Category Archives: Blog

Investment Trends, Risks and Opportunities of 2018

“An investment in knowledge pays the best interest.”

– Benjamin Franklin

Statistically and otherwise, 2017 has been a year of considerable and impressive transitional trends in the technology and economy, resulting in notable returns by distinctive companies. It is, however, vital that you stay apresenter of collusive investment that should expect not only financially uplifting results but also a balanced environmental and social return. Experts state that investing transformed itself onto a rather commeasured form in the year of 2017. Moreover, the blooming young generation of consumers and investors has initiated a new approach in parallelism to their money. In other words, they – like every other keen and enthusiastic investor – seek positive endowments.

Your primary motive for this New Year should be to patch capitalism as an element to embark upon proper elevation and enhancement in wealth and adopted financial techniques.

So, here are a handful of Six Financial Advices in regard to any investment that you must consider before commencing your idea for the year of 2018;

Comprehensive Analysis of the New and Upcoming Tools & Services

The dynamic change in technology and networking has enabled the workforce from all over the world to come up with new ideas and techniques, much in the field of investment as well. Internet has enabled an individual to pursue new and enhanced platforms that serve the purpose of assisting an investor at all times for various projects and companies.

 

Pursue efficient Fund Managers with Experience and Expertise

From cash equivalents to private equity; investments are offered at all fields. Henceforth, prior making a transitional decision as such that assists you in making the right move. One alternative would be to hire a financial advisor or fund manager. This helps maintain transparency and sustain consistent integration of management post investment.

 

Assort and Alter your Investments

It is important that you diversify your prospective and alternative investments instead of putting in your entire amount amidst one. This ensures a balance between the possible profits and losses. This could process somewhat like how mutual funds work or like the ETF.

 

Form an Architecture of Investment Literacy

Prior your first investment; spend time in understanding how the process works. The sole key to confidence is through spending ample time in formulating investment tools and techniques. This can be attained by making really minute investments with the aim to build up an affirmative understanding of the process. The second stream to uplift yourself as an investor is to follow the varied sources of information online. At SBS Fin, we are trying to introduce micro-learning channels to pass on the financial inputs in the briefest reads possible.

 

Ensure that you set Long-Term Goals

You should always keep in mind that making an investment holds equivalent risks. Stated so, the investment that you are about to commence should be in parallelism with a fixed, long-term goal that offers secure financial freedom despite the short-term fluctuations. This also ensures focused attention at your end. To understand, long term financial planning and its benefits – you need to sit the financial expert for financial goal setting as per your life phase.

 

Initiate Investing with Less Money

The first step always has to be a careful and smart one. Set a well-integrated budget for the next 6 months to ensure an ample amount for your investment. Now, decide on an amount that you don’t mind bearing loss upon worse-case-scenario.

Henceforth, investing helps your savings grow – only if you truly understand how the concept works. At SBS Fin, we want our investors to indulge and understand wealth management as well as the money market instruments. Try and inculcate the habit of being up-to-date with the trends of the stock market and analyzing its ups & downs for better investing strategies. The same can be followed and assessed on our mobile app SBS FinFit, the same is available on Google Play and App Store.

 

8 Tips to Assess if you are financially ready for Marriage?

Have you planned a successful financial union? Do you understand the nitty-gritties of getting into a wedlock and the add on that come with a blessed engagement called marriage?

If the answer to above question is yes, we are happy that you have planned a successful Financial union but if the answer is no – We would like you to go through the basics as explained below and do the needful.

Apparently in urban set-up, marriage these days requires team work – and demand equal contribution from both the partners. Money can’t buy happiness yet you need money for your needs. Money is a major enabler. It is the closest thing we can exchange for happiness. To survive in this material world, it is as vital as oxygen.

Getting hitched??Before even you plan your wedding expenses, honeymoon the first thing to discuss is finances. It is sensitive, never easy or fun but essential.Money is the biggest cause of friction in a marriage. There is no “my” money, “his” money or “her” money in a successful marriage. Regardless of who does or doesn’t work or who brings the most money; the successful married pool their money together, plan together,budget together, give together, spend together and save together.

