Steps to teaching your puppy or dog to fetch by study smart online

Using a trained dog isn’t just like having a balanced canine, but if your dog knows several basic commands, it is a good idea when tackling problem actions — existing ones or the ones that may develop later on.

So where do you begin with Dog training courses? You can take a class, but it’s not essential; you can do this yourself. In fact, using the right attitude, it could be fun for both you as well as your dog!

steps to teaching your puppy or dog to fetch and Animal behaviour courses

1. Sit

This is among the easiest dog obedience commands to show Animal care courses online, so it’s a good one to begin with.

Hold a treat near to your dog’s nose.

Precede your hand up, allowing his visit follow the treat as well as causing his bottom to reduce.

Once he’s in seated position, say “Sit,” provide him the treat, as well as share affection.

Repeat this sequence several times every day until your pet has it mastered. Then ask your pet to sit before a treat, when leaving for strolls, and during other circumstances where you’d like him or her calm and seated.

2. Come

This command can help to keep a dog out associated with trouble, bringing him back if you lose grip about the leash or accidentally leave the leading door open.

Put a leash and collar in your dog.
Go down in order to his level and state, “Come, ” while gently pulling about the leash.

When he reaches you, reward him with affection along with a treat.

Once he’s mastered it using the leash, remove it — as well as practice the command inside a safe, enclosed area.

3. Down

This can be one of the most difficult commands in canine obedience training. Why? Since the position is a submissive position. You can help through keeping training positive as well as relaxed, particularly with afraid or anxious dogs.

Look for a particularly good smelling deal with, and hold it inside your closed fist.

Hold your hand as much as your dog’s snout. Whenever he sniffs it, move your hand towards the floor, so he comes after.

Then slide your hands along the ground before him to encourage his body to follow along with his head.

Once he’s within the down position, say “Down, ” provide him the treat, as well as share affection.

Repeat it every single day. If your dog attempts to sit up or even lunges toward your hands, say “No” and consider your hand away. Don’t push him right into a down position, and encourage every step your pet takes toward the correct position. After all, he’s spending so much time to figure it away!

4. Stay

Before attempting that one, make sure your dog is definitely an expert at the “Sit” order.

First, ask your canine to “Sit.”

Then open the hand of your hand before you, and say “Stay. ”

Have a few steps back. Reward him having a treat and affection in the event that he stays.

Gradually increase the amount of steps you take prior to giving the treat.

Always reward your puppy for staying put — even though it’s just for some seconds.

This is a workout in self-control for your pet, so don’t be discouraged if it requires a while to grasp, particularly for puppies as well as high-energy dogs. After just about all, they want to be on the go and not just seated there waiting.

5. Leave this

This can help keep the dog safe when his curiosity has got the better of him, like if he odours something intriguing but possibly dangerous on the floor! The goal is to show your pup that he gets something better still for ignoring the additional item.

Place a treat in both of your hands.
Show him one enclosed fist using the treat inside, and state, “Leave it. ”

Allow him lick, sniff, mouth area, paw, and bark to get it — and disregard the behaviors.

Once he halts trying, give him the treat in the other hand.

Repeat until your pet moves away from that first fist whenever you say, “Leave it.”

Following, only give your canine the treat when he moves from that first fist as well as looks up at a person.

Once your dog consistently moves from the first treat and provide you eye contact whenever you say the command, you’re prepared to take it up the notch. For this, use two different goodies — one that’s just okay and one that’s a really good smelling and tasty favorite for the pup.

Say “Leave this,” place the less attractive treat on the ground, and cover it together with your hand.

Wait until your pet ignores that treat and discusses you. Then remove that treat in the floor, give him the greater treat and share love immediately.

Once he’s first got it, place the less tasty treat about the floor… but don’t completely cover it together with your hand. Instead hold it a bit above the treat. With time, gradually move your hands farther and farther aside until your hand is all about 6 inches above.

Now he’s prepared to practice with you standing! Follow the same actions, but if he attempts to snatch the much less tasty treat, cover it together with your foot.

