AMAZING SUPERSTITIONS REGARDING THE AVAILABILITY OF EDUCATIONAL LOANS IN INDIA

It is said that 80% of the people living in India, belong to younger generation. Educational Loans in India is gaining more momentum and will have more significance in the coming years. However, lot of irrational beliefs, coupled with specific behaviours and thoughts are generated in our brains. This is influenced by culture and tradition, your family background. Furthermore, it also leads people avoiding process of taking the educational loans in India.

Events like the birth of a person, location, marriage is closely associated with the superstitions. In the present world, the people from the west consider themselves to be superior in thinking compared to others. Some of the interesting myths/superstitious created around educational loans are given below as follows:

Cost of Education: The procedure to take up good education in India is considered out of reach of common man. Media creates lot of enthusiasm about increase in the cost of education in India.

People get carried away by this and think before applying for educational loans. However, taking education through college is best form of education one can experience. They do offer financial assistance to people from backward sections of the society.

Private School/Colleges are out of reach: Students willing to go for education consider enrolling in private school/college very costly. Most of the private establishments are strong in offering aid/financial assistance to students from schedule caste/tribe/financially backward families.

Sufficient Financial Aid Not Available: There is a general feeling that sufficient financial aid is not available for students in India. Loans like the low-interest and reasonable interest loans are available in plenty with various banks. With the entry of big corporate houses in assisting students, this illusion can be thrown out of the window.

I Will Not Qualify For Loan Due To Parent’s Huge Income:

It is believed that, if your parents are earning huge salary, then you cannot apply for education loans. Now, many banks, financial institutions in India are lining up to offer the finest educational loans to students in India.

Fear of Failure: Most of the students of the present generation fear of losing their rank and seat in college. They depend on zodiac signs, movement of sun, moon and the stars.

So, you need not worry. One needs to take all relevant documents and submit it to bank to avail a good student loan in India.

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Tips To strengthened your Saving Plan

To be honest with you, spending the money is a very easy task. However, saving the money is a very tough task. You are working hard in a company to deliver the given target for the company. Furthermore, you are getting salary at the end of the month for all your hard work.

Now, the major thing is you must also learn to save your money in a logical fashion. We have got some exciting tips to undertake some cool savings in a systematic and satisfactory manner. They are given below as follows:

Select A Good Bank: You must be judicious in selecting a good bank and open a bank account. Check for the facilities and benefits.

Take Insurance And Pay Annually: One of the best aspects of the finest savings is that select a good insurance plan and make premium payment in an annual manner. This prevents that extra pressure on your salary and helps you to enjoy benefits.

Do Not Spend Money, When You Are Emotional: Various problems can take place, and at this juncture, you must be careful in spending money in a logical manner. During emotions, being upset, you can spend without any control. This can be disastrous at times.

Avoid Usage Of ATM: You must be careful in going to ATM, because you incur the withdrawal fees. Have an effective plan, and withdraw amount accordingly.

Check Bank Statements: Please make sure that you check your bank statements in a regular manner. Understanding how much you have spent, help in managing the finances in a logical manner.

Follow 30 day Rule: You received your salary and wanted to purchase groceries for month. Purchase groceries for the month and then make sure you do not purchase any product. This is a golden rule to save the money.

Spectacular Negotiation Skills: Please make sure that you are negotiating rates well, while making purchase of any goods/services. Go to shops/supermarkets offering good discount on products. Check out the coolest offers and purchase products. Having a coupon booklet can do wonders at this juncture.

So, I would say that above mentioned skills plays a yeoman role in saving lot of money.

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ONE STOP SOLUTION TO ALL MEDICAL PROBLEM----MEDICAL TOURISM

Process of travelling to various nations to get good, affordable and quality treatment is known as the Medical Tourism.

Process of travelling to various nations to get good, affordable and quality treatment is known as the Medical Tourism. The term ‘Medical Tourism’ is also known by various names like health tourism, global healthcare and the medical travels. It is very popular in the western world and getting slowly popular in Asia.

Types Of Medical Tourism:

Medical tourism is gaining very popular in the developing world and the types of medical tourism are as follows:

There are three types of Medical Tourism available in India namely:

Outbound Medical Tourism: Procedure in which patient travel from his/her nation of origin to any other nation is known as Outbound Medical Tourism.

Inbound Medical Tourism: A procedure, where in many patients travel from other nations to a particular nation is known as Inbound Medical Tourism.

Intra-bound Medical Tourism: A unique procedure, where in patients travel from one city to another city within a nation is known as the Intra-bound Medical Tourism. It is also known as Domestic Medical Tourism.

Are You finding difficulty in getting Medical Tourism. 

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Advantages Of Medical Tourism:

Medical Tourism is gaining more importance in the coming years. 

Some of the major advantages of medical tourism are as follows:

Cost of the medical treatment and procedures followed are less costly compared to developed world.

Labour cost is very cheap.

Surgery will be done with top class technology.

Helps in enhancing investment in the medical segment of the respective nations.

Faster and superior access to world class health related services.

You get option of booking the flights, selecting the hospital and the flight schedules from comfort of your home.

The visa rules gets relaxed for the air paramedic.

