Category: Finance

The way people apply for a loan today reflects their digital lifestyle. Technology has an enormous impact on our life that we carry out most financial transactions fully or partially online. This is owing to increase in the use of mobile phones. Banks meet their customers’ changing borrowing preferences by providing integrated digital lending capabilities through a loans app, which offer easy mobile experiences. Through this app, you can apply for a home loan easily from anywhere.

The IDFC FIRST Bank’s Loans App offers a differentiated experience of completing a home loan application on your mobile phone instantly. You can access and read the loan documents and upload the completed ones on your smartphone. Moreover, you also get to know your home loan eligibility and the loan application decision on your smartphone. You can apply for a home loan on the IDFC FIRST Bank’s Loans App on easy terms and get it approved within a day.

How to use the IDFC FIRST Bank Loan App to obtain a home loan?

Digitalization has gone far enough for you to skip a visit to the bank to know the eligibility for a home loan and other requirements. Using the IDFC FIRST Bank’s Instant Loans App, you can find your eligibility and approved loan amount by providing some basic details such as your mobile number, name, location and email address. Apart from this, the loan app helps you with:

Easy and hassle-free application process

Once you have the digital approval of your home loan, you can proceed further by applying for it online. For new customers, they should download the IDFC FIRST Bank’s loan app from the Play Store or App Store and log in using their User ID and Password. Once you have registered with the app of one of the best banks for home loans, you can know your eligibility and receive a provisional approval.   

Next, you can apply for a housing loan by providing your personal details such as the name, address, date of birth, email address, registered mobile number, employment status and PAN Card and Aadhaar Card details.  Along with the completed application, you need to submit the supporting documents to receive a home loan sanction letter.

Choose a flexible loan amount and tenure

Whether you are salaried or self-employed, you can apply for a home loan up to Rs. 5 crores based on your eligibility. The IDFC FIRST Bank Loan app also helps you choose a suitable tenure between 12 months and 360 months depending on your ability to repay the EMI amount.

Competitive interest rate

IDFC FIRST Bank is one of the few prominent banks that offer home loans at an attractive home loan interest rate. It also offers FastTrack balance transfer facility, as well as top-up or additional top-up loans at competitive interest rates.

Access the app anytime

The loan app allows you to access it anytime to find any details about your home loan. You can check the eligible amount, down payment, processing charges, home loan interest rates, and so on anytime. Other than these, you can also track your home loan application status.

Quick processing

With the IDFC FIRST Bank Loan App, you can have a quick processing of your loan application. The online process helps you to check the loan eligibility, use the home loan EMI calculator to calculate your affordable EMI, learn the terms and conditions, upload the duly filled-in application with supporting documents and receive the loan approval within a few hours or days.

IDFC FIRST Bank through its instant loans app deliver quick financial solutions that help meet the modern lifestyles of people in every way possible.  

If you own an active credit card, you are most likely to be placed comfortably in case a basic financial emergency shows up. While credit cards aren’t always loaded with money, they do offer peace of mind to the users by letting them defer expenses and even get a 45-day repayment time frame for the same.

However, getting a credit card is often trickier as approvals depend on a lot of factors, including the existing cash reserves, credit score, credit profile, and even the repayment history. Also, certain lenders are more accommodative than others when it comes to approving credit cards, which is yet another factor that you need to be mindful of.

Credit Card Benefits

Credit cards are extremely resourceful financial instruments. While most of them offer no-interest credit facilities to clients for a short tenure, the existing benefits of credit card entail a lot more than what meets the eye.

Once you have a credit card, you can readily access an entire world of cashback, rewards, and more, depending on the onboard offers. Plus, a credit card allows you to purchase premium products on EMIs, with some banks even offering low-cost and zero-interest monthly installments. Plus, you can even use a credit card to withdraw cash, in case of an emergency.

How to Check Credit Card Application Status?

Different financial institutions offer disparate strategies to check credit card status. However, regardless of the bank issuing the same, you can always head over to the official website, feed in the credentials and the application number, and eventually know the status of the same.

Every credit card application comes with an ID, which needs to be used for refereeing the application status. Also, certain banks might ask for additional credentials like DOB, PAN details, and even OTP sent to the registered number before revealing the status.

Based on the discretion of the bank, you might see the credit card status as approved, on-hold, dispatched or even rejected.

Can you connect with Credit Card Customer Care for Verifying the Application Status?

