Personal Finance

Personal finance is about understanding and managing your money – budgeting, saving, investing, and protecting your assets – to build the life you want and achieve financial independence. In this comprehensive guide, we’ll get into the fundamental concepts and actionable strategies that can help you navigate the complexities of managing your money effectively.

Investing is the key to building wealth and long-term financial stability. Studies show that historically, investing in stocks and other assets outperforms the rate of inflation, helping your money grow over time. As Warren Buffett advises, “If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes.”

1. Investment Basics: Works, Types & Examples
2. 10 Best Investment Options
3. Top 10 Best Personal Finance Apps in India 2023
4. Who is Investor & What an Investor Do?
5. How I invested my 10 lakhs salary to get the maximum return in 2023?

Real Estate

Real estate can be a lucrative investment with the potential for both income generation and long-term appreciation. As Suze Orman: says “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense…it is about the safest investment in the world.”

1. Real Estate Investment: Features, Types, Examples & Careers
2. Real Estate Investment Trust (REIT): Criteria, Working, Types, Advantages and Limitations
3. Real Estate Agent: Meaning, Types & Need

Stock Market

Stock market provides a dynamic platform for individuals and institutions to buy and sell shares in publicly traded companies. For decades, stock market investing has been a crucial component of wealth building. Research by Siegel (2014) demonstrates that over long time horizons, stocks tend to outperform other asset classes.

1. What is Stock Market and How it Works?
2. How to Invest in Share Market or Stock Market?
3. What is Stock Exchange?
4. Indian Stock Market: Meaning, Working, Types and How to Trade
5. National Stock Exchange Fifty (NIFTY): Full Form, Calculation, Advantages and Disadvantages
6. Bombay Stock Exchange (BSE) : Full Form, Features, Functions and Importance
7. Index Funds | Working, Factors and Advantages
8. Difference Between Sensex and Nifty

Stock Market Apps

Stock market apps offer convenient ways to track investments, analyze trends, and make trades directly from your smartphone.

• Zerodha

1. How to Open a Demat Account in Zerodha?
2. How to Change Bank Account in Zerodha?
3. How to Close Zerodha Account?

• Groww

1. How to Open Demat Account in Groww?
2. How to Add or Withdraw Money from Groww?
3. How to Delete Groww Account?

Mutual Funds

Mutual funds offer a diversified approach to investing by pooling money from multiple investors to purchase a basket of securities. Research highlights the potential benefits of mutual funds, especially for novice investors. These funds provide professional management, instant diversification, and reduced risk compared to individual stock picking. As fund manager Peter Lynch, puts it, “Owning stocks is like having children – don’t get involved with more than you can handle.”

1. What are Mutual Funds?
2. How to Invest in Mutual Funds?
3. Systematic Investment Plan (SIP) | Meaning, Benefits and How it works ?
4. Systematic Withdrawal Plan (SWP) | Meaning, Working and Benefits
5. Assets Under Management (AUM) – Meaning, Impacts & How to Calculate
6. Asset Management Company (AMC) – Meaning, Functions, Fees, Examples
7. Expense Ratio | Meaning, Components, Restrictions and Examples

Bonds

A bond is defined as a debt asset that reflects an investor’s loan to a borrower, usually an authority or a firm. When a company issues a bond, it is borrowing money from investors and promising to pay periodic interest payments (coupon payments) and repay the entire principal amount (face value or par value) at the end of the bond’s term. 

1. Bonds : Meaning, Types, Categories & Advantages
2. How to Invest in Bonds : Tips, Benefits & Risks
3. Difference between Stocks and Bonds

ETF

Exchange-traded funds, commonly known as ETFs, are financial instruments that can be easily traded on a stock exchange like any other securities. ETFs are a combination of mutual funds and equities of the listed company. 

1. Exchange Traded Funds (ETF) : Meaning, Types & Benefits
2. Difference between Mutual Funds and ETFs

Taxes | Income Tax

Understanding the complexities of income tax is essential for responsible financial planning and compliance. Learning about applicable deductions, exemptions, and tax-saving strategies can significantly reduce tax liabilities. Financial experts often repeat, “Don’t pay more tax than you legally owe.”

1. Taxes: Meaning, Types, Calculation & How to File
2. What is Income Tax? | Tax Slab | Deductions Allowed
3. How to calculate Income Tax on salary (with example)?
4. Income Tax Exemptions and Deductions for Salaried Individuals
5. What is House Rent Allowance? |How much exemption can be claimed on HRA ?
6. What is Section 80C ? | Deductions under 80C

Financial planning is the process of thoughtfully managing your income, expenses, and investments to achieve your financial goals. Financial planning is the process of thoughtfully managing your income, expenses, and investments to achieve your financial goals.

