Blog

-

December 16, 2013

Top 5 smartphone applications to save and make more money

Best Google Play Apps

Smartphone is widely used device in India. People use smartphone for entertainment and internet browsing purpose. Apart from entertainment you can use your smart phone smartly to make or save more money.

Yes we are herewith Top 5 smartphone applications to save and make more money

Save Money India

Today, there are many websites that announces deals and discounts on daily basis but we cannot take full advantage as we are not aware about these offers.

SAVE MONEY INDIA brings a platform where you can get all the latest information about deals and discounts from various online shopping portals.

Remember – “What we save is what we earn”!!

India Coupons

India Coupons allows the user to search for coupons and deals for online shopping sites. All possible coupons are combined together so user don’t have to search for the coupons on different sites. Just click on your favorite shopping site, add items to cart, put the coupon codes on checkout. Shop more and save money with India Coupons

India Coupons provide coupons from major shopping sites like Flipkart,Jabong, Myatra,Yebhi and many more.

Monthly Expense Tracker India

Monthly expense tracker india is simple application to track where your money goes.

Whether it is Monthly Expenses like Rent, Cable, Tuition fee, Electricity bill or Anytime Expenses like Buying Vegetables, Provisions, charging SIM or Buying books, Expense Tracker India can track them all. You can get summary and detailed reports of all types of expenses. You can also track your ATM withdrawals. Check the quarterly trend to see where expenses are growing up.

And you don’t need Internet, banking account to use this application

My Funds – Portfolio Tracker

Are you looking for mutual funds or equity tracker, My Funds is application which can provide facility to track stocks and mutual funds investment with a touch of button.

This application is easy to use support all BSE stocks and all mutual funds including SIP. You can have Stock and NAV charts. You can track profit or loss. It does not require any account or username password.

Indian Income Tax Calculator

Indian Income tax calculator is application for the financial year 2013-14 & 2012-2013. It calculates an income tax for salaried people or individual tax payer based on the given Year, Person Age, Basic Amount, HRA for Metro/Non-Metro, DA (Dearness Allowance), Special Allowance, LTA Received and Conveyance Allowance etc.

Investment details and income tax exemptions are calculated on HBL (House Building Loan) Principal, Medical Bills, Medical Insurance, PF (Provident Fund), Mutual Fund, Profession Tax Paid etc, under the sections (80C, 80D, 80E, 80U) of the Indian Income Tax Rules.

Tax payer should enter accurate annual amount received or spent in the relevant boxes and keep empty if it’s not applicable to you. Once tax is calculated it gives break up of calculated income tax along with tax slabs.

You can Download this applications from Google Play.

Hope these applications will be useful to you. Do share your views or feedback in comment section.

7 Tips for Retirement Planning

Retirement

Shitanshu Kapadia

-

December 13, 2013

0

Retirement Tips

Retirement planning is mandatory today. Especially in countries like India where we don’t have any social security system in place.

In India we see most of the people are worried about retirement and they want to continue their job/profession beyond 60 year age. Research reveals that 70% of individuals are unable to demonstrate financial readiness for retirement. Running out of money is serious worry which is bugging everyone.

How much money do I need for Retirement?

Simple question but yet very difficult to answer. One common answer is use retirement calculator to find out retirement corpus.

God knows that predicted retirement corpus like this will be sufficient or not.

Giving practical example, suppose you need only 50 Rs/- to reach to your office (transportation cost) do you leave house with exactly 50 Rs/- in your purse? You won’t.

You carry at least 100 Rs or 200 Rs + ATM card + Credit card in your purse. Similar to this if you need X corpus for retirement you must plan for 2X or 3X.

We are herewith 7 Tips of Retirement Planning which will surely help you to enhance your retirement corpus.

1. Start Early

Simple but very effective advice given by many is start investing early. If you save Rs.5000 every month for 30 years at rate of 12%, you will have good corpus compare to person who save same amount at same rate for 10 years.

2. Invest before spending

You should make habit of investing money before spending.

Every month we have some regular expense like utility bill, household expense. Along with spending we should schedule our investment before spending.

3. Select Tax Free Investment for retirement

While making investment for retirement you must select Tax free investment instrument.

PPF is one of the best retirement friendly & tax free investment instrument. Similar to PPF you have ELSS and various other option as tax free/tax saving investment.

4. Diversify Your Portfolio

If you are investing money for retirement we recommend not put all money under one basket. This will increase the risk of losing all your investment or may limit return on investment.

Diversify your portfolio.

5. Consider all future expense in your retirement corpus

When you calculate retirement corpus please consider all future expense. People often omit expense like medical cost, cost of employing cook, maid etc.

When deciding how much you need to save for retirement, make a list of all the expenses you may incur during your retirement years.

6. Periodically Reassess your Portfolio

You must relook in to your investment portfolio periodically. Based on return and market condition you must make changes. This will help you ensure that your retirement planning is on target.