Yes, the credit card customer care service pertaining to almost any bank is prompt enough to cater to your offline requests with immediate effect. However, you must connect with the concerned bank using their toll-free number and eventually follow the instructions to the letter. The application ID needs to be kept handy as the customer care executive will then ask for the same upon querying.

Final Words

In 2021, verifying your credit card application status cannot get any easier. However, you must still cross-reference the exact steps, depending on the bank you plan on connecting with in the first place. But then, if you are still confused about which credit card is best suited to your requirements, connect with Finserv MARKETS to make informed decisions by comparing selections.

Source: https://www.wishfin.com/credit-card-customer-care/all-banks-credit-card-customer-care-numbers/

https://www.bankbazaar.com/credit-card/how-to-check-credit-card-application-status.html

After the introduction and implication of UPI (United Payment Interface) in India, the entire payment and transaction method has gone through a drastic change. The major step taken to achieve a cashless economy is no less than a revolution. This new payment method allows users to pay using their smartphones and even virtual debit cards from anywhere, anytime. Through the UPI payment gateway, the instant sending and receiving of money is no longer a dream. Also, the concept of using QR codes has amplified the usage of the UPI payment gateway. Additionally, because of UPI, the usage of digital wallets have significantly reduced.

What is UPI?

Before discussing the features of Unified Payment Interface, we should at least know what UPI is. As the name suggests, Unified Payment Interface is a platform that amalgamates all the existing banking features and services under a single roof. When you go into a bank, you have to use cheques, and withdrawal slips to withdraw money from the bank. Even in online banking, you have to log into your account and request for NEFT, RTGS and IMPS according to your need and that too within a stipulated time frame. But when it comes to UPI, all it requires is a UPI ID and a PIN. Only by using the UPI ID and PIN can you easily send and receive money instantly. And that is not all, users can also make real-time bank to bank payments using a virtual payment address or mobile number through the UPI payment gateway.

UPI ID and PIN

A UPI ID is a unique identification number that is linked with a bank account and can be used to send and receive money. And PIN is a combination of unique numbers that authorizes the payment via the UPI payment gateway. The user can freely choose the PIN number on their own.

Features of UPI payment gateway

No minimum transaction limit

A significant feature of UPI is it does not have any minimum transaction limit. You can pay as low as 1 rupee using the payment method.

Reliability

Reliability is one of the major features of UPI. Customers have total control over their payments and transactions. They do not have to be concerned about their money getting lost along the way.

Real-time transfers

Banks offer services such as NEFT and RTGS, but even they are not real-time transfers. In the case of UPI, all the transactions that are made using this particular payment method are done in real-time. When the sender initiates a payment after clicking the send button, the receiver receives the payment in just a matter of seconds. With this, the daily life activities of people became much easier because paying grocery shops, auto, and returning money to friends after borrowing from them became convenient and straightforward.

Inclusivity

In some cases, UPI does not require the internet to make payments. Without using a proper internet or smartphone, payments can be conducted using UPI.

Payment through QR Codes

Using the UPI payment gateway, users can send money just by scanning QR codes. After scanning the QR code, all the information related to the individual or the merchant will be shown to the user so that they can verify before sending the money. Now grocery shops, auto, cabs and even markets have QR codes attached with them.

Open to all kinds users

Anyone can use UPI for making payments. From an average individual to different businesses and companies can initiate their own UPI ID and PIN after their registration. With this making, transactions have also become easier for private organizations and companies. To know more about UPI payment gateway, its individual and corporate usage, you can visit https://www.cashfree.com/upi-payments-stack .

The overall significance of UPI and its impact on the payment system as a whole is not limited.

A credit card comes in handy for various transactions anytime and anywhere, whether you’re shopping online or visiting a mall. If you need cash, you can use the card to withdraw from your closest ATM. If you need to make an urgent payment, like for a medical emergency, the card is very useful there too. It is also convenient to carry. Additionally, if you pay off your dues on time, you can enjoy all the benefits without paying any interest fees.

So, here are 5 important features that a good credit card has.

#1 – Lowest Interest Rate

Interest charges are levied by the issuer if you are unable to pay the dues by the due date. It is good to be aware of this date and plan your financials such that you have the money when the payment becomes due. However, there may be times when this is not possible. In such circumstances, it helps to have a card with the lowest interest rate.

A credit card with the lowest interest rate ensures that:

• The charges are much less when you are unable to repay the outstanding amount.
• You can make the complete payment more easily.
• You can clear your dues faster and maintain a good credit score.

There are some things you can do to lower the charges:

• Try to keep your credit card spending within your budget.
• Pay as and when you have money, instead of waiting for a day on which you have the complete outstanding money ready with you.

