Skip to main content

Why Have a Financial Plan ?

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

 


Needless to say, the question was met with derisive smiles. Listen, I have everything stored here – my income, expenses, everything. Some others scoffed at the idea – A budget for an individual? It must be something the new breed of financial advisors must have invented to con people like us. We next posed the question to some financial advisors: Are people conscious about the need for drawing up a budget for themselves? How many of them don't fumble when it comes to answering your queries when you are drawing up a budget for them. For the uninitiated, most financial advisors draw a budget for their clients to assess the financial position of them. In fact, it is the first step towards drawing up a financial plan for their clients. I have noticed that youngsters tend to take things easy when it comes to budgeting. However, those who are near their retirement or retired, take this exercise very seriously. He also clarifies that probably his clientele may not give the correct picture as they have already taken the conscious decision to have a financial plan. One can't generalise. It is true that the budget remains in the head for most people, but with some assistance most of them can provide all the necessary information that will help us draw up a budget.

 


Advisors are financial planners like them ask their clients for details of their income, expenses, financial commitments, assets, liabilities and so on as the first step towards drawing up a financial plan for the clients. We have to draw up a budget because we want to know the financial position of the person. More importantly, we want a clear idea about their surpluses which will determine their financial plan. Simply put, if you don't have any surplus, you can't possibly plan for the future goals. So the financial planner will turn his gaze on your expenses and liabilities to see whether you can trim them. It is always about focusing on the important goals and sacrificing some of the not-so-important ones. So we make the client understand that they have to take certain steps to rein in their expenses to make provisions for investments.

 


Don't worry. It is not that once you have budgeted a certain amount for expenses for every month, you have to stick to it at all cost. We always give them a small margin so that they can take care of any unforeseen expense without much difficulty. "Even otherwise, we earmark a certain portion of their investment in some liquid investments, like liquid funds or short term fixed deposit, to make sure they can take the money out on short notice. The whole idea behind the exercise is to drive home the point that one should be aware about his/her income and expenditure. This will give a rough idea about your savings, investments and so on. However, the trouble is that even the educated will only have a rough idea how much they will have towards the end in the savings bank account, and that is strictly not enough.


Another crucial point about budgeting. The exercise just doesn't stop after finding out the income and expenses and other financial commitments. The next equally important step is to find out the future goals and make provisions for investments to ensure the goals are reached at specific times.

You can't plan a holiday by just going to the railways station or airport and deciding on the spot where to go. It is the same with financial plan. You should have a clear idea about your income, expenses, assets, liabilities and goals if you want to succeed.

 
 
---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

Popular posts from this blog

SBI Magnum Tax Gain Scheme 1993 Applcation Form

    https://sites.google.com/site/mutualfundapplications/tax-saving-mutual-funds-elss     Investment Details Basics Min Investment (Rs) 500 Subsequent Investment (Rs) 500 Min Withdrawal (Rs) -- Min Balance -- Pricing Method Forward Purchase Cut-off Time (hrs) 15 Redemption Cut-off Time (hrs) 15 Redemption Time (days) -- Lock-in 1095 days Cheque Writing -- Systematic Investment Plan SIP Yes Initial Investment (Rs) -- Additional Investment (Rs) 500 No of Cheques 12 Note Monthly investment of Rs 1000 for 6 months and quarterly investment of Rs 1500 for 4 quarters.
Read more

Birla Sun Life Tax Plan Online

Invest Birla Sun Life Tax Plan Online   An Open-ended Equity Linked Savings Scheme (ELSS) with the objective to achieve long-term growth of capital along with income tax relief for investment.   After a bad patch from 2008 to 2010, Birla Sun Life Tax Plan has made a big comeback in the last five years, with a particularly good run since 2014. The fund's rankings, which had slipped to two stars in 2011-12, recovered sharply to three-four stars in the last three years. The fund has delivered a particularly large outperformance over its benchmark and peers in the last couple of years. The fund's investment strategy focuses on a diversified and high-quality portfolio, with parameters such as capital ratios and balance-sheet strength used to judge quality. It uses a combination of top-down and bottom-up approaches to take sector/stock positions. The fund avoids highly leveraged plays. Staying more or less fully invested at all times, the fund parks roughly half of its portfoli
Read more

Should you Roll Over 1 year Fixed Maturity Plans?

The period between January and March typically sees an uptick in the launch of fixed maturity plans, or FMPs. Not this year. Instead, fund houses are busy rolling over or extending the tenure of their one- year FMPs launched last year to three years. Investors in one- year FMPs have a choice. Either redeem units or roll over to three years. If you exit now, your gains will be added to your income and taxed in line with your individual slab rate of 10, 20 or 30 per cent. If you stay invested for two more years, you pay 20 per cent tax with indexation benefit. Yields have softened in the past few months on expectations of a rate cut. If the central bank continues its soft monetary stance, yields are likely to fall further. In such a scenario, it makes sense for investors, particularly those in the 30 per cent tax bracket, to roll over their investments and lock in at a higher yield now. In a surprise move, the Reserve Bank of India cut repo rate by 25 basis
Read more

Mutual Fund Review: IDFC Premier Equity Fund

  IDFC Premier Equity Fund, which falls under the presumed high risk group of mid- and small-cap schemes, can rely on astute and timely equity picks. These make it less vulnerable to fluctuations compared with others in the category   IDFC Premier Equity Fund is designed to invest in upcoming, but promising businesses available at cheap valuations, and hold on to these businesses until they reap desired returns. The experiment has been successful so far, and IDFC Premier Equity has emerged as one of the top performing mutual fund schemes in the mid- and smallcap category of equity schemes.    While the scheme is an open-ended equity fund, i.e. open for subscriptions throughout the year, it has a unique philosophy to limit fresh inflows. Thus, while an investor can always take the systematic investment plan ( SIP ) route to invest in the scheme throughout the year, inflows through a lumpsum investment have been restricted. Since inception, IDFC Premier Equity has been opened for l
Read more

IDFC Premier Equity Fund dividend

  IDFC Mutual Fund   has announced dividend under the dividend option of   IDFC Premier Equity Fund Direct-D . The quantum of dividend shall be   R 4.3464 per unit.   The record date has been fixed as May 06, 2015. Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara Robeco Equity Tax Saver 8. IDFC Tax Advantage (ELSS) Fund 9. Axis Tax Saver Fund 10. BNP Paribas Long Term Equity Fund You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds Invest in Tax Saver Mutual Funds Online - Invest Online Download Application Forms For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot]
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now