Usha and Rajan Sanklecha got into a financial plan pretty late in their lives, but it helped them take away an important financial lesson: that it’s never too late to streamline yo ... Read more
Usha and Rajan Sanklecha got into a financial plan pretty late in their lives, but it helped them take away an important financial lesson: that it’s never too late to streamline your finances and it’s important to put your money life in order even when you just have a handful of goals left to achieve. In the process, the Sanlechas also learned that one needs to invest in liquid assets to be able to use them when the need arises, instead of piling everything in an illiquid asset like real estate. We tell you their story. Read more
It’s always a good idea to start investing when you are young. You get adequate time to invest and given the long investing period, the money gets enough time to multiply manifold ... Read more
It’s always a good idea to start investing when you are young. You get adequate time to invest and given the long investing period, the money gets enough time to multiply manifold and help you meet your goals. But it’s important to steer clear of some of the common investing goals. Saloni Mehta, 23, made some of these but her finances were back on track when she hired a financial planner to give her the direction she required. Here’s her story. Read more
Insurance mis-selling is selling insurance policies based on false claims or inadequate disclosures. Watch the video to know how to reduce the chances of mis-selling. Read more
Insurance mis-selling is selling insurance policies based on false claims or inadequate disclosures. Watch the video to know how to reduce the chances of mis-selling. Read more
Unit Linked Insurance Policies (ULIPs) have costs and charges under several heads. It is important that you know what they are BEFORE buying a policy. Some policies will waive some ... Read more
Unit Linked Insurance Policies (ULIPs) have costs and charges under several heads. It is important that you know what they are BEFORE buying a policy. Some policies will waive some charges or refund them after a certain number of years. While a waiver is undoubtedly positive, note that a refund does not take into account inflation. Hear this episode to find out the 5 major heads of ULIP charges. Link to the article by Deepti Bhaskaran: https://bit.ly/2O172n2 Read more
A surrender is a premature termination of a life insurance policy. In return, you get what is known as the surrender value. In a term insurance policy, there is no surrender value. ... Read more
A surrender is a premature termination of a life insurance policy. In return, you get what is known as the surrender value. In a term insurance policy, there is no surrender value. If you terminate the policy your insurance cover stops. Listen to this episode of why not mint money to find out whether or not you should surrender your life insurance. Read more
One question people often grapple with is, how much insurance do you actually need? Life insurance is used to take care of the financial needs of your dependents. An assumption has ... Read more
One question people often grapple with is, how much insurance do you actually need? Life insurance is used to take care of the financial needs of your dependents. An assumption has to be made based on the financial needs of your dependents. Listen to this episode of why not mint money to find out all you need to know about your insurance needs. Read more
You only need life insurance if you have financial dependents. If you are only looking to invest, you should NOT be ‘investing’ in life insurance. Insurance is a poor investment an ... Read more
You only need life insurance if you have financial dependents. If you are only looking to invest, you should NOT be ‘investing’ in life insurance. Insurance is a poor investment and you can get better returns and lower costs in mutual funds. Read more
The importance of having equity in your portfolio has been emphasized enough but one also needs appropriate debt allocation. From building an emergency fund to planning for your sh ... Read more
The importance of having equity in your portfolio has been emphasized enough but one also needs appropriate debt allocation. From building an emergency fund to planning for your short-term goals to retirement, having good debt exposure might be a good idea. We tell you about different debt instruments that you can identify for different needs. Read more
You may want to file a complaint against your bank for a host of reasons. Though approaching the bank's grievance redressal department may be your first instinct, it may not always ... Read more
You may want to file a complaint against your bank for a host of reasons. Though approaching the bank's grievance redressal department may be your first instinct, it may not always be helpful thus pushing you to escalate it further. Mint's Disha Sanghvi explains the processing of filing a complaint against your bank with the banking ombudsman. Read more
Having too many bank accounts does no good to your financial lives because you're required to maintain an average quarterly balance. If you think you have too many bank accounts wi ... Read more
Having too many bank accounts does no good to your financial lives because you're required to maintain an average quarterly balance. If you think you have too many bank accounts with very little activity, it's best to close them. Mint's Disha Sanghvi explains how you can go about closing a bank account. Read more
