When an individual is done with personal financial assessment, goal setting, budgeting, development of financial plan, and its initial execution, then it does not mean the battle is won. In fact, the difficult part is yet to come. The budget changes every month, the expenditure is always more than expected, market is full of banking …
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Wealth Creation Definition: Wealth creation means anything which could be owned and controlled, and have monitory value or have the potential to create the monitory value. Assets could be tangible like a car, house, furniture, machinery etc. or intangible like goodwill, copyrights, patents, trademarks etc. For a company, the land, the building, machinery, inventory etc. …
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Debt Management Definition: A debt management is a contractual agreement between two parties (debtor and creditor) to safeguard their own interest. In simple words, terms and conditions defined by lender to the debtor to repay outstanding debts with pre-defined interest rate and duration of repayment. Probably, this is the most important lesson one has to …
What is Debt Management? Definition, Strategies, Plans with Examples Read More »
When it comes to personal finance, the topic just cannot be complete without discussion on insurance. We all know that no buddy knows the future. No one can just tell if someone will be living tomorrow (next day) or not. This is such a high uncertainty. In India, there is either one person earning bread …
Types of Insurance offered by Insurance Companies Read More »
While dealing with personal finance, setting goals are probably the most important step. And in order to achieve those goals, saving and investment play the biggest role. Savings means keeping money aside for future use. Investing means putting money or buying some assets in expectation that money will grow with the time. Here the intention …
Difference, Relationship, Importance of Savings and Investment in Personal Finance Read More »
Most of the people don’t know that they are paying tax on everything. Here we are going see about income tax slab for financial year (FY) 2020-21 under new tax regime as well as under old tax structure, income tax deductions for assessment year (AY) 2021-22, 80C deduction for FY 2020-2021, income tax exemptions, limitations …
Income Tax Slab, Deductions, Limitations in India – F.Y. 2020-2021 Read More »
Personal Banking Definition: Personal Banking is also termed as Retail Banking. It is one of the types of banking products and services which are offered to retail customer. Services like personal loan, debit cards, credit cards, mortgage loans, savings etc. are offered by banks as a personal financial solution to the retail customers. In order …
Personal Banking Products, Services and Solutions of Financial Management Read More »
Introduction to Goals of Financial Management: Once assessment is done and all the current financial facts are on the table, then one can start making plans. In order to give plans a direction; there is the utmost importance of setting goals. Working without a goal is like walking / travelling without having a destination. So, …
In this personal finance tutorial course we will understand about what is financial assessment? How to evaluate personal finance? How to conduct financial assessment for a company? How to perform individual financial assessment. If a person can perform assessment in the right way, it will benefit individual in planning expenses and savings pretty well. Financial …
Financial Assessment of a Company or an Individual: Definition, Evaluation Read More »
Personal Finance Definition: Personal finance is the management of individual finance that includes budgeting, saving, expenses, planning, financial protections, and goal setting. Here individual means a single person as well as a family unit. To make it simple, personal finance covers everything that a person has to deal with when it comes to the money. …
What is Personal Finance? Definition, Examples, Management and Basics Read More »