While talking to few of my friends for this blog, I asked one of my friend why the conversations on money are so difficult. What she said made me smile. She said conversations around money are not sexy that’s why couples are reluctant to talk. On serious note I think we tend to avoid money conversations before marriage because they come loaded with lot of tension and fear of being judged. It is even harder than the ‘birds and bees talk’ which most Indian parent shy away from having with their children.

Not sure where to start??

Couples can start with discussions on money values-respective upbringing, grow up poor? affluent? respective family’s attitude toward money. How did parents handle money? This can be a touchy conversation, but it can also be liberating and create a habit of communication. The first & foremost part is to do your homework about the financial goals and life goals and also to figure out – how you plan to proceed with it as a team.

1. List your goals.
Do you want to own a home? Have one or more children? Emergency fund? Future career plans? Start a business? Do you plan to send them to private or Government schools? College? Do you intend to retire? If so, when and with how much money in your piggy bank?…how you will blend your finances

 

2. Figure out what each partner’s role will be.
The person who’s more detail-oriented might do the budgeting, account maintenance and check writing. The one who’s more interested in investments can track your portfolio, do research and make recommendations.

Finally planning your wedding expenses and honeymoon.

 

All this will give you some clarity and enable you to enter your marriage with a better understanding about each other and what is important. Remember you are a team and you need to work together.So let us understand the essentialmoves to make, prior to getting married and talking finances with your chosen life partner.

Smart Financial Moves for Life Partners for a Solid Financial Foundation

 

3. Complete a financial fitness assessment.

Before you share your financial story with your significant other, you need to know exactly where you stand. Your financial fitness assessment should include important information about your current financial status. At a basic level, complete your net worth statement and review your recent expenses.

Once you are done with the above, create a spending plan so you can start proactively telling your money where you want it to go in advance. Some other important financial measurements include your savings ratio, debt to income ratio, and emergency savings. But a financial fitness assessment should also include a quick examination of your financial attitudes and confidence about your knowledge of money matters.

 

4. Create a debt reduction plan.

You don’t necessarily have to completely eliminate your credit cards or education loan debt to walk down the aisle with confidence. But it is recommended to at least have an action plan in place to do so as quickly as possible after exchanging your “I Dos”. Lot of Millennials delay getting married until they pay off education or personal loan. Bringing the baggage of debt into a marriage can be a major stressor on a couple. That’s why couples should spend time understanding each other’s current debt obligations. But instead of just identifying the potential problem, focus on establishing a debt reduction plan to deal with education loans, credit cards, car loans, or other obligations as quickly as possible.

 

5. Be sure to make time for money talk.

Many a times we don’t want to talk money fearing judgement. Money talk prior to getting married requires trust and honest communication. Just remember that this process is not designed to dwell on the past. It is a way to use the past to guide future financial decisions in your life together. But if some financial baggage exists, it is better to expose things early on so you can create effective solutions as a couple.

 

6. Schedule regular money talks.

Don’t stop with a one-time exercise. Make this exercise a regular event. This is the best way to avoid having your partner become your biggest financial enemy.

 

7. Assign roles.

Couples must assign roles to manage finances as a teamFiguring out how to consolidate accounts can be a challenge. Sometimes it helps to establish a joint savings account for expenses before getting married to set aside funds for the wedding or honeymoon. You also need to discuss how you currently handle day-to-day financial decisions. Are you a better long-term planner or are you well-organized and prefer to pay the everyday bills? This will help you start creating an initial game plan on how to consolidate accounts and whether it makes sense or not to keep separate accounts initially.

 

8. How will you make major financial decisions?

Will you have spending rules such as a 24 hour waiting period for purchase over a certain amount? Do you feel comfortable using credit cards for everyday purchases to receive cash back rewards or does the thought of using credit going against your financial belief system? Are you going to use automatic budgeting tools which are easily available on iTunes or Google play store?

These are all important decisions that need to be made before walking down the aisle. So, Honey let’s talk about money first before we decide on the engagement ring.

For more details, feel free to write to us on rashi.bhargava@sbsfin.com

 

Habits that hinder your wealth management goals

“If money management isn’t something you enjoy, consider my perspective. I look at managing my money as if it were a part-time job. The time you spend monitoring your finances will pay off. You can make real money by cutting expenses and earning more interest on savings and investments. I’d challenge you to find a part-time job where you could potentially earn as much money for just an hour or two of your time.” 
― 
Laura D. Adams, Money Girl’s Smart Moves to Deal with Your Debt

The former bridge that connects your dreams, ambitions & goals to reality is hard-earned finance. Wise financial and wealth management is an affluence and beneficial task. It moulds class in your ways of living and enhances your personality as you grow.

