Money Mistakes to Overcome In The New Financial Year

New Financial Year
New Financial Year

To consider mistakes to overcome in the new financial year, a clear understanding of new facts on Indian economy is a must. While comparing with the pre-GST system with new unique GST system, a 50% increase in the unique indirect taxpayers has been witnessed.

Also, since November 2016, 1.8 million individuals have filed taxes. An additional 30% when formal non-agricultural payroll is defined under EPFO/ESIC offers and more than 50% under GST net. The international exporting and trading made the states richer. Clothing incentive package boosted exports of readymade garments. Last but not the least, the economic status demands to re-ignite the growth by raising investment than encouraging saving.

Make all your Investments with specific financial objectives in mind and be a successful financial planner in 2018.

Are equity shares a good investment?

Apart from South Korea and Hungary, India was one of the three emerging markets to gain more than 35% in 2017 in dollar terms. Also. Indian market capitalization has surged 46% to $2.29 trillion last year to make India the eighth largest market in the world. Rs 1.15 lakh crore was poured in by the domestic mutual funds and FPI flow was second highest after Mexico. So it is a good time to gather stocks and units at fewer prices with SIP routes.

Trading in shares requires in-depth knowledge of the functioning of the stock market and the industries. It requires regular monitoring of the fluctuations of the market and quarterly financial results of companies. The NSE’s Nifty 50 Index had lost — till March end, this year — around Rs 3.6 lakh crore in market value, as investor sentiment was marred by a global sell-off and a Rs 13,000 crore bank fraud. So be careful, when you look at stocks as an investment option.

Don’t exit the market early. Have patience

It is a wise choice to be a regular investor than to invest during market times. Therefore, investing in the short-term market will not prove good for your financial goals. Restart SIPs if you have stopped them. Let your investments follow your financial goals and not market trends. It will be a tough year for equities.

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Is fixed deposit (FD) the best investment instrument in 2018?

Yes, definitely. An outlook for 2018 states that it is advisable to invest in long-term fixed deposits as interest rates on small savings may be less. FDs are safe and provide assured returns. Bajaj Finance Fixed Deposit offers a high interest-rate of 7.85% and 8.2% for senior citizens. Check how much you can gain through your FD by using the online Fixed Deposit Interest Calculator.

Investing in PPF can also be a good choice offering an interest rate of 8-8.75%. The only downside of PPF is that it comes with a lock-in period of 15 years. If you’re looking for faster access to money, pre-approved offers by Bajaj Finance help you save time and you can avail your money in just 3 clicks.

Will real estate prove better in 2018?

The demonetization has dampened the demand for real estate properties with prices tumbling in the negative by -0.42% and -29.30% in Mumbai and Delhi respectively. Demand for home loans has risen, which shows a positive sentiment, but a lot of properties, specifically in Noida, Gurgaon and Mumbai are under litigation and many developers have filed for insolvency. So if you are looking to buy a house purely for an investment purpose, be careful and check the financial health of the developer before parking your money. 

What else can help you script success?

  • Experts believe that EPF will offer a high return on investment this year.
  • Let your children, driver, housemaid, watchman, newspaper vendor go cashless by starting with simple payment apps as the government urges for the digitization of currency.
  • Invest in National Pension Scheme and also link Aadhar with all investments to act as single KYC access for all investments.
  • Seek expert advice from a financial advisor.

Investing in gold proves to be a failure this year. A better option could be gold bonds, which will not only earn you appreciation in the yellow metal prices but will fetch you a good interest rate.

Also Check: Bajaj Finance FD Schemes


The author sambawa

Sam is a professional blogger & writer. He likes to write about tech, business & Education.

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