Personal Finance Blogging

Superannuation funds are most commonly known as the pension funds. This is such a retirement account that is tax advantaged which is available for certain companies only. In most of the cases you are not allowed to withdraw from the superannuation account. You can only do that by paying a penalty tax and some other fees. This is because the pension fund of a certain company is subjected to the rules of the particular company.

So in case you want to withdraw the money from your pension account, you need to contact the human resource department to know about the formalities for the early withdrawal of the pension funds. (more…)

Just when your child learns to understand the value of money, teaching them a habit of savings becomes almost essential. Teaching your child the importance of saving money can be a major contribution from your end in building their life. They may not understand it when young, but they will surely credit you for making their life simple in the longer run.

You may be confused regarding the importance that savings hold in your child’s life. Apart from anything else the primary aspect is that savings can help to pay off any debt that your child may incur at any point of time. This can stop creditor harassment issues and your child can stay away from bankruptcy. However the primary step is to open a savings account for your kid and teach them how to grow their money by investing it into a savings account. (more…)

Many people are wondering How to Achieve Financial Freedom? And a key to this is to learn how to set and achieve financial goals. Every January invest time evaluating my finances. Why? Because if plans are not current.
The financial plans have set based on who was and who wanted a year ago, not today’s reality. Many things change in a year, and even more in five years or more, you should not go through life according to old plans.
Ever have stopped one day and realize that the race for which you worked so was not precisely what you wanted or expected, or that you missed on your way to the pinnacle of success? (more…)

Most of the times insurance will eat your money without proper knowledge of investing in the insurance. Insurance is an agreement between Insurance Company you to pay an amount as compensation if any unexpected event occurs in future. The maximum amount you can claim depends on the amount agreed upon as per the insurance policy. But Investment is something that you save money as well as use while you are alive. Insurance is something you save up for your family to use once you are no more.

All our financial goals have two main themes: protection and returns. Term insurance is the only pure protection product while insurance products like endowment, whole life, money back or Ulips are a combination of insurance/ protection and investment/ returns. Essentially, we have to determine whether the convenience of a multi benefit product justifies its additional costs. (more…)