@mohit-chauhan mutual fund investments are a way of investing into the stock markets only
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RE: What are best investment options for salaried person in India?
How Blockchain is changing Finance Industry?
"Blockchain" the underlying technology for cryptocurrency has been the talk of the town recently. Remember the 2017 huge crypto wave i.e. Bitcoin craze that took the financial markets by surprise. Bitcoin is just one use case of this blockchain technology. There are a number of use cases of this globally distributed ledger.
Hence, there's a lot to know about this fast emerging technology.
Here, you shall know about one use case i.e. blockchain and finance. How blockchain is changing the financial industry or is ready for it?
1. Cryptocurrency: This has surely disrupted the financial markets. The use and acceptability of altcoins in some countries has made it even more popular. It is entering the payment system at a much faster pace than it was thought to be. While some other countries have plans to regulate it.
2. Banking system: The global banking system is another area which is significantly getting affected by blockchain. A good example is popular cryptocurrency called "Ripple" that easily connects payments across different networks.
3. Insurance sector & Other Financial institutions: Blockchain technology, a digital revolution that is changing the world and its impact on the financial industry is already seen. A number of global financial companies are actively testing to harness the maximum benefits of this robust blockchain technology.
There are bright chances of spreading the use of blockchain to some mainstream financial utilities.
What is your opinion on blockchain? Do you feel it as the next big thing in the financial industry around you? or Is it still in the nascent stage still to add much more to its features.
Anyways, we can't deny the fact, that this digital transformation is all set to connect users across the globe.
Let's see how fast and how far this can lead to in the coming days.
RE: Hello All, Welcome to FINTRAKK Personal Finance Forum!
FINTRAKK FORUM: IT'S COMPLETELY FREE TO JOIN An initiative to create financial awareness around! Topics explained in a simple language! You are invited to share your queries and ideas on any financial topics.
Basic investment topics as well as a bit complex ones for the common man to understand easily. Keep discussing and be a part of our growing group!
Hello All, Welcome to FINTRAKK Personal Finance Forum!
Welcome to our Fintrakk Discussion Forum
Wish to discuss any personal finance topics? Have any queries in mind on the trending news or emerging matters in the financial world? You are at the right place! Go ahead and start sharing on any hot topics in any of the following categories:
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RE: How to Avoid Debt Trap ?
You have a good salary and if you plan things systematically,you can easily free yourself from this debt trap.
First of all,you should focus on reducing your monthly expenses.Try saving on few major expenses like electricity,car expenses,mobile expenses etc.Even small monthly savings can a make a big difference at the year end.A bit of sacrifice for some time can help you clear off your debts and add to your overall savings.
Set a fixed budget for yourself and track your expenses and increase your savings.Once you get hold of your expenses try reducing them,this way you can easily reduce your debts.
If your loans include any credit card debt, try to clear that on priority.Avoid using credit cards,they add upon your debts anyways.
You are a family person,so you should be focusing on financial security of your family as well.
Besides lowering your debt burden,start planning for your long term objectives also.Plan your investments in proper manner so as to get good returns in the long run.
So,if you plan things wisely, it won’t be a difficult task for you to improve your finances and regain your normal financial situation back.You are already earning a good sum,just a bit of money management is required.Hope this helps ! For any further queries feel free to ask.
RE: Portfolio Plan for Rs 5 Lac Corpus
Let us analyse your queries one by one :
1.Whether you should take a separate health insurance? This depends on what kind of insurance cover your company is providing you.Is it enough to cover any kind of medical expenses? How much cover they are providing ? If the insurance cover by your Co.does not seem adequate,then you should consider taking a separate health insurance plan.
2.Putting some of your money in Fixed deposits and Liquid funds are 2 ways to invest money to meet your short term goals.
You are already investing in PPF,so if you can afford to take some risk,investing in Mutual funds is a good way to grow your money.Seeing the rising inflation,mutual funds can beat inflation in the long run.
Debt funds are safer than equity funds.The kind of investment you make is based on your age,your risk appetite and investment horizon.
ELSS is also good investment option with a minimum lockin period of 3 years.However,based on past data,ELSS normally performs well if money is invested for longer duration.
Hope this clarifies ! For any further queries,feel free to ask.