ALL >> Social-Community >> View Article
₹oopah Your Rupees! 9 Actionable Finance Tips For Every Lgbtq Indian
Welcome to FC’s LGBTQ space, where connections extend beyond the virtual. Every Wednesday from 9:00 PM to 10:00 PM, FC Financial Freeday (FFF) hosts important financial discussions. This blog consolidates perspectives and experiences shared by finance professionals during these sessions. Some insights come from answering questions anonymously posed by the FC community. While these insights aren't financial advice, they offer learning opportunities that may or may not apply to individual financial goals, as each person's financial journey is unique. LGBTQ Finance Professionals and Allies in Financial Freeday Before diving into community questions, our financial guests begin by sharing, "What did you do last week or since we last met toward financial freedom?"
1. Personal Finance for LGBTQ Folx in India One speaker shared his approach to managing personal finances, noting that LGBTQ individuals often have unique expenses. He emphasized the importance of documenting income, fixed costs, and discretionary spending. Using a Google Sheet, he tracks his balance sheet to plan investments, manage bonuses, and avoid overinvesting ...
... early in the year. He highlighted the importance of understanding expenses before making investment decisions, aiming to save at least 60-70% of his income.
2. Infrastructure Investments in India Another speaker discussed the government's plan to increase infrastructure funding by 40%. He mentioned transportation stocks like BBL and IRFC as examples and encouraged investors to consider infrastructure stocks or thematic mutual funds. He also shared insights on currency exchange markets and how global politics influences these sectors.
3. Updating Nominees for Mutual Funds A participant shared that he updated nominees for his mutual fund investments. This prompted a discussion about nominee rules, with a speaker clarifying that while it's optional to add a nominee, it's necessary to sign a declaration if one chooses not to. This process ensures that funds don’t remain unclaimed.
4. Management Analysis for Investments One FCer discussed his newfound knowledge of management analysis in companies, a critical yet often overlooked factor in investment decisions. He learned that evaluating management competence, transparency, and governance can impact a company’s long-term performance. Additionally, analyzing cash flow alongside profit statements provides insights into a company's financial health.
5. ELSS vs. PPF A participant shared her investment in ELSS to save on taxes, leading to a discussion on the benefits of ELSS versus PPF. ELSS offers higher potential returns due to its long-term equity investments but comes with higher risk. PPF, on the other hand, offers guaranteed returns with a 15-year lock-in period and no taxes on maturity. The choice between ELSS and PPF depends on an individual's risk tolerance and financial goals.
6. Diversification Strategies The importance of portfolio diversification was emphasized, suggesting that if someone invests annually, 70-80% should go into equities, with the remaining 20-30% split between debt instruments and safer options like PPF. This balanced strategy helps manage risk and maximizes returns. Community Questions
7. Profit Booking Strategies One participant asked about rules for booking profits. A common strategy mentioned was selling enough shares to recover the principal when stocks rise significantly and letting the profits continue to grow. Participants agreed that different stocks require different profit-booking strategies.
8. Bank Safety Concerns In response to a question about a bank offering high-interest rates, a speaker emphasized the importance of researching a bank’s financial health and ensuring it’s insured by DICGC, which protects deposits up to ₹5 lakhs.
9. Choosing the Right Bank When asked about the best bank for savings, speakers advised against choosing a bank solely based on interest rates. Instead, they recommended considering the bank's reputation, financial stability, and terms of service. Diversifying funds across multiple banks was suggested to mitigate risks. Conclusion FC Financial Freeday offers valuable financial insights for the LGBTQ community in India. While the blog captures highlights, joining the live sessions allows for deeper, real-time engagement. Do you have financial questions? Join us in FCverse every Wednesday from 9:00 to 10:00 PM, where we turn knowledge into action."
Add Comment
Social Community Articles
1. Bags & Accessories: A Must-visit Showcase At The 59th Ihgf Delhi Fair Spring 2025Author: Delhi Fair Spring
2. Hinduja Foundation Revives Hannikallu Marsh: A Beacon Of Hope For Water Conservation In Coonoor
Author: Mark B
3. M3m Antalya Hills Sector 79 Gurgaon
Author: Assetdeals
4. Comprehensive Guide To Ndis Social And Community Participation
Author: KevinKemp
5. Top 10 Hotel Loyalty Programs And How To Create Your Own
Author: Sameer Gupta
6. Vashikaran Astrologer In Sadashivanagar
Author: Vasudevpandith
7. Overcome Negative Energies: Master Krishna's Expertise In Witchcraft And Vashikaran
Author: Master Krishan
8. Black Magic Experts In Coimbatore
Author: Vasudev14
9. Creating Engaging Legal Webinars For Client Education And Lead Generation
Author: jamewilliams
10. How Social Media Marketing Can Transform Your Brand
Author: Mohit Patil
11. Social Security Disability Attorneys Near Me In Chicago: Ssdi And Legal Blindness
Author: johnhaddens
12. Mobile Networks Vs. Wi-fi: Comparing Connectivity Options
Author: Mobile Networks vs. Wi-Fi: Comparing Connectivity
13. How Social Media Content Creation Is Getting Easier With Ai
Author: Jeffery Harper
14. Freelance Digital Marketer In Kollam
Author: nishad12r
15. What Are The Best Short Sunday Morning Quotes?
Author: Godsyou