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How Are Prepaid Cards Disrupting Banking

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As we all know that people are using prepaid cards everywhere whether they are doing an online purchase or an offline purchase prepaid cards are now everywhere as you can I add a particular amount in a prepaid card which can be used for any purchases there are many advantages and disadvantages of prepaid card and this pose will discuss about prepaid cards and how are prepaid cards disrupting banking.

For all those who don’t know what is a prepaid card let us first quickly check out the difference between a prepaid card, Debit Card and Credit Card. Prepaid Cards Vs Debit Cards Prepaid card is basically a card in which you put some money on to the card for future use it is not linked to any bank account or to a Credit Union shared account instead of you just load some amount of money and you are all set to do purchases online or offline using the prepaid cards.

Where a debit card is a card which is always linked to your savings account or your current account and if you do any purchase using a debit card all your money will be deducted from your account which is linked with that particular debit card that you are using for your online or offline purchase money is always deducted from the bank wherein prepaid cards the money is loaded into a card and you cannot make a purchase which is prepaid cards Prepaid Cards Vs Credit Cards This might be confusing as both prepaid cards and credit cards have the same logo most of the time as network logo of Mastercard, American Express or Visa are same and it becomes really difficult to recognize which is the prepaid card and which is the credit card.

But the main difference between the prepaid card and the credit card is that credit card is connected to your bank account and you can spend any amount from your credit card whether you are doing an online purchase or offline purchase you can spend any amount from your credit card but with the prepaid card you can only spend the amount that you have loaded onto your card and not more than that so if you are planning to do too much of shopping make sure you add more amount on to your prepaid card because the card gets expire after a particular date.

Is Silver a Good Investment?

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Have you received a big amount after years of saving and want to invest in the right place? There are many options available in today’s market like stocks, gold, silver, company shares, diamonds and franchises. Out of all these options, some choose precious metals such as gold and silver. But, before choosing silver, many people wonder is silver a good investment. Well, to make you feel confident, here are a few reasons why you will choose silver confidently by the end of this article. 

Silver Is as Good as Real Money

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There is no chance of any form of counterparty risk or default risk. After you own the silver, there is no requirement of anyone to make good on a promise or contract. Whereas, this is not possible in bonds or stocks or virtually any other investment. Long term use as money is also possible. 

Hard Silver Can Make a Hard Asset

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In a world, which values paper profits, currency creation and digital trading, physical silver is a contrast. It is one among those few assets that you can comfortably bring in your pocket wherever you go, even if it is another country. Unlike your other investments like bonds and stocks, you can see and hold this asset when you wish to do so.

Silver Is Inexpensive

If you wish to make the most of your saved money, then buying silver will give you real satisfaction. This means, even for a moderate amount of money, you can buy a considerably good amount of silver. On the other hand, you will need a huge sum of money to own a reasonable volume of gold or diamond. 

Very Handy When You Need Immediate Cash

If you are still thinking is silver a good investment, then here is an ultimate advantage. Silver is not just inexpensive to buy, but it can be more useful as when you are in need for immediate money it is easy to sell. Probably you do not want to sell a good amount of gold to solve that little financial need. Enter silver. Since it comes in lesser denominations when compared with gold, you can sell only for the required amount. 

Outperforms Gold in the Bull Market

Silver has a small market that a little cash stirring into and out of the industry can easily impact the overall price to a much superior degree than your other assets like gold. This greater unpredictability means that in stand markets, silver falls more when compared to gold. But in the bull markets, it will soar abundantly further and much faster than that of gold.

The other advantages of investing in silver are that the global demand is increasing for silver.  Multiple countries are at peak production to keep up with the graph of sales. Another way to determine – is silver a good investment is that in a silver/gold ratio, silver wins! This shows that at any point in time, silver is a kind of metal that can be bought at any time. You will not have to worry about its current market price while buying or selling.

How to open an Investment Firm?

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Starting an Investment firm is not just having a piece of cake with tea, it requires a lot of effort, planning and mental strength to make it work. An investment firm is a financial institution generally involved in investing in securities, so if you are looking to open an investment firm then in this article, we have come up with few major points to make you understand the better ways to open an Investment Firm.

  • Choose an attractive name:

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A name is something that defines your firm identity, picking an attractive name which suits your company identity will surely help your firm to grow on a large scale from the beginning.

  • Take down your Business Plan:

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Your business plan includes a complete structure of your investment firm plan. Starting from your target clients, your net worth expected employees, goals, objective etc. You should also mention your detailed marketing strategies and how can you attract your customers for your investment firm.