Don’t rush the procedure. Remember, you’re asking lots of your dog. If you go up a notch as well as he’s really struggling, return to the previous stage.

Just these five simple commands might help keep your dog less dangerous and improve your conversation with him. It’s well worth the investment of your time and energy. Remember, the process requires time, so only begin a dog obedience training session if you’re within the right mindset to exercise calm-assertive energy and persistence.

Physical Gold Vs ETFs- Which one should you pick?

Let’s look at the two main ways to purchase Gold in India:

1) Physical gold via jewelry or coins

2) Gold mutual funds or ETFs

Why bother about the form of Gold you purchase?

If the purpose is consumption, for e.g., a wedding, you should buy gold physically.

But if you are looking to accumulate gold for instance for the marriage of your children or for investment purposes, you should consider buying gold ETFs.

Buying gold is a hassle

You have to check numerous things before buying gold jewelry or gold coins such as hallmark certificates for purity and physically look for an choose the right piece which suits your needs. There is then a 20%-30% making charge involved. In comparison buying gold via an ETF is as simple as buying any other mutual fund. You can even buy just 1 unit of gold whereas even the smallest piece of jewelry weighs a minimum of 4 grams.

Gold ETFs are economical and easily liquefiable

The only cost investors have to consider when buying gold ETFs is a minimal fund management fee of around 1%. ETFs can be easily sold back at prevailing market rates. In comparison, when selling physical gold in the market you stand to lose up to 25-30% of your initial investment as making charges are discounted for and typically jewelers buy back gold at 2-3% below prevailing market rates.

Tax benefits

After an ownership period of 3 years, physical gold attracts wealth tax and VAT, neither of which happens when you own ETFs.

Storage is expensive

Buyers need to find safe physical storage such as bank lockers to store their gold and this may prove expensive. But for Gold ETF, storage is taken care of by the fund. Investors hold the gold ETFs in a demat account, and don’t need to bother about its security as in the case of physical gold.

Quality Assurance of Gold ETFs

Gold ETFs are backed by gold of 99.5% purity, so investors can be assured about the quality of gold.

Do not be misled into purchasing the wrong form of Gold. Do consider your investment purpose carefully before heading out to purchase the shining metal.

Disclaimer, Statutory Details & Risk Factors:
The views expressed here in this article / video are for general information and reading purpose only and do not constitute any guidelines and recommendations on any course of action to be followed by the reader. Quantum AMC / Quantum Mutual Fund is not guaranteeing / offering / communicating any indicative yield on investments made in the scheme(s). The views are not meant to serve as a professional guide / investment advice / intended to be an offer or solicitation for the purchase or sale of any financial product or instrument or mutual fund units for the reader. The article has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst no action has been solicited based upon the information provided herein, due care has been taken to ensure that the facts are accurate and views given are fair and reasonable as on date. Readers of this article should rely on information/data arising out of their own investigations and advised to seek independent professional advice and arrive at an informed decision before making any investments.

5 Tips for Managing Your Family Finances

Simple decisions can make all the difference and especially when it comes to family matters. In most cases, one of the most crucial matters within a family is financial stability. Managing your family finances is very essential in order to avoid stress as well as feel secure. For you to have financial freedom in your family, you need to adhere to the 5 tips outlined below:

Always spend less than you earn
Carefully analyze your family expenditure
Create a solid savings plan
Create a conclusive budget of your earnings
Carefully manage your debts
Spend less than you earn
In today’s economy, there are many ways in which you might find yourself spending money that you haven’t earned. Credit cards, lines of credit, and interest-free store loans have all made it easy to spend money on things that you really want. Nonetheless, this ends up putting a financial strain on your family as there is a high likelihood to spend beyond your limit. Consequently, lending institutions may end up freeing your assets or selling them to recover their money.

Money management
Figuring out your expenditure is yet another way that you can manage your family expenses in a healthy way. Money management basically entails meeting your family’s daily expenses, catering for your bills, as well as planning for the future. This can help you avoid stress with respect to unexpected financial family needs.

