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Showing posts from November, 2021

HDFC Bank Platinum Times Credit Card Review 2023

Why should i use my credit card

  Why should I use my credit card? During the holiday season have you seen those Debit card infomercials they basically demonized credit cards and said how dangerous daddy is to use your credit card it's like Oh No right it's such a bad thing  well I believe only idiots use debit cards here are five reasons why I believe credit cards are much better  Reason number one why you want to use a credit card and that is you can leverage other people's money you see this is saying that cash is king  In business, you can survive a long time without making a profit but you will not survive a day without cash companies go out of business because they run out of cash  When you use a credit card you're essentially borrowing money from the credit card company so when you use your debit card the minute you use their card that money is gone from your bank account  But when you use your credit card assuming you're paying off the balance every single month you're leveraging the c

Credit score myths that can harm financial health

Credit score myths that can harm financial health  With so much information on the internet on credit scores what's really important when it comes to making improvements here's what you should know about some of the most common credit score myths Number one:  Checking your credit will decrease your overall score  anytime you apply for credit you are providing lenders permission to obtain copies of your credit report from a credit bureau when you pull your own credit report this is considered a soft inquiry and does not have an impact on your score  applying for a new credit line requesting a credit limit increase financing a car or purchasing a home are all examples of hard inquiries. Number two: Closing credit cards help your credit score  Remember that credit card from college with the 500 limits don't be so quick to close this account keeping this card shows lenders you have the ability to keep a line of credit open for a significant amount of time while remaining in goo

How to Build a Portfolio with ETFs

How to Build a Portfolio with ETFs Building a portfolio typically involves allocating a certain percentage of investing dollars across various asset classes such as stocks, bonds, and cash.  Additionally, it's important to consider diversifying your portfolio by distributing investments across subclasses within major asset classes such as various stocks sectors and bond types.  Exchange-traded funds, or ETFs, are one investment vehicle that can be used to help accomplish both portfolio allocation and diversification.  An ETF, like a mutual fund, is a pool of money invested in a number of different securities. There are ETFs for many asset classes including stocks, bonds, commodities, and even currencies.  There are equity ETFs that focus on specific asset types like small, mid, and large-capitalization stocks, or on specific sectors like health care, technology, and industrial stocks. ETFs that focus on a specific asset type or sector carries certain risks. Even if an ETF owns vari

What is meant by bonds in stock market

What is meant by bonds in the stock market? Bonds are a common investment. However, much remains a mystery to many investors. So let's find out what a bond is and how it can benefit your investment portfolio. A bond is simply a loan given by an investor to a company or government. By issuing a bond, a company or government borrows money from investors, who in turn are paid interest on the money lent to them. Companies and governments often issue bonds to fund new projects or ongoing expenses. Some investors use bonds in hopes of preserving the money they hold while generating additional income. Bonds are often viewed as a less risky alternative to stocks and are sometimes used to diversify a portfolio. Consider this example. The city of Fairview wants to build a new baseball stadium, so it decided to issue bonds to raise money. Each bond is a loan for $1,000, which Fairview promises to pay back in 10 years. To make this loan more attractive to investors, Fairview agrees to pay an a

How many types of mutual funds are there in india

  How many types of mutual funds are there in India? Mutual funds are basically an indirect way of investing in the stock market but there are different categories of these mutual funds that cater to the needs of different, different people like some people especially people in their 20s are okay taking more risks to get higher returns. So there's a different category of mutual funds for that some people want moderate risks and moderate returns and some people especially the older ones don't want to take much risk and want returns that are better than the bank FDs so low risk and low returns. So there are different categories of mutual funds for that some want to invest for the long term and some want to invest for the short term so there's an option for overnight funds as well so I'll tell you about different categories of mutual funds.  Now there are basically three categories of mutual funds  Equity funds  Debt funds  Hybrid funds  Equity funds Equity funds are funds

How to invest for retirement at age 60

  How to invest for retirement at age 60? Are people starting to talk to you about all the golfing you’re about to be doing, despite the fact you’ve hardly ever golfed? If so, you may be in your 60s.  Even though you’re close to enjoying golf or any other activity you actually do, it doesn’t mean there isn’t a bit of work left in putting together your finances. After all, you do want your retirement to be as comfortable as possible, right? And planning can help get you there.  The average American plans to retire at age 66. With that in mind, your 60s are a tale of two different lives. Financially speaking, your last few years working full time and your first few years in retirement will likely be handled differently. Let’s start with those years leading up to retirement. First, there are the financial steps that are good for anyone, no matter their age. Starting off, make sure you have an emergency fund with enough cash to cover unexpected costs. This can help you avoid having to raid

How to Identify Stock Trend Changes

How to Identify Stock Trend Changes Technical investors feel that following trends is an important aspect of investing and investors sometimes use complicated formulas to measure trends.  However, there is a way to simplify trend identification that gets to the root of how trends are formed: measuring highs and lows.  In this article, we’ll tell you how to identify trends using highs and lows, how to identify potential changes in trends, and how to use these changes in trends to help protect potential profits.  Uptrends, sideways trends, and downtrends are comprised of sequences of highs and lows. A stock generally doesn’t go straight up or down, but rather moves back and forth and produces support and resistance levels.  An uptrend is defined by the highs and lows forming higher and higher. In other words, each higher low could result in a higher high.  In a sideways trend, the highs and lows are equal. Each equal high should result in an equal low, until the sequence is broken.  And

Good reasons to use credit card instead of cash

Good reasons to use credit card instead of cash Disclaimer  If you are not diligent about paying your credit card bills on time then please do not use a credit card the interest rates on credit cards are significantly high which kind of lose the benefit that you are trying to achieve by using a credit card altogether  I am not recommending that you spend a lot more using a credit card all I'm saying is that if you anyway have to spend your money on something please do use a credit card to actually spend that Whenever you're making any kind of purchase there are many different ways that you can go about it you can pay by cash you can do net banking you can use a debit card or you can use a credit card.  Let's talk about how using a credit card will help to take your money a lot further for expenditure that you are anyway doing. let's also take an example and at the end of it, we accumulate the benefits that you are actually getting from using a credit card. Let's ass

How to use credit cards wisely and make money

How to use credit cards wisely and make money It feels like every time you open the mailbox there's a shiny envelope offering thousands of free miles, zero interest, or bonus cash back just for opening a new credit card. But are any of those rewards actually worth it?  Credit cards can be powerful tools if you use them wisely. You can use credit cards to build credit, pay in a pinch, and, of course, earn rewards. But there's one big caveat: you have to pay your balance in full. Every. Single. Month. That's how you can avoid paying interest, which is what can make credit cards dangerous.  As of November 2021, the average credit card interest rate was more than 17%, so debt can pile up fast when you're carrying a balance month to month.  The smart way to use credit cards is to reap the rewards without paying interest. But with all the rewards out there, how do you choose between cards? And how many credit cards are too many?  It helps to understand the types of rewards ca

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What is Flipkart axis bank credit card

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