Released on: January 27, 2008, 2:10 am

Press Release Author: barbara camie

Industry: Financial

Press Release Summary: Personal finance is all about managing one\'s own finance
without falling into a debt trap.

Press Release Body: Care has to be taken to ensure that the person does not lose
track of the investments and at the same time reaps the maximum benefits through
sound investments. The personal finance comes into play mostly for the salaried
class, who do not have many investment options. The safest investment option for
such individuals is the mutual funds or the trust funds. The salaried class can also
have a role in the capital markets by buying and selling shares. Since the risks of
share prices plummeting whenever the stock markets crash are high, the entire base
of the investor could be wiped out in a single day. So, it is not a safe bet to have
an exposure to the stock markets to begin with. When the individual is ready to make
investments to secure the future, it is better to seek the services of a tax
consultant. The job of the tax consultant is to make sound investment options on
behalf of the person. This is to ensure that the investor receives periodical
payouts for the investments made on the schemes at times when the offers are better.

While the stock markets offer instant rewards and at the same time present risks of
wiping out the net investment base, the mutual funds, linked with unit plans, on a
long term basis give good returns. The investment options are easy. One need not go
all the way to the banks and mutual funds agencies to make the investments. Every
month whenever the salary is credited to the account of the investor, the amount due
towards the mutual funds is automatically deducted through the electronic clearance
scheme. This is a better option since there is flexible payment option. If the
investor wants to invest more money, there is that option too. For this, the banks
should have an open understanding with the mutual funds manager and the investor.

Personal finance also relates to a number of other issues, such as seeking loans
from various agencies for house building, property purchase and investments on other
forms of properties such as land and fixed assets. The banks help their customers
with making appropriate personal finance options by suggesting investment options.
For instance, if the account holder has a clean credit history with no defaulting at
any point of time, the banks will offer guidance and counsel the customer on safe
investment options. The person can also invest in the bank to secure minimum returns
without facing the risk of his base being eroded. Therefore, select a bank for
salary account that can offer maximum benefits by way of assisting the customer
identify the right investment channel.

Investments in personal finance can also be made through insurance schemes. These
schemes mean that the investments are not only safe and locked, the returns are
guaranteed though they take time unlike the stock markets where the returns are
imminent. There are various personal finance investment options in insurance such as
personal insurance, accident insurance, medical and health care insurance.

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