All posts tagged: personal money management

Rise of Online Loan Lending Platforms

Online money lending

With the evolution in the field of information technology, the lifestyle of people started changing gradually. It started showing its effect on various sectors and one of them is banking and finance sector. Before the evolution, the process of completing a financial transaction was tough and physical presence of both person (borrower and lender) was must. But nowadays everything has changed even the way of money is being borrowed has changed by online lending platforms. One can easily borrow a sum of loan/money from the lender without knowing each other or meeting each other. The transactions are carried out in short time period with the help of information technology.

How it all started?

Lending has existed for thousands of years and has taken on many different forms throughout. At the very end of the 20th Century, First Internet Bank emerged. Consumers could apply for an online loan from their home or office computer, and they didn’t actually have to visit a bank or speak with a loan official. The number of start-ups in the online consumer lending space has grown significantly from a mere 2 in 2013 to 30 in 2015. These firms either operate as NBFCs, intermediaries for banks/NBFCs or serve as a P2P lending marketplace. People conduct all kinds of business transactions online that they used to perform in person. This includes shopping, paying bills, researching business decisions, and of course, applying for loans. As both consumers and business owners grow more comfortable with conducting business over the internet, online lending is also expected to continue to grow.

Today, online money lending is in full swing and only getting bigger day by day with lakhs for transactions and crores of the loan being distributed per month.

How one may lend money online?

The process of lending short term loan online is quite easy. It is divided into the 4 simple steps as shown

Lending Process

For instant loan the borrower needs to apply online, once the lender receives an application they will check for eligibility and approves/dis-approves the application. Once the application is approved the disbursement of the loan takes place.

These online platforms work more like a bank. When a person applies for a personal loan online there is evaluation of creditworthiness and repayment capacity of an individual. The only difference between banks and the online lending platforms is that there will be no executive visiting to collect the documents and provide other services A borrower needs to scan and upload documents for KYC, such as photo, PAN card, Aadhar card and passport. Then, they need to provide income-related documents such as six months’ bank statement, three months salary slip and income tax returns.

We are one of them

We all have gone through the situations where we are left with empty pockets and being broke at the end of the month is a common problem.

We at EarlySalary.com offer quick short term loans to salaried individuals. We plan to help provide a small bridge loan to tide over that short difficult period till your salary reaches your account. The process of applying for a loan on EarlySalary is very simple. It is consisting of three easy steps. The first step is that one needs to log in and apply for the loan after which loan request will be approved or rejected (depends upon credit worthiness) and at last as soon as the request is approved the cash will be transferred into your account immediately.

Sounds good? Let’s try it out here and get your salary in advance with EarlySalary.  
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The World of Fintech

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The world of Fintech

The combination of Startups and Finance has lighted the thought bubble of Techies.
This has prodded them to move forward to build a space that blends both.
Basically Fintech organisations use technology to help users avail financial services effortlessly and on the go.
Fintech encompasses all technology-based companies operating in insurance, payment, loans, asset management etc.

Fintech is taking the technological space by a storm. With the introduction of these startups, the technical space the distance between technology and money has been bridged.

With the emerging industry of Fintech, there is an increased accessibility to the finance, along with an elevated awareness amongst the users of finance and technology. These firms offer instant, constant and efficient financial services to the users. They also serve as a competition to the conventional banks that exist.

The aim to integrate technology so that various systems in place interact has lead to the seamless processing of information and data transfer. This leads to better decision making processes(for cash, loans, credits etc) and also diminishes the cost.
With the emergence of multitudes of NBFC( Non-banking financial companies), Payment banks , mobile wallet companies etc have rendered a surge in the Fintech sector.

There are various verticals for Fintech
There are numerous startups that have ventured in the services of lending . These startups surpass the conventional financial institutions by offering alternative credit models, and also enhance the accessibility of users to money and money matters. Basically users can gain access to capital much faster and at a cheaper rates through these.