#2 – No Annual Maintenance Fees

Some issuers charge an annual maintenance fee to keep your credit card account open and continue using the benefits. A good credit card comes with zero annual fees. Even better, a lifetime free credit card never charges annual fees for your life!

#3 – Zero Over-the-Limit Fees

When you use your credit card for transactions exceeding the assigned credit limit, an over-the-limit fee is charged. Luckily, some credit cards don’t charge this fee at all. This can help when you need to buy certain things, like furniture for the house or some home appliance or pay for some repairs before selling a home.

#4 – Reward Points

Always check the reward points offered when comparing credit cards. This means, every time you spend money, you earn some points. You can redeem these when you need to buy something.

The best credit card boosts your experience of earning rewards with the following offers:

• Up to 10X reward points or credit points.
• Credit points aren’t capped. So, they’re limitless!
• No redemption fees on using rewards.
• Credit points don’t expire. So, you won’t lose them!
• More reward points on online credit card transactions than offline.

#5 – Offers at Multiple Partner Merchants

Some credit cards have tie-ups with many leading merchants and popular brands. These cards offer time-to-time discounts on:

• Health and wellness services
• Travel
• Shopping
• Education and upskilling
• Dining
• Other services

Regularly check the site issuer’s site to know which deals and discounts are currently being offered.

Pick a credit card with useful features and various benefits. Being aware of the facilities allows you to use them smartly.

In today’s digital world, you want anything and everything completed as quickly as possible, and cards provide the option for payments. One of the biggest pros of a credit card is the EMI feature, which makes big purchases easy. But credit cards come with their fair share of downsides, which makes one curious to all and any better opinions available, especially whether you can avail the benefit of emi without a credit card. Here’s a little list of alternatives for credit cards.

1. UPI

• The Unified Payment Interface (UPI) lets you use  your mobile as a virtual debit card thanks to a new payment model. It has also made instant money sending and receiving possible.
• What is UPI
  UPI is a  platform that brings together a variety of banking services and features into one place. To send and receive money, all you need is a UPI ID and PIN. A mobile number or a virtual payment address may be used to make real-time bank-to-bank payments (UPI ID).
• Benefits

UPI payment is easy, fast, and secure. For transactions, there is no need to add a beneficiary. There are no processing fees on UPI purchases, unlike with a credit card.

2. Debit Card

Credit cards and debit cards look nearly alike and can also make it simple and convenient to make transactions in stores or online, but they have a fundamental difference.

• Debit cards allow you to spend money by withdrawing funds from your bank account.
• Credit cards allow you to borrow money from the card issuer for purchases or cash withdrawals up to a certain amount.

When you use your credit card to make a purchase, the bank is legally paying for it, and you are obligated to pay the bank that amount once the bill is generated.

A debit card is more convenient and less stressful  because it allows you to spend within your financial means without accruing debt or incurring potential interest. Using a credit card is appealing because you can spend much more than you have available cash, but the downside is that you will ultimately be responsible for repaying the debt or loan.

3. EMI cards

Nowadays, EMI cards are becoming a more common way to make transactions. EMI cards use the Equated Monthly Instalments concept to make the process of borrowing to finance a purchase easier and more seamless.

The Bajaj Finserv EMI Network Card is one of the most hassle-free and convenient EMI cards.

• What is the bajaj finance card

The Bajaj Finserv EMI Network Card makes transactions simple by using No Cost EMIs. It includes a pre-approved loan that can be used to make purchases. You can then turn these costs into easy equated monthly instalments (EMIs) that you can pay back with great convenience. With the bajaj finance card, you can take advantage of a variety of exciting deals and discounts.

• Why you should get the bajaj finance card

1. Pre approved loan

   The Bajaj EMI card comes with a pre-approved loan. The exact amount is determined when you apply for an EMI card. Bajaj Finserv does not require any additional approval or authentication at the time of purchase. The card is used like a regular debit or credit card

2. Big purchases

The EMI Card allows you to shop for almost everything, including lifestyle items, electronics, home, kitchen, and furniture products, fitness, travel, and fashion. These items are available for purchase on the Bajaj Finserv EMI Store or any of the online partner stores in India, which number over 84,200.

3. Easy Repayment

   Repayment is simple and there is no down payment needed. It is a no cost emi option

Conclusion

It’s obvious that EMIs are a boon to millennials, so it’s only natural that financial payment instruments have created a way to borrow without delay when making those purchases. The Bajaj Finserv EMI Network card was well-received.

