7 Ways to Use Annual Bonus Wisely

Expecting a hefty annual performance bonus? It is the time of the year many of us start getting excited about the salary hikes and annual bonuses. Not everything is in your hands but the anticipation and excitement is palpable. There is much time spent in cabin gossip over a cup of coffee speculating over the… Continue Reading

When Is It Foolish to Take a Personal Loan?

Personal loans are easily available. Many banks even claim to provide instant personal loans. You get regular email alerts that you have a pre-approved loan. And if you are planning a very expensive vacation, don’t think twice because the personal loan is yours for the taking. The picture is rosy. Your ego is bloated. Cost… Continue Reading

5 Credit Card Habits You Should Avoid

Whether credit cards are useful or harmful depends on the person who uses it. To a prudent spender, a credit card means discounts, cash backs, reward points, easy and interest-free credit. To an irresponsible spender or someone who is struggling with cash flows, credit card may mean high interest rates, minimum payments, penal charges and… Continue Reading

Investments through Credit Cards?

Many of us have grown so fond of rewards points that we even want to make our investments through credit cards.  Sounds good, right? It is like having a cake and eating it too. Many times, I hear this question (investment through credit card) at the end of the financial year when many of us… Continue Reading

When Should You Consider Refinancing Your Loan?

Refinancing a loan simply means availing a loan from a new lender to pay off an existing one. You approach a new lender for loan refinancing/balance transfer. The new lender sanctions the loan and settles your loan outstanding with the existing lender. Subsequently, your obligation with the existing lender terminates and a new repayment obligation… Continue Reading

Using Annual Bonus to Prepay Home Loan

Most salaried employees get their annual bonuses in the first quarter of the financial year. Many of us plan to spend it way before we actually receive the bonus. You have to keep up with the commitments that you made to your kids, your spouse, your siblings or your parents. You may have an eye on… Continue Reading