Search Results

The most desired time of the year is vacation since it helps you to escape the monotony of daily life. When you're on a trip to a new country, you want to take advantage of the opportunity to buy and see new things. However, the trouble of carrying foreign cash might diminish this exhilaration. So how can you keep your money safe? Traveller's cheques were once the norm for regular fliers, but now there are a variety of more handy solutions available. Because of the ease and security they provide, forex cards and foreign debit cards are the most popular options for overseas travellers. However, what distinguishes them from regular cash? Listed below is a full analysis of the three most prevalent methods of transporting cash when travelling abroad. Traveling Abroad with Cash Pros: There are several advantages to bringing cash on a journey to another country. Giving tips or paying for a short-term cab journey with free cash is a common occurrence. There is no need to keep track of a password or PIN, or to visit an ATM frequently. It is also widely recognised and does not impose additional fees. Cons: Cash, on the other hand, is extremely vulnerable to theft and there is no way to reclaim the stolen funds. A cross-country trip will need you to endure long lines and pay a charge at each airport to convert money. The Pros and Cons of using Forex cards. Pros: Forex cards are the currency of choice for many frequent fliers, and they're correct. They are the safest method of transporting foreign cash since they are encased in a variety of firewalls. Frequent flyers like their wide acceptance, stable exchange rates, and ability to store different currencies. If you've had a debit or credit card stolen in a foreign country, does it discourage you from using plastic there? Well, owing to the multi-security levels of Forex cards, you may now carry several currencies in your wallet without a care in the world. Cons: User ID and password are required to access multi-currency Forex cards offered by IndusInd Bank. SMS notifications and rapid hot-listing of the card are also provided in case of theft. Forex cards have very few, if any, drawbacks. International travellers love them because of their ease of use, multi-currency functionality, strengthened protection, set conversion rates, and wide acceptance. The Advantages and Disadvantages of Debit Cards: Pros: Debit cards are the most convenient way to get cash when travelling abroad. Using a debit card to withdraw cash from ATMs throughout the world is a simple way to supplement your income while on vacation. The best exchange rate is guaranteed when using a debit card, so you don't have to worry about blowing a hole in your wallet from hefty conversion rates. Cons: There's a snag, of course. As currency conversion rates fluctuate often, using a debit card means you'll have to keep track of the most recent prices. Furthermore, unlike Forex cards, these cards do not have anti-theft features, and each transaction costs a lot of money. As a result, carrying a debit card may further complicate your plans if you run out of cash and must go for ATMs to withdraw money.

Which type of travel insurance, single or multi-trip, do you actually need? The regularity with which you travel has a significant impact on the type of travel insurance you should get. For example, if you are a sporadic traveller who only travels once or twice a year, a Single Travel insurance coverage is the best option. Alternatively, if you travel frequently for business, pleasure, or both, the Multi-trip Travel insurance coverage may be the more cost-effective solution for you. Travel insurance for a single trip To comprehend what single trip travel insurance is, we must first comprehend what single trip means. The duration of a single journey is defined as the time when a traveller departs India and returns to India. Stays active for the duration of a single journey, from the time it begins to the time it finishes. A single trip's maximum duration is often 180 days. Travel Insurance for Multiple Trips Now that we've covered what a single trip travel insurance is, it's time to look at multi-trip travel insurance. This type of travel insurance is also known as annual travel insurance, and it lasts for a year. During that time, the traveller can take as many single trips as he or she wants as long as the duration of any of the single trips does not exceed 30 or 45 days. If you travel regularly, multi-trip insurance save you money and the trouble of having to apply for a coverage each time you travel.