They function similarly to a credit card in that you must swipe them to complete the transaction. They do, however, cater to individual transactions, making them more tailored to the needs of any prospective customer.

Source:

https://www.bajajfinservmarkets.in/emi-card/articles/shop-on-emi-without-having-a-credit-card.html

https://www.bajajfinservmarkets.in/emi-card/bajaj-finserv-emi-network-card.html

https://www.bajajfinservmarkets.in/emi-card/bajaj-finserv-emi-network-card-benefits-and-features.html

 

A billion-dollar industry has grown up over the past decade around sharing resources such as temporary jobs, transportation, and housing. Along with this explosive growth has raised questions about safety and background checks. These screenings fall outside the standard protocols but are nevertheless critical to ensuring all parties’ integrity. At the moment, there is no standard across the industry for background checks, leaving questions such as the following unanswered:

What constitutes a background check?

The phrase “background check” means vastly different things to different people. Is it an online search of social media and public records, a deep dive into an individual’s history, or something in between? Claiming your organization does background checks gives very little information about the credibility of the results. 

Again, what does a background check mean?

Even if a sharing economy background check standard is established, the devil will be in the details. Not every background check is created equal. Consider the following nuances in the process:

• Did the background screener search counties adjoin those where the individual lived for criminal records?
• Were international records checked?
• Did the background check look into gaps in employment history?

These are just a few of the numerous details that need to be considered when defining and standardizing peer-to-peer background checks.

How are identities checked?

A critical component of a background check is identity verification. In a traditional employment situation, the candidate undergoes a personal interview during the application process. The employer can visually compare the person with their identification. However, in the sharing economy, it’s not unusual for transactions to take place 100% online; the parties never meet face to face. Without a personal meeting, it’s impossible to know whether the background being checked belongs to the individual in question or someone else entirely. Said another way, people concerned about their ability to pass a background check can circumvent the process by submitting another person’s details. 

The Future

As the sharing economy continues to grow and expand, so will the risk of consumers being hurt by criminal providers. Developing a standard for background checks will benefit consumers and providers. Such an approach will allow providers to demonstrate a commitment to safety and distinguish themselves from their competitors. This can only be accomplished when all the relevant stakeholders – consumers, service providers, legislators, and screening professionals—come together. With the right due diligence and the help of advanced technology and background check experts, a clear protocol can be defined that helps all parties involved. 

Being an investor means monitoring the trading market several times a day. Stock analysis is an important task for investors to find potentially profitable stocks. Do you know what do investors require for stock analysis? It is technical and fundamental analysis. Many of you are already aware of what technical and fundamental analysis is. But for the sake of the beginners who have just begun in this platform, we will give you a brief overview. 

Technical analysis 

Technical analysis is the study of the market theoretically. It means to study all the theories and technical sectors of the market. If you are a medical student then you will have to study some terms and acquire some knowledge that the civilians don’t need to learn. Without this knowledge, you might not be able to pursue a career in the medical sector. 

Similarly, for investors, technical analysis is a matter that helps them to pursue a career in the trading market. There are several technical tools and terms that the investors need to know about to accommodate in this market easily. A medical student requires to know how a stethoscope pr a scalpel works. In that manner, one needs to know how a chart or a trend line works in the trading platform. 

If you are unable to identify a trend in the market then you will not be able to know the perfect timings to enter a trade. That is why every investor needs to have a thorough technical study of the market. They must get familiar with the market as it helps a lot with the trading sentiments of the investors. 

Fundamental analysis 

Similar to technical analysis, the fundamental analysis consists of a major portion of importance in the career of a trader. Now, even though you will need technical analysis to read the market, the market always doesn’t follow the numbers. Even though your speculation indicates a rise in trend, the market may fall overnight and start moving in the complete opposite direction. So, if you dig deep inside the market, you will see that some factors worked behind changing this market in the reverse direction. 

News events usually take place at a specific time and so maintaining an economic calendar is very helpful when you are trying to avoid intense volatility. You will never regret looking at these events as they can help you speculate the market better. Take a look at the top Singaporean traders’ post. Visit company website of Saxo and learn about the impact of fundamental factors. Once you develop the skills to analyze the news event, you will never trade major stock without evaluating the news.

Price to earnings ratio

Price to earnings ratio is one of the most common ways to evaluate the stock market. Its calculation is done by dividing the per-share value by earning per share in the stock market. Comparison between the ratios in the market helps the investors to understand a better trading opportunity. A low ratio is considered a favorable condition for the investor to invest in some share.

