Eight money tips to help young earners plan their finances

THE ECONOMIC TIMES Tue, Jun 21, 2016 | 09:29 AM IST ET Wealth Newsletter

WHAT'S HOT #HealthInsurance,#TermInsurance

Eight money tips to help young earners plan their finances The twin behavioural devils of ignorance and procrastination push most people into their 30s before they get down to streamlining their finances. Just started earning? Take this quiz to find out your financial personality Take this quiz to find out how your personality can shape your investing and how to overcome the pitfalls. Young earner? Five financial mistakes you may regret later Find out how to avoid these stumbling blocks to ensure a smoother start to your financial journey. From our Partners How to customize your life insurance policy with riders Riders are additional yet optional benefits in a life insurance policy and provide a financial cover over and above the basic sum assured. From our Partners How to be on the right side of debt Over-dependence on credit cards to meet day-to-day expenses may lead to a debt trap and if not managed properly, the damage can soon become irreversible. Here's how to use plastic money and still remain debt-free. Should young earners take their parents' advice while investing? While every generation thinks it knows best when it comes to investments, today's youngsters have more educational and decision-making tools at their disposal. How young earners can grow their salary with their career Career is the single largest contributor towards your well-being and wealth. Spend time to make a long-term plan and follow through to enjoy the rewards. Personal finance apps to help you manage finances better There's an app for everything now, and there are dozens that try to help you make, save and manage money. ET lists some personal finance apps that can do wonders for your wallet. Should you invest in the upcoming IPOs? Find out Investors can pick up the good stocks from the secondary market once the hype generated by the IPO fades and the counter settles at lower levels. From our Partners How to plan for child education expenses Rather than making investments on ad-hoc basis, it's crucial that one puts a plan in place to meet child's education needs. From our Partners What are Term Plans? By Shrutika Nagpal A term plan is a specific type of life insurance policy that provides protection for a definite period of time or 'term'. In the event of the unfortunate demise of the insured person during the specified term, the insurance company pays the beneficiaries of the insured a pre-determined sum of money. Term plans are the most economical plans out of all life insurance policies as they provide life cover at cheaper premiums.

Financial Calculators Tax Impact Calculator This tax calculator will let you know how your tax liability changes post-Budget 2016. Just input your personal income details and know how much tax would now be payable. Home Loan Refinance Should you refinance your home loan? Use this calculator to find out if it is worthwhile to shift your home loan to another bank? Just enter the data and click next. It's that easy. More Calculators

NRI shifting back to India? How to manage assets during relocation Kapur should be aware of the fact that he can hold on to his global assets for a while, even when he settles down in India, and make his decisions accordingly. Smart things to know about Income Declaration Scheme 2016 Income Declaration Scheme 2016 is an opportunity for those who didn't disclose income or pay taxes thereon in the past. Don't get confused by multiple investment options: Start early for better returns Too many options can be intimidating when it comes to making investments, but the sooner you start, the better returns you will reap in the future. Family Finances: Early start with savings to help Kulkarnis achieve financial goals easily "I want to know how to invest for the life goals, including our child's education and retirement" : Abhijit Kulkarni Reasonable valuations make Jubilant Life Sciences stock analysts' favourite A 65% y-o-y increase in net profit, approvals for new generic drug applications, reduction in debt, and resonable valuations have made the counter analysts' favourite. Startup Tpot's tea chain offers 'chai-nashta' in cafe style Founded in January 2013, Tpot offers a wide range of freshly brewed teas and snacks in a café-like setting. My Enterprise: How Narendra Bansal grew Intex Tech turnover from Rs 1.18 cr to over Rs 6K cr From clicking pictures using a borrowed camera, to establishing a billion-dollar company, it has been a remarkable journey for Narendra Bansal. HDFC Prudence Fund: High risk scheme with stellar record ET Wealth examines the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision. How to make a health insurance claim Policyholders can make health insurance claims either through cashless or reimbursement mode. Alternative investment returns monitor: For week ending 16 June, 2016 The scope and attractiveness of alternative investments is increasing. Here's a weekly tracker of returns from such investments. Should you ride the rally in NBFC stocks? Niche play, likely rebound in rural consumption and good asset quality have lifted NBFC stocks. ET checks out their real-worthiness.

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