Tag Archives: Power of Compounding

Personal Finance

Fundamentals of Personal Financial Planning

Personal finance covers a wide variety of fundamental topics including budget, expense, debt, saving, retirement and insurance. Awareness towards how each of these topics works together and affect each other is important. It may be the root work for a solid financial foundation for you and your family. Budget At the basic level of personal finance, you deals with a budget; you earns money and then you spend that money. Even if you haven’t created a detailed and written budget you continue to budget on a daily basis.  If you plans Detailed budget every month there will be no issue in the case Continue Reading »

SIP

What is SIP – Systematic Investment Plan and How it Works?

SIP is a smart tool to invest in Mutual Funds like Recurring Deposit. It works on the principle of regular investments. It is like your recurring deposit in which a small amount is deposited every month. It allows you to invest in a Mutual Funds by making smaller regular periodic investments monthly or quarterly in place of a heavy one-time investment. In SIP you can pay 10 periodic investments of Rs 500 in place of a one-time investment of Rs 5,000 in Mutual Fund. Thus, you can invest in Mutual Funds without altering your other financial liabilities. It is important Continue Reading »