Sainath Deshmukh

Saving money can be challenging, especially with daily expenses. But starting a regular savings plan early helps build a stronger  financial future. A regular savings plan simply means setting aside a fixed amount of money every month. This money goes into a savings account or investment fund, helping you slowly build up your savings over time. Here are five reasons why starting a regular savings plan early is a smart idea:   1.Builds a Good Saving Habit One of the best things about a regular savings plan is that it helps you make saving a habit. Saving monthly, even small amounts, helps make saving a routine. Over time, it becomes second nature, and your savings grow in the background. The earlier you start, the easier it is to build this habit and stick to it for years to come. 2. Grows Your Money Over Time If your regular savings plan is linked to an investment, it can grow even more. That is because of something called compound interest, where you earn interest on both you...

 Caring for ageing parents involves more than emotional support; it includes making sound financial decisions. One of the most important steps is choosing the right insurance for elderly parents. As they grow older, health risks increase, and hospital stays may become more frequent. With rising medical costs, it is important to understand the types of insurance available, and which one best fits your parents’ needs. Caring for ageing parents involves more than emotional support; it includes making sound financial decisions. One of the most important steps is choosing the right insurance for elderly parents. As they grow older, health risks increase, and hospital stays may become more frequent. With rising medical costs, it is important to understand the types of insurance available, and which one best fits your parents’ needs. Medical Insurance Medical insurance cover hospitalisation and healthcare needs. For elderly individuals, it can significantly reduce the burden of out-of-poc...

Stepping into adulthood brings new freedom and financial responsibilities. Whether you have just started your first job or are working towards your long-term goals, now is the perfect time to begin financial planning as a young adult . Here’s how to build a strong financial foundation.  Understand Your Income and Expenses The first step in financial planning for young adults is understanding how your money is spent. Start by listing your monthly income after taxes and tracking your spending. Identify fixed expenses like rent, transport, and bills, and variable ones such as dining out, shopping, or entertainment. This clarity helps you set realistic savings goals and avoid overspending. Build a Budget You Can Stick To Create a simple budget that allocates income towards essentials, savings, and lifestyle needs. Consistency is key - track and adjust your budget regularly. Start Saving Early Time is your biggest advantage. Saving even small amounts now can grow significantly through c...

Personal accident insurance plays an important part in protecting you and your family against life’s unpredictable events. It complements your health insurance or hospitalisation plan by offering extra coverage in case of injuries.  Here’s why a personal accident insurance plan is worth considering Personal accident insurance plays an important part in protecting you and your family against life’s unpredictable events. It complements your health insurance or hospitalisation plan by offering extra coverage in case of injuries.  Here’s why a personal accident insurance plan is worth considering. Broad Protection Against Accidents Personal accident insurance plans provide coverage if you are injured due to an accident. The includes both major and minor injuries like burns, fractures and sprains.  The financial assistance helps manage medical bills and related costs, reducing pressure on your personal savings. Whether it’s a car accident, a fall, or a sports injury, you will ...

Whole life insurance is a well-known financial product in Singapore that provides coverage for your entire lifetime. It not only offers financial protection for your loved ones, but also acts as a long-term savings solution. If you are considering this type of insurance, here is a step-by-step guide to help you through the application process. Whole life insurance is a well-known financial product in Singapore that provides coverage for your entire lifetime. It not only offers financial protection for your loved ones, but also acts as a long-term savings solution. If you are considering this type of insurance, here is a step-by-step guide to help you through the application process. Understand What Whole Life Insurance Offers Before starting the application, take some time to understand how whole life insurance works. As long as you continue paying the premiums, this policy covers you for life. Many plans also include a savings or investment component, meaning part of your premiums may...

  Choosing the right health insurance is an essential part of protecting your  health and financial well-being. With rising healthcare costs and a wide range of insurance options available in Singapore, it can be overwhelming to know where to start. Taking time to understand your options will help you make a more informed decision. Here are some key points to consider when selecting a health insurance plan in Singapore.       1.Understand the Types of Health Insurance Available There are two main types of health insurance in Singapore: government-supported plans and private health insurance. MediShield Life is a basic health insurance policy managed by the Central Provident Fund (CPF) Board. It is automatically provided to all Singapore citizens and permanent residents.   2. Consider Your Healthcare Needs Everyone’s health needs are different. Consider your lifestyle, age, medical history, and any existing conditions. Younger individua...

Retirement planning is one of the most important steps towards a secure financial future. Yet, many people make mistakes that can put their retirement goals at risk. Below are some of the most common pitfalls and how you can avoid them. 1. Delaying Retirement Planning A major mistake many individuals make is postponing the start of their retirement savings. It is easy to assume that there is plenty of time, especially when you are young. But delaying can cost you in the long run. Why this matters : The later you begin, the more you will need to set aside each month to catch up. You miss out on the power of compounding, where your earnings generate more earnings over time. What to do instead : Start saving early, even if it’s a small amount. Set up automatic contributions to a retirement plan so saving becomes a habit. Review and adjust your contributions regularly, especially when your income increases. 2. No Clear Retirement Strategy Saving without a clear goal can be risky. Many peop...