You can speak English or any other languages as hospitals will have their translators to effective communicate.

Disadvantages Of Medical Tourism:

Some of the negative concepts of the medical tourism are given below as follows:

People from middle/lower middle class and the poor sections cannot afford medical tourism.

Insurance coverage is very limited. So you need to take all things into the account, before having any unnecessary expenses.

It does not cover post operation situations and expenses. At this juncture, patient will have to find accommodation, after getting discharged from hospital. This can be disgusting for the patient.

Cost of travel will shoot up as patient will be accompanied by relatives and friends.

Cost of accommodation, purchasing essential commodities and other bills will increase considerably.

If you want to dispute any legal issues, then it will take longer time, as rules are different in various nations.

Medical Services: 

We offer medical services like:

Dermatology

Endocrinology

Cardiology

Gastroenterology

Neurology

Rehabilitation

Pulmonology

Psychiatry

Oncology

Internal Medicine

Blood Sugar

Parts Transplantation

Surgical Services:

Surgical services consist of: 

Laparoscopic Surgery

Ophthalmology

Urology

Orthopaedics

ENT

Paediatric Surgery

Vascular Surgery

Obstetrics

Gynaecology

Critical Care Services (CCS)

Hospitals are good in offering critical care services like:

Pain Management

Neo Natal Intensive Care

Intensive Care Unit (ICU)

Cardiac Care Unit (CCU)

Emergency Care Services (ECS)

Dental Services: 

Various kinds of dental services are offered like:

Preventive Dentistry

Orthodontics

Prosthodontics

General Dentistry

Periodontics

Implantology

Maxillofacial Surgery

Cosmetic Dentistry

Hence, I would say that changing economic position and technological advancement has improved business for hospitals in particular and medical world in general.

So You Bought Health Insurance?

Your health is your asset. Have you ever thought of covering it. You never know what will happen in very next moment. Life is full of uncertainties. Getting hurt or sick isn’t something a person wants to happen, but unexpected medical events do occur. Having a health insurance plan helps pay for some of those unexpected costs, and provides financial protection against ongoing large medical bills 

Here is some advantages of health insurance 

1. Increase in the incidence of lifestyle-related illnesses

Life expectancy has increased. Thanks to advancement in medicines, the average man is likely to live for around 84 years by 2040. And so has stress due to sedentary lifestyle.

This has also given rise to the early onset of chronic diseases like cancer, lung conditions and stroke, claiming younger lives. Health insurance mitigates the financial risk that may befall a person irrespective of age.

2. Health insurance coverage is more than just hospitalization

Most/Many health insurance plans give coverage for day care procedures and OPD, other than the treatments that involve serious hospitalization. There are also health plans that cover vector borne diseases like dengue.

3. Increase in out-of-pocket expenses

With the healthcare industry in India witnessing double-digit inflation, it is getting extremely expensive to treat common ailments in India. As a result, this has put a dent in an individual’s pocket.

Buying health insurance can double up as your emergency financial fund while preparing you for the troubled times.

4. Your group health cover may not be sufficient

A group health plan may or may not cover all your family members. The sum insured limit in a group plan is also less, which may not be enough to meet all the medical expenses incurred.

And then as you’ll grow older, you might need frequent medical attention. Before that you may not want to put yourself at the risk of being under-insured.

5. Benefits buying health insurance at young

Buying a personal health insurance policy is cost-efficient while one is young and free from medical complications. The premium is lower and the policy offers comprehensive coverage in comparison to a policy purchased at an older age. As an individual grows older, the cost of the cover increases and if one develops health issues, the health insurance company tends to exclude pre-existing conditions which defeat the whole purpose of buying a health insurance. Most health insurance companies have an upper age limit for the policies, which means one would have limited options after retirement. One can enjoy the benefits of cumulative bonus in the form of no claim benefit if they renew the policy without any claims.

6. Tax benefit

The icing on the cake by opting for a personal health insurance policy is the tax benefit. Payments made towards health insurance premiums are eligible for tax deductions under section 80D of the Indian Income Tax Act. Individuals less than 65 years of age can claim a deduction of up to Rs. 15,000 for the health insurance premium paid for themselves, or for their spouse, children or parents. However, it should not be the driving force behind making the decision of taking a personal health insurance policy. The need to improve risk management should be the driving force behind opting for a personal health insurance policy. One should scientifically calculate the amount of health insurance required with the help of a proficient financial advisor and make sure that they are adequately covered.

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Dhirubhai ambani life success story (Mission)

"A dream that never comes true" – Retirement vision.

Wish you could retire right now?

Give up the rat race, embrace a life of independence, reduce your stress, and have more time for what you value most — your family, education, travel? That might seem like a fantasy but early retirement is within reach of most western people, if they would only take the steps to make it happen

Indians have a different mindset from the which is completely different from people in the Western countries

In India, we generally start off earning pretty late, especially the salaried class. Due to huge unemployment,

We need to go on raising the eligibility bar and today a post graduate degree has become bare minimum for good jobs. When we start late, we necessarily reach our goals late.