Earnings per share

This is another indicator to analyze the stocks in the market. This is a great way to see how effectively the revenue of the company is flowing towards the investors. The higher the earning per share ratio, the better for the investors in their trade when this ratio is higher, it means, it is worth investing in the trades of that company. 

Book value

Book value is a great way to determine the undervalued but high-growth companies that have a higher chance of earning per share. This way is helpful for the investors as they look for low competition with a high-profit value.

These indicators are frequently used by many stock market participants to have better speculation of the stock market and this has given them a better outlook in the trading market than ever.

Is dollar cost averaging really all it’s cracked up to be?

If you have been looking to make an investment, you may have come across the idea of dollar cost averaging. But it’s hard to know if this is a good idea unless you really understand the concept.

In this article, we will take you through the idea behind dollar cost averaging and point out the main benefits and uses of this investment technique. So, let’s jump straight in and prepare ourselves to invest!

What Is Dollar Cost Averaging?

Dollar cost averaging is a basic investment technique in which you invest an even amount of money in an asset over time, without worrying about its market price.

For example, you might decide to invest in a commodity over the course of a year. What you would do is decide your total investment amount and then divide it evenly across different intervals.

To make things simple, we will say that the total investment amount is $12,000 over the course of a year. To use the method, you would invest $1,000 each month for one year to make your total investment.

The main idea behind this investment is to not be affected by changes in the value of the dollar over time. Effectively, you are averaging the dollar price over a given period.

The reason you want to do this is that the dollar cost can be quite volatile because of various changes to the overall market.

Is It a Good Idea?

Dollar cost average has been favored by many investors who see it as a conservative way of benefitting from overall market growth, without trying to make complex predictions of peaks and troughs in market value.

For this reason, you are unlikely to make any massive windfall from your investment. It is not the same, for example, as the idea of day trading. This method seeks to make short-term gains on the volatility of the market during very short periods of time.

Using the dollar cost average method has a much longer-term outlook.

This means it is a very valuable investment technique if you are not prepared to risk your savings being quickly depleted.

This is why it is used in many 401(k) plans for retirement investment. You do not want to risk your retirement savings on the volatility of the stock market, but you also want to see it generally appreciate.

For this kind of investment, dollar cost averaging is perfect.

Investment Is a Personal Matter

Before you make any kind of investment, you need to be sure that what you are doing is right for your personal situation. A lot of us can be fooled into thinking that it is easy to make money on the stock market.

But the truth is that it is not easy to make large, quick gains on investments. If you cannot afford to lose the value of your investment, you shouldn’t listen to the advice of get-rich-quick investment schemes.

Dollar cost averaging is a much more secure and trusted method of making your money grows over a long period of time.

If you’ve found this information useful, why not check out some of our other great articles on investments?

How to Negotiate Salary

You might be getting a new job or maybe you are being promoted at your current one. You know what is the thirst thing keep in mind? Negotiating the salary. An astonishing amount of people do not even think about doing this because it seems scary. Because they might seem demanding and hurt their position at their workplace in the long run. Well, that is not the case. If you know your worth you have to stand up for yourself. Of course, you need to be realistic as well. You cannot ask for more than you are able to deliver. It is as plain as simple as that.

Only about 37% of people negotiate their salaries. That number is quite low, and you can change that for yourself. Let us give you a good example of why even a little amount can put you upfront. If a colleague in the exact the position who does the exact amount of work like you gets a couple thousand dollars more per year it will count in the long run. Say you get $100,000 and he gets $107,000. It will take you up to eight years longer to be as wealthy when you retire. Now that sounds like a huge amount of working time, right?

Now, to help you in your quest for a bigger salary, we will give you some insight about the best things to do and how to do them in this regard.

Know Your Value

First things first, you need to know what value you are bringing to the employer. You should not embarrass yourself by asking an inexplicable sum of money. That is now how it goes. You need to gather information about the rates for people working in your professional industry and on the same position. Take into account the geographic area. If you walk in without any back knowledge in regards to how people in similar fields earn you will be starting the conversation with the wrong foot. After the employer makes the offer, how will you know if it is even remotely fair? So, make your homework when it comes to how much you deserve.

Also, if you know that some other people might be offering more or that they already made you a better offer, state that out and clear if it is the case. If you are in this position you can only win. You are in control in regards to accepting a lower fee or not. Ask for more than the competitors and bargain until you feel you got the right amount. If they will not play fair, take your dignity and leave to the other workplace.