With this in mind, you should carefully scrutinize your family expenditure in order to separate the needs and the wants. It will also be helpful to know exactly what is the expected budget for a specified time. You should also know that your family expenditure can either be regular or irregular family expenditure based on your family’s lifestyle. Below are some of the fixed expenses that you may come across:

Mortgage repayments/rent
School/tuition fees
Transport costs
Council fees and taxes
Utilities such as gas, electricity, water, phone and/or internet

In addition to the fixed expenses, you might also find that you need to spend on some or even all of the following:

Food
Household goods as well as home maintenance
School uniforms, books, and stationery
Personal items
Medical fees
Dental fees
Entertainment
Holidays and gifts

To effectively manage your family finances, you have to consider these expenditures as they relate to your family’s lifestyle.

Consequently, you can be able to avoid falling into debt. In any case, if you have existing debts, you can explore debt settlement vs debt consolidation strategies to help you manage your family finances. If you are not sure of a way to effectively manage your debts to fit your family’s financial plan, you can consult debt management companies such as Alleviate Financial Solutions or other debt management institutions that are experienced in dealing with such problems.

Create a solid savings plan
Another thing that you need to consider when managing your family finances is your savings plan. You will need to have a solid savings plan based on how and what you want to save. With a well-planned out preliminary of your family expenses, you can tell whether you are spending more or less of what you earn.

This way, you can be able to sit down with your family and decide what you want to save and how you can be able to achieve that goal. To make a conclusive savings plan, you will need to review your spending habits such that you will be able to decide on what you are saving for. Moreover, you could have a savings buffer for emergency purposes such that emergencies do not interfere with your savings plan.

Conclusion
It might seem like an old system to advocate that you spend your money based on what you earn and what is left after all your expenditures. This way, you can free your family from debts and work to cover your pre-expenses. It is simple, spend your money only on the items that you need and not on what you want. In fact, if you want to have a specific item and/or service and your current earnings do not allow you to purchase the specified item at that particular time, pay a deposit and pay little by little until such a time where you will be able to acquire the item.

Mutual Funds- How does it work and Why should you Invest in them?

One of the easiest ways to begin your journey as an investor today is to invest in a mutual fund. The concept of a Mutual fund is simple.

Article content:

One of the easiest ways to begin your journey as an investor today is to invest in a mutual fund. The concept of a Mutual fund is simple.

Money obtained from investors is pooled together. Investors may be individuals or companies.

A fund manager manages this pool of money and invests the cash on behalf of the investors. His goal varies depending on the type of fund he manages.

For example, a fixed-income fund manager seeks the highest yield at the lowest risk for his investors.

How you can benefit from Mutual Funds

A key reason for investing in mutual funds is that it’s simple and convenient.

But that’s not just it.

The industry is also tightly regulated in comparison to our friends in the banking and insurance sectors. In recent times, investing in Mutual Funds is being considered relatively as a safer and more lucrative option to certain financial instruments.

In addition, your investment will be managed as part of a pool by a professional fund manager who constantly monitors the stocks and bonds in the fund’s portfolio. We can certainly accept that a fund manager can devote considerably more time to selecting investments than an individual investor.

This is a very convenient option as you will be able to invest in an informed manner without having to stress over analyzing financial statements of companies and picking a stock yourselves.

So here’s our quick roundup on Why should you invest in Mutual Funds?

Low Minimum Investment: Start your investment from as low as Rs. 500/- in SIP (Systematic Investment Plan) or Rs. 5000/- in lump sum.
Liquidity: Unlike bank fixed deposits, mutual funds have a flexible withdrawal process, which makes availability of money possible easily. Investor can redeem their units at any point in time.
Professionally Managed: Once you invest through Mutual Funds, you can relax that an expert will make desired changes to scheme portfolio wherein you have invested.
Diversification: You can invest across different asset classes like equity, debt and gold allowing you to diversify your investments and protect it from inflation, recessions and any other market uncertainties.
You can achieve you goals, be it long-term, short-term, tax saving or your emergency needs.

Achieve Financial Goals: A Systematic Investment Plan (SIP) will help you make the most of the compounding effect. You can find a suitable scheme for all your different financial goals such as wealth creation, child’s marriage or retirement.

