A lot of credit card users find it difficult to pay the total credit card balance in one shot. What to do when you are unable to pay the total due? Will the credit card company sue you or what? These are the common questions that come in mind when people find themselves in such a situation. Here is the solution. Try to pay the minimum amount; if you are unable to pay the total credit card balance, pay the minimum amount. As long as you are paying any figure equal to or higher than the minimum amount, the credit card company will NOT sue you or initiate any litigation on you. But, if your monthly payment is lower than the minimum amount set by them OR you are not paying at all, your creditor can place your account on collection. Most of the time, in-house collection agencies will handle the...
As long as you are young and earning good money there is no problem. But as you grow old, health care expenses and expenses regarding your children’s higher study, all increase to a great extent. You can think about one time fixed deposits to cover such expenses, but what about daily expenses, traveling and other expenditure when you stop working? A good pension plan is the answer. Public sector employees may have a source of earning after retirement as they are awarded pension by the government. If you are working in private sector secure your future by investing in pension plan as long as you are earning. In this age of unstable economy and sudden financial crisis pension plans are necessary for people to live a tension free life after retirement. With a pension plan you don’t have to...
The passing phase of recession has left many bereft of their investments in the stock exchange. While there are some who are still thinking of withdrawing their shares from the Indian economy, there are some who would like to stick till the end. But what makes it possible to decide where the share market is heading to? If you have a stake in some well known company, you are sure to get consistent returns. However, the mantra is not to make huge investments in any company. This might put your shares at stake if the market is really low. Don’t go by performances. It is largely the consistency that counts. Read More →
Your savings for retirement largely depends on three factors-how much you contribute, when do you start and what is your earning from the investment. However, it is advisable to contribute a large part of your income towards retirement benefits. In fact, the general consensus is at least 10 per cent of your income should be contributed at a minimum starting level. As you grow in income, you should increase the percentage of investment. It is therefore advisable to start early so that a substantial return is earned and you don’t have to go through the pressure of increased investments at the time of retirement. Read More →
Credit cards have become a part and parcel of our lives. Easy to shop with, it gives you the freedom to shop without thinking of cash. However, convenient it may seem handling a credit card needs much financial knowledge. There are different kinds of credit cards that have credit limits set according to the requirement of the applicant. Some of the varieties include poor credit, student credit cards, reward cards, and foreign cards. Look for credit cards that have low interest rates so that you don’t have to fish out exorbitant amount at the end of every month. Set your limits according to your earnings every month and make sure you do not cross the limit. Most importantly live within your financial means. Read More →
Sitting for financial settlements-be it tax or mortgage issues-is the last thing that we look out for during the weekends. However, these things need our attention too. In such a situation, it is best to hire a financial advisor who would guide you through the legal and the commercial aspect of financing while taking due care not to bother you too much with the nuances. An expert in his field, he can further advise you on the best places to invest and how to invest. Specialized in mutual fund investments, non-private and government investments, stock market and banking, the consultant can help you find a way to sort all your financial problems. However, before buying the services of a financial consultancy or a consultant make sure that they are registered and practice authenticity. In fact,...