Good online places to conduct research about salaries and so are websites like Payscale and Glassdoor. You might be amazed at what kind of valuable information lies there waiting for you.

Rehearse Your Speech

Go prepared! Go prepared regardless of the circumstances.

If you are a man you will find a lot of great resources on how to be more confident here.

Sometimes, you might even need to be ready to bluff. That’s how life goes. Considering that most corporations will get rid of you the next second that you are not profitable, make sure to take out the most from them as well. Look in the mirror at home and start speaking. Do not get us wrong, we are not advising in being aggressive, but rather having strong will. Do not let your standards bend for any workplace. That is how the employers are also kept in check by the working community.

Now, it is also important to ask for the top range. We know that since you might be a good guy, you will be decent enough to ask for what might to be the more realistic middle. Bad move! Ask for the most possible because your employer will definitely negotiate you down. That is how you will make sure to soften the fall. You should also go to the meeting thinking that you are really entitled to the top pay. For all we know, you might very well be.

Also, try to ask for a really exact number. Say $4850 instead of $5000. This trick will make it look like you know the market very well. It turn out that by doing so you are more likely to score a better salary offer by being closer to what you asked for.

Is It Really Time?

If this is not a new job that you are hunting for, then the amount of time you have been around is super important. You need to have been working for that employer for at least one year before asking for a raise. The only exception for asking before that mark is if you have an absolutely marvelous efficiency rate. Then yes, go ahead and ask to your heart’s content.

If you are not a genius at that job, then you should take into consideration the following:

• How long have you been working there
• How many new responsibilities have you take since you have been hired
• If you have been exceeding expectations

If you can checkmark all of the above, you are in the green zone.

What you can do is to create some sort of plan for your future before asking a raise, this way you will know when is the time to make the move.

Another good thing to keep in mind is the time and setting you will be asking your boss for a raise. If you wait until the performance review seasons, he might already have a plan in his mind with a number for each person. That might be really hard to tackle. So, considering this, start talking to him about a raise three to four months in advance.

Now, how do you feel about getting that bigger salary? Do not get the feel of restraint because of ultimatums. If you do not have a family at home that requires you to support them, this should be all just a game your you. Play it cool and patiently. And, in our opinion, the most powerful characteristic from all of the above is the power to leave if you feel underappreciated. With all this being said, we hope you get the maximum out of your negotiation!

A good financial plan in place is very important to build wealth. They help you achieve your goals and live the life you have planned for you and your family. Following you’ll find important steps to create a good financial plan for you:

Discover where your money goes right now

The first and foremost step to create a good financial plan is to analyze where your money goes currently. Start jotting all your expenses in a notebook. You can opt for a tech-savvy approach wherein a personal finance app keeps track of all your expenses for you. Continue doing this practice for 3-4 months.

Write down your financial goals

Having correct financial goals is the foundation for achieving financial freedom. After all, it’s important to know what you want to achieve in order to actually achieve it. However, make sure that your goals are SMART – Specific, Measurable, Attainable, Relevant and Time-based. Also, prioritize these goals and try to break them into smaller chunks so that you don’t get overwhelmed.

Create an emergency fund

It’s crucial that one of these goals includes a plan to deal with the uncertainties. You need to make sure you are prepared to face the storm. Failing to do so would result in adding on to the debt with every financial bump in the journey. Financial advisors recommend stashing at least 3 to 6 months of your salary.

Pay off your debt

You can’t kick start a financial future if the burden of hefty debts is holding you down. Make a debt pay-off strategy and be patient yet consistent while working towards being completely debt-free. This will always help you to increase your credit score.

Start building a portfolio

After saving enough for an emergency fund, start building your portfolio. For new and seasoned investors, the easiest way to build a portfolio is by investing in mutual funds. There are several types of mutual funds like equity mutual funds, debt funds, etc. available to investors that they can choose from according to their goals.

Track your mutual fund investments

It’s important to keep track of your investments. Manage your financial plan to ensure that it remains congruent with your current financial situation. Tracking your investments also helps you to understand if they have performed according to your expectations.

Plan for taxes
Yes, taxes are annoying but they are a part and parcel of your life and sadly your investments. They are not going anytime soon. Not planning for taxes can hamper your cash inflow in a major way. You can avail the services of a financial planner or tax accountant to ensure that your plan is tax-efficient.

Creating a financial plan requires work and patience. Owing to the diversification offered by mutual funds, a lot of investors prefer investing in mutual funds online. Remember, this is your journey, and only yours, nobody else’s. So plan accordingly. Happy investing!