Transparency: The Mutual fund industry is regulated by The Securities and Exchange Board of India (SEBI). SEBI has defined comprehensive processes, rules and regulations in order to protect the interest of investors and ensure transparency. It is mandatory for all Asset Management Companies (AMCs) to follow these processes and to disclose their scheme portfolios every month to maintain utmost transparency.

What is Return on Assets (ROA) and how to calculate it?

This will also help you to make certain strategies for the favor of the company that will help to generate the company’s earnings and generate additional revenue. When the assets return they will write as a percentage.

There are a few important concepts you need to remember about the ROA.

ROA has the preeminent use when it is used in different companies to compare their performance and presentations.
ROA helps to check the company’s obligation. This is quite useful in this regard.
The most important effect that it has is, it helps you to know about the assets of the company. Meanwhile, it helps you to know about the pointers where the company is spending its assets. This will help to evaluate the profit concerning its investment.
The Significance of Return on Assets (ROA):
This is a term that contains many benefits. It helps you to know about all the earnings and assets that a businessman has invested. This is its use in capital investment. If you want to see its impact on public industries you will see it has a significant role in these minor industries. These industries depend upon this term substantially.

You will see it has an impact on multiple sectors of industries like it work as a comparative measure. The term, comparative term helps to make a comparison with the companies that have a similar concept for development or different.

If you are serious about your company and its assets then you must know about the ROA. Because this helps an investor to know about its company and its assets where they are going and their complete utilization. This will tell you about the positive and negative values, benefits, and losses. Likewise, if you have a higher number for ROA it means you have a greater amount of profit.

Return on Assets (ROA) vs. Return on Equity (ROE):
Both these terms are used hand in hand. These terms help a company employer to know about how the company is working and how much it’s consuming its capitals. If you talk about the ROE alone it is essential for the measurement of all the return of the company and its evenhandedness.

ROI tells you about the liability of the company but the ROE doesn’t tell you about it. If a company has more influence and obligation it means your company has higher ROE than ROA.

Calculating Return on Assets (ROA):
Return on assets (ROA) is used best for the calculation of any company because if you are going to measure the total assets of the company it will be a certain difficult task. After all, your companies’ assets are changing day by day. These are changing because you are making various purchases and sales therefore the assets will be different on an annual basis. The assets will be increased on a heavy basis if you are gaining profit from large purchases like vehicles, cars, land, equipment, seasonal vacillations, and land.

To calculate a certain period you need to know about less information. And it will be easy to explain. But if you are working to calculate the total assets of the company you will face a greater amount of difficulty. But you can easily access the assets of the company by the balance sheets.

The formula for ROA is:
ROA= Net Income /Average Total Assets

Here is the term net profit or net income is being used. This term refers to the income statement that is expressed at the bottom of the statement. Net income means all the amount of total income that you have after complete production.

If you have any additional profit then you can also gain this with the help of the ROA. Because this is directly related to all other secondary profits that are not part of primary processes like the investment and the devilries that have payments on time.

Limitations of the ROA:
If you are using the ROA then you need to know about its certain limitations. First, this can’t be used across the industries. It means it will only be used for one industry at the same time. You can’t use this with multiple industries at the same time.
It has some other limitations because it is not stable for the bank. The bank balance sheet is helpful to know about all the assets of the companies. This helps you to know about the estimated value and the other historical costs.
Conclusion:

Here, you have known about what Return on Assets (ROA) is and how to calculate it? This term is quite useful for the business because this helps you to know about the periodic assets. You can easily know about the assets at a specific time instead of total assets.

This is why India should Not Ban Bitcoin?

The bill was branded as one thing to dam all non-public virtual currencies or cryptocurrencies and make a framework for issue a state-owned cryptocurrency beneath the extent of a tally.

However, later the govt. issued a clarification on its intention. minister of finance Nirmala Sitharaman has recently admitted that a blanket ban on cryptocurrency might not air the cards.

