Wizley Blog

  Are you looking for business ideas that require an investment of less than Rs 10,000? Check out the list below, and you might find something interesting. Home Bakery - If you enjoy baking cakes and cookies, this might be a good option. You can efficiently market your business on Instagram and with friends and family. You can also keep experimenting with new products and adding more items to the menu. You can quickly start this business with minimal equipment investment. YouTuber - If you enjoy making videos or are passionate about anything that you would like to share with the world, Youtube is probably the best place to be. You can begin with minimal equipment investment and add products for better quality as you see some income. This method might not pay off as instantly as a home bakery business, but it has many scalability and growth potential. Take Tuitions - If you have any skill that you believe people in your community would be willing to pay to learn, then you can begi

Learning to make a budget is the first step in any financial journey. Whether we like it or not, we are all part of a complex economic system. We live in it and interact with it every single day of our lives. In such an environment, if one wants to grow, it is crucial to understand how this system works and what are the best tools that one can use to navigate this system smoothly. One such tool is a budget planner. There are a lot of budgeting tools and budget planners available on the internet. Some of these are complicated and could make budgeting seem difficult, but if one understands what a budget is and the essential components that a reasonable budget should cover, a pen and paper are all you would need to create an easy budget that works well. What is a Budget? A budget is a plan that you make for yourself regarding your spending habits. There can be many types of budgets, depending on your purpose behind creating one. You could make a monthly budget, weekly budget, or even a da

Creating a budget can often be a time taking and challenging task. Estimating all your expenses beforehand might seem like an unnecessary chore. However, if you ask the people who have a habit of creating a budget monthly, they will tell you the benefits that this simple practice can have. Creating a budget is one of the most crucial components of any financial journey. It is good to know that there are plenty of budget planners available online for free that can help you create a budget in a matter of minutes. So let us look at five budgeting tips that you must keep in mind before you use a budget planner and create a budget like a pro. 1. Save Before You Spend Before starting to create a budget it is crucial to understand the importance of saving some part of your income as soon as it comes. Whichever budget planner you choose to use, it will ask you to enter your income initially. In this section, you should always enter the amount you have left over after saving

Did you know that Indians spend the most on groceries? Or that spending on health has grown most quickly since 2013? These facts show that tracking a country’s expenses can reveal important and insightful information that can help the country make better decisions. Similarly, tracking your personal expenses can help you get your finances on track. Ask yourself, would you be able to list down the areas where you spend the most? If not, then creating and following a monthly budget can help you get the answer. A budget is basically, an estimation of your income and expenses over a specified period of time, typically a month. Budgeting helps you plan your expenditures and savings while also helping you to identify your spending patterns. Budgeting is a vital tool to keep your finances in order and achieve your short and long term goals. With Wizely, you can set a monthly budget, and track your daily expenses so that you never run the risk of overspending. Wizely helps you categ

  If you have trouble saving and managing your money, there are apps available now that you may use to get started. Start saving with just Rs 10 with Wizely! To help you manage your funds, here are India's top ten saving apps to help you get organized with your finances: 1. Mint If you want to get your money in order, Mint is a good choice. Apart from keeping track of your spending and integrating your bank accounts to obtain a complete picture, the app analyses your spending habits and provides helpful advice on saving more and where to cut back. Also read: Save For All Your Life Goals with Wizely 2. Wizely If you care about your financial health and want to earn rewards then you’ve found the right app that’s being used by over a million Indians! Wizely makes it easy for you to create saving plans and save any amount and any time for emergencies and other life goals. You can start saving with just Rs 10! It also provides personalised recommendations to help you improve your fin

Paying taxes is a legal and moral responsibility for every citizen. People are always on the lookout to save income tax. No one likes to miss out on ways that can save them money paid as tax, and sometimes, they just stick to the methods they have been applying and, as a result, resulting in missing more productive ways of saving tax. With suitable investments, you can save much more on income tax. Here are five ways to save your income tax in 2021: Invest in Education - This comes under section 80E of the Income Tax Act. The interest amount paid against an education loan is not taxable. Premiums are liable to tax benefits over and above the claims of ₹1.5 lacs, and there is no maximum limit under Section 80E under which it can be filed. Individual taxpayers can apply for this benefit, but it is not open to Hindu Undivided Families. Like ULIPs or traditional savings plans, most child plans fall under conventional life insurance policies, thereby offering similar tax benefi

There's no foolproof fast pass to becoming wealthy. But instead of daydreaming about that six-figure income, below are some points you can put to good use. Put these ten steps into action, and you'll be laying the groundwork in your 20s for an overflowing bank account in your 30s. 1. Have a Plan of Action You NEED a plan, a budget that you can stick with for the long term. Make a budget that helps you live below your means and spend mindfully - which is crucial to accruing wealth. Sticking with your budget also ensures that you are eliminating your "bad debt." Additional funding should be set aside for your cash reserve to cover monthly expenses and an emergency fund to cover the rainy days. 2. Maximize Your Earning Potential If you want to become wealthy, you need to focus on making decisions that will help you earn additional money. Finding ways to increase your earnings and bringing in more income is fundamental to becoming wealthy. Ask yourself

We all wish to invest our money, achieve our financial goals and have a happy and secure future. But before we invest, it is important to improve our understanding of different investment instruments - what they are, how they work and how will they help you build a secure future - before taking any decision with our investments. Earn Instant Cash upto Rs. 1000 - Download Wizely today! In this article, we will aim to understand Balanced Advantage Funds - what are they, how do they work, why should you invest in them and how they can help secure your financial future. So let's begin. What are Balanced Advantage Funds? Balanced Advantage Funds, or Dynamic Asset Allocation Funds, are a category of Hybrid Mutual Fund Schemes as specified by Securities and Exchange Board of India (SEBI). These group of funds invest in asset classes like Equity and Debt, and constantly keep modifying their asset allocation based on the market valuations and conditions. These mutual fu

