Imagine: Briefcases full of cash. Scrooge McDuck diving into his swimming pool vault of gold coins. Winning $100 at a blackjack table. Feeling a little dishonest yet? advertisement Just thinking about getting our grubby little hands on some cold hard cash can make us more likely to cheat, according to a new study in Psychological Science. Oddly enough, thinking about time seems to make people more honest. In a series of four experiments, Francesca Gino of Harvard Business School–whose previous research has found links between cheating and creativity–and Cassie Mogilner of the Wharton School found that participants primed to think of money were more likely to behave unethically on various lab tasks than those who received a neutral prime. People who were prompted to think about time behaved the most ethically. A little more than 87% of the participants in one of the experiment’s money conditions cheated, compared to almost 67% of the control group and around 42% … [Read more...] about Can Thinking About Time Make You A Better Person?
Betterment personal capital
Now-a-days, it’s easy to avail of a personal loan from banks, non-banking financial companies (NBFCs) and peer-to-peer (P2P) lending platforms. There are some investors who take personal loans to invest in equities and subscribe to initial public offerings (IPOs) expecting to will earn healthy profits and repay the loan. With the equity market performing well and Sensex at an all-time high, several investors are keen to participate in this rally even with borrowed money.In January 2016, Niraj Thakkar from Nagpur an avid trader in stock market took a personal loan of Rs 5 lakh to invest in mid/smallcap stocks. He also traded in the derivatives market expecting to earn short term profits through this transaction. Thakkar called this "the biggest blunder of his life” as he lost the entire borrowed amount in mid-February 2016. At that time, the Sensex fell over 3,000 points due to weak quarterly earnings and mounting non-performing assets of banks, … [Read more...] about Should you fund your stock market investments with personal loan?
To facilitate growth in the non-life and health insurance business in the country, the Insurance Regulatory and Development Authority of India (IRDAI) introduced a new type of distribution model called point-of-sales person (PoSP), who are engaged either directly by insurers or by intermediaries such as corporate agents and insurance brokers. Let us understand the key differences of buying a policy from PoSP and insurance brokers in this story.Type of insurance policies that PoSP and insurance brokers sellTA Ramalingam, Chief Distribution Officer-Institutional Sales, Bajaj Allianz General Insurance, explained, “PoSP normally sell over-the-counter (OTC) products that are pre-underwritten and approved by IRDAI. These products don’t require any further discussion or explanation with the customer at the time of sale.”Jyoti Punja, Chief Operating Officer & Customers Officer at Cigna TTK Health Insurance, added: “PoSP usually deals with products such as … [Read more...] about Buying an insurance policy from a point of sale person? Here are 6 facts you must know
Do you have a home loan and are in need of some extra money? There is a better alternative to getting a personal loan, gold loan or loan against property (LAP) -- a top-up home loan."Generally, top-up home loans are given for home renovation or extension of home and for personal needs such as financing marriage, medical expenses or paying education fees, etc.," said Sachin Chaudhary, Chief Operating Officer, Indiabulls Housing Finance.Manav Jeet, Managing Director and Chief Executive Officer at Rubique said that his company already advises customers to go for top-up home loans, since the interest rate on them is similar to that on their existing home loan, and processing fees are less or waived off in certain cases.Close Top-up home loan rates by some of the banks related news Exclusive | Govt may float ‘amnesty’ scheme for unaccounted gold; set up gold board: Sources Moneycontrol PF podcast | Active or passive funds: Find out which is the … [Read more...] about Need money? Think about a top-up home loan instead of personal loan or gold loan
Sanjay Dutt’s biopic Sanju is breaking records on domestic box office collection. This movie has decent entertainment value across age groups. Sanjay Dutt’s life story could also provide with some important personal finance lessons. Here are some of them:i. Blindly following friends'/relatives' advice is badIn our network, we are surrounded by people who cannot be trusted. In movie it’s displayed, Sanju’s friend consumes glucose but persuades him to consume drugs. Such ‘friends’ just love your money and don’t care for you. Similarly, there are so-called well-wishers who recommend us to invest in insurance policies or penny stocks which give poor returns in the long term while they themselves will be investing in financial assets which are giving inflation-beating returns in the long term. If the ‘Friend’ is an insurance agent or broker, those recommended insurance policies will earn them hefty commissions and trailing income … [Read more...] about 5 personal finance lessons from biopic Sanju