Moneymantra

  On 15th August,2020 our honourable prime minister, Sri Narendra Modi has announced on Saturday about the launch of NDHM  during the Independence Day speech.  Under the mission, every Indian will get a new Aadhar-like health ID that will store the individual's medical records, including doctor visits, diseases, the line of treatment and drugs taken. The scheme will map every citizen's health with a unique ID. While delivering the Independence Day Speech from the Red Fort, prime minister Narendra Modi on Saturday has launched  National Digital Health Mission. And this new scheme will be coming under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana. He delivered on his speech," from today, a big campaign is being launched in which technology will play a big role. The National Digital Health Mission is being launched today. This will bring a revolution in India's health sector and it will help to reduce problems in getting treatment with the help of technology." He ...

  As we all know, Amazon is one the most popular online business site. So, how does Amazon makes money? Does this question strikes in your mind? What is their strategy? Let's see it-   Amazon makes money through its retail, subscriptions, and web services, among other channels. Retail remains Amazon's primary source of revenue, with online and physical stores accounting for the biggest share.  If we Amazon's worth than its market value is at present $427 million. That means the current value of $1 in Indian currency is Rs.74.85 than obviously it's business is how large you can figure it out yourself. Amazon makes money in millions.  As Amazon's main head quarter is at US than let's see what's the market value of US's traditional retailers market:- • Sears: $1.2 billion •JC Penney: $1.8 billion •Kohl’s: $6.8 billion •Nordstrom: $7.4 billion •Macy’s: $8.9 billion •Best Buy: $14.9 billion •Target: $29.4 billion •Wal-Mart: $221.1 billion      Combined: $29...

Which is the best place to open demat and trading account? But before that lets us know what is demat and trading account. A Demat Account holds all the investments an individual makes in shares, government securities, exchange-traded funds, bonds and mutual funds in one place. In short, a demat account is the repository where the digital copies of your stocks can be stored and managed.  There are 3 main types of demat account -  •Regular Demat Account: A regular demat account used by investors residing in India. •Repatriable Demat Account: A demat account used by NRIs under which funds can be transferred abroad.  •Non-Repatriable Demat Account.A demat account used by NRIs under which funds cannot be transferred abroad.  Much like a Demat account, a trading account is also vital for investing in the share market. Trading account helps you electronically to buy and sell shares or other securities in the stock market.  A trading account can be any investment accou...

  How to save money fast and invest? We all want to make a good control over our money. Isn't it?  Well we all have heard this a several times  to reduce our debt. And we all are totally on board with this plan. But starting with this, we need a starter emergency fund.  Now, starting with saving money by managing it well.  1. Start budgeting . We need to recognise and know our own budget. Without budget we often just spend our money carelessly. And after spending it, we think where our all money have went to.  But with budget, you give every pound of money a name. Sounds crazy, right! Giving name to money. Yes, it is but this is the best way. The first name should be your a minimal amount say Rs.10000 an emergency fund. You have to decide how much money you can save every month and have to do this first. Then assign your rest of the money where to go . Saving money by cutting your spending. 2. Drop unnecessary entertainment, shopping, going to restaurants f...

  Everyone wants to grow their money. But before getting started the question arises as ' how to'  or say the basic question is ' what is to be rich about?' Just buying a Mercedes or BMW and driving it or ending up eating on 5star restaurants. Well this are all icing on the cake. To be really rich one must know to how to accumulate enough money and secure the future. The money should be invested of course in a long term perspective.  So, what are the ways of growing money. The ways are:-  1. Saying no to debt. 2. Keep a consistency on your investment. 3. Don't put all your eggs,in one basket. 4. As the priority changes, investment must be switched. 5. Start early. 6. Invest smartly. 7. Fear must be put aside  8. Get an expert to advice you about how to grow your money. 1. Saying no debt .  For many people, debt is like marsh. They will take more debt to get out of their present debts and in this process instead of coming out of the problem they fall more d...

  Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest. Compound interest is standard in finance and economics. This is the explanation given in internet. Now, let us understand it more deeply. Compound interest has both principal amount and interest for an year earned interest in the next period. The value of money here is the foundation of the compound interest. More than one compounding period in a year can be there.  Compounding is the process in the overall value of an investment will rise as the interest on the investment and with each passing day it's principal interest earned will be rising. With the help of compounding interest one can witness the increase in the overall value of their investment. Let's take an exampl...

