The word "Health‟ was derived from "hoelth‟, which means "soundness of the body‟. In olden days, health was considered a "Divine Gift‟ and illness was believed to be caused due to the...
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Life Insurance : An Important Risk Transfer Mechanism – Part II
In India the principle of life insurance was reflected in the institution of joint-family system. Sorrows and losses were shared by various family members in the event of unfortunate demise of a...
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Insurance : An Important Risk Transfer Mechanism – Part I
Insurance is a risk management tool used by individual or families to limit their financial exposure to a peril. A peril refers to an event causing potential loss that will have a hazardous...
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Emergency Fund : Key to successful Risk Management
As per Wikipedia - an emergency is a situation that poses an immediate risk to health, life, property, or environment. Most emergencies require urgent intervention to prevent further worsening of...
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Budgeting: Planning your monthly or annual expenses
Budgeting is the process of creating a spending plan of your money for monthly and annual expenses. Use this budgeting process to prioritize your spending and focus your money on the things that...
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Income-Expense Analysis: Understanding your monthly income and expenses
Income-expense analysis for a individual or family is quite similar to profit and loss statement analysis of a company. As part of income-expense analysis for individual or family, we build...
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What is Money? Why is Money Management Important?
Money is a medium to facilitate the process of buying, selling, or exchanging various goods and services since ancient times. Money as a legal tender typically consists of notes and coins. Each...
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