Talks square measure on with the banking company of Asian country, and also the ministry is committed to taking a graduated position on the matter.“We need to form positive there’s a window out there for every kind of experiment which is able to get to ensue within the crypto world. It is not as if we tend to square measure aiming to look inwards and say we tend to don’t seem to be aiming to have any of this. There will be a really graduated position,” the FM told CNBC-TV18. Issuance of a state-governed coin is sort of a mirage during a} desert as a result of it’ll compromise the very ethics of blockchain or cryptocurrency – decentralization.

The best that the government ought to do is to manage it to prevent its misuse in money-laundering, drug traffic, and so on. On that half, its prime cryptocurrency exchange like PCEX Member became strict on KYC norms. Therefore, solely a verified user should purchase and sell cryptocurrency from their registered checking account. Take a glance at however the ban can have an effect on Indians and also the economy. We hope it’ll assist you to realize the solution yourself. Opportunity Loss for InvestorsBitcoin is on a Bull Run, and prohibition it’ll stop Indian investors from reaping the dividends. The below graph depicts the rise within the BTC value from June 2018 to March 02, 2021. From USD10,000 to USD50,000 – this is often a spectacular rise.

It’s onerous to imagine a business or bank which will fetch this high come back in a very short time.

Cryptocurrency investors in Asian countries square measure of primarily 2 sorts.

First, UN agency needs an Associate in Nursing investment portfolio that has high growth potential. they need an unsound craving and luxuriate in the volatility. These square measure chiefly young investors UN agency square measure low in patience once it involves earning cash. they will be skillful with technical analysis skills relating to investment or non-tech ones.

Second, there square measure investors UN agency square measure a touch conservative. They see bitcoin investment as a hedging choice against the growing market inflation. Compare the appreciation of bitcoin and gold from the on top of the illustration, the normal plus. Investment in bitcoin incorporates a lot of higher ROI than the investment in gold. Bitcoin’s price has increased like something, whereas gold stayed consistent. So, Indians square measure losing the charm in gold and shifting towards bitcoin. These investors square measure primarily the senior Indians UN agency have witnessed the transition from featured phone to a smartphone.

Opportunity Loss for StartupsDespite the regulative vacuum in an Asian country,

startups together with fintech corporations and cryptocurrency mercantilism exchanges square measure quite optimistic concerning the growing usage and use-cases of cryptos and also the underlying technologies. The number of fintech, yet as cryptocurrency exchange startups in an Asian countries, has skyrocketed. Today Asian country is home to around 2174 FinTech startups that square measure active across the subsequent business verticals.it’s troublesome to work out people UN agency don’t use fintech applications like Paytm, PhonePe, or similar.

These corporations square measure wearing away a substantial portion of the normal banking industry. The blanket ban also will mean discouraging the utilization of the underlying technologies of cryptos like blockchain, RippleNet, or Ethereum Network in their payment settlement method. The emergence of crypto mercantilism platforms like PCEX Member has reworked Asian countries into a world destination for crypto mercantilism. They do not simply facilitate investors a platform to exchange BTC, ETH, or alternative assets, however additionally give employment to an outsized chunk of the hands and build a handsome contribution towards company tax.

All this may solely grow over time as cryptocurrency popularly gains momentum with a constructive legal framework. India’s fintech corporations have evolved as role models on the world stage. Startups have expressed their satisfaction over the minister of finance stand. Revenue Loss for GovernmentsBanning cryptocurrency in Asian countries can cause a double loss (direct and indirect tax) for the state funds.

Extending the present tax regime to incorporate the financial gain through cryptocurrency mercantilism can facilitate governments to gather direct taxes. Corporate direct taxes we tend to already highlighted on top of. Besides, the legitimacy can encourage the acceptance of bitcoin by merchants, which implies they’re going to ready to sell products and take payments within the kind of bitcoin or alternative cryptos. Some businesses have started it acceptive, but still, the merchant’s acceptance remains in its infancy.

Mutual Fund Types and how do you choose

Mutual Funds are of many kinds and it’s easy to get lost even for an experienced investor amongst the wide array of funds available to you in the market.

To enable our investors to pick the best mutual fund to achieve their financial freedom, let’s understand in details, the ways in which mutual funds are classified.