BMI is frequently utilised these days, when everyone appears to be talking about fitness. However, the majority of us are unsure what BMI is. Allow us to make things easy for you. The BMI, or Body Mass Index, is a weight-to-height ratio. It is calculated by dividing the weight in kilogrammes by the square of the height in metres. This ratio is used to determine if a person is overweight, obese, or underweight. How do you calculate BMI? There are three easy methods to calculate BMI- The BMI calculation formula You can easily calculate the BMI manually using the following formula. The BMI calculation formula = Weight of the person (in kg)/(Height of the person)2 (in m2) A BMI which is less than 18.5 signifies you are underweight. A BMI between 18.5 and 24.9 is normal for a healthy adult. A BMI that is between 25 and 29.9 signifies that you are overweight for your height. A BMI that is beyond 30 indicates that you are Obese. Body Mass Index charts A simple way to know where you stand is to refer to the BMI charts for men and women. The BMI charts have weights listed horizontally at the top and heights on the side, vertically. You can easily find the ideal BMI for your height and the ideal weight. Also, you get to know how much at risk you are for weight-related diseases. What effect does your BMI have on your insurance premiums? Your BMI is a measure of how healthy you are. A higher BMI puts you at risk for coronary heart disease as well as other illnesses such as diabetes and other weight-related ailments. Moreover, the expense of medical care as well as the medication required for such disorders is significant. BMI is used by insurance companies to estimate how much your premium should be. The reason behind this is easy to understand. It has a direct impact on your rates if they expect that your medical expenses will be higher. The bigger your outlay, the higher your premium. It's important to remember that these numbers are only a proxy for your overall health. They are not, however, legally obligatory or conclusive. Athletes or those who are exceptionally fit, for example, may have a high BMI. In this situation, the excess weight could be attributable to muscular mass, and they are not considered overweight or obese. As a result, while BMI is good, it is only one of several factors that go into determining how healthy you are.

What is Term Insurance and How Does It Work? A term insurance plan is a type of life insurance that provides financial protection to the policyholder for a set period of time. The death benefit is paid to the beneficiary if the insured person dies during the policy period and while the policy is active. Furthermore, because term insurance policies have no cash value, they are much less expensive in the beginning than permanent life insurance policies. To put it another way, the only value of term insurance plans (pure life insurance) is the guaranteed death benefit received by the beneficiary, whereas other life insurance plans, often known as endowment plans, include a built-in savings component. As a result, term insurance policies are more simple and less expensive than other types of life insurance. When compared to endowment plans, this allows policyholders to pick a bigger life cover at lower rates. Furthermore, while many term policies have fixed premiums for the duration of the policy, others have benefits that increase or decrease over the course of the policy's term, as well as the opportunity to convert the term policy to a permanent insurance plan. Term insurance policies come in a variety of shapes and sizes. Other than level term plans, policyholders can choose from a variety of term policies according on their specific needs. Convertible term Convertible term plans allow policyholders to change their term insurance policy, which may still be valid for a few years, into a permanent insurance policy. Increasing the Duration After a certain amount of time, only a few policies allow policyholders to enhance the death benefit. While the rates may rise as a result, policyholders will initially pay cheaper premiums. Mortgage Term Decrease In a declining term (also known as a mortgage term) insurance, the coverage lowers at a specified rate over the term. The rates are normally consistent throughout the term (and are less than term policy premiums), with the coverage reduction occurring monthly or annually. Renewable  Plans for the Year Annual renewable term plans ensure that coverage is approved every year, whereas term insurance policies are renewed each year with increasing premiums. These plans, however, do not have to be cost-effective for all policyholders, with costs rising over time. What exactly are riders? Term insurance riders are additions or attachments to a term insurance policy that provide additional coverage to the policyholder and so increase the policy's usability. Aside from the death payment provided by the term insurance policy, riders provide a number of additional benefits. While most term insurance plans have riders, the cost and terms of those riders vary depending on the term policy, premiums, and company. Furthermore, certain riders are included as part of a package deal with term insurance plans, while others must be purchased separately by policyholders by paying additional premiums. Riders' premiums are often lower than those for term insurance plans, and their sum assured is also lower than that of the insurance cover. When acquiring a term insurance policy, there are six significant riders that provide additional advantages to policyholders. Death Rider by Accident If the insured dies as a result of an accident during the policy term, this rider pays the beneficiary an additional sum assured based on the term plan's original sum assured. The percentage of the additional payment may differ from one business to the next, and the maximum value assured on the accidental death rider may be capped. The premium, on the other hand, remains constant during the policy period. This rider only applies in the event of an accident; if the insured dies for any reason other than an accident, the beneficiary will get the sum assured by the term plan. Rider of Critical Illness Critical illness riders protect policyholders against serious illnesses like as cancer, heart attack, kidney failure, and paralysis, to mention a few, that would otherwise necessitate excessive medical costs. If a policyholder is diagnosed with a medical disease that is pre-specified in the policy, these riders recompense them with a lump sum payment. As a result, it is critical that the policyholder carefully reads the policy contract and is aware of the illnesses covered by the rider. Rider for Accelerated Death Benefits The accelerated death benefit rider allows the policyholder's family to receive a portion of the sum assured in advance, which can be used to cover medical bills, if the policyholder chooses it and is diagnosed with a terminal disease. This low-cost rider defines the proportion of the sum assured that will be paid in advance, with the remaining amount going to the beneficiary after the policyholder's death. Rider for Accidental Disability Benefits The disability benefit rider protects the insured in the event that they become partially or permanently incapacitated as a result of an accident. For a period of five to 10 years after the accident, most policies reimburse the crippled policyholder a portion of the total assured. As a result, these riders might be viewed as a source of income for the individual and their family. This rider is frequently combined with the accidental death rider, and it only applies if the policyholder is crippled as a result of an accident. Premium Rider Waiver This rider is useful if the policyholder is unable to pay premiums due to disability or loss of income. The coverage stays active while future premiums are waived with this rider. Without the rider, the policy will expire if the insured is no longer able to pay premiums due to a loss of income or a disability, and the beneficiary would not get a death benefit. Rider for Income Benefits This rider is intended to provide income to the policyholder after his or her death. Apart from the sum assured in the term plan, the policyholder's family would get additional income every year for the next five to ten years after the insured's death if this rider is included in the insurance plan. When compared to other life insurance policies, term insurance plans have become popular due to their affordability and reduced rates. Riders allow policyholders to protect their family members' futures in the event of a terrible accident that results in a partial or permanent disability, or death.