There are, however, a few habits that cause to be barriers to an efficient wealth and finance management in your life-

  • The Race of Fitting In

We live in a society that has its own, self-formed rules, norms and cultures. In such a fast-paced environment, we tend to get influenced by trying to submerge within the crowd in order to be accepted by our fellow mates. People tend to choose an extravagant lifestyle in order to outsmart one another without keeping basic facts in mind. Materialism has got individuals to overlook relevant elements like financial security, repayments of debt & seeking satisfaction in real life.

Whether you are an entrepreneur or a professional – you are bound to be unaware of what happens the next second. The traditional buzz of consumerism and materialism is slowly taking away the wealth, freedom and peace of mind of three out of four people all around the world.

  • Absence of Basic Discipline

Discipline refers to following a code of conduct or wise behavior to flush out the disobedience & negative perspectives from your life. In simpler words, it is the ability to deny on doing a particular action when others are about to commence it with due respect to moral ethics and acceptance of right versus wrong. Not many are aware of this, but discipline brings along freedom as it comes – the freedom of not living in the guilt of doing something your conscience does not allow.

But, how does discipline affect your wealth management goals? Lack of routine, overhead and unwanted expenses, investing your hard-earned money in unhealthy habitual expenses etc. can hinder your progress in life with each tick on the clock. It is like a vicious circle of disturbed behavior where true content gets far away from your reach at each moment of continuity.

  • Loss of Initial Purpose

Success is said to be a journey, not a destination. Being said that, there has to be an initiation point. This provocative point is called purpose. Your entire future, savings, investments, ideas & concepts in life are solely dependent on this purpose. Sense of direction is a very important part of your life. You should be aware of your goals, integrating each step before execution and taking former efforts to record your progress from time to time in order to remind yourself of where you stand.

Proper alignment of your financial goals can only be accomplished with consistent hard work. And so, for efficient hard work – you must know true relevance of the fruit you are set to attain since day one. Commitment and devoir are the secrets to true success.

  • Incorrect and Absurd Investments

Investment decisions can be tricky and hard to understand at times. In times as such, always remember that salt also looks like sugar. In other words, do not end up believing and investing your hard-eared money on just what you’re shown in the first go. Always follow three golden rules before making an investment (big or small): Analyze, Improvise & Appraise. The motive is never to arrest the idea of investments, rather it intends on rearing the habit with intelligence and wisdom.

Each and every minute agreement should be under a legal and logical supervision before any decision is finalized, let alone a penny invested. Never hesitate in taking professional investment training before speculating and venturing out – for you should always intend on being better than the best. Saving on shrewd investments can help you save the money for better investments to enhance your financial security or status in a trillion ways!

  • Consumer Debt

Debts are broadly divided into two categories: good & bad. Good debts comprise of acquired investments which return profits, a portion of which helps repay the liability timely & make furthermore investments. While a bad debt or a consumer debt encompasses of unwanted liability and unwise investments which lead to financial crisis at its peaks.

Loan is served with the purpose of providing financial support which ought to be paid back with the respective interest rate. Utilizing loans for holidays or personal reasons that provide temporary comfort (lacking an occasion or relevant purpose) can be sheer stupidity. Hence, it is upon you as to where you wish to invest such a monetary form that holds liable responsibility and accountability to another financial institution as the repayment is bound to cost you more than you withdraw initially.

“The speed of your success is limited only by your dedication and what you’re willing to sacrifice” 
― 
Nathan W. Morris

If you think you need to mend ways in your life and value your hard work by choosing to be financially strong, independent and intelligent for circumspection and efficiency has never let a man down, start now. For regular updates on your Finances, please visit & subscribe to our website, www.sbsfin.com

Career Mistakes to avoid for better Financial Dynamics

“Write your own book instead of reading somebody else’s book about success.”

Herb Brooks

Career refers to a particular professional lifestyle choice that an individual makes in order to independently sustain in life and the society he/she lives in – earn a living and contribute to the economy. There is an immense competition in the society and hence, you need to integrate your ideas and strategize each step prior action.