  • • Fintech has also entered Remittance. Remittance otherwise is a lengthy process with unending steps to achieve the goal. This holds true for both outward and inward transfer of funds. Also the costs associated are extravagant in nature
  • • They also provide both private and businesses to accept payments over the platforms of web and mobile. These Fintech startups intend on integrating payment processing into mobile and web apps without putting in extra efforts to maintain the merchant accounts. Steps are taken to ensure that there is no fraudulence that happens. The transfers have to be made directly into the bank account that is linked to the payee.
  • • Yet another bracket of Fintech companies exist that help individuals save manage and invest money. These Fintech companies essentially help in Personal Finance and retail Investment services. Also they help the individuals make better financial choices. Be it them wanting money or them wanting to save it.
  • • The infrastructural pertaining to old-age financial institutions are also be solved by these new Fintech organisations. There supremacy in technology and efficiency in finance is becoming popular amongst the people. They have enormously improved access to financial data and analytics is much easier and quicker now to get through to.
  • • Another intriguing Fintech Platform is providing access to crowdfunding . crowdfunding helps organisations in nascent stage to raise money and develop in the right direction.
  • • These companies initial focus lay on the core of finance, risk management and the incrementing revenues. However now it has expanded to user-friendliness and customer experience.

Fintech has not only disrupted traditional banking institutions, but has also made banking much easier for individuals. EarlySalary is one such organisation in the Fintech world. We at EarlySalary provide loans upto a lakh in minutes through your smartphone. And it is a very simple process! Just login through your Facebook account, fill in a few details and get instant cash. So wanna get some cash?
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All about investing in shares

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Shares share an important space in the different media of investment such as bonds, cash and property.
Let’s start by defining shares.
Shares are basically miniature snippets of a company. By owning a share, you own a tiny segment of the company, and also a proportion of the company’s value
Research shows that shares have proven to be amazing long-term investments in the financial arena. They usually surpass government bonds, corporate bonds etc.
There are risks associated, but in the longer term, you get rewarded with benefits.
You can choose to purchase shares, or you can invest in mutual funds. Funds essentially buy a set of shares that are monitored and administered by a fund manager.
And when you own a share, then you are a shareholder for that company. This can mean that you have certain rights over the decision making in the company.
So essentially if you have a share with a company, then over the years, the investment value of it increases with the company’s progress and profit making.
Also, there are certain shares that allow you to reap the benefits together with the company. Meaning the profit gets shared with you as dividends.

Owning a share in big and small establishments
In case of fully established and renowned organisations, you get profits as dividends, however the progress is a not a very fast process.
These dividends can be a regular source of income for you, and you can even invest it for further monetary gains. The income that you procure from dividends is taxed at a certain rate.
For smaller organisations, there are usually no dividends. However the growth is better there.
Also if you wish to sell the shares for that company, it doesn’t come easy. It is hard to find buyers, because of the lesser credibility of the company.
Analysing the growth of the company and predicting it accurately is also critical to us.
Big organisations like Infosys have a lot of happy employees owing to their shares in the company. Here the drivers, plumbers, attendants are all millionaires.
In today’s date, around 100 individuals in Infosys are billionaires, and around 2000 of them are millionaires. The management has a habit of rewarding it’s employees over the years for their dedication and hard work. With the progressing organisation the value of shares, and the benefits for shareholders (including the drivers, attendants etc) increased manifolds.

Risks associated with shares
The economic conditions of the company and it’s surroundings determine the boom or downfall of shares. If the share value decreases then the importance of your investment also fades away.
Holding shares in just one organisation is also very risky. You should spread the risk by owning shares in multiple organisations. Diversity is significant here. What if you own shares in only one company, and it drastically witnesses a degradation in it’s value, then you are at the risk of losing all your money.
Also diversifying helps in better returns with more stability.

Buying and selling of shares
If you intend on purchasing or selling of shares, then it is advisable to consult a traditional stockbroker. You can also consult an online broker or a financial adviser. A financial advisor can guide you well on what to buy and what to sell.
We hope you analyse well before investing in a share. Happy Investing!
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All posts tagged: personal money management

Social Media Score can affect your credit score

Social media communication concept

We are aware of how vast and effective Social Media has become. In fact we owe our ability to be aware about what is going on to social media.
Social media has ceased to be just a platform for interacting and socialising. It is much more now.
Traditional verification to evaluate our monetary potential fails at times. Smart organisations have therefore found out these smarter ways to assess our abilities to pay back.
Credit agencies now assess your financial caliber on the basis of your social media existence and life.
For Lending platforms,having a good character value is critically important to them, because that is what allows them to have faith on our repaying ability.

There are many things that the credit agencies/bureaus look at before lowering or upping our credit score. Let’s jot down some primary elements that are considered by the credit agencies to grant or not grant loans.

