Want to apply for add-on cards? Here are the pros and cons

Add-on or supplementary credit cards are additional cards issued against primary credit cards for your parents, spouse, children (above 18 years) and siblings. Its features and benefits are similar to those of primary credit card. However, like most financial instruments, add-on credit cards comes with its share of pros and cons.

Let’s first look at some of the benefits associated with availing add-on credit cards:  Continue reading

Step-By-Step approach to declutter your cluttered MF portfolio

Over the past few years, rising investor awareness has led to a significant increase in retail investor participation in the MF industry. However, lack of experience and misleading financial advice lead investors to end up with a cluttered portfolio that usually consists of duplicate investments, underperforming funds and/or sub-optimal asset mix. Here is a step by step approach to clean up your cluttered portfolio:

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Five signs that you are using credit cards the wrong way

The role credit cards play in your life depends entirely on how you use them. If used smartly in a disciplined manner, they can provide a wide range of benefits and even bail you out of financial exigency. On the other hand, sloppy usage can at worse land you into a debt trap along with hefty charges and penalties.

Explained below are some crucial signs that you are using credit cards the wrong way:
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Are you a risk averse investor? Here are 5 investment options for you

Risk-averse investors are more likely to choose stable returns over volatility. For them, capital preservation is the prime objective, which leaves risk-prone investments out of the picture. Here is a look into the top 5 investment options for risk-averse investors.
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When to redeem your mutual fund investment? Take note of these five trigger points

We practise due diligence while investing in mutual funds but seldom do we pay attention to factors that warrant redemption of mutual fund investment. Although it’s true that timely and disciplined investments in mutual funds can help achieve financial goals, taking a call on whether or not to sell investment can be challenging for most of the investors.

Let’s look at some of the scenarios wherein you may choose to exit your mutual fund investments: Continue reading

Looking to start a business? Money tips to consider before quitting your job

Today, India is one of the world’s biggest startup hubs, with an increasing number of professionals biting the bullet and beginning their entrepreneurial journey. Quitting a stable job for your own venture has big financial repercussions, especially in the initial phase, and hence, it should be done with careful planning.

Here are a few areas you should have covered before you take the leap of faith and bid goodbye to your job: Continue reading

Five small tweaks for a strong financial future

Unlike popular belief, financial planning need not necessarily involve making heavy-duty expenses or investments. Financial planning is crucial for building a strong financial future. Whether you want to invest in the future or avail loans to fulfill various financial needs, making well-calculated financial moves can help you breeze through different aspects of financial life. Unlike popular belief, financial planning need not necessarily involve making heavy-duty expenses or investments.

Here are five financial tweaks that can go a long way towards building a strong financial future: Continue reading

5 credit card tips to increase your credit score

We often tend to blame credit cards for poor credit scores and falling into a debt trap. However, this is far from reality given that low credit scores and debt cycles are the results of a lack of financial discipline and self-control. A well-chosen credit card is, in fact, an effective tool to increase your credit score.

Here’s how you can build your credit score. Continue reading