One of the biggest snags that latch along with even a passion-based profession or career prospect are career mistakes which ought to be avoided and prevented upon for a better formulated future and management of financial dynamics. At SBS Fin, we work with lot of Millennials who are passionate and live a life of dreams and their idea is to fulfill each one of their dream – and that is where financial dynamics become significant.

Whether you are in a part time career, full time career, making a side income through your hobby, you must know the significance of financial fitness. Your life goals must have a financial goal as that forms the basis of all life goals.

How you are prone to make unwise decisions and career mistakes that incur a loss of assets and finance?

  • Overconfidence in your work
  • Rigid mindset about the future
  • Misunderstanding what you really want with momentary-influenced choices
  • Devaluing the company you work in
  • Lack of communication with co-workers
  • Distraction and Pessimism
  • Indecisiveness and escaping the reality

The root cause of a tremor in the management of financial dynamics with all due reference to career mistakes is misunderstanding the time value of money. As a practice we are not taught money management during childhood or even growing up years and the repercussions lead to complicated financial dynamics and the millennials struggle as they grow the corporate ladder parallel to their wish lists.

Below are a handful of ideologies with parallel financial mismanagement consequences which can act as a reference for you to clear of what the concept demands-

Analyze your skills and widen your scope of attaining potential

An individual should be wholly aware of his/her skills and strengths. Some people can be sharp at analytical skills while some might have strong logical skills and so on. The primary purpose is to enhance your existing skills and increase focus on creating progress. If you make regular expansions in your professional skill sets by exercising certain skills with mind games or by reading, it is bound to serve the purpose. It is important that you stay constantly focused, less over-confident and up-to-date about your field of profession in order to move forward.

Financial Dynamics Precaution: Investing money to achieve your goal is not the problem – the problem lies in being unable to understand your skill set and making the investments in wrong places instead. Life is all about risks but it is not wise to follow the same while handling finances in link to your career prospects. If you are in a stage where you are contemplating a career switch, trying an alternate career – the same should not impact your financial dynamics. Similarly, constant learning and skill building can be attained for growth if you have a balanced financial dynamic.

Do Not Settle

You must undoubtedly love your job. But that does not entitle you to permanently settle for what you do without exploring all your options. What inspires you now might just appear to you as an eye-candy in the times to come. Try to understand what the company/business expects of you and where you stand as an individual. Apprehend the goals that you have set for yourself, while simultaneously give your best at each opportunity you get to stand for your organization.

Financial Dynamics Precaution: We breathe and function in the upcoming Internet-Economy that helps us be potential to earn more money than we usually do. You should be consistent but not lazy and futile. Life is all about moving forward with the right pace, meaning do not hesitate in doing anything within your reach to maximize your income by moving forward in your field of profession and focusing on big money events in order to gain money and invest it in yourself. If you plan on boosting and pushing your income at an initial stage –  you tend to open doors of opportunities for a brighter future. Whether we work with solopreneurs or SMEs, our financial fitness expert Rashi Bhargava believes in not settling- she maintains one should not settle especially when it is about Emergency or Health corpus.

As a financial planning and wealth management company, we do not believe in settling as well. Whether it is the financial literacy, financial fitness tactics, physical fitness for financial fitness, wealth management tactics, portfolio updates etc, we believe in keeping our clients updated about the new products in markets.

Maintain the Focus & Remind yourself of the reason behind your Choices

Indecisiveness is the last thing that should come your way if you expect on outshining yourself from the past – to a better future. There can be instances when you would feel distracted of or think of negative things while you imagine yourself with your professional / career choice, years down the lane. This is a common feeling. The primary reason for which you need to analyze your skills and passion is to be aware of how inspired are you of your choices and of how much do you really value its worth. Not each opportunity comes your way casually, you have to earn it! You should feel satisfied with your career choice and be honest to yourself about it. You should ensure that your financial investment towards it and the energy devoted in attaining what you have is priceless and should serve the purpose of helping you spree at each opportunity.

Financial Dynamics Precaution: Always remember the motive behind each financial investment you opt for. For instance, if you plan on taking a loan for your education, it will hold value; whereas, if you choose to take loan in order to plan a trip with your family, friends or associates with the idea of repaying back, remember that it isn’t as worthy of the financial liability as it looks. Focus and confidence in self are the primary keys to attaining your prospective goals and you stand nowhere if you choose to ignore the basic financial equation: Income – Expenses = Savings.