  • 1. Our lifestyles and daily routines can be well investigated through social media platforms like Facebook, Linkedin and Twitter.
  • 2. They might look at whether we are into alcohol or drugs or at slightest of possibilities that can affect our ability to continue your job.
    These results can potentially reduce our credit score
  • 3. A pattern is cemented around our social behaviour on the basis of our activities and behaviour on social media. This is used to trace the ability in us to repay.
  • 4. Our creditworthiness is judged through our two c’s on social media, they are: – contacts that we have and the contents that we post.
  • 5. There are certain keywords encircled by the credit agencies. The profiles with words like wasted, trashed, smashed etc are scrutinised or put under the black list.
    They might be potential defaulters in the eyes of the credit givers.
    Posts that talk about Casinos, or the posts with ALL CAPS or that contain bad English are again looked at.
  • 6. Our circle of friends is also encircled and pin pointed at in case of any doubts. So if there is anything off the road there, we might land up in their caution radar.
    Most of the credit agencies utilise the social media for people who do not have a credit score, or have a very newly built credit history. This is also for people who have just migrated.
    Also it is fair on the part of credit agencies to get acquainted with the borrower properly so that lending is a risk-free process for them.
    We need to safeguard our creditworthiness by being cautious about what we post on our social media accounts. Also we need to discuss within our family and educate others about the potential decrease in the creditworthiness in case of a bad social media score
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How to file income tax?

income-tax-intimation

If handling finances wasn’t enough, we have taxes in place too to give us gripping nightmares.
However tax payment and filing income tax returns are both crucial for achieving a financial stability in life.
ITR filing is mandatory is a person’s gross total pay exceeds 2.5 lakhs.
The basic motive for filling income tax return is to showcase accountability and to display that appropriate tax has been paid.

There are both online and offline ways of filing income tax returns. However the income tax department made it mandatory for individuals with an income of more than 5 lakhs to file their income tax returns through the online route only.
We will write down about ways in which you can go ahead with this.

The offline Route:
If you have an income of less than 5 lakh per annum, and you decide to go ahead with the offline process then you can easily download the forms from the income tax website, or you can collect it from an income tax office. You will have to fill in some necessary documents including the ITR form and acknowledgement form(This contains the summary of ITR). The stamped copy of the acknowledgement form is handed back to you.
While Offline is the conventional route, Online is the more convenient one.

The Online Route:
It saves time. With technology popping up from everywhere, it becomes easy for you to file the returns of income tax. You do not have to fill in bank related details (such as the PAN number) over and over, all of that is auto-filled for you by the software. Thanks to the digital era!
The software is considerate and helps you calculate the tax amount payable or the refund amount due based on your income and deductions mentioned in the income tax report. This again saves time, is more efficient and reduces fallacies.
While you have chosen the online route, you will be happy to know that there are many options to opt for while filing income tax returns.

Apart from the income tax department’s websites. There are other deputed websites to carry out the same work. Some of the popular websites are Cleartax.in TaxSpanner.com, Makemyreturns.com etc.

There would be variations in these websites in terms of the packages offered, the costs associated, the procedures involved . Also many portals provide the process of filling taxes for free. These are for people with the income below a certain level.
So while opting for a package, you usually choose a cheap package if your income is through your salary. The package choice may turn to a costlier one, if the income is from various sources(Business, Capital gains, House properties etc)
You need to also ascertain the service provider. These are your finances that we are talking about and hence we need to be careful. You will be filling in information like investments, savings, bank account details etc, and hence you need to evaluate the confidentiality and privacy policy of the portal that you choose.

You do not have to do much while filling it through the government website. You can fill the details online itself on the ITR form and upload the form directly.
After the upload and submit, an acknowledgement is generated. This would be emailed to you as well.

For most of service providers, there is already a system built in for filling forms with ease, that suits the need of the users. Some service providers even have a question and answer format for form filling.
Once the acknowledgement is signed, it is received by the tax department to assess the calculative errors, wrong claims or deductions filled in by the tax payer for that year.
After rigorous evaluation, when the data filled in by the taxpayer is matched with the in-house data, an email is sent to the individual which is termed as intimation under section 143(1). This is to notify the individual that the acknowledgement has been received and is ready to be processed.

Tax consultants
Apart from these routes, you have many tax consultancies too in place. These consultancies have expertise on tax .These consultancies help individuals like you by providing the know-how around taxes. The organization provides complete and intact information on how to file the income tax returns. Examples are H&R Block, TaxConsultantsIndia etc.