There are some other socio economic reasons. First, since we do not have Social security cover of any sort, we have to make sure that we save enough for our old age. Normally your Provident fund etc. grows with your number of years in service and terminal benefits are also maximum if you serve a full term. So everyone wants to work till superannuation. This is an economic reason. The socio factor is, by tradition our family bondages are thicker than those in West. Hence we not only wish to save for ourselves but also want to leave a good slice for our children, which is not very heard of in the West. All these accumulations need time and hence early retirement is ruled out.

Early retirement planning is identical to conventional retirement planning with one big exception – time. You have less time to achieve your financial goals, and more time that your money must last after retiring.

Early Retirement Tip #1: Have a Plan :

The first mistake most people make is they lack a written plan to build financial_security.

You can’t put the formula for financial success to work for you without a plan to accomplish it.

It may be a simple process, but it won’t happen randomly. You make it happen by taking action. A written plan with goals provides the road map and is a necessary first step.

Are you planning for early retirement ? Seek advice of a financial planner who will make ease for you .

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MoneyMindz provides Free Financial Advisory, Financial Investment Services, Financial Planning, Certified Financial Planner Assistance, Retirement Planning Advisory, Free Financial Advisors, Online Personal Finance, On-call Investment Management, Best Financial Planner, CFP India, Personal Financial Planning,

Early Retirement Tips #2 : Saving For Future 

The first step to financial independence is figuring out where your money is going now. Monitoring and, if possible, reducing, your current spending has two important benefits: it frees up more money to be put aside in savings, and it reduces the amount you need each year to live on, thus lowering the total amount you need to save.

Rule of thumb is that, before you retire, you should save 25 to 30 times’ your annual spending.

While the 4% rule has come under attack in recent years — many financial experts argue that it’s too optimistic a number given the outlook for lower financial-market returns in the future — early retirees say it worked for them even in years when the markets performed poorly, such as the market downturn in 2009. The key is flexibility; that is, being able to trim costs so that you can withdraw less in years when the market is down.

Early Retirement Tips #3: How to invest?

The most important aspect of investments is “Financial discipline” as most often than not, we may falter and do not adhere to the objective of investment in the long run, it is easier said than done, as many a time we may discontinue, withdraw or utilize the funds earmarked for a specific goal (retirement) for other reasons due to many reasons be it medical emergencies, or changing aspirations or opportunistic investments etc.

There are numerous investment vehicles but to choose the one best suited and customized is once again a difficult task. When you do this, you have to determine the inflation adjusted corpus required at vesting age and the monthly amount of Investment needed to achieve the same.

Early Retirement Tips #4 manage your taxes

Just as when we’re working, taxes are a consideration in retirement, whether you retire early or not. It’s crucial to include an estimate of your annual tax bill in your “total savings needed” amount.

Your tax bill may come in a variety of flavors. If you’re pulling your income out of a taxable brokerage account, you’ll most likely owe capital gains on those distributions.

Layman Guide To financial planning

India First Free Online Financial Advisory Portal, India First Free On-call Financial Advisory Portal, Best Free Financial Advisory Portal 

If there is one reason why some individuals are more successful with their finances it’s because they are acting on the right financial planning tips. And the best financial planning tip out there is – start early before it gets too late.

When it comes to doling out financial planning tips, there is no one bigger than Warren Buffet – the highly regarded investor guru.

When asked in a TV show about ‘the biggest mistake we make when it comes to money’, this is what Warren Buffet had to say:

“Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.”

When it comes to saving there cannot be a bigger mistake than postponing investing. Individuals often underestimate the importance of time in amassing wealth. They assume wrongly that they can always make up for lost time in the future.

So if you are looking for financial planning tips, look no further than these three ideas.

The Sowing stage 

Yes, you are in your mid-20s and have just received your first salary. To start thinking about retirement right now does sound like a bit of a drag. But starting early allows you to save that little bit more and with smaller amounts as well.

The ability to save at this stage is higher as you have little or no responsibilities. So, channelizing a part of your newfound cash flows into a retirement corpus is just ideal. Also, it is a big help at the latter stages when the responsibilities are more.

Accumulation stage

Upon marriage, consider adding term life risk cover policies for income protection. Also, start planning for a house, if you need one. A housing loan at this juncture will be not a burden as expenses are still not so high. Once you have children, expenses are sure to spiral.

Also, this stage is initially marked with marriage and then with children. With children, you will need to start investing towards their education and marriage as well. This is one of the most financially challenging periods in one's life, since demand for expenses as well as need for investment for various goals is at the highest point.

Empty nesters

As you approach 50, the situation could have taken a dramatic turn. The children might have left to complete their higher education elsewhere. And to fund this, you would have started drawing out from their education corpus.

Since investment for children's education goals have ceased, you can use the extra sum to retire any existing loans. Moreover, this an opportune time to take a final call on your retirement plans and other goals post-retirement.

Harvesters

You have retired now. And there are three important things that you need to keep in mind; regular income, capital protection and liquidity.

Accordingly, put a large part of your retirement corpus into fixed income instruments, like senior citizens' savings scheme, bank fixed deposits or fixed maturity plans of mutual funds. If you want an equity exposure, it should be marginal, through monthly income plans or balanced funds.

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