Akash Pandey

3 days ago | newsbytesapp.com | Akash Pandey

The real beauty of compound interest is that it grows your wealth exponentially over time. By reinvesting the interest you earn into the principal, you let your investment earn more returns in the coming periods. For instance, if you invest ₹1,00,000 at an annual interest rate of 5%, compounded annually, you would have around ₹1,62,889 after 10 years. See how your amount grows with time! Starting early is the key to maximizing the benefits of compound interest.

3 days ago | newsbytesapp.com | Akash Pandey

Home / News / Business News / Why financial literacy is key to navigating rising inflation Inflation eats away at your purchasing power by driving up the cost of goods and services over time. When people are financially literate, they can understand how inflation impacts their day-to-day expenses and long-term savings. This knowledge allows them to modify their budgets accordingly and focus their spending on essentials, while trimming non-essential purchases.

3 days ago | newsbytesapp.com | Akash Pandey

Home / News / Business News / Risk management basics everyone should know for smarter financial decisions The first step toward effective risk management is identifying potential risks. Financial risks can stem from a variety of sources, like market fluctuations, economic downturns, or interest rate changes. By identifying these risks early on, one can develop strategies to mitigate them.

3 days ago | newsbytesapp.com | Akash Pandey

Home / News / Business News / Effective strategies to manage and reduce debt for better finances A realistic budget plan is key to reducing debt effectively. Begin by writing down all your sources of income and expenses to get a better assessment of your finances. First, dedicate money toward necessities like housing, utilities, groceries, transportation, etc. Follow that with a portion set aside for savings and debt repayment.

3 days ago | newsbytesapp.com | Akash Pandey

What's the story Managing personal finances can be tricky, especially when you make common budgeting mistakes. These errors can cause unnecessary financial stress and prevent you from achieving long-term goals. Knowing these pitfalls is important for maintaining a healthy financial life. Today, we list five common budgeting blunders that people often come across and how to avoid them. Recognizing these mistakes can pave your way to better financial management and stability.