SaveIN, a consumer credit-focused fintech platform, has introduced an offline BNPL product called 'Care Now Pay Later' for financing need-based healthcare bills at physical locations of care (CNPL). According to their news release, BNPL's present offerings are mostly limited to financing online purchases in impulse-driven sectors such as clothes, cosmetics, electronics, food, and so on. SaveIN has partnered with over 100 healthcare providers in Delhi, Gurgaon, and Noida to make healthcare more accessible and inexpensive. Dental, Eye Care, Veterinary, Diagnostics, Dermatology, Hair Clinics, Fertility, Physiotherapy, and Fertility are among the key health categories addressed. SaveIN's goal, according to the company, is to make quality treatment more affordable by allowing individual healthcare providers from various categories to offer rapid, point-of-care flexible payment alternatives, resulting in a more integrated healthcare finance ecosystem. This new product. SaveIN is dedicated to providing Indians with on-demand credit and flexible payment alternatives, enabling quick and high-quality healthcare for all, regardless of condition. SaveIN would offer 100 percent digital, customizable delayed payback choices at points of care across the country, thanks to a trusted, vetted, and rapidly developing partner network. With CNPL, you may get healthcare items and services at no cost from providers near you." According to them, the CNPL by SaveIN payment option would allow patients to split medical expenditures into tiny monthly instalments with little or no cost. The entire procedure will be paperless, and the organisation has developed a one-of-a-kind integrated client application and evaluation process.

What does Section 80D entail? Section 80D allows any individual or HUF to deduct medical insurance premiums paid in any given year from their total income. Top-up health insurance and critical sickness plans are also eligible for this deduction. The advantage is accessible not just for purchasing a health insurance coverage for yourself, but also for purchasing a policy to cover your spouse, dependent children, or parents. The nicest aspect is that it goes above and beyond the Section 80C deductions. Who is eligible for a Section 80D deduction? Individuals and HUF taxpayers are the only ones who can deduct medical insurance premiums and medical expenses for older persons. Individual or HUF taxpayers can get insurance for: Self Spouse Children who are reliant Parents This deduction is not available to any other entity. A company or a firm, for example, cannot claim a deduction under this clause. Payments that qualify for a Section 80D deduction Section 80D allows an individual or a HUF to claim a deduction for the following payments: A medical insurance premium paid in any form other than cash for oneself, one's spouse, one's children, or one's dependant parents. Expenses incurred as a result of a preventative health check-up Medical costs incurred on the health of a senior adult (60 years or older) who is not covered by a health insurance plan. Contribution to the Central Government's health scheme or any other government-approved scheme. Deduction available under Section 80D Individual For self-insurance, spouse insurance, and dependent children insurance, an individual can claim a deduction of up to Rs 25,000. If your parents are under the age of 60, an additional/separate deduction of Rs 25,000 is available, and if they are over 60, an additional/separate deduction of Rs 50,000 is allowed. If both the taxpayer and his or her parents are over 60 years old and have medical insurance, the maximum deduction available under this clause is Rs 1,00,000. Senior citizens over the age of 60 are classified as elderly and extremely senior citizens. HUF A HUF can claim a deduction for a mediclaim paid for any of its members under Section 80D. If the insured member is under 60 years old, the deduction will be Rs 25,000; if the insured is 60 years old or above, the deduction will be Rs 50,000.

