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What led to the massive drop of $8k in Bitcoin Price -Money Bites 26 Feb

Money Bites

Short bites to keep you informed of matters that impact your wallet and wealth

Hey there,

Hope all’s well at your end!

As life gets back to normal, and we are getting out more often, how are you dealing with the fuel price hike? Do you have any smart hacks? Do let us know.

On the other end, India faced the second-highest number of cyber-attacks across Asia Pacific with finance and insurance sectors being the most hit. We hope you are taking adequate safety measures while doing online transactions

Top Bite this Week

What led to the massive $8k drop in Bitcoin prices?

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Tax saving

Best tax saving options for 2020-21

India has two types of tax structure – direct taxes and indirect taxes. While indirect taxes are collected through various products and services, direct taxes are charged on the taxable income of the eligible taxpayers. Taxes are essential for the progress of any state but tax-payers have the option of investing in tax-saving schemes to reduce their tax outgo. These tax savings provide a dual benefit i.e. tax-saving and building an investment portfolio.

As we approach the fag end of this Financial year (2020-21), we bring to you 10 tax savings schemes that you could consider if you haven’t done your investments yet. 

Best tax saving options for FY 2020-21

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6 top tips to improve your Credit Score

A credit score is a three-digit number that lenders use to determine the likelihood of being repaid on time while granting a loan or a credit card. This important financial factor can affect how much and how frequently you can borrow. The higher your score, the better your chances of qualifying for loans at favourable terms. The same goes for credit cards. 

Banks and other credit issuers do not easily lend loans to individuals with a low credit score because they see a higher risk of default in such cases. If you can get a card or a loan despite having a low credit score, then chances are that your credit limit will be low or you may have to shell out higher interest rates. To prevent this, it is advisable to aim for a higher credit score. In this blog, we will explain credit scores along with smart tips to improve your credit score.

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fuel price hike

Money Bites – 19 Feb 2021

Money Bites

Short bites to keep you informed of matters that impact your wallet and wealth

Hey there,

Hope you all are doing great!

The Sensex rally that started with the Budget seems to be going strong. On the other end, gold plummeted to an eight month low. Planning for a drive to make the best of WFH? Hope you have your Fastags in place. They are now mandatory all across the country.

Top bite this week

Petrol price hits a century in some places. Do you know why?

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Insurance covers

Top 5 Insurance covers needed in every person’s kitty

Insurance is a word that is often heard when talked about investment. It can be best explained as a safety net or a blessing at the time of crises. A majority of people consider insurance just from the point of view of a tax-saving instrument and mostly buy life insurance. However, there are many types of insurance covers that are quite essential for a person to have. While life insurance can provide a safe future for the family of the deceased if he/she was the sole breadwinner, other types of covers like health insurance or vehicle insurance will help in the event of a medical emergency or an accident. 

Insurance is often considered to be unnecessary, especially by young people in their 20s. They usually think of it as a waste of money and rather prefer spending on high-risk high-return investments like stocks, futures, and options, etc. However, according to a majority of experts, 20s are the best time to get an insurance cover as the cover value can be high and the premiums for them will be quite low. Moreover, these plans do not require an agent to be the middleman between the insurer and the person insured anymore as they can easily be bought online depending on a person’s needs.

Here are the top 5 insurance covers that are essential for a person to have in today’s day and age.  (more…)

Money Bites – 12 Feb 2021

Money Bites

Short bites to keep you informed of all matters that impact your wallet and wealth. 

Hey there,

Thanks for all the love and encouragement shown to our 1st edition of Money Bites sent out last week. Missed reading it? You can access it here.

The RBI kept its benchmark rates unchanged which means your loan rates and deposit rates remain the same. On the vaccine front, we have good news as India has turned out to be the fastest country to reach 70 lakh vaccinations.

Top bite this week

Will taxation on EPF interest eat into your retirement fund?

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Money Bites – 05 Feb 2021

Money Bites

Short bites to keep you informed of all matters that impact your wallet and wealth. 

Hey there,

Welcome to the 1st edition of the weekly newsletter – Money Bites from Finity. If you missed it, your trusted investment partner MyWay Wealth has been rebranded to Finity, as a part of our endeavour to create a better experience for you, our beloved customer.

While the year 2020 seemed to be a year that we all would like to forget, 2021 seems to have started off well with a trio of lower Covid-19 cases, vaccinations, and the economy doing better than expected.

The Union Budget announced earlier this week with impetus on healthcare and infrastructure hit the right chords to take Sensex past the 50k mark again.

Top Bite this Week

Some state-owned banks to go private

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Financial mistakes to avoid in 2021

5 financial mistakes you should avoid in 2021

COVID-19 has driven a lot of importance towards health and wellness. While you might be paying attention to building your immunity and health, are you paying the same amount of attention to your financial wellbeing? After all, your financial wellbeing may have a big part to play in your overall wellbeing and state of mind, right?

Financial success is something everyone should aspire for. But there might be some pitfalls on your way to success that could cost you heavily. 

We bring you 5 financial mistakes that you should avoid in 2021. 

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Union Budget 2021

Union Budget 2021: Top 10 highlights you need to know

The Finance Minister, Ms. Nirmala Sitharaman announced the Union Budget for the next financial year yesterday. There were no changes in the tax rates/slabs but some changes have been made to make tax compliance easier. The focus on self-reliance and increased spending on healthcare are some positives that look at taking the economy ahead. 

Here are some of the significant announcements that you need to know. 

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