Finance

Are you studying in high school or college? Odds are you get at least a few thousand rupees as pocket money each month. Did you know that even if you invest a trifling part of this trivial pocket money, you can easily become a crorepati? Sounds exciting, no? Let us understand how you can become wealthy through your pocket money. To become super-rich or crorepati, you just need to have two things - namely time and money.Time Even though your pocket money might not be sufficient, you have time on your side. Hence, the magic of compounding is guaranteed to work in your favor. As a young person who can easily afford to stay invested in mutual funds for a prolonged duration, you can easily accumulate massive wealth over the years.Money To become a crorepati, you do not require chunks...

AI in finance is certainly making things a lot more safe and convenient for banks and other financial institutions as well as their customers. Artificial intelligence is already helping the financial industry to optimise their processes and streamline services. In short, AI is transforming the way in which we interact with money.Artificial intelligence can help with a range of processes from financial risk management, to credit decisions and chatbot assistants. In this article we will take a look at some of main applications of AI in financial institutions and in predicting stock fluctuations. Customer Service Chatbots and Virtual Assistants Banks and other financial institutions have found that the use of chatbots for enhancing the customer service experience proved to be highly suc...

Retirement planning is a vital aspect for any investor. When it comes to retirement, investors are often confused between the two popular investment options – NPS and mutual funds. This article will serve as an investment guide in helping you choose the right security for your investment portfolio.What is NPS? National Pension Scheme or NPS is backed by the government of India. This pension scheme is open to all employees in public, private, and even unorganised sectors, except for the individuals in the armed forces. It allows subscribers to invest and claim tax deductions under Section 80CCD(1). NPS encourages individuals to invest in a pension account at regular intervals during their employment period.What is a mutual fund? It is an investment vehicle wherein an AMC pools the...

Some people associate their financial challenges with them not having enough money. For many others, their challenge comes from them not spending money wisely or from spending more money than they have, which means they constantly live in debt.Being more aware of your financial situation can pay off. It can help you manage your expenses better such that you will pay your bills and have money left over to save.It might seem like a hard task but that’s probably because you haven’t taken the time to get more involved with how you use your money. Below is a list of 5 money management tips that can help you get your financial standing in order. 1. Use the MyCare Plan A good idea that will help you plan for the future better is to take up the MyCare Plan from Financial Education Servic...

What is Forex? Forex is the blend of Foreign Currency and Exchange. So, Forex is the active change in one country’s currency to another’s for tourism, commerce, and trading. Forex markets: Forex markets provide currencies trading as it is very important because currencies need to be exchanged to perform international trade. If a person is living in the USA and wants to buy something from Germany, he/she has to pay Germany in Euros. This means that US importer would have to interchange the equal value of USD into Euros. The same is with traveling. A French tourist can’t pay in Euros to see the pyramids in Egypt because it’s not the local currency of Egypt. What is the Forex signal? A Forex signal is by definition a trade idea or for a given financial asset, to be executed at a predeter...

The rise of the internet has revolutionized many industries; however, few have been affectedby the changes as much as the trading and investment space.Gone are the days of trading being limited to an established elite of bankers, brokers, and other financial professionals. Now, no matter who you are or where you are from, a simple Google search grants you instant access to hundreds, if not thousands, of online brokerages.But with the rise of online brokers, we are also faced with an issue we couldn’t have foreseen a few decades ago: we are now spoiled for choice!The biggest issue would-be traders now face is not how to get started, but who to choose! In this context, it has become increasingly important to find unbiased reviews you can use to help you make a decision.But exactl...

The heat of the economy growing strongly, is quite favorable conditions for the economic profession as financial analysis of development. The financial analysts are spending a lot of choice in recent times, the profession itself also in the “top” of the profession attractive. Opportunity to be successful with this career is not really difficult if you have a choice for themselves.Fa provides what? FA is any individual work. This profession of social mobilization of significant human resources, it has the potential not only in the present but also strong growth in the future. Those involved in financial analysis will ensure a promising future career. This is something that anyone wants to progress and achieve. FA will also give you attractive level of income, ability to respond to you...

Do you need money in your life? Why do you need to have money in your life? Well, if everyone is asked this kind of questions, they will say that they need money in their life since it will influence our life. This kind of statement is true. We need the money in our daily life to complete our daily needs. If we do not have money in our life, we will find difficulty in our life. You cannot complete the primary needs or any kinds of needs that you have to complete in your daily life. Of course, you do not want to find the difficulty in your life, right? Well, if you want to have the best money solution for your life, you need to make sure that you can choose the best way for getting the money in your life. One of the common ways to choose is by choosing the right job based on our own passio...

With the deteriorating financial climate it is wise to be prepared for any eventuality, whether it is inflation or an economic collapse leading to hyperinflation. Inflation is the most damaging factor affecting the modern financial society. Having a nest egg that is external to the banking system is a good way to be prepared for the worsening financial crisis. There are many ways in which you can create one which won’t be affected by Dollar depreciation or government intervention. One of the best ways to hold assets is in the form of gold or other precious gemstones. Gold and silver are a form of currency which will survive inflation and hyperinflation. When the Dollar is devalued to the extent that it is worthless gold and silver will still have purchasing power. As the value of the Dol...

Banking and financial services are very important for any country. The banks provide the credits to the people. People can deposit their money or they can borrow the money from the bank. The banking services can be of many types and they can provide the various services like credit, debit, loan and other financial services. The banks have several types and they provide the financial services according to their type and capacity. The banks can be of the following types:Reserve bank: reserve bank is the central banking service of India. This is the supreme monetary authority of India. Reserve bank holds on the financial condition of India. All the currency of country comes under the reserve bank of India. In common words, the reserve bank are the base of country’s commerce and fina...