We have looked at “Buy vs Rent” for a house. In this post, let’s extend this argument to a car. Wait, what, a car? Yes, instead of buying a car, you can rent a car. You buy a new car on loan. You pay EMIs for 3-5 years and for insurance and maintenance every year.… Continue Reading
The Union Budget 2023 is round the corner. Are you ready with your wish list? What do you want from this budget? Lower taxes? Higher tax deductions? Additional tax exemptions? The Budget announcements may not meet all your demands/wishes since the Government must strike the right balance between populism, targeted incentives, and tax collections. Still,… Continue Reading
For many of us, a new year starts with resolutions. And these resolutions can encompass a wide range of areas such as physical health, financial wealth, personal spirituality, and relationships. What are your resolutions for the new year? Well, you don’t have to tell us but make a concerted effort to see them through to… Continue Reading
You spend a big amount on your credit card. You do not have the money to settle the bill in full by the due date. You decide to pay off the debt over the next few months. That means you won’t pay the bill in full right away. You will keep paying whatever you can… Continue Reading
You open Amazon/Flipkart to purchase your favourite gadget. You notice you can get a discount if you pay using a credit card from a particular bank. And you get a higher discount if you purchase on EMIs using the same credit card. Interesting, isn’t it? Why higher discounts on EMI purchases? But first, why discounts… Continue Reading
Every home loan borrower wants to close the home loan quickly. After all, you truly own your house once you have repaid the entire home loan. How Does the Home Loan Amount Go Down? We know how loan mathematics works. Most home loans are reducing balance loans. With reducing balance loans, a portion of EMI… Continue Reading
The keyword here is “plan”. We don’t focus on instances when your big purchases are forced, say your mobile phone or laptop conks off suddenly. Or your bike or car is suddenly showing problems and the cost of repair is too high and not justified. There is not much you can do about such instances.… Continue Reading
Are you ready to buy your first house? Some are never ready. Some think they will never be ready. Some want to buy after working for a few years. And some are eager to act with their first salary. Buying a house is a big life decision. Emotional security, your past, upbringing, peer pressure, social… Continue Reading
Financial Innovation in credit products is the order of the day. Recently, I came across Bajaj Housing Finance myEMI home loan product. How is this product different from existing home loan products? Let’s find out. Bajaj Housing Finance myEMI Home Loan Product Under this product, you can choose your EMI subject to the following conditions.… Continue Reading
Swiping a credit card is easy. Repaying credit card debt is not. There will be situations where your cashflows will be stretched and you won’t be able to pay your credit card bill in full. What do you do then? Will that affect your credit score? Well, if you read a card statement carefully, you… Continue Reading