1. 10 Essential Financial Tips for Young Adults

Retirement planning is the process of strategizing to generate income for when you are no longer working. It involves determining your financial needs, setting goals, and creating an investment plan to build your retirement fund.

1. Atal Pension Yojna (APY): A Complete Guide
2. National Pension Scheme (NPS): A Complete Guide

Budgeting and saving form the cornerstone of sound financial health. Numerous studies link consistent saving habits with improved financial security, reduced stress, and the ability to achieve long-term goals. Dave Ramsey emphasizes the importance of discipline, saying, “You must gain control over your money or the lack of it will forever control you.”

1. Budgeting : Purpose, Importance, Types, Process & Strategy

Banking forms the backbone of a modern economy, facilitating transactions, safeguarding deposits, and providing access to credit. A robust banking sector supports economic growth; a World Bank study found that countries with well-developed banking systems experience faster GDP growth.

1. Top 10 Best Private Banks in the World 2023
2. Bank Identifier Code | Full form of BIC, Need and Benefits
3. Bank Overdraft: Types, Advantages and Disadvantages

Banking is directly or indirectly linked to a country’s trade and each individual’s existence. It is a business that handles credit, currency, and other types of financial transactions. There are 4 types of banks:

1. Types of Cooperative Bank
2. Difference between Commercial and Cooperative Banks
3. Functions of Commercial Bank : Primary and Secondary Functions
4. Difference between Commercial Bank and Central Bank

Banking denotes the network of financial institutions comprising commercial banks, credit unions, savings banks, and other financial services firms. The banking sector is highly regulated to ensure the stability of national currencies and economies. It serves as the backbone for personal and commercial financial activities, fueling spending, investment, business operations, and economic growth. There are 7 types of banking:

Bank Accounts serve as the cornerstone of modern financial systems, offering individuals and businesses a secure and convenient way to manage their money. There are 7 types of bank accounts:

1. 10 Best Savings Bank Accounts in India
2. Difference between Saving Account and Current Account

How to Open a Bank Account?

A debit card is a type of payment card that lets its owner make purchases online by taking money straight from a bank account that is linked to the card.

1. How to Apply for Debit Card?
2. Credit Cards vs. Debit Cards: Pros & Cons

Credit card is a payment card issued to certain individuals based on their income, credit score and existing debts by a financial institute like Banks and NBFCs, it has a pre-set credit limit for doing transactions.

1. 10 Best Credit Cards in India
2. How to Apply for Credit Card

How to Track Credit Card Application Status?

A fixed deposit is a type of term deposit that is made by the investor for a fixed time period at applicable FD interest rates and generates interest income. FD investment scheme is considered to be one of the safest modes of investment for any investor who has a preferred low-risk appetite.

Fixed Deposit Interest Rates 2024

Recurring Deposit Interest Rates 2024

Payments refer to the process of transferring value (typically money) in exchange for goods or services. Modern payment methods offer a wide array of options, including UPI, cash, checks, credit and debit cards, mobile wallets, and online payment systems.

1. Payment Banks in India
2. Bank for International Settlements (BIS): Full Form, Role and Functions
3. Electronic Payment System: Types, Advantages, Disadvantages and Regulatory Bodies
4. Top 10 Best Payment Gateways in India 2023
5. NPA: Full Form, Types, Impact and Examples

UPI

Unified Payments Interface (UPI) is one of the most useful and acceptable banking facility, provided by NPCI to this decade. In our day to day life, we use it daily for many purposes such as Bill Payment, Mobile Recharge and many more services.

Net Banking

Net banking, also called online banking or Internet banking, is a service offered by banks and financial institutions, allowing individuals to perform a wide range of banking transactions and activities through the Internet. 

1. SBI Net Banking: Personal Banking, Registration & Login

RTGS

RTGS is a real-time and secure money transfer system through which we can transfer money 24×7, even on bank and public holidays as well. RTGS or Real Time Gross Settlement is a funds transfer service or a method for instant money transfer launched by RBI in 2004.

NEFT

NEFT, or National Electronic Funds Transfer, is an electronic payment system introduced by the Reserve Bank of India (RBI) in November 2005. It serves as a convenient and secure method for electronically transferring funds between bank accounts across India. 

IMPS

IMPS is a payment service or a method for instant money transfer. It has been developed by the National Payments Corporation of India (NPCI). IMPS is a real-time and secure money transfer system through which we can transfer money 24×7, even on public holidays. 