Mutual funds can be classified on the basis of investment objective or on the basis of maturity period.

Closed vs. Open-Ended Funds

Open ended Funds

Subscription: Open ended Funds offer units for sale without specifying any duration for redemption.
Selling price: Redemption value is on the basis of the ongoing NAV
Maturity: Doesn’t have a set number of shares or maturity period
How is it traded: Not traded on the open market (like stocks), NAV of such schemes is generally less fluctuating
Liquidity: Can be redeemed anytime
Closed-ended funds

Subscription: Subscription opens at the time of New Fund Offer (NFO) and for a defined period only.
Selling Price: Price varies depending on supply and demand
Maturity: Set number of shares and a fixed maturity period.
How is it traded: Listed on a recognised stock exchange. They can be traded at any time of the day when the market is open
Liquidity: Fixed lock-in time period, however can be bought and sold on a recognized stock exchange where they are listed.
Mutual fund can be categorized as per asset classes. Broadly, they can be classified under the following seven broad categories:

Equity Mutual Fund
Debt Mutual Fund
Gold Mutual Fund
Multi Asset Fund
Hybrid Mutual Fund
Solution Oriented Schemes and
Other Mutual Fund
Knowing which fund is right for you is essential to making confident investment decisions to grow your wealth in a sustained manner.

Explained in Detail – The Demat Account

What is a Demat Account?

Demat Account is like a bank account except Demat holds the stocks in electronic form. A bank account holds money and a Demat account holds financial certificates of instruments like bonds, shares, government securities, mutual funds, and exchange-traded funds.

How to open a Demat account?

The fastest and quickest way is to select a brokerage firm and opt for Online Account opening. This is paperless mostly and does not take more than 10 minutes if all documents are ready.

This, however, was not always the case and before the advent of internet and camera phones it was not that easy. The steps for opening the Demat account are,

Select depository participant (DP)
Fill account opening form
Submit documents for verification
Sign a standardized agreement with DP
Verification of Documents
Demat Account number and ID generation
What are the advantages of a Demat Account?

Risk-free: The convenience of a Demat Account is coupled with its inherent safety. It’s a perfect safe way to hold all your securities and protects your against loss of physical certs, forgery etc
Time-saving: It’s an effective and time-saving way to buy/sell share immediately, automatic credit of shares when bonus or splits happen
Zero paperwork: Every transaction is in electronic format so the demat is super-flexible when it comes to handling securities
No hidden cost: All costs are known beforehand and handling expenses, stamp duty etc are eliminated
With the demat account an investor can receive benefits like dividends, interest, refunds, bonuses etc directly into the account
Can one open Multiple Demat Accounts?

Yes, One can open multiple demat account or just trading accounts but only one account with one broker.

Any minimum balance requirements?

NO, demat account has no such requirements.

What are the conditions for opening multiple demat accounts?

An individual can have only 1 account with 1 Broker. No multiple demat or trading accounts with same broker.
Every Demat account will have its separate Annual Maintenance Charges (AMC)
Unused Demat Accounts are likely to be frozen if dormant for a long time. To reactivate KYC procedures will be done again
No need for multiple trading account with multiple demat accounts
Multiple Demat Accounts have a major benefit; one can separate their trading and investment portfolios. One can also get the services of various brokers and use them to their advantage.

Mastering Home-Based Tax Filing: A Comprehensive Guide

Understanding Home-Based Tax Filing
Tax filing from home involves several key steps, from gathering your financial documents to choosing the right software for submission. For many homeowners, property taxes are often included in monthly mortgage payments, which helps spread out the financial burden over the year. According to the U.S. Census Bureau, approximately 65% of homeowners have mortgage payments that include property taxes and insurance.

Key Components of Your Tax Return
When preparing to file your taxes, consider all sources of income, which may include:

Wages from employment
Earnings from self-employment
Interest and dividends
Rental income
Capital gains
Deductions and Credits
Understanding what deductions and credits you’re eligible for can significantly reduce your tax liability. Common deductions include:

State and local taxes
Mortgage interest
Charitable contributions
Medical and dental expenses
Tax credits, which reduce your tax bill directly, can come from:

Education expenses
Energy-efficient home improvements
Child and dependent care
Tools for Efficient Tax Filing

To file your taxes from home, several reliable software options can guide you through the process, ensuring accuracy and maximizing potential deductions.

