Travel Is The Perfect Catalyst For Happiness

A very simple question we often come across is reasons for traveling. Well, there’s no precise answer because the experiences you gather up are beyond words. The urge of wanderlust, meeting new people, experiencing new cultures or just a great relief from the stress of daily life. All may come as reasons for travel. However, honestly speaking, travel is something beyond that. Wondering why do people leave their comfort zone and travel to places unknown.

Why do people travel?

To escape from 9-5 life

Filled with adventure and surprise travel is a momentary break from the 9-5 life.

Your life might be stuck in a rut of daily routines; travel gives you an opportunity to step away from then. Our daily routines tend to lock us with a boxed mindset. We think the world is just office and home; a private vacation gives us an opportunity to think beyond.

We experience many things that are unknown to us; this helps in reviving our mind.

To learn

Whether it's learning about people, places or history travel gives us avenues into many different things. We are intrigued at everything new and unique. Travel helps us learn about rich cultures and different ways of life. Learning is not restricted to history; we learn to be better human beings with travel.

To get Active

There’s nothing more like an adrenaline rush. Unfortunately, our daily lives are more on the slow and steady line.

Being on the road, helps us relieve stress and raise our mood. Our body releases endorphins when we are active. Sometimes travel might be the only way you can free up your body from stress.

Travel lets us push our bodies to the limit.

To get a taste of Adventure

The sole reason why many of travel, the most exciting thing about travel is you’d never know what’s ahead.

Adventure is just not about finding a new place; it’s about hitchhiking, traveling with people you’ve never known, getting invited to stay with families, camping under the stars and much more.

Our craving for adventure is very well documented. From tasting Mangalorean fish to tasting masala chai at the base of Everest, you will have fun every step of the way.

Finally getting out on adventures will give you a sense of accomplishment.

To relax

Sometimes travel is not about escaping your problems. Who would want a private vacation in Ibiza right?

Each year, we need time to unwind and sit back a little. Travel can be for relaxation, for rejuvenation and to switch off from our connected lives.

What better to a tired mind than a sunny beach, clear blue skies, and calm water. Travel helps us refresh for the year ahead.

To find new challenges

We set the bar high when looking to satisfy personal desires.

Travel is just the solution for that. You can try something different rather than your work life. Travel makes us step out of our comfort zone and push ourselves to the absolute limit.

Maybe it’s hiking up a mountain; maybe it’s trying a new dish, or perhaps it's exploring a new city, you’ll get satisfaction when you complete what you are out to do.

Getting in sync with yourself

Everybody needs me time. A private vacation is the best way to get out of town and reflect on your life.

Time is plenty to take stock of what has been. Travel brings us front on with challenges and opportunities; the way in which we deal with them lets us know who we are.

Loving the unknown, understanding the world, experiencing scenery and nature, tasting new food, adventure…….travel gives you so many things. Hey! Travel makes you rich. It’s time to think and reflect.

New To Mutual Fund Investment? 5 Things You Should Consider

Mutual funds are a straightforward way to get into the share market industry. Mutual funds are also welcoming to, and the risk-return averages are much more on the safer side.

Mutual funds are an effective alternative to merely saving all your funds in fixed deposits.

Like every investment, there are a couple of things to look out for, while investing your hard earned money in mutual funds. The primary motive should be to find an excellent Mutual fund company to help you with managing your funds.

What you should keep in mind while investing in mutual funds:

1. The Product that you are investing in

The very first thing every newcomer investing in mutual funds should know is what kind of product or what type of fund he/she wants to invest in.

You can do it systematically by finding the right allocation method; you can also segregate your investments in various asset classes based on the risk. Our recommendation would be starting out with systematic monthly investments.

Start with 100% equity mutual funds, and then slowly move into debt mutual funds. The ideal ration would be 75:25.

2. Understanding the available investment options

Most mutual funds have three options built in, Growth, Dividend payout and dividend re-investment.

While a growth plan is the one mostly promoted as the wealth creation option, understanding the three options are good

Dividend options are good for people who would like to add liquidity to their funds. These may help in short-term benefits as dividends help in capturing the capital appreciation for a given period.

One thing to keep in mind is that Dividends are not guaranteed.

3. Understanding Tax.

Now, most young employees try to get into mutual funds just because they heard someone say that they are eligible for tax reductions once you invest in mutual funds.

When you invest in equity mutual funds, there is no immediate impact on tax unless you have a deduction to be claimed.

If you are not planning to take a deduction, there is no need to disclose any mutual fund investments. A reduction in tax will be based on the extent of investment made in relation to the taxable income of the individual.

4. Evaluating the timeframes.

Now, finding the right time to pull the plug on your funds is also important, you can opt for a shorter or more extended period based on the risk associated with your investment, this will require you to do some background research.

But a consultant from a good mutual fund company can help you out with that.

