How The Women Could Be Alert In Finance Related Matters?

Women are in no way inferior to men in any field whatsoever. This is the reason why the women are one step ahead in investments. But they should be alert in matters pertaining to finances; otherwise it is very easier to be duped by the play by night brokers masquerading in the financial world. This article deals with the menace lurking in the world of investment.

Financial knowledge to both female and male is very little or nonexistent in our country. Females are fully illiterate in these matters. Oftentimes, the brokers and the financial companies dupe them sinking their lacks of hard earned money as a result, they have to face numerous sorts of difficulties. They must be knowledgeable in the right type of saving schemes.

Right type of savings?

If the person has no home, investing in homes is the best sort of investment. The money lying idle in Banks accrue a very meagre amount as interest whereas the property prices hike up spirally. After this, one should invest in mutual funds by planning their financial position. There are so many mutual fund schemes floating in market.

Gold loan- how much proper?

Gold prices are skyrocketing of late. Therefore several companies proclaim to extend loan against gold. This deal is most dangerous. History is the proof gold prices don't remain same. It keeps fluctuating higher up-lower down. In such a scenario, the companies cut down the loan amount to be paid to you or sell your gold which is dangerous and replete with risks putting you into great losses.

What is finance planning

Both the women as well as the men should have the knowledge of finance planning. If you have a flat, is there the nomination in it of your wife? If there is a saving account, it should be in the joint names of both the husband and wife with the instruction clearly mentioned in the account of the provision of "payable to either or survivor" so that in the case of demise of the either of the two the survivor doesn't have to face hassles later.

If you have funds parked into Bank, open up fixed deposits. Go on depositing the interests accrued at the end of the fixed deposit's terms for years. This way, you shall be able to accumulate a huge sum in matter of 20-30 years which would prove to be almost equal to a fortune for you in the evening of your life.

Schemes foe senior citizens

The 'New Pension Scheme' for senior citizens are the best in which the government deposits 1000 per annum for a period of 3 years in which the senior citizens make deposits in it after wards.

Index fund

Prices of essential and other commodities are rising steeply in the market. To combat this inflationary menace, one should invest a chunk of his fund in the index fund schemes also.

The senior citizens should try to seek out employments near by their homes to supplement their income.

If they have the shortfall of money, and cannot earn, and if they have a house of their own, they could put their home as 'reverse mortgage' from which, they would be getting money till their life. This work is being carried out by the 'National Housing Bank'.

The chain/pyramid marketing

Never invest in chain marketing or pyramid marketing. These always proclaim high returns but fail within 1-3 years sinking all your money turning you into losses.

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