7. Work with an Experienced Financial Planner

If you are not experience in field of financial planning and portfolio management we recommend engaging qualified financial planner.

Hope these tips will be useful for planning your retirement.

Remember – “If you want to celebrate financially secure retirement you must full proof your retirement plan.”

Wishing you Happy Retirement

IIFL Home Bond Review

Investment

Shitanshu Kapadia

-

December 11, 2013

0

IIFL Home Bond

IIFL one of the largest financial service company in India plans to open IIFL home bonds NCD on Dec 12, 2013. The NCD issue is 250 Cr with option to retain over subscription of additional 250 Cr aggregating to a total up to 500 cr. Let’s checkout features of IILF Home Bond.

IIFL Home Bond details-

Face value of NCD – 1000 Rs/-
Minimum application size is 10,000 Rs/-; Allotment on a first-come-first-served basis;
12.15% p.a. yield; 11.52 coupon with monthly income
Bonds are secured and carry maturity 5 years
No TDS on interest if held in DEMAT Form
Bonds will be listed on NSE and BSE
Minor through guardian can apply
Rated AA- by CARE and CRISIL
Monthly interest payment option to enable regular cash flows to investors
No Call & Put Option available, which means company Cannot prematurely redeem the bonds
Offer opens on December 12, 2013 and closes on December 20, 2013
Allotment will be done on first come first serve basis

This is the fourth issue from IIFL Group in the last 3 years.

Looking at first glance with 12.15% yield & 11.52% coupon is very lucrative offer but we should look at return on a post-tax basis.

For someone in highest tax bracket 30% this coupon rate of 11.52% will reduce to 8.12% post tax. For tax bracket of 20% it will reduce to 9.6% post tax and to 10.36% for 10% tax bracket.

Post tax return is slightly higher compare to FD. We recommend you to invest in this NCD only if you are falling under lower tax bracket (10% slab) and happy with return of 10.36%.

If you enjoy reading this post, do share with your friends on facebook and twitter!

Tips to New & Aspiring Entrepreneurs

Business Ideas

Shitanshu Kapadia

-

December 9, 2013

0

This Sunday I met with the young aspiring entrepreneur. He shared with me his business idea. He was confused that how to quit 9-5 job and turn this business idea in to reality. Today we see many people like this, who are dreaming for entrepreneurship but they don’t know what to do. In order to help them we are herewith few pointers for these new & aspiring entrepreneurs.

Before quitting job and starting business you must do one thing is analyze your financial situation. You will need money every month to fulfill your need like feeding mouth, EMI and other utility and household expenses. You must keep at least 6-8 month expense aside.

Another important point which you should take care of is, if your business fails what is your exit or roll back strategy. We advise that whenever you leave the job don’t burn relation with your employer. Keep in touch at least for first few months.

tips new entrepreneur

Tips to New & Aspiring Entrepreneurs

(1) Decide your line of business

Decide which business is most suitable for you. Search your soul. Getting success will be difficult if you are not with your soul and not passionate about your business.

Apart from this you must do research the market. Product study & market analysis always boost your confidence.

(2) Gain Work Experience

One should acquire skills and knowledge before getting instrumental for business. You must work first and learn the basics of a particular business. Do not just think of only earning money through salaries, but earn knowledge and experiences.

(3) Arrange for capital & resources

Capital & resource is top most requirements for starting any business. If you don’t have capital you can borrow from family or friend. We recommend building capital on your own. If require you can opt for small part time sales assignment believe me sharpening your skill on sales and marketing will help you a lot. Good salesman can become good businessman.

Apart from capital you may need place/office to start business. If you don’t have any suitable place/office we recommend taking office on lease.

(4) Getting Started

Entrepreneurship is a journey & not a destination to begin this journey you must complete several formalities. First, you need to register your business. Another thing you need to do is obtain a GSTIN number and open business credit card Singapore.

(5) Don’t be afraid of initial failure

Remember failure always teach us priceless lesson which school or university cannot teach. Failures are temporary setbacks, stepping stone to success.

Sufficient time is required to establish and run the business so make up your mind don’t afraid of initial failure and don’t carry away by success.

(6) Try and try until you succeed

You must continue your try till you get success. This reminds me about important lesson taught by Abraham Lincoln who failed so many time but never give up.

Abraham Lincoln could have quit many times but he didn’t and because he didn’t quit, he became one of the greatest Presidents in the history of US.

You must try and try until you succeed.

Remember “Quitter never wins, Winner never quits”.

(7) Think beyond money

Sometime entrepreneur should think beyond money. Remember customer is king rather than thinking about money one should think of increasing customer satisfaction & services which will always help in enhancing business.

Remember being entrepreneur is not just thinking or remodeling old business idea. It’s about brining creativity, innovation to business and servicing society and nation.

Just checkout following video “Muruganantham school dropout social entrepreneur from Tamilnadu brings idea to make low cost sanitary napkin, creating thousands of jobs for rural woman & helping nation and society.”

If you like reading this article, do share it with your friends with facebook and twitter.