Indians may now receive remittance money from overseas sources in a far more convenient manner, thanks to a partnership between IndusInd Bank and the National Payments Corporation of India (NPCI) to simplify cross-border money transfers utilising recipients' UPI IDs. This eliminates the need to recall one's bank account information in order to send money. IndusInd Bank has partnered with the National Payments Corporation of India (NPCI) to provide its money transfer operator (MTO) partners real-time cross-border remittances to India using UPI IDs, the bank said on Monday. IndusInd Bank has made history by being the first Indian bank to implement UPI for cross-border payments and NRI remittances. To begin, IndusInd Bank has established a partnership with Thailand for foreign inward remittance (FIR) using UPI and DeeMoney. DeeMoney is a Thai-based financial solutions firm that specialises in money transfers and currency conversion. It is simple to transfer payments by entering the UPI IDs of the beneficiaries in India on the DeeMoney website.

Contributions to certain relief funds and charity organisations can be deducted under Section 80G of the Income Tax Act. However, all donations are not qualified for Section 80G deductions. Only gifts to specified funds are eligible for a tax deduction. This deduction is available to all taxpayers, including individuals, corporations, partnerships, and other entities. What is the mode of payment? This deduction is only available if the contribution is made in the form of a check, draught, or cash. Food, material, clothing, medications, and other in-kind contributions do not qualify for a Section 80G deduction. From the 2017-18 financial year forward, any cash donations above Rs 2,000 will not be accepted as a deduction. To qualify for a deduction under Section 80G, donations over Rs 2,000 must be given in any method other than cash. Previously, the maximum monetary donation was Rs 10,000. Donation Amount: The different donations listed in Section 80G are eligible for a deduction of up to 100% or 50% of the donation amount, with or without restrictions, as indicated in Section 80G. How to Take Advantage of the Deduction To claim this deduction, you must include the following information in your income tax return: The donee's name The donee's PAN The donee's address Amount of donation – the breakdown of cash and other modes of contribution The amount that can be deducted Donations are available for a full tax deduction without any limitations. The Central Government established the National Defense Fund. National Relief Fund of the Prime Minister The National Foundation for Communal Harmony is a non-profit organisation dedicated to bringing communities together. An eminent national university or educational institution that has been approved. In any district, a Zila Saksharta Samiti is formed under the chairmanship of the Collector. A state government-created fund for poor people's medical care. The National Illness Assistance Fund is a non-profit organisation that helps people who are Any State Blood Transfusion Council or the National Blood Transfusion Council is a good place to start. The National Trust for the Welfare of People with Autism, Cerebral Palsy, Mental Retardation, and Multiple Disabilities is a non-profit organisation dedicated to improving the lives of people with autism, cerebral palsy, mental retardation, and multiple disabilities. Fund for National Sports National Endowment for the Arts The Technology Development and Application Fund is a non-profit organisation dedicated to the advancement of technology National Children's Fund With respect to any State or Union Territory, the Chief Minister's Relief Fund or Lieutenant Governor's Relief Fund Andhra Pradesh Chief Minister's Cyclone Relief Fund, 1996, Army Central Welfare Fund, Indian Naval Benevolent Fund, or Air Force Central Welfare Fund Between October 1, 1993, and October 6, 1993, the Maharashtra Chief Minister's Relief Fund Maharashtra's Chief Minister's Earthquake Relief Fund Any fund established by the Gujarat State Government solely for the purpose of providing relief to earthquake victims in Gujarat. Section 80G(5C) applies to any trust, organisation, or fund that provides help to Gujarat earthquake victims (contribution made during January 26, 2001, and September 30, 2001) Armenia Earthquake Relief Fund of Prime Minister Serzh Sargsyan Fund for Africa (Public Contributions – India) Swachh Bharat Abhiyan (Swachh Bharat Abhiyan) is (applicable from FY 2014-15) Clean Ganga Fund is a non-profit organisation dedicated to keeping the (applicable from FY 2014-15) National Institute on Drug Abuse's National Institute on Drug Abuse's National Institute on Drug Abuse' (applicable from FY 2015-16) Donations are allowed for a 50% deduction without any restrictions The Jawaharlal Nehru Memorial Fund was established in memory of Jawaharlal Nehru. Drought Relief Fund of the Prime Minister Indira Gandhi Memorial Trust is a charitable organisation dedicated to the memory of Indira The Rajiv Gandhi Foundation is a non-profit organisation Donations eligible for a 100% deduction are limited to 10% of adjusted gross total income Donations to the government or any other approved local authority, institution, or group for the purpose of promoting family planning. Donation or sponsorship of sports and games in India by a firm to the Indian Olympic Association or any other notified association or institution created in India to develop infrastructure for sports and games in India.