  • Incorporate and Register your firm with the state:

Write an application form of incorporation mentioning your investment firm and submit the required documentation to the state government official and get the license further.

  • Register with SEC and IARD:

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Since you are looking for opening an Investment firm then you must register your company with Securities and Exchange Commission and Investment Advisor Registration Depository (IARD) as this is important to follow for all the investment firms.

  • Arrange your Marketing Material:

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You have to obtain different marketing and information packets from funds and investment companies which you will be further representing your clients. You have to gather as many clients as possible to register as their representative and make your investment firm grow larger.

  • Market your investment firm:

Create various marketing materials to promote your firm. You can use both the traditional methods as well as the digital method to do so. Build a website, promote on social media, invite friends to like share and visit your website and your company also. Share quality content to encourage various clients as well as common people to join your investment firm reach out to people make Business cards, advertisements to reach more people in a professional way.

These were some important methods to understand how to open an Investment firm. Each step mentioned above is very much necessary if you are very serious to start an investment firm of your own. Thank You for reading.

5 tips to choose the right mutual fund in India

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If you have made a decision to include mutual funds on your investment method however do not know how to begin, it is quite easy to know what investments can be made from your funds. So picking the best mutual funds involves choosing those who provide good return at low cost. Before Investing in mutual funds it is very important to some research instead of blindly trusting the other resources. Below are the 5 tips to choose the right mutual fund in India.

Financial Goals

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The question you need to ask yourself is why do I need to save. It might be important to ask these questions because time period required to achieve these goals may vary from months to years. So by figuring out your goal you may be capable of keep on with your investments and no longer leave it midway if come upon exclusive short-term goals.

Risk taking capacity

Once you already know the goals you need to link them with your risk taking. So If you are ready to take higher risks where you can invest in mid capitals and small capitals funds. The most important thing is that you can go with debt and balanced schemes of the mutual fund.

Choose the MF Catergory

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So after choosing your financial goals and risk taking, you need to think which category of mutual fund suits your requirement. For instance, for long term goals which are at least five years away, So it is advisable to invest in equity funds and for short term goals which can be 3 years for debt or balanced funds

Performance of the fund

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Once you know the category, choose the precise scheme you want to put your money in. Try looking at the performance of the fund during different tenures and compare it with the benchmark and similar rate variety in the same catergory.  Also there are many mutual fund websites that offer you the assessment of schemes.

Fund manager’s performance

The last step is take into consideration the track record of the fund house and fund manager before investing your money in mutual funds. While selecting the mutual funds choose the scheme after looking at the long term performance of the fund, not by comparing it for a year or so.

Hope that I have covered all the topics in article about 5 tips to choose the right mutual fund in India. Thanks for reading!

 

How to Choose the Right Investment Plan for Your Kid’s Education?

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Yes, this interesting question has lot many answers. Well, education standards have become too high and likewise the cost to the education. So today’s kids are going to become tomorrow’s future! All you need to do is plan your finances well so that you don’t have to worry about the fee structure at all. You can get an advice from your auditor as he will know in and out about taxes and you even get a benefit from it. Here is the right investment plan for your kid’s education.

Be an Early Bird

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Yes, before thinking twice start investing in mutual funds. Even if the amount is less, don’t worry just keep pooling in. “A Man who leaves this world without making insurance, should have to get back and see the mess created”. So, start saving money and invest INR 3000 per month. Invest in a long term insurance so that when your kid turns 18, he will be having enough money to look after the fee as you don’t have to invest from your pocket. Let us get in deep about the benefits of insurance in the next half of the article.

Look Out for Partial Withdrawal Clause

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Always be prepared for the worst. Emergency might come any time. So, ensure you put in the cash in the plan which agrees for partial withdrawal. Thus, the option of partial withdrawal lets in you to withdraw partial sum of money from the kid funding plan with the intention to meet the unforeseen fees. This prevents any form of emergency that consequences in financial instability within the own family or within the toddler’s desires.

Go Through the Terms Before You Finalize

Well, never hurry up things. Ensure you take enough time in going through all the terms and condition of the plan. So, that you don’t regret in the future. The great infant plan comes with several precise capabilities and thus, it’s critical to observe them cautiously as this could save you confusion on the time of maturity. Also, it will help you in deciding on the best child schooling plan as per your baby’s desires.  

“Expect the unexpected”, with this saying Insurance is a savior. You never know what happens, always get insured. Hope the blog has given enough information on How to Choose the Right Investment Plan for Your Kid’s Education. Stay connected to us for more such sections. Thanks for reading!