IRS Free File
For those with an adjusted gross income of $72,000 or less, the IRS Free File program offers access to free tax preparation software. This initiative, a partnership between the IRS and tax preparation companies, provides filers with a secure and efficient way to handle their taxes. Learn more about IRS Free File.

Commercial Tax Software
For those who do not qualify for Free File or prefer more guidance, commercial software options include:

TurboTax: Known for user-friendly interfaces and comprehensive coverage of tax situations.
H&R Block: Offers both online and software versions with options for expert assistance.
TaxAct: A cost-effective alternative that provides excellent tools and resources for a variety of tax needs.
Each software has its strengths, and choosing the right one depends on your specific tax situation and comfort level with tax laws.

Choosing the Right Software
When selecting tax software, consider the following:

Ease of use: Look for intuitive navigation and clear instructions.
Support options: Comprehensive help and support can clarify confusing aspects and provide reassurance.
Cost: Compare prices, including costs for state returns and potential upsells.
Strategies for a Stress-Free Tax Season
To ensure a smooth tax filing experience, consider these tips:

Organize your documents early: Gather all necessary documentation, such as W-2s, 1099s, receipts for deductions, and last year’s tax return, well before the deadline.
Check for updates in tax law: Tax laws change frequently, and staying informed can impact your return. The IRS website is a valuable resource for the latest information.
Consider professional advice: If your tax situation is complex, consulting with a tax professional can prevent costly errors and provide peace of mind.
Conclusion

Filing your taxes doesn’t have to be a daunting task. With the right preparation and tools, you can efficiently manage the process from your home. Whether you choose IRS Free File or a commercial software, the key is to start early and stay organized. For additional guidance, the IRS official website offers resources and contact information for expert help.

By embracing these practices, you can navigate tax season with confidence, ensuring compliance and optimizing your financial health.

What is an emergency fund and why do I need one?

This financial emergency could be in the form of

Medical expenses
A job loss
Repair work to your home or car
Unexpected travel expenses
or any other tough time.
2020 taught us the importance of saving for uncertainties, when unemployment rose and people started redeeming from their investments and increasing their debts. Having an emergency fund keeps you away from tapping into mutual funds reserved for long term goals.

How much to save

It is recommended that you need to have enough money at your disposal that can keep up with your consumption pattern for ideally 12 months. If your monthly expenses are Rs 50,000 then your emergency fund should save 50,000×12 = Rs.6,00,000 for your emergency fund.

However, the size of your emergency fund will vary depending on your lifestyle, monthly expenses, income, and financial dependents. Those who have EMIs or higher monthly expenses might need to start building a larger emergency corpus. If you have no financial obligations or if you are young, you can reduce your weightage to six months’ worth of expenses.

Where to invest

Follow the SLR (safety, liquidity, and return) philosophy while building this corpus. Consider financial instruments that prioritizes safety and liquidity of your money over returns. Consider bank deposits and liquid funds (with a short duration of 3 months) for building your emergency corpus. Those who are beginning to save can start with one month and then gradually build it up from there. As per SEBI norms, liquid funds invest in debt and money market securities with maturity of up to 91 days. The invested money is parked in market instruments such as Certificate of Deposits, Commercial Papers, Term Deposits, Call Money, Treasury Bills, and so on.

Things to consider when building your emergency corpus

Liquidity: Liquidity refers to how quickly your investments can be converted to cash. Invest in instruments that does not attract high penalties or exit loads.

Safety: Avoid saving in instruments that have high risk for capital erosion, instead, prioritize safety over returns.
Co-relation with other asset classes: Your investment portfolio has several asset classes, it’s important to evaluate how your emergency fund fits in with the rest of your portfolio.
Risk appetite: If you are conservative and have a low threshold for risk, you might want to consider a higher sum dedicated to your emergency fund.