Now that the turbulent year 2020 is behind us, there is renewed hope and enthusiasm across the world. Here is wishing all our readers and investors a lovely, safe and happy New Year 2021! Warm wishes from the Shanthala team! We promise to keep your financial well-being as our top priority in the coming years too, as always.
We would like to see all our investors – entrepreneurs, home makers, senior citizens, IT professionals and the youth – prosper in the New Year with financial stability and excellent returns on investment. We thought the best New Year message to all our readers would be a quick reference guide on useful financial tips for the year ahead. So here are our suggestions …
- Where to invest in the New Year? Of course in Shanthala Chits! Chit funds are indeed one of the most attractive investment options today. With a wide variety of schemes available for different budgets, they are suitable for a whole range of planned investments. Beginning in the month of January, Shanthala Chits has schemes starting from Rs 6000 per month up to Rs 100000 per month. For decent returns on investment and quick liquidity of your funds, Chit Funds are indeed ideally suited.
Shantala Chits is in the business of chit funds for over 2 decades now. We are a Government approved chit fund company with a 24-year successful track record and thousands of satisfied customers. Shanthala Chits is registered under the Chit Fund Act of 1982, Government of Karnataka. We are one of the most popular chit fund houses based out of Bengaluru, known for our customer satisfaction and secure investments.
- Home purchase makes plenty of sense. With the bank lending rates at rock bottom, there has never been a better time to enter the real estate market. The Government of India is greatly incentivising home purchases with excellent tax rebates, especially for first time buyers. Even a second home purchase is being encouraged, as an added investment. The Coronavirus pandemic has caused a temporary lull in the property market, due to job uncertainties and migrations out of cities. This has further brought the real estate market rates down. The RERA government regulations have brought much needed security and reliability into this sector. So this is definitely a great time for a home buy!
- Partly redeem your equity shares and mutual funds. When the markets are booming, it’s a good time to cash out some of your investments, especially those held over a long term (2-3 years and above). Whether you are holding large cap/mid cap equity shares or equity mutual funds, the stock prices of almost all sectors are at an all-time high. You can even re-invest in the same stock holdings a little later when the inevitable lows strike. For now, booking a profit is certainly a good idea. You might want to retain a portion of each stock holding, and sell only one part, just in case the bull-run continues. That way, you can have your cake and eat it too!
- Lesson learnt from 2020, set aside emergency funds. After the harsh lessons learnt from the pandemic crisis which left every citizen affected in one way or another, an important corrective action we need to take for 2021 is planning for contingencies. Whether it is a health crisis, a temporary job loss or slump in the business, we need access to emergency funds for tiding over. So that the family expenses are met, the working capital for businesses is available. Emergency funds must be held in an easy liquidity instrument. A chit scheme is also one of the suitable ways to park emergency funds.
- Make a start with managing your finances online. If you are not already onto the online bandwagon, make a start in 2021. Get online access for your banking accounts. Learn to use mobile wallets (only trusted ones) for digital / ecommerce payments. Share trading on new age online platforms is much simpler and quicker. Begin making your insurance premium payments online. Youngsters can help the elders in the family to set up their online accounts and hand hold them during the learning phase. Especially women and senior citizens can unlock the potential of online financial management for ease of living. Keeping up with the times, Shanthala Chits has also brought in online transactions for easy investor access. Such as making monthly contributions online or attending the monthly meetings through video conferencing.
Signing off 2020 on an optimistic note. Happy New Year everyone!
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