5. Don’t look for immediate profit.

While investing in mutual funds, you should not look for immediate gains, give your funds some time to understand the flow of it. Always look to compound your gains.

Playing the short term game will see you paying more for transaction charges and capital gains tax.

Planning To File Your ITR? Key Tips Before Filing Of ITR

The tax filing deadline has been extended this year up to 31st August 2018. Many of you must be busy preparing for the same. But very often we end up making mistakes which can put us in deep trouble. Here are some common mistakes that we must avoid while filing our IT returns.

Points to remember before Income Tax filing

1. Do not ignore taxation rules while filing ITR:

You must not make the mistake of ignoring the rules of taxation. One of the best examples about properties; say, a person has two or more properties in that case only one property will be considered as occupied by the owner. Other assets will be considered as rented. The person will have to pay the tax accordingly.

2. Report all sources of income:

You must not ignore income from any of the sources. While filing your income tax returns you need to consider income from your salary, the interest that you earn from your fixed deposits and savings account. If you miss out on considering income from any source and the income tax department traces this source of income then you can get a notice from the department. You will then have to give an explanation for the same to the IT department.

3. Personal details need to be updated:

If there is any change in your personal details like your address or your mobile number, then you need to mention the same while filing the returns. Some people make the mistake of not updating these details while filing the returns.

4. Mismatch in Form 16 and Form 26AS:

If there are any discrepancies or any disparity in the details mentioned in the Form16 and Form 26AS even then you can get into trouble. Check the figures in both the forms and make sure that all correct information is provided in both the forms.

5. Mention correct deductions:

Check properly that you have mentioned the correct deductions. It is also important that you mention the deductions under the correct heading.

6. Tax filing should not be delayed:

Under any circumstances you must not delay the tax filing. Make sure that you file your returns before the deadline. From this assessment year penalty will be levied if you file your returns after the due date. If you file the returns after the due date and by 31st December then there will be a penalty of Rs 5000/- and if the returns are filed after 31st December then there will be a penalty of Rs 10,000/-

7. Select right ITR form

While selecting the ITR form be careful to select the right one. This is because different sources of income have different ITR forms.

While filing the assessment year even a minor mistake can lead to redundant future hassles. Remember, Assessment year is the year subsequent to the financial year for which you calculate your income and pay taxes. Say, for the financial year (FY) 2017-2018 your assessment year (AY) will be 2018-2019.

Hey! Your assessable income exceeded 5 lakh, well, it becomes mandatory for you to e-file your tax return. There are few general mistakes which may take place while filing your income tax return. To stay away from all these problems it is better the get ready for your IT returns well in advance and file your returns ahead of the due date.

Aim to achieve financial discipline with SIP

It is important to have a financial goal in your mind. You need to follow a systematic approach. Systematic Investment Plan or SIP is a way in investing in mutual funds in a systematic way so that you can achieve your financial goals. In SIP investments your funds will be directed in equity and debt schemes. SIP helps you invest on a regular basis so that you can generate income in the long run.

Benefits of investing through SIP:

• Option to invest small amounts:

  SIP does not out any burden on you. You can invest small amounts on a regular basis. You can make daily, weekly or monthly investments depending on the amount of money that you have. It is possible to invest as low as Rs 500 in these type of investments.

• Market timing not important:

  Markets can be volatile, but SIP’s are a great way to manage the market volatility as well. In the long run you will find that equities are much better as compared to even gold and real estate. The only important thing is that you need to select the right mutual fund and your timing of investment has to be right. The investor needs to invest for a long time. This will help in managing the market volatility with ease.

• The rupee cost averaging aspect:

  With SIP you get the rupee cost averaging advantage. When the prices are low you can buy more number of mutual fund units. When the prices are high you can buy less mutual fund units. With SIP you can reduce the average cost of your investments.

• The compounding advantage:

  With SIP the investor is investing on a regular basis. The investor gets the advantage of compounding. The wealth will multiply and that too in a systematic way. Now this is something that might not be possible if you were to invest a huge amount in one go.

• Helps in goal planning:

  Short term gains are not going to help you. You need to have long term goals. All of us have financial goals and if we want to achieve these goals then we need to make planning in a systematic way. SIP’s can be one of the best ways of achieving this. Many investors ask the question when to start investing? The answer is simple. You always need to start as early as possible. This will make it much easier for you to achieve your financial goals. .

Some myths about SIP’s:

• Many people feel that SIP is only for small investors. This is not true! All those who want to invest regularly and create wealth can invest in it.
• People feel that SIP mutual funds and lump sum mutual funds are two different things. This is not true. SIP refers to only a way of investing.
• People also have this myth that they cannot make lump sum investments in a scheme where they have an SIP account.
• Investors feel that they will get penalised if they miss SIP dates. This again is not true.

Enhance the effectiveness of your financial planning with SIPs!