Tweets on 2010-03-31
@ Ahobala Lakshmi Narasimha Temple, Sira. Thanks DJ!
Month: March 2010
Tip Tuesdays: How to Set a Financial Goal?
Here’s a real example for one of my financial goals. Goal #1: Eliminate car loan debt I want to eliminate my car loan debt by December 31, 2010. Achieving this goal will make me debt-free! To achieve this goal, I will: a. Save 1 EMI payment (i.e. Rs X) and an additional amount of Rs […]
Five Financial Mistakes That I Made In the Past Year
With a new financial year just around the corner, I thought I’d reflect back and list the financial mistakes that I made in the past year. 1. I let my independent health insurance lapse. I’ve written time and again about the importance of having independent health insurance — one that’s not provided by your employer. […]
Awareness Fridays: Payment of Interest on Savings Bank Accounts Will Now Be On a Daily Product Basis
Up to now, interest on savings account balances were calculated on the minimum balance in the account during the period from the 10th day to the last day of each calendar month. With this archaic method (introduced way back in 1987), you’d lose out on earning interest each time you withdrew money on or after […]
The Truth Always Lies In the Calculations
Do you want to know what the impact on your income tax payable will be when the new income tax rules come into effect? Do you want to know what the impact on your home loan tenure will be if you decide to prepay a certain amount? Do you want to know what the EMI […]
Tip Tuesdays: Understand the Cash Outflow of a Financial Instrument Before You Invest In It
It’s March and I’ve seen a good number of people blindly investing in a financial instrument (usually Unit Linked Investment Plans) at the very last minute for the sole reason that it saves them from paying a certain amount of income tax. What’s forgotten in the heat of the moment is the cash outflow that […]
Tweets on 2010-03-09
“HDFC Bank has the discretion to reject payments above the outstanding on your card.” My Q: Why would a bank ever want to refuse your money? # “Explore the world with HDFC Bank Personal Loans.” It’s honestly a bad — no, terrible — idea to explore the world on a personal loan. # Tweeting from […]
Tip Tuesdays: When’s a Good Time to Close a Mutual Fund Investment?
D, posed this question to me the other day — when should you close your mutual fund investments? Simple. Whenever it meets your expected goals/returns. PS: If you hadn’t set a goal when you invested, either set one now or close your investment right now.