Shriram Wealth Architecture

Create A Budget Calculate your spending and make sure you stay inside your budget. Most of our ongoing expenses can be planned for, and failing to do so is a financial sin. You can properly organise you’re spending with use of a budget, which will also help you stay within your means. Make this budget your line of financial control, one that you must never cross, and include all of your recurrent spending up to the last rupee. Automate Your Investments When it is for your own good, it can be difficult part for your hard-earned money. Due to this, majority of people do not consistently make investments, which are frequently the worst. When you use automation for your investments, you may invest without worrying about anything but periodically checking on your investment. Create An Emergency Fund Many people believe that saving money puts an end to financial management. Saving money is only one aspect of good money management, though. Saving money is obviously the first ste

When you get auto insurance, it acts as a silent defender, stepping in if there is a problem. Most vehicle dealerships typically offer auto insurance at the time of purchase. However, you shouldn't just purchase the first insurance policy you find. Choosing the Best Cover The two types of motor insurance offered are comprehensive and third-party damage insurance. The third-party damage insurance only provides coverage for harm caused to another vehicle, person, or property item. Conversely, a comprehensive policy will cover for both your car and any injuries you could sustain. Just choose your policy wisely for maximum benefits. Declared Value of Your Insured Assets (IDV) The Insured Declared Value (IDV) is the highest amount of money you may get if your automobile is stolen or irreparably destroyed. You shouldn't accept coverage with a lower IDV because in India, the IDV of a car insurance policy corresponds to the current market worth of your vehicle. If you choose a

A serious financial crisis brought on by a large debt load could have a bad impact on your future and that of your family. Here is a list of traps you should stay away from in you to comfortably manage your debt. Consider repayment capacity A personal loan can assist you in escaping a financial crisis, but it can also put you in one. Check your ability to repay the loan before applying for a certain loan amount. Don't take on more debt than you can afford. Before you apply for the loan, use online EMI calculators to estimate the loan amount in accordance with your ability to repay. Approaching too many lenders A question is raised each time you apply for a loan from a lender, and it shows up on your credit report with the date. Your credit score drops with every inquiry. You are deemed to be "credit hungry" when many inquiries are made in a short period of time, which lowers your chances of the banks approving your loan application or may result in a higher intere

A car owner and an insurance company will enter into a contract for automobile insurance under which the owner will pay premiums and the insurance company will pay for any losses or damages to the vehicle. Whether a car is used for personal or business purposes, car insurance is required in India. The majority of insurance companies in India have agreements with automakers and provide automobile owners with rapid quotes. The benefits can be understood from the following points Comprehensive Coverage – A complete plan includes coverage for both the damages your car is responsible for and third-party liability. If you have third-party insurance, you are paid for your financial obligations. Additionally, the plan also covers auto maintenance, saving you from a financial nightmare. Fulfilment of Legal Mandate – Since the Motor Vehicles Act mandates a car insurance policy you get to fulfil the legal mandate with the plan. Add-ons – Additional coverage features might also help to

Finance for events is just as crucial as having the ability to manage debt. When you only take on a tiny amount of debt, managing your debt doesn't seem like a very difficult task. But if we do not keep a strict check on our debt, it will continue to expand as our requirements increase over time. In this case, it is necessary to create a systematic and organised process to manage the debt burden. Follow these seven simple steps to effortlessly manage your debt: How Much Debt You Have: The first step should always be about awareness. When you begin your debt management journey, you should first learn about the various types of debt that can appear on your income statement. This is important since certain debts could have a more negative impact on your balance sheet than others. Understanding your whole debt portfolio is the core of an efficient management plan because not all loans are created equal. Create a list of all of your current debts, including their various categories

Debt management is a way to get your debt under control through financial planning and budgeting. The goal of a debt management plan is to use these strategies to help you lower your current debt and move toward eliminating it. You can create a debt management plan for yourself or go through credit counseling to help you with your plan. Both ways have advantages and disadvantages. Setting up a plan yourself is the simplest way forward, but sometimes it can be helpful to have an outside partner providing help or accountability. Types of Debt Secured Debt Put yourself in the lender's position to better comprehend secured debt. A lender needs to decide whether to provide money to someone every time they request a loan. Creditors can lower their risk by using secured debt. This is true because secured debt—also known as collateralized debt—is backed by an asset. In other words, the loan is "secured" by the collateral. Cash or real estate can be used as collateral. A

Credit cards are small plastic cards that can make life extremely easy. These cards let you make credit-based purchases of products and services that you may repay off at the end of the month. You have the option to pay monthly minimum payments or making full repayments of the credit you have taken from your credit card company. Various Types of Credit Card in India Fuel Credit Cards Every time a cardholder purchases fuel, their fuel credit card offers benefits. By offering reward offers and exemptions of fuel charges, this card assists clients in saving cash when refuelling the vehicles. While purchasing fuel at specific petrol pumps around India, some banks also offer accelerated loyalty points. Refueling can be purchased with the earned reward points for a predetermined amount. The activation bonus, entertainment bonuses, food, hotel, and fitness offerings, among other features, are additional benefits. Travel Credit Cards Travel credit cards are popular because of the numerous trav

A credit card is a type of payment method that is distributed by both banks and non-banking financial institutions. It allows you to make purchases from both online and brick-and-mortar shops and then pay for them later. This defines the meaning of a credit card. Every credit card has a pre-set credit limit. Once you've used up all of your credit card limit, you won't be allowed to make any more purchases with the card until you've paid back what you've spent. Your credit score, credit history, and income are just a few of the many factors the issuer considers when deciding the credit limit for your credit card. Your credit card company will also send you a credit card statement each month, which will include information about your transactions, the amount you must pay, and the payment due date. It's crucial to pay the balance due on the statement on or before the time. If you do not pay your credit card bills on time, you will be charged interest on the unpaid

Credit cards are available in a number of types from all banks and financial institutions. They are considered as a form of payment at every business that provides you with services or products. Credit cards can be utilized to pay for a variety of expenses, including food, clothing and accessories, movies, online shopping, home appliances, utility and phone bills, and much more. The credit card information consists of the card number, name of a cardholder, expiration date, signature, and CVC code, among other things. A credit card's best feature is that it is not linked to a bank account. Therefore, instead of taking money from your bank account when you swipe your credit card, your credit card limit is utilized. Credit Card Features EMI Payments High-end goods can be purchased with credit cards at affordable EMI rates . Depending on the bank, these may be repaid over a flexible period of 3 to 6 months. Easy Approval Both offline and online credit card applications are