Habits define the way we live our lives. We all tend of have good habits as well as bad habits however, as humans we tend to succumb more towards the bad habits no matter the consequences. But when it comes to finance some bad habits may reflect badly on your income. Wealth cannot be grown or sustained by increasing the amount of money you earn but by the way you manage that money.
Everyone dreams to have their own home. We look for a sanctuary where they can live and call ours. However, something called economy and personal income can ruin that dreams for many. So they decide to opt for another option called renting to fulfil that dream. Whether one should buy a house or rent it will be a never ending debate. So here’s an article to help you make that decision.
A wedding is one of the most important and memorable day in anyone’s life, A celebration of love and togetherness which happens on a grand scale in India. It’s not just ‘the big fat wedding’ here, it’s ‘THE BIG FAT WEDDING’ with friends, family and relatives of relatives attend, therefore, a big wedding needs big planning. To help you with that we have created the Ultimate Checklist for planning a wedding. Let’s go through some important things:
TVM (Time Value of Money) is a basic principle in financial studies. It states that the money earned today, or in the present has more value than the money earned in the future. This is mainly because of the earning potential of the money you have today is higher than it will be for the money you earn tomorrow.
India’s population has never been in the receiving end when it comes to financing. Banks and other financial organisations Initially, banks and many other organizations were able to create services for the general population. However, with illiteracy being a major hindrance in the growth of the country, many people refrained from accessing banking services with the fear of losing their money.
Saving money can be an excruciating task; after all you give up a chunk of your income every month to contribute to your savings account. While only saving money may not make you wealthy immediately, it still is a practice which will pave your way to wealth. You need more than perseverance and dedication to save money, like saving smartly rather than the old methods.
Owning and managing a new business may be hectic task on its own, after all you have to manage your funds, profit and losses and at the same time invest in various avenues that will bring you good returns. But amidst all this, small business owners don’t realize the importance of managing personal finance.
Choosing a freelancing career is both a brave and satisfactory choice, after all you are giving up a stable income to pursue your passion. This decision can either be very beneficial to you or cause a havoc on your life as freelancing business may not often bring you work. There are some days when you would be loaded with work and then somewhere you may just consider quitting due to lack of work.
The rule of 72 is a formula used a lot to estimate the number of years required to double the invested money at a given annual rate of return. It’s a formula that you can use to calculate these important details when you don’t have access to a calculator.
Though it’s easy to say ‘I want to make a monthly budget’ but it is often not as easy as it sounds. It requires a good understanding of basic financial concepts and planning for strategic allocation of your monthly income to make a good budget. However, the simplest way to budget your monthly expenses and income would be to follow…
FIRE stands for ‘Financial Independence/Retire Early’. Started in the early 2000s, it is a movement which encourages people to retire early to live more fulfilling lives.
It is easy to fall prey to lies and misconceptions, especially when they are parroted around by everyone with the confidence of a raging bull. To help you stay safe and make better financial decisions, we at Team KyePot are busting some myths and financial lies you shouldn’t believe in.
It’s a concept that we often hear about when we read about a celebrity’s net worth. But you don’t need to be rich to have a net worth. Every individual has a net worth and you can calculate yours too
Being minimalistic can be considered the antithesis of being materialistic. You only buy or do things that you need and eliminate the things that you don’t need. Minimalism isn’t about being stingy about money, but more about being selective about your preferences.
Though even the safest investments carry a certain amount of risk, there are a some investment options that follow the ‘high risk, high reward’ mantra. If you have a low risk appetite you should stay away from the following 4 investment options.
Are credit cards angels from above or devils in disguise? The truth lies somewhere in between. Just as with any other tool, credit cards by themselves are neither good nor bad. How you use them is what matters. So let’s look at both sides of the story.
Indian Govt plans on banning all illegal & unregulated chits, clubs, committees, and other forms of unregulated social money saving schemes. Be safe and say NO to illegal & unregulated chits, clubs, committees, and other forms of unregulated social money saving schemes. The main impact to end customers are;No safety & guarantees for customers and customers risk losing money. No guarantee to any recourse from Regulators and Govt. Supporters & propagators face fines of Rs.50 Crs and Jail terms of 10+ Yrs.
KyePot is India’s only digital chit fund platform that has made participating in chits possible through our mobile app. KyePot partners with legal and compliant chit fund companies. KyePot actively validates the entire regulatory process and approvals for both the chit companies and also the regular execution of chits. To ensure the safety of the investors’ money, KyePot has taken a bold, innovative step in the industry and created secured bank accounts as escrows for safeguarding all investments.
TDS is nothing but Tax Deducted at Source. It is a way of collecting indirect tax by the government under the Income Tax Act, 1961. It means that a certain amount of tax (usually around 10-12%) is levied on certain payments, salaries, payments to freelancers and contract workers, and certain categories of vendors.
Living in a middle class family isn’t easy. Only a person living in one can understand the amount of sacrifices one has to make to get by in life. As someone who grew up in a middle class family, I understand that fact better than anyone.
All of us are chasing the same thing – financial stability. People spend years to become financially stable by working hard and spending their money wisely. However, just because you make a lot of money does not mean you are in a good place.
A good credit score can give you lower interest rates on borrowing, eligibility for loans, credit card approvals, and other benefits. Getting a credit report is easy and you should ideally use it as tracking mechanism to improve your personal finance habits.
Regardless of how you end up with a loan, being in debt is a vicious cycle that effectively creates a glass wall between you and happiness.
The benefits of being debt-free clearly extend beyond the financial scope. Let us shed some light on the advantages of being debt free.
It’s easy to get into debt but very difficult to get out of it. Hence, diligence and perseverance are important traits that you need to stay on track to get out of debt.
One needs to be careful with personal finance and do everything in their power to be financially stable and healthy.