Reasons Why Credit Card Application Gets Rejected: #3 Age restriction
Sunday, May 13, 2018, 9:21 PM
Usually, banks do not issue credit cards to minors and senior citizens. Your credit card application will be accepted only if you are between 18-65 years of age. Banks do not issue credit cards to minors and senior citizens, because they think that they do not have the necessary income to avail a credit card.
Reasons Why Credit Card Application Gets Rejected: #2 Low credit score
Sunday, May 13, 2018, 9:19 PM
Your credit card application will be rejected by the bank, if you have a bad credit score. The credit score is one of the important factors that are considered for issuing a credit card. Every month the bank sends details of your repayment history of the loans you have availed, to CIBIL.
Reasons Why Credit Card Application Gets Rejected: #1 Low Income
Sunday, May 13, 2018, 9:15 PM
Your credit card application will be rejected, if you do not meet the income eligibility criteria. For banks to issue a credit card, you must have a minimum income of Rs 15,000 to 17,000 a month. This is done because banks think that you would struggle to repay your credit card dues if your income is low.
Why should married men apply for life insurance under MWP Act?
Saturday, May 12, 2018, 11:18 AM
Married Women's Property Act was incorporated to protect the property owned by women, from creditors and relatives. The Married Women's Property Act, makes sure that the insurance claim goes only to your wife and children, and not to anyone else. This act provides security to a woman's property from her husbands creditors, the tax department, and so on.
How to write a will?
Saturday, April 28, 2018, 3:50 PM
Though the lawyers gives you sound-advice on writing a will, it is not compulsory to hire a lawyer to write a will. If you write a will on a piece of paper and get it signed by a couple of people who are witnesses, then the will is valid in India. Now there are many Do-it-yourself platforms, where you can write a will online.
Benefits of making a nomination for a mutual fund
Saturday, April 28, 2018, 2:37 PM
If a nomination is made for mutual fund, the funds can be easily transferred to the nominee. If something happens to the investor and the nomination is not made, it will be difficult for heirs to claim the mutual fund investment. They have to submit documents such as WILL and NOC from other heirs to get the mutual fund investments transferred to their name.
What is a nomination in mutual funds?
Saturday, April 28, 2018, 2:35 PM
A nomination is a process of appointing a person called the nominee to take care of your assets, in case something happens to you (The Unit holder). It is compulsory to appoint a nominee for the mutual fund schemes you hold. If you have mutual funds in the demat account, you must appoint a nominee for this account.
What happens if the owner dies without making a will?
Saturday, April 28, 2018, 2:32 PM
If the owner of the property dies without making a will, the legal heirs would struggle to claim their rightful assets. They have to prove in court that they are the real owners of the property, left behind by the person who has passed away. If the deceased has not made a will, there are chances of unnecessary misunderstandings between the legal heirs.
What is will?
Saturday, April 28, 2018, 2:31 PM
Will is a legal document which specifies who is entitled to receive the property, after the death of the owner of the property. The person who has written the will is called the Testator. Testator has to appoint the executor to manage the estate and execute the wishes stated in the will after his demise.
Why paying minimum balance on credit card is a bad idea?
Saturday, April 28, 2018, 2:28 PM
Many people in order to escape from the late payment charges, simply pay the minimum amount due. This is the minimum amount you have to pay by the due-date. This will be 3% of the amount you have to repay. But, paying the minimum amount due on the credit card, does not save you from paying interest on the outstanding-balance on your credit card.
What is Cancelled Cheque?
Saturday, April 28, 2018, 2:24 PM
A cancelled cheque is a cheque that is crossed and the word "cancelled" is written across. Other than this nothing else will be written on the cheque. A cancelled cheque is proof that you have an account with the bank. The cancelled cheque is used to give other information such as account number, cheque number and MICR code to whosoever is concerned.
#5. Cars Are Consumer Goods
Tuesday, April 17, 2018, 2:00 PM
Walmart billionaire Jim Walton drives a 15-year old pickup truck. Don't waste time on the idea that a car is a status symbol. Sure, if you're a car-aficionado, there's nothing wrong with restoring or buying that sweet ride you've dreamed about, if you can afford to. But for most people, including rich-people, getting from Point-A to Point-B in safety and reasonable comfort is sufficient.
#4. Walking and Taking Public Transport Is Nothing to Be Ashamed Of
Tuesday, April 17, 2018, 1:58 PM
John Caudwell, David Cheriton, and Chuck Feeney are billionaires you probably haven't heard of, but all three of them walk, ride bikes, or use public transport for the daily commute. It's easy on the bank account, and better for the environment. If these guys aren't ashamed of taking the bus, you shouldn't be either.
#3. You Don't Have to Game the System
Tuesday, April 17, 2018, 1:56 PM
Billionaire Warren-Buffett lives in Omaha, and he made his investment fortune simply on the fundamentals: focusing on companies with strong annual cash-flow, and choosing companies that aren't at risk of technical-obsolescence. Buffett spent the early part of his career investing in insurance companies. It's not sexy, but it obviously worked. Whether you have Rs-5000 to invest or Rs-50,000 sticking with the fundamentals is smart.
#2. Find Your Passion
Tuesday, April 17, 2018, 1:53 PM
Your bank account may be empty, but believing in yourself at the most fundamental-level, costs nothing. While following your passion, "You become what you believe. You are where you are today in your life, based on everything you believe." Change is possible whatever your situation and the first-step is believing in yourself. Choose a hobby which you like and put effort into it to find your passion.