to a year without a clue as to who they are or what they do. So what’s new? Everybody wants to be rich and famous. Ok, at least rich. And everybody who is a coach, consultant, a healer has the answer to how to be rich or more “spiritually” how to attract abundance. What’s different was my question? And then one day early Feb this year I got a call from a woman who spoke to me about what the Money Gym program had done for her.  A...

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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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5 Financial Tips for Married Couples

‘Love is blind, but marriage opens your eyes.’ You’ll see the digital and the real world strewn with quotes like this. Is marriage really so infamous or the myopic view of life being an endless string of dates and movies is hampering the perception of a lifetime commitment. More often than not the romance ends when the couples face financial restrictions. Arguments brake out, bad blood is spread and the delicate thread of love is severed. To ensure that the rose tinted glasses never come off, here are a few tips to consider for managing your joint finances: Discuss...

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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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