Sanjay and Akshay began their corporate careers together. They both dreamed of owning a luxury car.Their salary had increased significantly in 2017. Sanjay was considering an Audi A4. Sanjay decided that now would be a good time to purchase the Audi because he could comfortably afford the EMI. The car would cost him 41.5 lakhs. He applied for a car loan for 80% of the car's value for 5 years with a 20% (~8.3 lakhs) down payment. Each year, he

When it comes to investing, there are several things that are not in our control as investors. The economic conditions, events triggering changes in the market, how the market reacts to such conditions and hence the returns in the near term, and so on. But there are still some things that we (the investors) can influence. 1.           The amount we can put into investments 2.           The time period of our investments In the Compound Interest

Have you defined the goals for your investments and savings?Have you got a clear idea of what you want to achieve with the money you are investing? We have all traveled. From where do we start the travel?'Where are you going?' Until you can answer that question, you can’t say that any one route is better than another.Any road will get you to where you want to go. Similarly, when you define your purpose for

Rome was not built in a day but the brick was laid every hour. This popular quote by JohnHaywoord is applicable to various aspects of life, especially finance. Regular savings and thereby, investments are important to build wealth. Meticulous, planned, and regular investment into known, understandable financial products fetch better results than identifying and understanding new financial products and investing randomly. After all, wealth is not built in a day or rather a year but

Amit desired to renovate his home. He had planned to spend between Rs. 7 and Rs. 8 lakhs on the project.  He had gotten quotes from a few good architects and settled on one whose price matched his expertise. While the renovation was going on, Amit was advised to renovate his bathrooms and attic as well. It seemed reasonable. He wouldn't have time to do this later. He considered purchasing new furniture after the renovations

Amit has been trying to save for retirement for several years. However, whenever the corpus grows large enough, there is an expense. He had to spend a significant amount last year on house repairs, maintenance, and new furniture. He wishes to enforce discipline in his retirement investments. He has been investing in PPF and has received some tax breaks under Section 80C. However, interest in PPF has been steadily declining. He has now researched mutual

Anand and Amit joined the company shortly after graduating from college. Anand's father had asked him to contribute an extra Rs.8000 per month (~Rs.1 Lakh per annum)to his Provident Fund. He agreed because he was only paying a portion of his salary and getting to spend the rest. Amit had not considered this addition at the time. Anand took out a loan a few years later and planned to use the Rs.8000 to repay his loan.

By making some lifestyle modifications, we want to make our lives more comfortable.From an Android to an iPhone, an apartment to a villa, a hatchback to an SUV, and from one car per family to two. In our daily lives, we don't give much thought to these changes. Over time, every adjustment we make to our lives has an effect on our finances. Understanding the effects of these changes can aid in making decisions about