PM Modi delivered his #FightAgainstBlackMoney speech on the night of 8th November 2016. Life just has not been the same since then. Long queues at banks and for daily essentials; arguments over legal tender and acceptance of old currency notes, have become routine. Money has become scarce.
“Cash is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent” says Warren Buffet.
So, the question on everyone’s mind is, how does one manage ones money during temporary crisis like these.
What is Money Management?
Money management is expenses tracking, it is investment (both short term and long term), it’s also banking and tax management.
Tracking one’s expenses helps keep your expenses at a manageable level and alert you in case your expenses are likely to cross your income.
A simple log of both income and expenses for a day or week or month can be prepared. There are online software and apps where you input your budget information to monitor and compare the expenses incurred during a selected schedule.
Typical fixed income securities include bonds, recurring deposits, fixed deposits, mutual funds and provident fund accounts. The returns for these are good with a lesser margin for risk. With, or without, demonetization it is a good option to have some funds in fixed income securities.
The unexpected cash crunch brought on by demonetization along with the stock market dive would have you thinking twice about en-cashing any of your investments now. But then, how do you manage the situation? Simple, borrow funds through Loan Singh to tide over this period. We offer loans as low as Rs.50,000 and tenure ranging from 3 to 36 months.
Real estate has always been a preferred investment option for most of us and requires a high amount of investment, with minimal liquidity and returns that can vary based on the location and changes in regulations.
Now, with demonetization, the real estate industry has taken a huge blow. Part payments in cash are no longer an option and both buyers and real estate firms are wary of such transactions and the possibility of tax scrutiny.
As a Lender with Loan Singh, we offer a transparent process and the opportunity to earn faster returns on your investments, as borrowers deposit monthly installments directly into your account.
With cash in short supply, using UPI, online wallets, cheques, demand drafts, NEFT, RTGS and net banking is the smart way to access just the funds you need per transaction.
Loan Singh is your digital lending platform. Invest your idle cash and earn high returns when you lend through Loan Singh. As a Borrower get easy and quick loans with minimal documentation and a simple, online application process.
Loan Singh is here to help!
Should you need financial assistance during this transition time, apply for quick and easy loans from Loan Singh at www.loansingh.com. We offer loans for Medical treatment & emergencies, travel, gadget purchase, family celebrations and almost any other reason you can think of.
Loan Singh’s digital lending platform introduces lenders and borrowers to each other. Credit-worthy borrowers are selected with the help of our ‘Seynse Score’. Borrower profiles are shared with Lenders and they decide who they would like to lend to. Both borrowers and lenders can track their EMI status on personal online dashboards.
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