  To survive and live a happy life we need money. Not even a single person in world is there who is not greedy about earning, as it is the only thing to survive. And in today's world everyone is earning money online. I'm pretty sure you've come across someone who earns money through internet and you might have thought, it’s easy peasy money. You can make it too. But either you got trapped in an online scam or failed. Have you ever wondered why? It's just because you did not knew where to look at and where to start from. If you're an employee, student or any business man everyone wants to earn more and more money. There are two types of income :- • Active income • Source of income/ passive income Active income is the income where you get money when you work. For example, when a doctor visits his clinic then he earns money  or whenever he is on duty he'll receive his income only when he provides service. And passive income is the income where you do the work befor...

  Warren buffet, one of the most richest person on the earth. Do you know the investing rules of warren buffet. Today we will discuss 7 rules and business ideas of warren buffet. Yes you need some luck to be rich but without any smart work you never going to be rich.  Follow your passion :- we always run after our monthly salary. We never think what is our passion. Suppose if you have lot of money after your retirement what will you want to do. Just think what drives you in your life. If you want to be rich just follow one rule, find your passion and work on yourself. Just think, billion of people are doing their 9-5 job and after finishing their job they waste their time on entertainment and they remain middle class in entire life.  Reading habit :- if you see the most successful people on the earth like warren buffet, bill gates, steve jobs, elon musk, CEO of giant companies then you will find one common thing that is reading habit. They read atleast 5 hours a day. And ...

 PPF It is a common term used for saving money . Now, what is this PPF. PPF i.e, public provident fund introduced by government. Public provident fund is a scheme , a popular long term  investment option backed by the government of India . And where it is introduced by the government , it automatically becomes risk free . PPF is fully guaranteed scheme by the government. PPF gives an agreeable rate of interest and returns on investments. PPF has a tenure of 15 years which, however, can be extended by 5 years on application by the subscriber whereas partial withdrawal is also allowed in some cases. PPF has many benefits in terms of interest rates, safety and relaxation. Now, what are its benefits:- * PPF interest rates benefits. The rate of interest in PPF is revised every quarter by the government of India .The PPF interest rate has historically been around 7.6% to 8%. It tends to move slightly higher or lower depending on the overall economic scenarios. Period    ...

 In today's world online ordering of food has become necessity. So, the question arises how does this online food delivery services earn money. The most common online food delivery service is known to us are Zomato and swiggy . So, let's see what's their pattern of earning. While we order food, we pay the delivery fee, Zomato  earns through restaurant who pays commission for each delivery.Now, speaking about Zomato,it is an Indian restaurant aggregator and food delivery start-up founded by Deepinder Goyal and Pankaj Chaddah in 2008.To make it more clear let us understand their business technique. They follow 3 business techniques -  1. Food delivery service 2. Advertising service 3. Business consultancy services 1. In food delivery service if you ask the owner of a restaurant that what is more profitable, to make the costumer make sit in the restaurant or delivering the food to their location. Well, the owner will say food delivery service because when customers sit and e...

Financial planning must be started as early as possible. Beginners can follow 50-30-20 rule of money to become rich. In this article we will understand how much money you can spend in your basic needs and wants and how much money you should save or invest.  50-30-20 rule of money.  Basic rule is whatever is your monthly salary you should follow 50-30-20 rule of money. Let's see  50% of your salary  you should spend in your basic needs like rent/home loan EMI, transportation,bills,food, internet etc. And try to limit your expenses. Then 30% of your salary should spend in wants. You should know the difference between needs and wants. Wants is not your basic necessity. For example instead of car you can use public transport, branded clothes, expensive watches, new gadgets etc. So these are your wants and wishes.  Last 20% of your salary definitely go for savings and investment. You should save some money in bank because of medical emergency or some other emergency ...