Face the Reality

There is no guarantee or a form of security that ensures a consistent future. Focusing on factors like the stability, reputation and worth of your organization in the market plays a major role. No external factor can ever be secure and ascertained, except your internal will to grow and do better – hence you should be flexible with time and keep tabs of the circumstances around you.

Financial Dynamics Precaution: It is essential that you address to real-time common issues in finances within your environment. Always keep a backup financial plan for bad times and circumstances. Don’t just focus on curbing expenses, try to enhance your income by pursuing side-jobs or moving onto better jobs if the financial offers are more advance.

Henceforth, you should learn as to how and where to invest your assets, time & efforts and seek a brighter future and never stop believing in yourself!And if you think you need a personal session on financial goal setting, feel free to write to us on: contact@sbsfin.com

Mental Wellness for Physical & Financial Fitness​

WHO defines Mental health as a state of well-being in which every individual realizes his or her own potential, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to her or his community.

Mental health, mental illness, Physical health…. these words are fast gaining popularity in the world of working professionals, millennials and young children. Since we cater to these age groups, our annual theme of client engagement is kept around fitness and its significance for financial fitness.

When we interact with our clients, for their financial goal setting or their portfolio management or even during the redemptions, it is understood that we are all living in a complex, interconnected world – there is an interconnection between the mental, physical, and financial health spheres, with an imbalance in one affecting the balance in another.We are all running from one thing to another in our daily lives without taking a breather to think and reflect.Mental health is becominga serious issue. There is a lot of talk on direct relation between physical fitness and financial fitness but little has been spoken about mental health and its interconnection with physical and financial fitness. Stress is no more a buzzword, it is serious and has started taking a toll on good health & everyday productivity. The new age prescriptions are not about medicines but they are about Detox. We need to stop at least sometimes and look back and need to look at our own self, we can also consider at it is, do I really need to do this?

Despite our limited view and understanding of mental health as something quite separate from our physical selves – study after study has shown just how connected mental health is to other health measures, like physical and financial fitness. All 3 issues seem to be separate issues but they affect each other in multiple ways.

Mental stress has shown to contribute to chronic illness like High BP, Obesity, Diabetes. Conversely, people with chronic physical conditions like diabetes have twice the likelihood of experiencing a mood or anxiety disorder when compared to those without a chronic physical condition.

Similarly, poor financial health/fitness (Debt/lack of savings) can affect physical well being, economic productivity through stress and other factors. The fitter you perceive your financial situation, the better your physical and mental health.Same way factors like lack of sleep, relationship issues, poor physical fitness go hand in hand with poor perception of financial health. This works vice-versa but health is prime as that will enable us enliven our financial dreams and also to fulfil our bucket-lists and wish-lists. And if you have  good health, you certainly are going to have good life.

Our first client engagement activity theme was Physical Fitness=Financial Fitness. Before we take up mental wellness in depth, here are the quickie hacks on Good Posture & Muscle Health:

 

  1. Stretches and Movements are good in daily routine.
  2. Practice exercises for upper body even when you are sitting at your workstation
  3. Stand on your entire foot.
  4. Always sit with back upright.
  5. Challenge your balance
  6. Maintain a routine regime for exercise – it can be as little as 15-20 minutes a day.
  7. Always follow good posture – as that is the way to healthy muscles &brings agility.

But as my understanding grew and my first   hand experiences of being a care giver to mentally ill patient at home forced me to think on mental health too. Majority of our clients in the age bracket of 25-45. We are rather unfortunate to be working in challenging times where stress is part and parcel of our lives. We are constantly running to meet our deadlines at home and work front. We no longer have the luxury of job security. Increasingly youngsters are complaining of health issues like high BP, Anxiety, obesity, back pain, depression….

It’s high time we start factoring in mental health, physical health and financial health as part of integrated strategy for ourown well being and well being of our clients,employees and other stakeholders…Their mental well being, physical health and financial fitness are all ingredients for happy, productive and successful stakeholders.

Because we understood the need of the hour, our Lap of Fresh Air Fitness was around Physical Fitness and Mental Wellness.