Now we believe that filing income tax should not be a formidable task for you. With so many options the ease around them, you do not have to ever worry about getting stuck anywhere.

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Money Management Tips for Freshers

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While you are young, you do not really realize the role that money plays in your life in latter stages. So it becomes imperative to realize that there is a balance in money management that we need to attain.

Just entering into the shoes of an employee makes you see the world with a different view altogether. You have a different take on everything. Stepping out of your comfort zone to a ground of exposure makes you cringe with anxiety at times. Because financial responsibility now is yours to take care of.

We want to list down some basic yet important thumb rules that you should follow at early stages to plan better in finances.

  • 1. Keep a check on your purchases: Money is yours. Direct your expenses and control your money. Do it either the offline or online way, but do it. Try your hands on excel sheet, or manage money with one of the money management apps. It makes life easier with lesser roadblocks. Be systematic, and assess the costs that spread across areas of essentials and non-essentials.
  • 2. Always build some emergency fund. It is imperative for us to have some financial aid, in case of an emergency. Try keeping aside a small portion of your savings for this section. Parting away from money is painful, but this money will be your friend in need during the unavoidable crisis
  • 3. Steer clear of debts: Debts do become our part of lives, at some point or the other. But it is necessary to keep a check on the debt pile. It should not accumulate enough to push us in the debt trap. Be wary of what you borrow. Borrow but repay on time. Don’t be habitual in using the credit card every now and then, if you cannot repay on time. This just builds pressure that is uncalled for.
  • 4. Shake hands with Tax management: Even though you are in your primitive years of earning, tax management is an art to master. The sooner you come to terms with it, the better it is for your later life. Evaluating the money that gets pumped in by tax machines, helps us to list better our expenses for duties , necessities and obligations.
  • 5. Resort to common sense and practicality: Be pragmatic about your needs and wants. For example wait for a while till the gadget in your wish list becomes cheaper instead of buying it right away. Opt for facilities that are free, instead of going out of the way to splurge on non-necessities. This does not imply that you need to compromise on your basic needs, but this just means that avoid extravagant expenditure. Especially the one that is easy to evade.
You have just embarked upon your professional journey, and we would want to wish you luck for all your endeavours. We want you to enjoy, learn and grow more to become financially able and stable. Happy Earning!
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How to Repair your credit score?

Credit score

Before conversing about fixing damages to the credit score. Let us talk about a good credit score. We often ignore credit score while applying for loans, and many of us unaware of the low score, until the lender rejects our application and informs us.

We should not turn a deaf ear towards our credit score; instead we should monitor it regularly.

What is the Credit score and why is it so important?

So essentially a credit score represents a person’s creditworthiness when he/she asks for a loan. A person’s credit score is determined by the person’s repayment behavior and credit history, and the creditworthiness is constructed around that. The credit agencies maintain a database of credit standings of individuals and commercial entities. The score ranges between 300- 900. Score of 750 and above is considered to be a good score. There are four agencies that are permitted to maintain this database. They are CIBIL, Equifax, Experien, and CRIF highmark.

Why is the score so important?

With a huge array of financial institutions you might feel that money is easily accessible, but this is not the case. The risks associated with lending have always been considered high and it is necessary for the institution to ensure that it’s lending to right person. Hence, the financial instruments rely on criteria that decide whether you deserve the loan or not. Here is where Credit score shines brightly. It is usually the decision making point for lenders to give or to not give the loan to the borrower. Hence it is important for you to maintain a good credit score, and work towards improving if it is low.

What makes a good credit score.?

The credit score, amongst many things, looks at these critical parameters:-

  • 1. Repayment history
  • 2. Loan enquiries and status
  • 3. Loan to income ratio
  • 4. Length of the credit history
There are no short cuts to improving credit scores. The best way is to administer and manage it over time. And gradually things will fall in the right place.

