Mentotax: Investment Ideas

Showing posts with label Investment Ideas. Show all posts

Sunday, April 7, 2019

Invest to Drive Your Passion

Investing for your passion and perusing it will make you feel comfort and complete. If we do what we like, we will give something extra to it!

You may like cycling and you wish to buy a cycle for trips during weekend. You feel to enjoy your passion. But purchasing cycle out of your monthly income may affect your finances until you have a surplus. There may be lot of hindrances from your family and friends. When you have a bike and car, why you want a cycle now? and lot more questions.

If photography is your passion you need to better Lens for camera to smart yourself . Few may fancy to learn a musical instruments like guitar, Keyboard. But they kill the passion due to the financial constraints and keep running to earn more!

Mentotax gives a solution for this with weekly investment without giving trouble to your finances to pursue your passion.

Buying a cycle/guitar/Lens would require Rs 10000/- today but by end of the year you may require Rs 10500/- due to inflation.

Start accumulating Rs 10/Week and increase it along with every week.

Week     Amount
1               10
2                20
3                30
..                 ..
..                 ..
51              510
52              520

Until you accumulate Rs 5000/- keep parking it in savings bank account where you will not withdraw for routine expenses. Your investment will fetch you 4% return for 30 weeks.

On 31st week shift your funds to Mutual Fund Liquid Schemes. Because good liquid funds need minimum investment of Rs 5000. Your investment can fetch you 6.5%. By end of the year you can save Rs 14537 with average 5.5% returns equivalent to your inflation.

Which can be utilized for purchasing your Cycle/guitar/Lens. Never give up your passion!!

Don't worry about anything!! Start investing to drive your passion in you without troubling your finances!!

#Passion #investing #MutualFunds

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mentotax@gmail.com

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Thursday, April 4, 2019

Start Cultivating Investment habits in you!

Everyone wants to save more and be financially independent but hardest thing about saving more money is getting started.

People wants to get rich very quick, but they start to invest only at the later end of the life. There expected corpus will not be made because of less compounding effect. Simple Concept, If you want to be rich, Make your money to compound, Invest as early as possible.

Every Individual as their own kind of investment, Few People invest in Mutual Funds, Few People take risk and invest directly in shares, Few People in Gold, Land, Small savings schemes in post office. Its up to the risk appetite of the individuals. Cutting your routine expenses and investing that will help you in balancing your finances.

Example sacrificing a movie per month:

If we think about weekend, First thing that comes to our mind is movies, if we try to skip one movie over the weekend and save Rs 1000/Per month and invest the same in mutual fund that fetch you 8% return on average, In a year you could save 12960/- This amount can look smaller now if the same is invested for 25 Years, Your Corpus can grow up to Rs 9,47,452/- . If it is invested for 30 Years your investment will grow up to Rs 14,68,150/-

Sacrificing a movie can fetch you over Rs 15,00,000/- to balance your finances. Start cultivating Investment habits in you to financially independent. This kind of savings will help you to maintain discipline in spending, Savings and Investing from young age.

Mentotax guides you in planning your monthly budget to financial goals!!

For More Clarifications:

Mail: Mentotax@gmail.com

Friday, March 29, 2019

Generate Income for Future Rather Than Spending Future Income Today

First Step of financial independence starts with debt free life. Income generation is very defined or limited but your expenses are limitless. If you understand your income/expenses pattern you can attain Financial self sustainability.

Credit Cards, Consumer product loans, Personal Loans are the debt traps that makes everyone to fall. One who cognise that it is liability and stops him from the opportunity of generating future income will never enter into it. Being debt free will boost you to save more.

If you can postpone your desires/wishes instead of getting into debt. You can achieve financial freedom.

MentoTax recommends to hold a emergency corpus equivalent to three months salary in instruments where it can be easily withdrawn with out any complications. This will help you to protect using future income for today's need in case of any contingency.

Blog:
https://mentotax.blogspot.com

#Mentotax #Investment

For More Clarifications

mentotax@gmail.com

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Just Clicking the below Links :

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Thursday, March 28, 2019

Start Investing For Your Skillset Upgradation.

Start Investing for your skillset upgradation.

Nowadays you might have come across pink slip concept is growing in our country. That threat is not possible for someone who is upgrading his skillsets periodically.

Pink slip is a official notification from the management that these worker's position has been eliminated or that Worker's are no longer required for the organisation.

It is very important to upgrade your skillsets to the current market situations. Nowadays We need not require to visit institutions/campus. Everything is ready over the internet. Various avenue are available like seminars, workshops, conclaves, Webinar, online tutorials. You need to understand your skillsets which will boost your career and make you unique among your coworkers.

To take up certification exams in your domain requires money. Spending from routine monthly income might not be possible for few people. so plan your finances to boost your skillsets.

MentoTax recommends to allot at least 2% of your monthly income towards upgradation of your skillsets and also use the bonus/Exgratia/yearly perks given by employer to this.

Education Loans can be availed for higher studies and Upgrading your Skillsets. Interest portion of the education loan paid in a Financial Year is exempted under Section 80E of Income Tax Act.