  National pension system. In the name it is clear that it a retirement scheme and is an essential aspect to take care of financial planning at retirement phase. It is an initiative undertaken by the government of India, the NPS provides  the retirement benefits to all the sectors even it's unorganised. NPS introduced in 2004 by government of India. It is a voluntary  retirement system for Indian citizen between 18 to 65 years. It is regulated by Pension Fund Regulatory and development Authority. In NPS fund managers also played a huge role. Fund managers are:-  Aditya birla fund manager SBI fund manager LIC fund manager HDFC fund manager UTI fund manager Kotak Mahindra fund manager ICICI Prudential fund manager And they are approved by Government of India. Now the question is where does your money get invested? Your money will invest in four asset class:- 1. Equity 2. Govt bonds  3. Corporate bonds  4. Alternative investment You can decide your asset alloc...

 UPI or Unified Payment Interface can be used via BHIM, paytm, phone pe,Google pay and other payment transfer apps. So we will discuss benefits for UPI and why it is better than other payment methods like cash,cheques,digital wallet,debit card etc. Digital wallet offers quick transaction facility and same facility provided by UPI also. UPI also offers online banking facilities also which makes it best among all. Nowadays UPI system is offered by all major banks. And it will help India to become a cashless economy. So now we will see what is UPI, how it is better than other payment apps and 10 major benefits of using UPI. UPI was launched by NPCI (National Payment Corporation of India) in 2016 it is fully regulated by RBI. It work as a inter bank transaction. So money can be transferred from one account to another immediately. It is an instant real time money transfer system.  So BHIM app which works under UPI has maximum transfer limit of 40 thousand and per transaction limit ...

  Gold in the form of jewellery is not only adorned but also works as a tool to tide over financial emergencies in Indian households. Gold is considered as a form of antique piece which is also passed from generation to generation. And in today's world investment on gold has also become reliable and you can also opt for this as the best option. There are two ways of owing gold- physical and paper. In physical form you can buy it in say gold coins ,in the form of jewellery etc. And in paper form you can use it as ETFs or sovereign form. Then there are also gold mutual funds which invests in the international gold mining companies. Investing in gold can be in many forms-  Buying the metal itself (jewellery, gold coins,gold biscuits) Gold bullion for individuals take the form of gold bar or coins Gold mutual funds and exchange traded funds that invest in the precious min minmight trade gold in future options. Pros of investing in gold- 1.  Gold is quality hedge against a dow...

  Everyone has a dream to live in his own house. Most of us have a dream to own a house. So government Introduced a scheme for everyone that is PRADHAN MANTRI AWAS YOJNA .  Let's see what are the terms and conditions:-  Your age should be between 18 to 55 years.   Your family,including you,your wife ,children must be below 18 years can not have their own house.    Most important thing in this scheme is if you want to purchase new house or want to build your own house or you want to rebuild your house you can use this scheme.  Your maximum loan tenure is 20 years. Now most important question how much money you can take?  There is no limit of your loan. But the limit is you can take subsidy upto 2 lakh 65 thousand it depends on category to category.   So There are 3 categories. Let's see you fall into which category :-   Economically weaker section :- If your household income is below 3 lakh then you fall into this category. So government ...

  Before investing into mutual fund some points you should know :- You first understand your risk taking capacity,how much risk you can take according to your risk profile. What is your age or do you have children or you are on your 20's.    Compare funds based on their performance and asset allocation. And where they invest their money.    You must see your funds reputation in the market like who is the fund manager and his experience in the industry.    Diversify your investment in different asset class to ensure best result from your portfolio. Mutual funds can be divided into 4 major categories: - Bluechip funds:- These funds invest your money to large companies like reliance industries,HDFC, ITC etc. There is little risk in bluechip funds as they invest your money big giant companies. You can expect 12% return from them. If you don't want to take any risk so it can be best for your portfolio. Investment horizon must be 5 years or above. Multicap f...

We all know that proper financial planning is needed to achieve our financial goals. You must know after 10 or 20 years how much money you need. So you must prepare you savings and investment plan now to meet your long term financial goals. Most of the people don't have any financial planning as they think it is very complicated and they leave it,and let it happen the way it's happening. Just saving money in bank account and taking insurance plans does not help you meet your financial goals,infact this is the main reason you lose lots of wealth creation opportunities. So I will help you to take your financial decision so that you don't need to be worried about your future goals just in 5 easy financial planning method. It is so easy that it will take your only few minutes. Before starting about the financial planning my focus is to make it simple and effective for you.          Savings :- you must follow one thumb rule, that your monthly family expenses for 6 m...