To understand the important factors related to personal finance Key Learning. Generally, a person starts earning in the age of 22-25 years and continuously works till the age of 60 years. It means a person spends about 35 years in earning. Your financial decisions and plan during these 35 years will decide how you spend […]
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To learn the importance and types of insurance What is Insurance? Insurance is a contract between two parties – insured and insurer. An individual or a company that gets insurance is called insured and the individual or company that provides insurance cover is called an insurer. Insurance provides financial coverage in the case of any
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To learn about the taxes imposed on an individual in India 1. Types of Taxes In India, tax is charged in the following two ways: Direct tax: This tax is charged directly on a person’s income such as income tax. Indirect tax: This tax is charged on goods and services that a person buys from
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To learn how to avoid debt trap 1. What is a Debt trap? When an individual/company takes one debt to repay another debt, it is known as “Debt trap.” It creates a cycle wherein the second debt becomes expensive and there will be no scope to get access to any future debt. So, the person
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Objective To learn how to plan higher education for your children? 1. Higher Education Planning – Factors As a parent, you should take care of the following points while planning higher education for your children: i. Don’t Ruin All Your Life Savings You should not spend your entire savings on a child’s education. You should
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To understand whether you should buy a car or take it on rent Let us discuss about how to take decision regarding buying a car with the help of above example: For example: Cost per km of self-drive car You are planning to buy a Honda City worth Rs. 12 lakh. You have to pay
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Housing Vs. Renting To learn how to decide whether to buy or rent a house 1. Buying Vs. Renting a House? For example: i. Buying a House If you want to buy a 2-3 bedroom house in any metro city like Delhi or Bangalore, the cost involved will be: Basic cost (of the house) –
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How to manage your Expenses? To learn how to manage household expenses? Like the government has to prepare a budget to run a country, similarly, a common man should also make a budget to manage his life. Every salaried person faces difficulty in managing expenses and the reason cited for this is the insufficient income.
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To learn how to manage personal finance . 1. Personal Finance In simple words, personal finance is “accounting of your money” which includes: What are your expenses? What are the needless expenditures? How much are your savings? What are your future goals? Where are you investing? To understand personal finance, you must know about assets,
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Introduction Golden Statement “Beware of little expenses because a small leak will sink a great ship.” If you spend money carelessly, it can ruin your budget. 1. What is Personal Finance? Personal finance means “personal money management” i.e. how to spend and save your money. In personal finance, you consider all the possible financial aspects
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