Living on edge isn't as exciting as we like to believe. And such a living for a lifetime can be unhealthy and demoralizing. By changing one's financial situation and spending, you can change your status from 'broke' to 'wealthy'. It will not be easy, but your financial life can completely switch gears by identifying lousy money habits , helping you to keep your pockets empty most of the time. The trick is to come to terms with these habits and work on them, keeping your guilt and greed apart. No Track of Your Money - Have you stuck living paycheck to paycheck and did not have a budget in place? You probably don't know where your money is going. Sit and identify what is costing you the most, where you can make financial cutbacks, and how to start making economic changes in your daily expenses. By just guessing or going in blindly into your situation, you may be missing critical information. Make a sheet or sit with a pen and paper in hand. Not Paying

We all may have financial habits that may be restricting us from living a stable, balanced life but genius is knowing when to stop. To break bad financial habits, consider how they make you feel. Most bad financial habits feels fun in the moment and creates remorse and regret, a few minutes or hours following the purchase. Recognising these habits now could save a lot of money and stress later. Good financial habits might be a tough call at first, but they produce a lifetime of rewards. Improving your financial habits consistently might harm you in the long run. Myth Fact Here's a list of 5 bad financial habits that you must stop immediately to improve your financial life. 1. Stop Making Unnecessary Purchases Stop it right away! Spending on unnecessary items might be one of the major causes why you seem to be losing more money than required. Technology introduced us to online shopping making it convenient to shop at all times! But this also leads us to m

When credit cards are used irresponsibly, they are a surefire way to end yourself in debt. However, if used wisely, the same card can help you meet your financial obligations and give you some much-needed breathing room as you manage your finances. Start saving in digital gold with as low as Rs 10! Here are some wise strategies for avoiding credit card debt and managing the balance on your card: 1. Consider Using a Balance Transfer Service If you're already in a severe debt cycle, a balance transfer or shifting your debts from one card to another is your best alternative. Using a balance transfer, you can move your balance from one card to another or from several cards to one single card. You will be temporarily debt-free as a result of this. The second bank offers a credit-free period of up to 90 days to help you quickly pay off your outstanding balance. The cardholder will charge regular interest once the credit period has expired. Also read: What is Cred

Understanding financial stress and how it can impact your physical and mental wellbeing is key to living the life that you’ve always dreamt of. Financial stress, if not dealt with immediately, can cause higher diastolic blood pressure, increased heart rate, greater muscle tension, worsened digestive symptoms, depression, eating disorders, insomnia, and anxiety. According to many sources, ‘Debts’ is the number 1 cause for financial stress. A lot of us get ourselves stuck in this vicious debt cycle from a very young age - sometimes as soon as we experience financial independence. From student loans to Credit cards, to impulse shopping on e-commerce sites, we fail to realize that these spending habits are detrimental to our physical, mental, and financial well being. While all of the above may serve as temporary solutions and gratifications, they only suck you deeper into the debt cycle, resulting in financial stress and anxiety. So how do we know if we are experiencing fi

Are you looking for more income in the bank and to live a better life? You need to try hustling each day. Successful and wealthy people are always finding new ways to monetize their strengths, working hard, stay consistent and refrain from distractions like social media browsing or watching videos. Each hour you fail to improve your life is an hour wasted. “But how can I hustle?” You might ask. In the post below, you’ll find 5 cool side hustle ideas that you can dive into today. No doubt you’ll find the one way you want to hustle and stick to it. Blogging Millions of Indian writers make a full-time income with blogging. Thanks to Google’s search metrics and SERP rankings, the need for keyword loaded content is always high in ensuring the right traffic to websites. It’s easy to blog and anyone can begin. This helps you tons with passive income. This means once you’ve built your blog that can earn you money, your additional work becomes less and less. Blogging is

  Nikhil is an avid traveler who finds ultimate joy in going on challenging treks. Throughout his childhood, he and his family used to go on off-beat holidays which always included a serene hike. Now in his 20s, Nikhil is determined to continue this passion of trekking and his goal is to go on the Mad Monsoon Trek in Coorg. However, there is one major challenge – Trekking is an extremely expensive hobby! Right from the basic jackets, boots, and thermals to the most important accessories like duffle bags, snow glasses, torches, binocular camera, trekking pants, trekking poles, sleeping bags, and rain jackets…. It turns out to be an extravagant affair! With today’s fast-paced life, pursuing hobbies can help you keep our inner child alive! Having a hobby relieves you from the unwanted stress and helps unleash your passions. Also, it helps you network and meet like-minded people, allowing you to develop your overall personality. Of course, there are some hobbies like book reading, voluntee

In the last one month amid the coronavirus pandemic, we have seen a large fall in the equity markets around the world. According to the Asian Development Bank (ADB), India’s economic growth rate will slip to 4 percent in the current fiscal on account of the global health emergency created by the coronavirus pandemic. India’s stock market capped its worst quarter on record at the end of March, with the Sensex index sliding 29 percent, according to Bloomberg. The stock markets are expected to remain turbulent for some more time. It could dip further before regaining stability. It’s natural to feel skeptical and uncertain with respect to your investments, during such a situation. Therefore, we’ve put together some suggestions from financial experts on how to invest in stocks during a market crash. Read on to understand the current stock market and how to proceed with your investment journey. Things to Remember Before Investing in Stocks During a Market Crash? If your money