Personal Finance Magazine

Test Your Knowledge On Mutual Fund

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    1. Every mutual fund scheme/ SIP has 2 different plans "Direct" and "Regular"?
    2. Yes No
    3. "Direct Plan" gives 1.5% more returns than "regular plan" year on year?
    4. Yes No
    5. In regular plan this 1.5% goes to agent or advisor?
    6. Yes No
    7. Should this benefit of direct plan be given to investor's?
    8. Yes No
    9. In long run maturity value of SIP of Rs. 5000 in "direct plan" can be higher than maturity of regular plan?
    10. 50 Lacs
      75 Lacs
      1 Crore

    Common Mistakes in Personal Financial Planning

    Posted By :  admin  Posted Date : 02-09-2017  Last Updated: 07-09-2017

     Common Mistakes in Personal Financial Planning 

    The following are some of the common mistakes made by consumers in their approach towards Financial Planning

    Feel to be planned
    Don’t set measurable goals.
    Make a financial decision without understanding its affect on other financial issues.
    Confuse Financial Planning with investing or buying financial products.
    Neglect to re-evaluate their comprehensive life situation in one go.
    Think that Financial Planning is only for the wealthy.
    Think that Financial Planning is for when they get older.
    Think that Financial Planning is the same as retirement planning.
    Wait until a money crisis to begin Financial Planning.
    Expect unrealistic returns on investments.
    Think that using a Financial Planner means losing control.
    Believe that Financial Planning is primarily tax planning.
    Plan things in isolation, like – Insurance, Investments, Retirement, PF, etc

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