Cheque

Cheque is a written, dated, and signed document that instructs a bank to pay a specific amount of money to the bearer, or the person named on the cheque. Cheques provide a convenient and relatively secure way to transfer money without the need to carry large sums of cash.

1. Cheque Truncation System (CTS): Full Form, Working, Role and Advantages
2. Types of Crossing of Cheques

Insurance acts as a vital safety net, shielding individuals and businesses from the financial consequences of unexpected events. Insurance industry data reveals a strong link between insurance coverage and financial resilience in the face of disasters. An insurance premium is the price you pay for an insurance policy, essentially the cost of transferring risk to the insurance’s respective company.

Insurance Tax Benefits

Insurance premiums for many types of policies may be tax-deductible. This includes life insurance, certain health insurance plans, and in some cases, even long-term care insurance.

Identity and Address Proof (Voter ID card, Driving licence, Birth certificate, Passport, School leaving certificate, and Ration card)

Pan Card

PAN is a government-issued identity card with a unique 10-digit alphanumeric code that serves many purposes. PAN is the short form of “Permanent Account Number”. The Department of Income Tax issues the Permanent Account Number (PAN) card, which has ten alphabetic and numeric digits.

Aadhaar Card

Aadhaar card is a 12-digit individual identifying number issued under the authority of the Indian Government by the Unique Identifying Authority of India. The number may be used to prove one’s identity and address, wherever in India.

Payment apps, such as Paytm, PhonePe, and Google Pay, have revolutionized how people in India make transactions. They offer a convenient and secure way to pay for everything from groceries to utility bills, all from your smartphone. These apps often include features like money transfers, QR code payments, and even cashback rewards.

Paytm

Paytm is a leading Indian digital payments and financial services company that offers mobile payments, recharges, bill payments, and a wide range of other financial products.

1. How to Activate Paytm Wallet?
2. How to Transfer Money from Paytm Wallet to Bank Account?
3. How to Delete Paytm Bank Account?
4. How to Close Paytm Demat Account?
5. How to Deactivate Paytm Soundbox?

PhonePe

PhonePe is a popular Indian digital payments app that allows users to make seamless transactions. It utilizes the Unified Payments Interface (UPI) for convenient money transfers, bill payments, recharges, and more. PhonePe offers a safe and user-friendly experience for financial transactions.

1. How to do KYC in PhonePe?
2. How to Transfer Money from PhonePe Wallet to Bank Account?
3. How to Delete PhonePe History?
4. How to Delete Messages in PhonePe?

Google Pay

Google Pay is a digital wallet and contactless payment app developed by Google. It lets users make secure and convenient in-app, online, and in-store smartphone payments.

1. How to Find UPI ID in Google Pay?
2. How to Change or Remove Bank Account in Google Pay?
3. How to Delete Transaction History in Google Pay?

Credit is an essential financial instrument that enables economic activity by providing people & businesses with access to money for a wide range of purposes. When you apply for credit you enter into a loan agreement with a lender where you agree to pay back the loan amount plus interest over a certain period. Responsibly managing your credit is important because it impacts your credit score, which lenders use to determine your eligibility for loans and interest rates.

1. Credit : Function, Types, Need, Characteristics, Examples & Advantages
2. Bank Credit: Meaning, Types, Features, Purpose & Advantages
3. Trade Credit : Advantages and Disadvantages
4. CIBIL | Full Form, Importance, Benefits and Factors

A loan represents a financial arrangement wherein one party, commonly a financial institution, government, or corporation, extends funds to another party, typically an individual or entity, under the condition that the borrower commits to repaying the borrowed amount along with interest within a predetermined timeframe.

1. What is Payday Loan and How it Works?
2. Home Equity Loan: Meaning, Works & Requirement
3. Types of Bank Loan

Instant Loan Apps

Schemes can refer to organized plans, often devised for a particular purpose. These plans might be government backed or private programs aimed at social benefit or to help individuals save money, invest for the future, or receive social benefits.

Financial fraud is a broad term for deceptive practices designed to illegally obtain money or assets from an individual or company. It can range from simple identity theft to complex investment scams. Victims of financial fraud can suffer serious consequences including loss of savings, damaged credit scores, and emotional distress.

1. What is Money Laundering and How it is Done?
2. What is Ponzi Scheme and How it Functions?
3. Tax Evasion : Meaning, Impact, Occurance, Methods & Penalties
4. Corporate Fraud : Meaning, Cases, Reasons and Types
5. 5 High-Profile Money Laundering Cases that Shocked the World
6. Pyramid Scheme : Meaning, Working, Types and Examples