The terms and conditions of car insurance plans differ from one policy to the next. However, such exclusions are frequent, so read the policy materials thoroughly before purchasing to prevent any unpleasant shocks during the claim settlement process. A car insurance policy protects the owner of the vehicle against covered financial losses resulting from damage or theft of the insured vehicle, according to the terms and conditions of the policy. Vehicles in India are classified into three categories: two-wheelers, private vehicles, and commercial vehicles. Exclusions, on the other hand, are particular circumstances or situations that the insurance policy does not cover. Breakdowns, consequential loss, wear & tear, and other exclusions are typical. Furthermore, without a legal licence, no policy claims will be considered. If an accident occurs while the rider is under the influence of alcohol or drugs, the insurance coverage will not cover the mishap. Vehicle breakdown due to aged mechanical or electrical failure is also not covered. External causes such as war and terrorist strikes are not covered by a two-wheeler automobile insurance coverage.

If we could, we'd like to be able to repay all of our debts in full and immediately. The great majority of people in the world, however, must use a bank to finance their automobile purchase. Getting a car loan might help you realise your ambition of owning your own vehicle. They are tailored to meet your individual financial requirements. In a world where many individuals take out loans, knowing whether to go with a short or long term on a car loan is critical. Taking Out a Short-Term Loan Has Both Benefits and Drawbacks. Benefits: Paying off your debt in a shorter amount of time than you would with a long-term auto loan is a huge relief and pride for many people. The depreciation value of the vehicle is something that many individuals fail to consider when applying for a car loan. To avoid paying more for your automobile than it is actually worth in the long run, be sure to shop around. In most circumstances, the short-term loans will help you avoid this issue and increase the worth of your automobile when you decide to sell it. Drawbacks: Due to the high interest rates and high monthly payments associated with short-term auto loans, these loans are not ideal for those who need to purchase their vehicle quickly. Taking Out a Long-Term Loan Has Both Benefits and Drabacks. Benefits: You may be able to buy a more costly automobile if you choose a long-term repayment schedule for your vehicle. When it comes to long term vehicle loans, reduced monthly payment choices are usually available. Drawbacks: Conversely, you'll be stuck paying off your automobile for a long time, which will reduce its market value when you do get around to paying it off. You'll have to pay back your auto loan over an extended period of time and at a high interest rate if you get one of these loans. Conclusion: The decision-making process for a vehicle loan involves weighing several different aspects. Short-term vehicle loans appear to be the most popular choice for customers, since you pay less interest, your debt is paid off more quickly, and your car retains its value. One must, however, ensure that their coat is tailored to fit the fabric they are using. Choosing between a short- and long-term auto loan is an important first step once you've decided to get a loan to pay for your ideal car. However, it's always a good idea to make an informed financial choice before making a final selection.