Let’s focus on some things that we can do to better our low credit scores

  • 1. Stop asking for a new credit – If you are aware that your credit score is poor, you should not apply for a loan at multiple banks. The more inquiries the lender puts into your credit score, the lower it goes. You need to be patient till the time you obtain the suitable score.
  • 2. Lessen the debt quotient in your kitty – You should meticulously chart out the credit accounts that you have out of your credit report. You need to stop using credit cards for this situation. Make a budgetary plan, and direct your expenses towards the higher rate interest credit cards first.
  • 3. Keep your repayment balanced: Well it sounds quirky, however repayment does affect your CIBIL score badly. So in this scenario if you drastically pay off all your repayments at once, then this portrays instability in your financial records. Repayments as a process should take place gradually thus reflecting monetary stability and rendering positivity to your CIBIL score.
  • 4. Set up reminders for Payment: We are so caught up in our routines, that we hardly have a breathing space. But we need to be alert, and sensible when it comes to financial planning and decisioning. Some financial institutions offer payment reminders through their online banking portals that can send you an email or text message telling you about the due date. Also there are automatic payments through your credit cards, wherein if you enroll, then payments are automatically deducted from your account and gets received by the lenders.
  • 5. Be vigilant of any sort of mismatches in your credit reports: It is advisable to leave no stone unturned. Sometimes bank authorities can across erroneous entries to CIBIL. So in such case scenarios, you need to approach banks to rectify the mistakes. Also you need to make sure that all the data on positive and timely payments is recorded and submitted by your lender to CIBIL
  • 6. Use your credit judiciously: Whenever you make use of your credit, then you should analyze the credit utilization ratio. This ratio is of amount of credit you have used to the amount if credit available as balance. If you have numerous credit cards, and you use only one of them, then your credit score may get negatively impacted. Hence you need to be smarter and spread your spends over numerous credit cards and not just one.
  • 7. You need to create credit history if you do not have one: For first-timers, there is an absence of credit history. Lenders might hesitate to give them a loan, owing to their zero credit score. So what you can do is open up a fixed deposit and take a credit card against it. And once you have one in your hand, then you can work towards it and improve the credit score.

We recommend you to check the credit score before applying for any loan to ensure that there are no issues in the credit history. Even if there are any, make sure you get them rectified by the agencies before applying for the loan. Our aim for writing this out was to make you understand the importance of a good credit history, and we hope that you take smarter steps towards financial goals.

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Money Management Apps

Money Management apps

Who doesn’t want a peaceful night’s sleep? But we do not always get what we want. We know for a fact that money matters, but money matters hound us in our sleep.

We have to essay the role of a smart money manager. Balanced budget is a must. But it is not as easy as it sounds. With our minds and finances in multiple places, it becomes formidable task to keep a track of money.

Going through uncountable paperwork and doing mathematics on the receipts is a cumbersome task. This leads to a haywire budget management, and we dread the day of budgeting.

The ultimate resolve to this is going digital. Technology has embedded deeply in our professional and personal life. And it is Technology that helps us solve most of the obstacles in our lives.

The tech masters have devised several apps that aid in budgetary planning, and taking smart financial decisions

We will list down some of the coolest money management apps that fix the financial fixes.
  • MTRAKR – This app helps in managing wealth and keeping a track on what we earn and what we spend. And as the name suggests, the tracking system here helps us to get rid of extensive paperwork. You don’t have to fret over having more than one bank account. This helps in managing multiple bank accounts. It is built beautifully, and has segregated categories of food, utilities etc. People with no finance background or zero bank knowledge can also tap this app with ease. It is fully automated and does not ask for any sort of bank passwords.
  • My Tax India – Calculating and saving tax, taking into account investments and other deductions is a complex task. Here is where My tax India becomes your saviour. It systematically calculates the amount of tax that you need to pay, and you can try out various settings to figure out the optimum level of investment that we need to make. It is user-friendly, and you do not need to be a maestro in finance to use it. So, at the time of tax filing you know what to expect, and you act accordingly. Otherwise you are left baffled with very less time to think through.
  • Wally – Wally is another expense tracker in the digital arena, it keeps a check on your expenses and keeps the spends stacked in categories. One very interesting feature is that it uses your location and categorises the venue, leaving you with very little work. All you need to do is fill in the expenses. Another feature is it’s ability to scan the receipts, relieving you of the stress to type in financial details . You get notified every time you reach a savings goal. Money Management is a much easier task now. We can direct our expenses accordingly.
  • Mint – So Mint basically integrates all your card and bank accounts while keeping an eye on your earnings, spends and savings. This gives in an in-depth analysis of your finances. This is one of the coolest Money Managers in the digital space.
  • Officetime – This is an intriguing application. It is for office goers for whom time is money. It helps you in analysing how productive your time is, and how you can use it more efficiently. This also helps you keep a track on your spends, and generates invoices for expense reimbursements.
  • Homebudget– As the name suggests this application apart from having a beautiful look and feel, creates a beautiful balance in the finances for your family members. It helps you to split bills with your spouse or family members by coordinating efficiently . It also helps working professionals to keep a tab on their multiple income sources.
  • Splitswise – You like going out, partying, or having dinner with your friends? Then this is the app apt for you. This is extremely useful in splitting the expenses. Splitswise, divides the cost systematically if there is a group with joint expenses and it gets tough to split expenses. This is a user-friendly app, and is very popular amongst youth.
  • Digilocker – This app is extremely handy to align and stack your financial documents Starting from your PAN card, Income Tax returns to other Bank documents, Digilocker manages all the confidential documents in an ordered fashion In short DigiLocker acts as the superhero in disguise.
So what are you waiting for? Tap the app that suits your needs.
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How to handle finances right after marriage?

