Budget 2023: From income tax slabs and ULIPs to women-specific saving schemes; here are 9 key points you must know

Budget 2023 has seen multiple positive changes for the common man in India, such as a new tax regime with lower effective tax rates, increase in exemption on leave encashment for private-sector salaried employees and higher investment limit for senior citizens. 

Life Insurance: Is it better to have more than one policy?

It is perfectly fine to have multiple life insurance policies in India, however it is important to make all relevant disclosures when purchasing a life insurance policy, to avoid any issues with claims.

Cleared home loan? Here’s what you should do with EMI money

Since your home loan is done and dusted, what next should you do with the money that is freed up because there are no EMIs to pay now? Read further to know 

Budget 2023: Does it really matter for your personal financial planning decisions?

It does matter to an extent as many announcements about taxation and investment schemes do impact how your income, capital gains, etc. would be taxed. However, managing personal finances is a lot more than just about taxes.

Why should investors aim for moderate returns and take low-risk bets?

Instead of focusing on taking higher risks to get potentially higher returns, it’s better to invest a bit more with lower return expectations.

Don’t have enough to save fully for all goals? Here’s how to handle this situation

If you earn high enough to invest properly for all of these goals, then there is nothing like it. But what to do when the surplus from income is not enough for all the goals? You may plan on switching jobs to earn more and try to cut your expenses. But both these are easier said than done.

NPS: How to decide between auto and active choices

Savings

If you have a good enough understanding of various assets, risk-return tradeoffs and have the time to manage your financial asset allocation, then you can opt for active choice. But if you are unable to do so and don’t want to get into asset allocation, rebalancing, etc. every year, then its best to go for the auto choice.

Passive and active funds: Is there a place for both in your equity portfolio?

While proponents of both active and passive will have their arguments to attract investors, I think it is better to have an allocation to both in the equity funds portfolio. Read further to know more 

Should you use debt funds as alternatives to fixed deposits? We explain

Debt funds are not substitutes for fixed deposits fully. But they can be possible alternatives. Let’s compare the debt funds and fixed deposits from different angles.

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