Pune resident Akash Awasthi started working earlier this year. He has been saving for six months to start investing. He also used this time to do some home work on the basics of investing. But, Awasthi was a little lost when the financial advisoer he approached offered advice different from what he had learnt in the past months.

Tweak your traditional investment strategies 

Business Standard

I have heard a parent can take insurance which will pay for his child's higher studies.

Life Insurance:  Deepak Sood

Equity markets have largely been in the negative since 2008, except for between 2009 and 2010. Various factors, globally and at home, have contributed to the market uncertainty. Things have only turned worse in the past year.

Exit debt not equities, if nearing goal

Today, home buyers are younger than they were before. Most buy their first homes while still in their 20s. And, in no time, many start contemplating a second property, either as a vacation home or to be let out. This is not a new trend, but has been recognised as a growing market in the past few years.

Second property: Gains from tax-breaks

The rupee has fallen 24 per cent against the dollar in the last one year and is hovering around its all-time low. Not just that. The rupee depreciated 17 per cent last year against the Canadian dollar, 16 per cent against the pound, 18 per cent against the Singapore dollar, 6.6 per cent against the euro and 13 per cent against the Australian dollar.

Be judicious while selecting foreign universities

The Customs authorities take charge of imported goods for inspection and payment of Customs duty. Due to lack of space in Customs-bonded warehouses, the authorities enlist the services of other agencies. These agencies act as custodians of the goods under the Customs Act. If any damage occurs to the goods while in their custody, can the custodian be held liable? This was decided on September 17, 2010, by the National Consumer Disputes Redressal Commission (Mysore Sales International versus Chemad Exim and connected appeals).

Importers can complain to recover loss of goods with Customs custodian 

Quite a few tax-free bond issues have come out in the last few months from highly-rated PSUs and are listed on stock exchanges. Since many of these are available at yields of eight per cent, it would make sense for people with income in the highest tax bracket (of 30 per cent) to buy these bonds, since one would have to buy a taxable investment yielding 11.5 per cent to compare with the tax-free returns on these bonds.

Investing:  Rishi Nathany

For a medical insurance claim settlement, a disease cannot be said to be pre-existing unless it has been certified so by a doctor on the basis of tests prior to the purchase of a policy, a consumer forum has held.

For insurance, pre-existing disease only if doc certifies

Press Trust of India

Nothing would make Indian mutual fund players happier than investors returning to their equity schemes. This turned out to be a reality in May, as retail investors pumped Rs 506 crore in fresh investments in equity categories, after four months.

Equity mutual funds get surprise Rs 506-cr fresh investments in May

State Bank of India (SBI), the country&rsquo;s largest lender, has reduced short-term retail term deposit rates by 25 basis points (bps), as liquidity in the system has improved.

SBI cuts retail deposit rates on better liquidity

Over the last two months, Mumbai-based Vishal and Ruchita Desai, has been more careful while shopping for grocery. Vishal says they have started comparing prices of items and picking up the cheapest ones.

Things to do during slowdown

The moral of the classic story by Hans Christian Andersen, The Emperor&rsquo;s New Clothes, reveals how dangerous it is to be vain. There was an emperor who always loved to dress up. He was fooled by two tailors that they would stitch a suit from a fabric which could be seen only by those who were fit for their position. Though the emperor could not see the clothes himself, he pretended so.

Beware of hyped up public issues

Bhubaneswar's Urmimala Aich is a self-confessed shopaholic. The salary from a part-time job of this post-graduation student is not enough to back her long shopping list. So, when a couple of leading banks approached her for a credit card, Aich lapped the opportunity.

Balance transfer may be a fixed period scheme

Bank deposits do not offer the kind of rates other investment avenues like equities, real estate or even gold offer. Still, most Indians are bound to have at least one bank deposit account (mostly it is between 3 and 4). Why? Bank deposits are considered risk-free. Bank deposits give a stable and pre-defined return on the money you invest. The historical average returns from fixed deposits is approximately 8 to 10 per cent for longer terms like 3 and 5 years.

How to choose between bank deposit schemes

Deepak Muthreja, a management consultant donates to non-profit organisations like World Vision and The United Nations Children&rsquo;s Fund (Unicef) regularly. &ldquo;It started as a way of wanting to do something for the society, even if in a small way. And the fact that it helped in saving tax was an added benefit,&rdquo; he says.

Philanthropy: Ensure your money goes to the right hand

The monsoon is dreaded by most vehicle owners. Heavy rains increase the chances for accidents. Even having your car in a parking area won't help as it may be exposed to the risk of water logging.

Have a hassle-free claim this monsoon

Looking at the current levels, most experts are quite confident about equity markets&rsquo; long-term prospects. From here on, most believe, the chances of markets inching up are very high. At worst, the Nifty could go down 100 points from the current level, they say.

Stay away from mid, small caps

Not many with foreign assets are likely to disclose those, say tax experts. And, all the big four tax companies (Deloitte, KPMG, Ernst &amp; Young and PricewaterhouseCoopers) are facing this issue with their clients. Residents with assets outside India are compulsorily required to file income tax returns, irrespective of whether or not they have any income generated in India.

Foreign asset disclosure blues deter taxpayers

I had invested in a fixed deposit for a year, a day before my bank cut its deposit rate on that maturity.

Banking: Prashant Joshi

Indian mutual fund industry has continued to lose its equity investors base in May too. According to the statistics released by the Securities and Exchange Board of India (Sebi), the equity folios (including equity linked saving schemes, ELSS) further shrank by 1.86 lakh in May.

In May, MF industry lost 1.86 lakh equity folios

When retired government employee S Rao sent a cheque for over Rs 2 lakh as stamp duty charges for his daughter who was buying a house, the bank officials first called him over phone to verify the cheque details. For, the amount involved was huge. Then, Rao was told to visit the bank branch personally to verify the signature. Subsequently, he was advised to send the money by RTGS or electronic mode as otherwise it would involve many formalities and thus consume time.

Electronic fund transfers are safe

Personal Finance: Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

Personal Finance: Investing, Planning, Retirement, Loans, & Insurance | Business Standard

Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

Page 981 - Personal Finance