marriage-finance-changes

Youngsters before marriage find themselves perplexed when finances are being spoken of.

There is an absence of savings or a very much required emergency fund. Since their money management habits are haywire,it becomes essential that they get improved and systematic after marriage.

If the financial loopholes are not taken care of , then these become one of the biggest obstacles for both the individuals.

We would want to talk about some simple yet essential measures that can help you out during this phase of your life, Hence,we have jotted down some significant points of financial management after marriage. Have a look. Some ways to handle finances after marriage:-

  • 1. Plan for the uncertainties: – Even if you are stable in your careers and have a good salary, you both need to have a structured financial element in mind. Emergency won’t knock the door and come. Couples today are not really equipped to combat these emergencies, and are under constant stress. Unexpected illnesses, accidents, layoffs can cause a great deal of pain, and hence it is advisable to save a share of your salary over a period of time. This certainty helps to deal with the uncertainty in a much better way.
  • 2. Smart Spending and Smarter Investing : When you are married, you both need to be accountable for what you spend and invest. Spending is inevitable, as it is the simplest answer to both necessities and wants. You cannot blame the other person for the spending. The bottomline is both of you spend, but on different things, and hence there is a need to set a budget.It is required that both of you get on the same page, and focus clearly on the lines of investment. Be it Investing for next year or for retirement , investment planning is the need of the hour. There are many ways of investment for long and short run both. Seeking professional advise also helps.
  • 3. Set achievable financial goals: Having a foresight helps. Deviate from your monotonous life for once, and give considerable thoughts to life after 5 , 10 or 20 years. Anybody can earn money. But judicious usage of money is an art to learn. You just don’t want to walk on a path, there has to be set destinations. You should chart out your career dreams, lifelong goals, financial expectations together and set time to achieve and fulfil them. Summarising the important and less important ones and then prioritising them is the right course of action.
  • 4. Combining or Not combining accounts: So while planning finances, the question of having a joint account or a separate one arises.

    Both the options are working models. Let’s talk about them in detail.

    a)Separate accounts: – When you keep money totally separate, everything(rent, mortgages, necessities etc) has to be split . Also you need to evaluate what you spend, be careful of not spending too extravagantly, as the entire monetary responsibility shifts its weight towards your partner. Also, you need to plan to spend from each account to gain the tax benefits on Home loans, EMI, Investment Proof etc.

    b)Joint Account – In this case, you would put money in a single basket, and use it to pay off and spend. However this requires financial coordination and a mutual agreement on expenditures. You need to get to the common grounds of spending, because if there is a lot of deviation in spending patterns, then there is a lot of room for monetary imbalance and arguments.
  • 5. Checking Financial history – It is important for you to discuss financial history with your spouse and vice versa. Being aware of the financial history, such as the use and number of credit cards, credit scores, way of spending paints a clearer financial picture. So in case one of you has a poor credit score, then having a joint account becomes is not a smooth decision to make. So decision making is highly influenced by financial arrangement of both individuals.

    Managing Debts and Saving: It is good to combine accounts when the debts are cleared off in single or both accounts.

    Saving after the wedding is definitely a good idea, but saving before is essential too. We suggest you to open up a savings account before marriage for setting money goals beforehand and having a vision of future expenses. Both the individuals should invest a portion of their combined income after marriage, and let the account grow. I hope we have helped you in making better decisions. Happy Wedding !
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