Following are some basic take ways on mental wellness from the session by Clinical Psychologist Ms.Alisha:

 

  1. Sleep well and maintain a minimum 7-8 hour sleep every day.
  2. Develop a routine for meals and follow that at least 5 days a week.
  3. Do not ignore sleep disorders – consult an expert
  4. Say no to junk food
  5. Keep a check on your emotional health. Detox from gadgets and have more of real conversations
  6. Exercise regularly – body & brain both.
  7. Reading is a good exercise for brain.
  8. Breathing is a good exercise for mental health.

Couple the above tips for mental wellness with the physical & posture tips as shared in Lap 1 and Lap 2 of Fresh Air Fitness Engagement programs of SBS Fin. Work on your health and maintain a good health corpus, both of these combined will ensure Financial fitness and freedom for your future life.

To know more about the Lap 2 of our Fresh Air Fitness event or to speak to our experts for Financial Health Corpus & planning, write to contact@sbsfin.com

 

Documents required whilst purchase of a House

Buying a house is one of the ultimate dream in each & every Indian household. And as to many people, we felt there is a need to understand the basic documents required to purchase a house in India. Many a times, the buying of a house is seem to get stuck or delayed due to mistakes in the documentation. That is the reason team SBS Fin decided to share the details on documents required for purchase of a House in India.

A proper checklist is the most paramount step in property (house) purchase procedure. It involves a statutory and regulatory framework. Yet, it is so common that almost 80% of the clientele fail to submit and get complete documents at the time of purchase. Two things should be kept in mind prior purchasing a property:-

  1. Inquiring and analyzing various competitive costs and modes of funds.
  2. Protecting yourself from being a victim to sheer fraudulence.

Following is a list of documents to be checked before buying a house:-

  • Mother Deed/ Sale Deed/ Conveyance Deed

These are the former legal document that helps tracing the antecedent ownership of a property under the deal. Alternatively, in the absence of a mother deed, you must make sure that you obtain certified copies. A sale deed acts as the cardinal legal document for creating evidence for a sale and transferring ownership of property in favor of the buyer. You must also check whether the property under the deal bears a clear title, well-in-time before the sale deed is formulated.

Main Purpose of the document (strictly original): To establish esteemed ownership of the seller.

  • Khata Documents

Khata refers to an account, which, in this context means an account of an individual who owns property in the city. Khata documents are broadly divided into two categories: Khata Certificates and Khata Extracts.

The purpose of a Khata Certificate is for the initial registration of a new property and for transferring of a property. Khata Extract, on the other hand, is used for ferreting out details from the assessment register. This document is required to obtain trade license or to buy a property.

Main Purpose of the document (strictly original): For the transfer of property.

  • RTC Documents

This document is issued by the Village Accountants, containing extensive details about the extent of land in a survey number. It also contains details like the names of present and previous owners of the land, their tenants, mortgages, details of the soil, etc.

Main Purpose of the document (can be a copy): To establish title of the land.

  • JDA (Joint Development Agreement)

This property document forms an agreement between the builder and the individual landowner that ensures the landowner contributes the land and the builder undertakes advancing activities on it.

 Main Purpose of the document (can be a copy): To ensure distinctive authority and establish whether original title rests with the Builder or the Landowner

  • Power of Attorney

The general power of attorney is a prospect and legal document in which a person is given authority by another person to act on his/her behalf as the legal representative. This person is bound to make lawful financial and legal decisions.

Main Purpose of the document (strictly original): To ensure whether the prior Purchase/Sale was carried out by an authorized seller/buyer.

  • Authoritative Documents

The documents that come under this ensure that all government-related facilities are implemented and provided legally and procedure-wise. Even before starting construction at a site, the builder requires a NOC from all key Government Departments in full and revised authority. This can also lead to increase of expenses.

Main Purpose of the document (can be a copy): To legally ensure that all Govt. approvals are in place.

  • Construction Agreement

It is a vital property document which ensures legal permission for execution of work related to construction and involves transfer/sales of goods. This document should be submitted in original forum.

  • Demand drafts & Drawings of the property
  • Property Assessment Extract
  • Up-To-Date Tax Receipts’

This ensures that taxes have been paid regularly and on time until the date of sales, with bills like that of water or electricity should also be analyzed.

  • Foundation Certificate
  • Letter from the Builder

This warrants possession of the property and it being delivered to the buyer on the date specified in the letter as a note of verification. This document is required in an original form.

