Paying off debt versus investing money?

If you get some additional money in hand via a bonus or a pay raise – what should you do? Indulge yourself, pay off your debts/ loans, if any or invest? There are seldom any easy choices there – especially when it comes to paying off debt versus investing. And both may have their own merits and demerits!

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Some common misconceptions about investing

A right approach towards investments can be your starting point towards your financial goals. While your investment mix may not always be perfect (who has!?) it is good to understand different investments, how they work and how they can help you achieve you financial goals. Before that, it is important to dispel some common misconceptions about investing, and hopefully base investing decision based upon understanding  of how that investment works rather than hearsay!

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The financial independence mindset

There are many people who make lot of money and can be potentially financially independent in future, but they don’t. Conversely, there are many people who may not be making much money but can potentially be closer to financial independence in few years. They may or may not get there. But they can at least be on that path. What differentiates the both? Arguably it is the starting point – the mindset – the financial independence mindset.

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Are your investments really profitable?

We all want our investments to be profitable and deliver good returns. But how do we evaluate profits on investment? Is it a simple selling price minus cost price of the investment? Or is it not simple as it sounds? Is there a sure way to know if your investments are really profitable?

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3-point checklist before you begin investing

Investing right can be a great way to make and grow wealth. If done right, in long run, investing can help you achieve your financial goals and even financial independence. The earlier you start your investing journey, the better it is. It gives you much more time to let compounding work wonders for you! However, investing, while important, is not the only goal of your financial journey. Here is a small 3-point checklist that you should tick off before beginning your investment journey.

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Financial planning is more than just chasing high returns

While preparing a financial plan for ourselves and our family, we tend to focus on investment part of it. Agreed, it is an important aspect of financial planning, but it is not the only thing. We often tend to get attracted by the investments that give higher returns. However, in the pursuit of high returns, do we lose the sight of other aspects of financial planning journey?

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Tax saving options under Indian Income Tax Section 80C

Section 80C under the Income Tax act of India provides several avenues to save tax. Currently an individual can get tax exemption up to Rs. 150,000 by investing in these instruments. Some of the tax saving options under Income Tax Section 80C in India are PF, PPF, ELSS, NSC, SSY, home loan principal repayment etc.

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