Finance

The importance of regularly updating your estate plan

Estate planning is not a task you complete once and forget. Your estate plan needs constant attention. After all, as your life evolves, many aspects change. Your family may grow, assets fluctuate in value, or your business interests can change. If you move or own property in another state, that's another change. With each twist and turn life offers, your estate plan should remain aligned with your current situation and future goals. For anyone with a high net worth, this process is more than just some paperwork. It's a strategy to preserve your legacy and make sure your wishes are honoured. Here are some crucial reasons for keeping your estate plan up to date. Adapting to life’s twists and turns Life's journey brings many changes, and these developments can have a big impact on your est

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Finance

New vs. Used cars: Impact on Car Loan Interest Rates

When you plan to buy your dream car, one of the big decisions you have to make is whether to purchase a new or used car.  New cars undoubtedly offer the latest features and warranties, and everything is in good condition. But on the flip side, a used car delivers awesome value and affordability. However, this decision doesn't just affect the downpayment; it can also influence the interest rate on your car loan. So, let's explore the impact of new and old car rates of interest. New Cars and Interest Rates Buying a new car is quite an exciting and wonderful experience. But it will cost you more than used car. However, this high cost can lead to higher loan amounts, which may lead to higher interest rates. Lenders may see new cars as riskier investments due to their depreciation—how a car

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Finance

Do Electric Bikes Need Driving Motor Insurance?

In recent years, electric vehicles have taken the world by storm, offering a cleaner, more sustainable mode of transportation. Among the various electric mobility options, electric bikes, or e-bikes, have gained considerable popularity for their convenience, cost-effectiveness and eco-friendliness. However, as more individuals consider switching to electric bikes, questions regarding legal requirements, especially the necessity of driving motor insurance, often arise. Navigating the ever-changing landscape of transportation regulations can be a challenging task. While most people are well-versed in the requirement of a driver’s licence for conventional vehicles, the rules governing electric bikes lack clarity. Additionally, understanding how to obtain comprehensive bike insurance for elec

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Finance

Want to determine the ideal asset allocation mix? Use an asset allocation calculator

After entering the job market, the first thing you must do is start planning for your retirement. You can start investing to save for your retirement. One of the numerous investment options you can opt for is one of the different mutual fund types available in India. These variants invest in various assets and come with varying levels of risk. For choosing the suitable mutual fund variant and determining the asset allocation mix, use asset allocation calculators. What are asset allocation calculators? Asset Allocation Calculators are online tools that are easy to use. You can use them to get an appropriate asset allocation mix. All you need to do is enter your current age, investment horizon in years, and the level of risk you can tolerate (You can modify from very low to very high). For

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Finance

Best banking apps in India: Check the top five!

Embarking on a seamless banking journey has never been easier, thanks to the power of technology and the convenience of banking apps. In today's fast-paced world, where time is of the essence, traditional banking methods can sometimes feel a bit sluggish. That's where these top banking apps come to the rescue! Whether you're looking to check your account balance on the go, transfer funds swiftly, or pay your bills in a hassle-free manner, these apps have got you covered. Let's dive into the top five banking apps in India that are revolutionising the way we manage our finances. 1. IDFC FIRST Bank App: The ultimate banking companion When it comes to a comprehensive and user-friendly banking app, the IDFC FIRST Bank App stands out from the crowd. Offering a plethora of features, it ensure

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Finance

Advantages and disadvantages of a travel loan – Know here

Do you dream of embarking on an unforgettable journey, exploring new destinations, and immersing yourself in diverse cultures? Travelling is a transformative experience that broadens horizons and creates cherished memories. However, financing your travel expenses can sometimes pose a challenge. In such situations, a travel loan can come to your rescue. Advantages of travel loans Fulfilling your wanderlust sooner: One of the most significant advantages of a travel loan is the ability to fulfil your wanderlust sooner rather than later. Instead of waiting years to save up, you can start exploring the world immediately. With a travel loan, you can secure the necessary funds to embark on your dream vacation, even if your current financial situation doesn't allow it. Flexibility and convenien

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Finance

Reasons why you should opt for a personal loan to finance your big purchases

A personal loan is one of the most popular credit options in the market today. The loan is popular owing to its unsecured nature, simple eligibility criteria, quick disbursal feature, and easy loan application process. Unlike education loans, home loans or auto loans that can only be used for a particular purpose, you can use the personal loan proceeds for any personal reason, which is not speculative in nature. Despite this, many hesitate to hit on the personal loan apply online option owing to the lack of knowledge about the loan product. Discussed here are some reasons why you must opt for the personal loan option to fund your big-ticket purchases – No risk to security – A personal loan gets approved based on your credit history and score. This means you do not require providing any

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Finance

The impact of currency exchange rates on ETF performance

If you're an investor in exchange-traded funds (ETFs), you're no stranger to the importance of keeping a close eye on market trends and economic indicators. One such key factor that often goes under the radar but can have a significant impact on your investments is exchange rates. The value of your ETFs can be deeply influenced by fluctuations in currency exchange rates, which can result in both benefits and risks. Read on to find out more. Understanding exchange rates and how they work Exchange rates are essentially the value of one currency in relation to another. They are determined by a number of factors, including economic growth, inflation rates, interest rates, and political stability. Exchange rates are constantly fluctuating, and this can have a profound impact on the value of y

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Finance

How To Save Money While Making Your NBPDCL Bill Payment?

Everybody wants to save money, whether it’s while purchasing something or while simply paying their electricity bills. If you also wish to save some money while paying your NBPDCL bill, keep reading. Identify The Cause And Cut Down On Consumption Sometimes you need to reach the root cause of the problem and start correcting it right from the beginning. If you’re getting huge electricity bills, the easiest way to save some money is by identifying the cause behind those increasing bills. Then you can determine for yourself whether you can cut down on some of those consumption patterns or not. If you can, do that. Switch off lights and fans when you go out of a room, don’t leave the plugs on when not in use, use motion detector lights, and so on. All these small steps can reduce your energ

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Finance

Which is better, OTC or the listed options?

Options are classified into two categories: over-the-counter (OTC) and listed. The main difference between the two is that OTC options are traded between parties directly, while listed options are traded on an exchange. In this article, we will compare and contrast the two types of options and try to determine which is better. Understanding the Basics Both OTC and listed options have the same basic structure. They are contracts between buyers and sellers, where the buyer has the right but not the obligation to purchase or sell an underlying asset at a specific price and on a certain date. The main difference between the two types of options lies in their trading venue: OTC options are traded between two parties, while listed options are standardised and traded on an exchange. Advant

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