February 1, 2017

IS THIS YOUR FIRST JOB? HERE IS A SIMPLE SET OF GUIDELINES ON HOW TO INVEST YOUR FIRST SALARY?

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MoneyMindz.com India’s First Free Online / On-call Financial Advisory

You completed graduation with extreme hard-work and dedication. After completing graduation with flying colours, the next major task is to hunt for a stable job. You started hunting job and landed into one. After working for 30 days without taking any leaves, a special day arrives. The salary credit took place on your bank account, and the first salary of your life in corporate life.

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No doubt, you are excited to get the first salary, after getting your first salary; you purchase something for your parents, close friends and relatives. You must also make sure that you spend salary in a judicious manner. Here are some of the steps to be undertaken, when you receive the first salary. 

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Create A Good Budget: Since you are earning well, no doubt you will have lot of expenses in the future. You must draw a neat list of budget, about the amount you earn and the amount you spend. This provides a general idea about income and expenditure. 

Think About Future: After receiving first salary, you must understand about your goals and priorities. You must chalk out a plan for the future. This will give you the much needed road map to visualise your future growth in an organised and acceptable manner.

Invest Well: Use the amount you earned, in order to invest in various financial products like insurance, bonds, debentures and others. Take full knowledge about various financial products before doing any investments.

Create An Emergency Fund:  You need to take some part of the salary and invest the amount in an account used only for the emergency purposes. Furthermore, you must be fully prepared to handle financial issues. You must also protect from various financial difficulties, as it can eat into your savings account.

Take An Insurance Plan: Please save lot of money, to assist themselves in their savings. Emergency fund is the ideal one for small activities like purchasing groceries, and others. Serious issues like accidental cases, disease, death, medical emergencies and others can be covered with suitable insurance policies. In the beginning, one can concentrate on taking a reasonable insurance policy with small premiums.

Purchase Everything: The first salary is always special and hence you will do two things with it. Save the salary and purchase certain things you always wanted to possess like Camera, Computer, Bike, cloths and others. 

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So, utilize your first salary in a judicious manner and make the experience a sweet thing to remember.

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MUTUAL FUNDS RATINGS IN INDIA

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India is the land of mutual fund schemes and policies. Mutual funds are usually misunderstood among various financial products in India. It helps in reducing investor related problems and do consist of pros and cons in India. 

We all know the fact the mutual funds is a unit, consisting of pooling of money of various investors with similar interest. Investing in mutual funds consist of the shares, debt markets and market securities in India.

Ratings of the mutual funds are very vital and it is done by agencies like Morningstar, CRISIL (Credit Ratings Information Services Of India Limited) that is a global analytical company offering the ratings, and the market research in a systematic and satisfactory manner. 

TWO BIGGEST MUTUAL FUND RATING SYSTEMS AVAILABLE IN INDIA:

There are two different kinds of mutual funds ratings systems available in India namely:

CRISIL Mutual Fund Ratings:  A unique method that is developed based on the global practices, done by CRISIL (Formerly Credit Ratings Information Services Of India Limited).  In the past 10 years, it has gained huge importance among various intermediaries, asset management companies and investors. 

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Customised Mutual Fund Rankings: Many personalised mutual fund rankings are available in India. This is done by advisory firms, wealth management and private banking companies in India. 

MEANS TO CALCULATE MUTUAL FUND RANKINGS IN INDIA

There are ways to calculate and rank the mutual funds rankings in India. They are given below as follows:

Performance Rankings:  One can select the mutual funds ranking in India in a logical fashion. You must track the performance of the mutual fund players in a systematic and satisfactory manner. One must also check the quarterly ranking (A unique procedure, giving information about way mutual funds performed against other kinds of funds). Ranking are beginning from 1 to 4).

Total Expense Ratio:  It is one of major parameter to be looked, while taking up any mutual fund scheme. There are various management and distribution related expenses borne under the total expense ratio. SEBI (Securities and Exchange Board of India) is checking the mutual fund’s total expense ratio in a systematic and satisfactory manner.

Time Period: Most of the ranking of the mutual funds are done using the performance of mutual funds for approx. 5 years.

Experience:  Mutual Fund companies in the market for 5 and more than 5 years will be taken into the considerations. Experienced players are given importance, while doing the ranking of the mutual fund companies.

Most of the ranking are calculated using the stock market fluctuations, portfolio allocations and other factors were considered while doing calculation of mutual funds. 

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