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Money in Savings Account versus Liquid Funds

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Why Banks asks Us for maintaining higher balance in Savings Account…Be Smart, Park your idle money in Debt Mutual Funds instead… Waiting for Markets to correct or parking money in SB for purchasing Iphone in a future date? Not advisable... Psychologically we feel secured by having a larger amount of money parked in our Savings Accounts. But have you ever worked upon mathematically the cost of parking large amount of money in SB Accounts. Your Bank relationship manager will never tell you this, cause it makes loads of free money for Banks. Here’s a small illustration of just maintaining 1 lac average monthly balance in a Saving account. SB Accounts generally provides us with a miser simple saving interest rate of 2.5-3% and some banks provides interest rate up to 4%. On the contrary, if the same money is parked in any of the Liquid Debt Mutual Funds, it may easily get us 7-8%. Illustration shows a difference of 4% SB Interest versus 7% Liquid Funds yield…Surprise to know that we h...
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Increasing Education Costs, Are Parents prepared??? Financially…???

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  Increasing Education Costs, Are Parents prepared??? Financially…??? Still in the age of AI and boom of various innovative jobs/ business prospects, parents have dreams of seeing their wards as Doctors/ Engineers/ Management Grads… This article is not to scare such proud Parents of their brilliant wards, but to make them aware and be prepared of the escalations in education costs for fulfilling their dreams rather than getting destroyed during course of treacherous life of loans and EMIs. I did some googling and found interesting facts about Education Cost Prediction for MBBS, Engineering and MBA courses in India. Predicting education costs for the next 20 years involves considering various factors like inflation, demand for higher education, and institutional expenses. Here's a breakdown of potential costs: MBBS - Current cost:     - Government colleges: ₹10,000 to ₹50,000 per year     - Private colleges: ₹3 lakh to ₹25 lakh per year ...
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Hey Bima Agent, I don’t need Health Insurance

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Hey Bima Agent, I don’t need Health Insurance Thousands of Insurance agents and hundreds of Insurance Companies and Brokers Apps, Websites  shout over the roof top, luring Indians to spend money on Health Insurance every day, every hour and minute on all available media, be it IPL, Radio, OTT, et cetera… I am an Insurance Broker and earn my livelihood selling insurance although its always mentioned, ‘Insurance is subject matter of solicitation’ but is hardly solicited/ asked/ requested by the buyer. All my life I have come across learned people arguing that they don’t need any Insurances, forget about Health Insurance. Do you ask yourself: why do I need to buy a health insurance? I’m healthy, I never fall sick, and I have plenty of money to spend on medical care if needed. Talk to any Bima Agent today and they’ll ask you to buy a health insurance cover for yourself and your loved ones. But you don’t feel the need, right? To make you happier, here are six reasons why you reall...
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Kyon Health Insurance Zaroori Hai?

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  The Questions  Series… Chapter: 3,  Kyon  Health Insurance  Zaroori Hai?   This happens only in Insurance... Our Insurance Salesman says,  ‘Jimmy Jimmy Jimmy….ajaa ajaa ajaa…’ & Our Prospective Client says,  ‘Nahin nahin, abhi nahin….thoda karo intezaaaar….’  And the story continues…. Country of 1.4 billion requires a Pandemic to answer the question, ‘ Kyon  Health Insurance  Zaroori Hai? During the pandemic when all industries registered negative or miniscule growth, Retail Health Insurance sector produced a mammoth 40% growth rate. Thus it proves, when house is on fire, run for water… Government, knowing negligible penetration of Health Insurance, had to intervene and request Insurance companies to launch a special edition of Health Insurance specifically addressing Covid-19 in  avatar  of Corona  Kavach  & Corona  Rakshak. These products eventually had to be withdrawn by ...
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Why Insurance & Investments?

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  The Questions Series… Chapter: 2, Why Insurance & Investments?         Uncomplicate our Lives, Jiyo Zindagi Tension Free   Man is what he possesses. And Leonardo da Vinci once said, ‘He who possesses most be must afraid of losses. Modern trade has been established on the principle of ownership of property. And thus when a property loses value, owner of the property suffers loss . Every living organism lives with risk of such potential loss. Question is, what we do with such risk of having potential loss.? & Answer lies on our own genetic construction to manage such risks. Bold organisms having no choices would retain the risk and sustain losses, Risk averse organisms would try and avoid risks and, Smarter organisms would use their intelligence and use Risk Management techniques of Sharing, Transferring, Loss Prevention or Reduction of Risks In no ways any of the above 5 risk management techniques are good, ...
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