What is an emergency fund and why do I need one?

An emergency fund is simply a pot of money that you keep specifically for emergencies. It’s not nice to think about the chances of you falling ill, having an accident, or being unemployed, but unfortunately, it’s necessary to think about it if you’ll need to pay any bills or have anyone who relies on your income. Peace of mind and reduced stress The stress we tend to feel when we lose our jobs or fall…

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Digital Banks – The Future of Banking?

We’ve all heard of them, seen their florescent cards, admired their ads on the tube: App-Based Banks. They don’t have branches, if you need to speak to customer services, just open a chat on the app. These banks can be fantastic. They give you live spending notifications, round up your purchases to save up, and help you create a budget. Live Notifications One of my biggest issues with banking, while I was at University, was…

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Know your credit card better

Generally speaking, a credit card is used to make purchases with money you don’t actually have. This isn’t necessarily a bad thing – you may be using it as a loan to bridge you to payday, or to spread the cost of something expensive. What is the APR? All credit cards will have an APR – Annual Percentage Rate. This is the rate at which you will accrue interest on the card. The lower the…

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For the love of gold!

In the month of August, gold breached the $1500 per ounce ceiling in the first time in over six years.  With the breach of this critical psychological barrier, the sky seems to be the limit for the precious metal. Amid the rising clamour of an economic slowdown and fear of global recession, the yellow metal is trending once again as a safe haven for investors. With political and economic instability in developed countries and higher…

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All the India tax filing information an NRI needs

Just like an Indian citizen, NRIs with taxable income that exceeds the threshold of Rs 2,50,000 have an obligation to file income tax returns. However, the rules and guidelines for NRI taxation differ widely from that of an Indian citizen, and thus the income tax returns guidelines differ too. For instance, unlike Indian citizens, NRIs do not have the obligation of filing tax returns that arise only from “investment income” or long term capital gains…

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Why investment in India makes sense now

Every year, thousands of Indians migrate to foreign countries to explore better career opportunities. Over time, they settle abroad and attain the status of a non-resident Indian or NRI.  However, the urge to invest in one’s homeland has been a perpetual quest for NRIs, and with good reason.  Let’s consider some numbers to see why. What makes India an attractive destination Currently, India is the fifth largest economy at $2.7 trillion GDP. It is likely…

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Slew of budget benefits to woo NRI investments in India

  In the presentation of the Union Budget for the year 2019, Union Minister of Finance, Nirmala Sitharaman put forth the ambitious plan of taking India from the current $2.8 trillion economy to reach the $ 5 trillion mark by the year 2024. The Finance Minister acknowledged the role of  non-resident Indians in uplifting the Indian economy. To woo further NRI investments, she announced a slew of benefits to woo NRI investors to enhance investments…

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India Union Budget 2019 – Simplified

  Here’s a simplified summary of the Union Budget 2019 for India (including the proposals from the Interim budget presented in February 2019) If you are a … Salaried Individual / Pensioner   (no change since interim budget) Net taxable Income : upto 5 Lakhs – Tax liability zero above 5 lakhs – No change to previous tax liability calculations Standard Deduction increased by 10,000 Interest income on bank/post office deposits up to ­ 40,000 will…

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