Can't keep your expenses in check? Here are 8 ways you can make the most of less money

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WEALTH NEWSLETTER Tue, Jul 21, 2020 | 08:30 AM IST

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Can't keep your expenses in check? Here are 8 ways you can make the most of less money Many feel that the money they are saving by not having to go to work or dining out can be channelled towards other expenses. However, this may not be the right approach. In these uncertain times, keeping your expenses in check will help you over the long term. Men are from Mars: 7 money mistakes that men make It is not just the women who make mistakes when it comes to money-related matters, even men have certain habits and attitudes that lead to making mistakes. Let's see this as a light-hearted attempt at listing men's frailty with money. Podcast: Should you get a coronavirus-specific insurance cover? Amit Chhabra of Policybazaar.com gives us the low-down on the coronavirus-specific insurance plans: Covid Kavach and Covid Rakshak. He talks about the difference between the covers, costs and who should get it. Host: Tania Jaleel, Producer: Paramveer Singh How much premium will you pay for indemnity-type Covid Kavach health insurance? Covid Kavach is an indemnity plan that is available for individuals and families and will offer sum insured of up to Rs 5 lakh for hospitalisation expenses related to Covid-19. Here are some insurers' premium rates for a 35-year-old man for a Rs 5 lakh plan. From our Partners Conducting university level exams was never this easy Tool for online semester exams without connection issues From our Partners Flexible working solutions to make you future ready Remote working solutions to enhance productivity How to exit mutual fund investments Investors can choose different modes to exit their investment in mutual funds. This can be in the form of actual redemption to switch out or systematic withdrawal plan (which can be done by signing up for a systematic transfer plan). To upgrade from chauffeur knowledge to Planck knowledge, learn from others' investing experience When we start investing, we observe what is happening around us and learn to imitate some of it. It works for a while but sooner or later, reality catches up. There is no substitute for real experience. Learning from others' knowledge and experience is worth the effort. Top Mutual Funds SCHEME NAME RATING 3 YRS(%) 1 YR(%) 6 M(%) 1 M(%) Axis Bluechip Fund Direct Plan-Growth ★★★★★ 11.06 5.42 -5.73 6.54 Invest Now Axis Bluechip Fund-Growth ★★★★★ 9.60 4.14 -6.35 6.44 Invest Now Canara Robeco Bluechip Equity Fund Direct-Growth ★★★★★ 9.06 9.25 -2.70 7.39 Invest Now Canara Robeco Bluechip Equity Fund Regular-Growth ★★★★★ 7.73 7.76 -3.41 7.24 Invest Now HDFC Index Sensex Fund-Growth ★★★★★ 6.07 -2.01 -9.65 8.10 Invest Now FeaturedL&T Balanced Advantage Fund Direct-Growth ★★★★★ 7.24 8.82 2.83 4.16 Start SIP It pays to file your income tax returns on time; take these steps to do so Be fully prepared with all the information about your income and investments to file your tax returns before the new November deadline. Account for and pay taxes that may be due on certain transactions and investments. Eight behavioural skills of successful investors you should follow Successful investors not only know how to create wealth, but also how to protect it. They cover all risks and make sure that their wealth is not eroded by inflation, market risks, ill-health or death. Here are eight habits to emulate.

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Adult kid's emotional traps that can harm your financial planning For career success, complement writing skills with this secret sauce Simple steps to save more, spend less Importance of credit score and how you can check, improve it More Slideshows

Financial Calculators Old or new tax slab regime? Use this calculator to find out This tax calculator will help you estimate your tax liability. Just input your personal income details and know how much you would be liable to pay. New LTCG tax calculator: Plan, compute your tax Use this tool to calculate long-term capital gains (LTCG) and the corresponding LTCG tax for listed shares and units of equity-oriented mutual funds.

Stock pick of the week: NMDC is a favourite of analysts, but be mindful of these event based risks With the global economy opening up, steel and iron ore demand is set to increase. Since NMDC is the eighth largest iron ore producer and also one of the lowest cost iron ore producers in the world, it is expected to gain significantly from this global price jump. Aditya Birla Sun Life Tax Relief 96 fund review: Consistent record of beating its benchmark The fund fared poorly last year but has negotiated the recent market downside well, falling much lesser than its peers. Its longer term track record suggests a fair degree of consistency in delivering alpha, making it a worthy offering in this space. Realty hot spot series: A prominent residential area in Delhi with affordable properties Uttam Nagar is located in the South-West part of New Delhi. The locality offers affordable properties in the low and mid-segment. Key social infrastructure such as Adarsh Public School, Mahindru Hospital etc. are nearby. The area also offers easy access to job hubs across NCR. Low interest rate will be an important lever for recovery: Neelesh Surana, Mirae Asset India The interest rate impacts equity markets in three ways- it helps improve demand in rate-sensitive sectors (post lockdown), helps improve cash flows and the price to earnings ratio multiples are also a function of interest rates, says CIO, Mirae Asset Investment Managers India. Know your tax liability from segregated debt mutual fund portfolio payouts There are two things to be figured out: the cost of acquisition of units in the segregated portfolio and the holding period of the units in the segregated portfolio. Any amount recovered from the segregated portfolio will be considered as capital gain for income tax purposes. What is a multi-asset allocation mutual fund? Multi asset allocation funds are marketed as a one-stop solution to investors looking to have a diversified and balanced portfolio. These schemes typically have a mixed portfolio – usually in equity, debt, and gold. Here are the basic features of such funds. MF portfolio doctor: 5% hike in mutual fund SIPs can help Nanvani meet all money goals The mutual fund portfolio doctor assesses the health of the portfolio, examines the schemes and their suitability to the goals and recommends corrective measures. ​​The advice given is based on the performance of the funds, the risk profile and financial goals of the investor. Tax optimiser: IT professional Agarwal has limited scope to cut income tax Pune-based IT professional Girish Agarwal utilises most of the income tax deductions available to him and his salary structure is also quite tax-friendly Due to this, there is not much of a scope to further reduce his income tax liability. How gold, silver and WTI Crude performed for the week ending July 17, 2020 Here is a weekly tracker of returns from alternative investments. The returns from such investments should not be compared with the returns from traditional investments such as fixed deposits etc. as the proportion and purpose is vastly different.

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