Due to the declaration of the lockdown and suspension of international flights owing to the outbreak of COVID-19, many NRIs had to prolong their stay in India.
Several banks offer women savings accounts and credit cards tailored to their needs besides better terms on loans
Revisit your financial plan at intervals and make necessary adjustments. This will ensure you are not financially stressed but at the same time able to achieve your life goal
One should always be a pro in managing finances by making a note of the assets and liabilities and defining personal goals. it is important to prepare a budget for the coming year to be in a better position to understand where the money is being spent and where one will undertake savings.
It is important to choose one’s health cover wisely, else it can drain one's money without providing any adequate protection.
Financial year and tax planning Income tax is calculated on the income you earned during a financial year. As the financial year 2020-21 approaches, this could be the right time for you to plan and find out how much tax you can save. Starting this year, you can opt for the old tax regime and avail tax benefits, or opt for the new regime to forgo tax benefits but enjoy lower tax rates.
With India’s average age of less than 25 years, retirement might seem far away. However, with a rise in average standard and cost of living, medical inflation, etc. retirement is a phase that needs careful planning and precision so as to ensure that there is no compromise on the overall post-retirement lifestyle and expenses.
The need to buy health insurance coverage for self and family is to avoid dipping into one's savings to meet the cost of hospitalization.