● Watch forex rates, compare them and choose the right channel If you’re yet to fly out, a basic yet significant step is to keep an eye on currency rates and compare them. Many vendors provide currency conversion services, and you must monitor the rates they offer. We know that forex exchange rates change quickly, and they usually also differ among banks and money changers. So keep yourself fully aware of the fluctuation and buy foreign currency when the rate is low. Not to forget, online forex marketplaces give you better value for money as they are constantly competing with each other. ● Open a bank account abroad An overseas bank account will help you save money on forex exchange, especially if you will be abroad for more than a year. Several universities have designated staff who help international students open a bank account locally. Typically, here are some things that you would need to open an account as a student in another country: - Passport with relevant student visa - A photo ID other than the passport - Proof of residence - Proof of enrollment in a university - A certain amount of money, or minimum balance (this varies from bank to bank) Opening a local bank account will not only help you save on frequent conversion fees you pay every time you use your account from back home, it also helps you get your paychecks quickly if you decide to start a part-time job. ● Look for the high remittance charges Whether you choose to transfer money through a bank, an Authorised Dealer II (institutions authorized by the Reserve Bank of India to sell and buy foreign currencies), or an online marketplace, a remittance charge will be involved. This can vary from Rs 250 to Rs 2000. So, keep an eye on the fee and choose the channel that offers you the best rates. You can also transfer your money via neobanks (digital banks that are creating a buzz in the FinTech community), which might offer you the best exchange rate and zero transfer charges. Not only are they convenient to use, but the transactions are also easier and transparent. ● Use a Forex Card and look out for hidden costs Another way of saving money while making transfers or exchanging currency is to use a Forex Card. Not only are these pin-protected prepaid cards among the safest ways to carry foreign currency, but they are also accepted at almost all the places that accept Visa/Mastercard. One of the best things about a Forex Card is that you don’t have to worry about fluctuating exchange rates. Why? Because the foreign exchange rate prevalent during the time of your purchase will be locked. So, buy it when the rates are low. Forex cards are convenient and flexible as you can reload them at any time. All you need is a laptop or a smartphone and money in your account to make the transaction. But, although they come with an insurance cover, you can lose a lot of money under the label of hidden charges like ATM withdrawal charges and balance enquiry charges, to name a few. So, keep an eye on the fine print. Even though all of this can sound overwhelming at first, remember that even a slight change in the currency rate can impact the final output to a great deal. So, make sure to keep the pointers mentioned above in mind, and you’ll be good to go.

If you have trouble paying your bills on time or are constantly concerned about when the next assignment will arrive, you need to improve your money management abilities. Here are crucial money management recommendations for those who have recently entered the realm of freelancing, such as yourself: 1. Examine your monthly earnings: As a freelancer, you may not be paid on a monthly basis, and your clients may defer payments for weeks or even months. Furthermore, unlike a traditional work, there is no guarantee of a long-term pay out because your clients can decide to end the project at any time. As a result, you should be financially prepared to tackle any issues that may arise. The main aspect here is to review your monthly income. You can't plan your budget or your savings if you don't know what's coming your way. 2. Separate accounts are required to stay organised: A freelancer should have a specialised account to receive his remuneration, similar to how office workers have a salary account. Mixing personal and work-related cash is a sure-fire way to get into financial trouble. You may also neglect to assess your financial situation. You can start arranging minor investment plans like an RD or a SIP, as well as bill payments, with a dedicated account for your payments 3. Setting aside money for rainy days: Because freelancing does not provide a steady stream of income, it is advisable to save aside money for rainy days, i.e. months when you do not receive adequate jobs or payments. Recessions, weak markets, and changes in your client's fortunes can all have an impact on your earnings. As a result, always set away a reserve fund as a backup, preferably from your first few payments. 4. Tax fundamentals: As a freelancer, you are an entrepreneur. As a result, you must prepare everything, including your taxes, from the perspective of an entrepreneur. The money you earn from freelancing is considered professional income and is subject to taxation according to the applicable slabs. Whether or not your annual income exceeds the income tax minimal threshold limit, you must file your returns. All of your clients that deduct TDS from their payments will need to fill out Form 16A. Use the services of an income tax consultant to better understand your tax obligations and to learn about tax savings opportunities through investments and claimable expenses such as phone and internet bills, travel expenses, and so on. 5. Managing bill payments: Late bill payments cannot be excused because of your unpredictable revenue stream. This is because a bad credit score might ruin your financial life if you make late payments. So, whether it's credit card payments, phone bills, or loan EMIs, be aware of your bill due dates. Because you can't predict exactly how much money you'll get in a month, you can securely arrange your bills for the middle of the month, or at varied intervals, so you can relax. 6. Savings planning with irregular income: Savings planning might be difficult for freelancers. Based on your normal monthly earnings, you can have as many regular little savings plans as you choose. One-time investments, such as ULIPs, might be prepared when you receive a large sum of money. Knowing where your revenue comes from, whether it's from temporary one-time tasks or long-term contracts, will help you organise your finances for the future.