Money Saving Tips

Virtual Credit Card https://www.fundstiger.com/virtual-credit-card/ A virtual credit card is an electronic card which can be created using the bank’s net banking facility, by providing one’s credit or debit card details. No charges have to be paid for the same. As the name suggests, they need not be physically issued by card providers. Features of Virtual Credit Card It is a virtual card so you need not worry about theft or misuse. It is a prepaid card where you can define your own limit. A virtual credit card is one-time use card and it is self-destroying after 24 hours. This card can be used only for online purchases. No additional service charge applicable for using virtual credit cards. Benefits of using Virtual Credit Card A virtual credit card comes with a good number of benefits and the most significant ones among them have been listed below: 1. Convenience Because the virtual credit card doesn’t have any physical form, its details can be saved on your mobile

Income Tax changes expected in this year’s Budget https://www.fundstiger.com/income-tax-changes-expected-budget-2020/ Tax experts expect some rationalisation as there is a steep jump in tax rate when income exceeds ₹5 lakh Some tweaking in dividend distribution tax, long term capital gains tax on listed shares are also high on the wish list The lowering of corporate tax rate has triggered hopes that Finance Minister Nirmala Sitharaman will announce some relief on the personal income tax front in this year’s Budget. From rejig of income tax slabs or rates to higher deduction, expectations are high though tax rate cuts will definitely hit revenues at a time when government’s finance’s are strained. Apart from some rationalisation in income tax rates, experts also expect the government to tweak dividend distribution tax and long term capital gains tax on listed securities. 1) According to the current tax slab, income up to Rs 2,50,000 is tax exempt from Rs 2,50,000 to Rs. 5 lakh

Loan Against Property – Factors to be considered https://www.fundstiger.com/loan-against-property-factors-considered/ With a loan against property, you can overcome any cash crunch, especially that which requires a substantial amount. Whether you are paying for your child’s wedding, financing overseas education or starting a business venture, a loan against property can fund it all. However, the key to a financially stable life is retaining ownership of the property you have pledged, which is much easier to do when you have your priorities in order. Look at all you need to consider when you are taking a loan against property. Factors to consider before taking a LAP 1. Loan amount and disbursal Maximum loan amount depends on the valuation of mortgaged property. Lenders provide 50-75% of the property’s market value. While evaluating the market value of the property, lenders take into consideration various factors such as location and age of the property, infrastructure, geogra

How to secure your Future Financially? https://www.fundstiger.com/secure-future-financially/ With the economy slowing down and many investment products failing to meet investors return expectations it is normal for the common people to feel unsure about the market. This could be a cyclical economic phase, but not having a serious relook at your financial goals and your investment portfolio at this stage may prove to be a costly mistake. The following measures will help you tide over difficult times. 1. Invest in Installments Investors may find it risky to invest when the market is volatile. Suppose you invest a lump sum amount, say Rs 1.2 lakh, in a mutual fund scheme at a net asset value of Rs 100 and the market falls thereafter this may negatively impact your entire investment corpus. So, the best way to invest during uncertain market conditions is by fragmenting the corpus and investing in instalments. For example, you may invest Rs 1.2 lakh in a liquid fund and start

Things to check before opting for P2P lending https://www.fundstiger.com/things-before-opting-p2p-lending/ Peer-to-peer lending, or more popularly known as P2P lending, is the online financial framework that connects lenders and borrowers on an online platform without a bank acting as the third party. This lack of intermediaries, and subsequently the lower costs involved, make P2P lending an attractive investment opportunity. In P2P lending, some structure is being brought by the Reserve Bank of India (RBI). The P2P entity, which brings the lender and borrower together, cannot offer any guarantee on the loan. RBI regulation states that the P2P “shall not provide or arrange any credit enhancement or credit guarantee”, so the lender has to go for unsecured lending. What then are the security features in this form of lending? The service provider or the P2P entity, provided it is a serious market participant, would list on the website its role, how it can help you and how they c

5 Money moves to improve your Finances in 2020 https://www.fundstiger.com/money-moves-improve-finances-2020/ As we bid farewell to 2019, here are nine strategies that can help improve your finances in 2020. Follow them to become richer in 2020. 1. Use a Portfolio Tracker Do you know how your funds did in 2019? Or how much returns have you earned in the past three years? Are all the funds in your portfolio performing well, or do you need to get rid of some? Not many investors will be able to answer because they wouldn’t have ever taken a holistic view of their portfolio, leave alone analysing it. Investors will particularly like the tax section, where the investor gets to know the capital gains he has earned in each financial year. That’s not all. The capital gains from debt and hybrid funds are indexed to inflation so you don’t have to do any complex calculation when filing your tax returns. Many individuals may have lost track of the investments done in the past and won’t

Investment Mistakes to Avoid In 2020 To protect your money box in 2020, here are 8 financial mistakes you should avoid. 1. Investing without a Plan One must have a clear goal before starting to invest. What are your goals? How many years away is the goal. How much is to be invested in which assets to reach the goal in the given timeframe. These are the questions you must answer before starting investing. Once you have a goal and an asset allocation in place, the difficult part of the job is done. The easier part is to find which products to invest. 2. Failure to create an Emergency Fund We all take it for granted that by the first of every month we will get the salary to splurge on. Before you start investing, the first thing to be done is to create an emergency fund which should be a minimum of 6 months expenses that include the EMIs if you have a loan. If you are in a business where your income is not regular, it is recommended to have an emergency fund of 1 year’s expen