Protect your Loved Ones - Remember, tax saving is a side benefit and not the reason to buy life cover. We hate to be the ones to say it, but should you not be alive at this time next year, think of how much your family should get.
Invest in Health - Whether petrol prices rise or fall, you can be certain medical expenses will only keep rising. Research shows average treatment costs for cancer in Mumbai costs Rs. 6-lakhs plus, muscle injuries and fractures costs over Rs. 4 lakhs, while dengue and malaria can cost Rs. 1 lakh or more to cure.
Get Smart with Real Estate - Did you know living on rent in a posh locality may be smarter than purchasing a house there, if the expected property appreciation is less than 5% yearly?
Or with a 0.5% reduction in Home Loan Interest rates you could save over Rs. 40,000 annually?
It’s never too early to start saving for retirement or your children’s education - If you start early enough, even a monthly investment of Rs. 5,000 can work wonders!
And remember to always avoid outright silly mistakes, like not paying the full amount due on your credit card, or taking a high interest debt while having funds available in your bank.
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