Certain facts on CIBIL you might not have known
Sunil Sharma (name changed) working in a bank as a senior manager applied for a personal loan of Rs 5,00,000 from the loan department of the same bank. He got a letter from the bank after a few days that the loan application was rejected. He inquired further and found something very surprising. He has housing loan from another bank and it was informed to him that for two consecutive months...
Read MoreKnow Your Credit Card
Credit card which is often called as plastic money has nowadays almost become a necessity for some. It is easy to carry and transact. At the same time if it is not managed properly it can become a liability. Many people are not aware of the consequences of mismanagement of credit card purchases. As it is easy to operate and there is no immediate empting of your pocket it sometime leads to impulse...
Read MoreISO 9000 And Financial Planning
ISO 9000 is a family of standards, related to quality management systems and outlines the requirements needed to ensure organizations meet the needs of its customers while striving to meet their expectations. There are many organizations taking advantage of these Quality Management Systems and ensure that they are always profitable and growing in the right directions benefitting their employees...
Read MorePersonal Finance Myths
There are many myths about personal finance. The reason I say they are myths is because it’s always not true what we think it is. It’s perceived to be true. ‘Mutual Fund investments are risky.’ ‘FD is a safe investment’. ‘Gold is a safe investment’. ‘Never ever invest in stocks.’ ‘Real Estate is The Best investment.’ ‘Own house is an asset.’ ‘Term Insurance is a...
Read MoreFinancial Housekeeping
Many times when we sit with clients for financial planning, we observe that their documentation is in a mess. Most of them don’t have written expenditure statements like monthly household expenses including groceries, fruits, vegetables, milk and other purchases. There are many cash outgos for AMCs for various consumer durables, pest control, school fees etc etc. Normally the data given are...
Read MoreWhy you need a Financial Planner…
Before I answer the above question let me take you to a situation in life. When you have a stomach ache you go to the chemist (don’t have time to go to the Doctor…) and ask for medicine. He will give you Combiflam etc., or may be some other pain killer. That may or may not stop your pain. But if you have it again after sometime you will again take the medicine (?) sold to you by the...
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