  • Sale Agreement with the Seller
  • Demand Letter from the Vendor
  • Contribution Receipt of the owner with Bank Statement
  • Release Deed
  • Completion and Occupancy Certificate
  • Deed of Declaration (To transfer ownership legally to the original buyer by the builder)
  • Auction Sale Confirmation Letter

This letter is issued by from the Local Development Authority and is required in case of any site purchased by independent house owners by methods of Auction by Local development authority. A copy of this document is permitted to be submitted (instead of the original).

There are a few more of documents which might be required for this purpose; however, the above is an overview of all the basic documents you need to efficiently prepare in order to formulate a legal and beneficial purchase of property. You should also seek professional guidance in order to gain immunity against ambidextrousness and artifice. For more details on Home Purchase or Home loans, feel free to write to us on rashi.bhargava@sbsfin.com

Personal Finance for Millennials

Your economic security does not lie in your job; it lies in your own power to produce – to think, to learn, to create, to adapt. That’s true financial independence. It’s not having wealth; it’s having the power to produce wealth. – Stephen Covey

 Over the years of changing generations, the millennials have advanced the basic meaning of work through various economic and corporate trends. Each individual – in today’s time – faces hardship in stabilizing and balancing their wealth with personal life, which is why it is essential to gain ascendancy over your personal finances and wealth.

The exercise of the principles of finance to follow-up monetary decisions of an individual or a whole unit is called personal finance. This focuses on righteous spending, saving, budgeting and other financial activities with variant monetary resources.

Why is Personal Finance Important for Millennials?

  • To create wealth and value your net worth.
  • To avoid, annihilate and eliminate debt.
  • To track financial budgets.
  • Helps you expand your horizons to discover various financial opportunities.
  • Better understanding of accounting, tax and legal formalities.
  • Helps you attain your best interest.

 

Following are certain guideline one is advised to adopt in order to set personal finances right:-

 1. Draw A Line

It is very important that you understand of where to draw a line with your personal finances. This means realizing the aberration between investments in personal assets and business investments at individual basis. A prospect and young entrepreneur should never adhere their future and potential to the success of companies they work in. You should not hesitate in investing a part of your finance to follow your passion if you maintain financial security. Self-employed Millennials should aim at constituting miscellaneous and long-term invested portfolios that help them grow beyond a comfort zone because financial planning is not just limited to numbers – it should help you build yourself with ardor.

2. Maintenance of your Books

Business is all about risks, but do you know the biggest risk of all? Not taking any. In the process of building your organization, you tend to follow-up higher and heftier projects, charter more workforce and so, you have to be efficient enough to maintain competence and expertise. It is vital to address minute details along with achieving goals. For instance, the financial management of your company, i.e. a well-structured and methodized budget, should meet the required needs and smoothly help the organization pass the tax season. Top-quality accountants and financial advisors are the pillars of this financial management; they utilize avant-garde technology to keep a record of assets whilst providing personalized guidance like deploying more capital in certain areas or cutting back costs.

3. Formulate a Disciplined Savings System

Financial security and independence is an esteemed ritual in every Millennial’s livelihood. For instance, every time your business generates revenue – pay yourself a portion of proceeds. The capital of your company is utilized in payment of bills, debts and salaries. While on the other hand, when done with the management of these accounts, a portion of fixed amount to yourself can allow you to frame your personal budget and uniform long-term savings plan.

4. Hire Professional Advisors

To help meet primary and basic planning requirements like integrating a saving schedule for personal budget, Millennials are required to contend with more and forthcoming financial needs of their businesses. You need proper and expert guidance to undergo and take financial and economic decisions.

Henceforth, Personal finance helps accede high-financial literacy for Millennials and thus, should be followed for a productive future.

At SBS Fin, our financial fitness expert Rashi is on a mission to spread Financial Literacy and Physical Fitness for the millennial generations. She is a financial coach to many startups of the millennial generation and is also spreading awareness about Physical Fitness as one of the mantra for Financial fitness. SBS Fin is regularly engaging its clientele in educative events about health & lifestyle to pursue their goal of maximizing avenues for financial fitness among the millennials. You can reach Rashi through the contact form or email her on, rashi.bhargava@sbsfin.com