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RefreshMint is a financial App, designed to simplify finances for the young Indians. With us, customers get full control of their financial life as well as access to a rich library of tailor-made useful content. Customers Get free financial health check-up as well with RefreshMint. Our recommendations help customers traverse the best financial path possible & let them forget about financial worries. No matter where one is on a financial journey, we have something for everyone.

SBI Cards IPO: How To Maximise Your Gains. The much-awaited and talked about IPO of 2020 – SBI Cards IPO opened on 2nd March 2020.

SBI Cards IPO: How To Maximise Your Gains

The IPO has a lot of good reviews and is expected to be oversubscribed. Maximising returns in such IPO’s requires a certain process to be followed, which is mostly not told by many platforms or tools. This process is based around smartly managing the allotment and listing day of IPO. Let’s deep dive on the basic details and key advantages of SBI Cards. Snapshot of IPO IPO Price – ₹750 – ₹755Minimum Buying amount – ₹ 14,345Investment Horizon – Short-Term (no more than 15 days) Issue Details Currently, SBI group is holding 74% and CA Rover Holdings (26%) equity of SBI Card. Retail investors: The company has reserved 4.27 cr. no. of shares for this category, meaning it expects to raise up to ₹3,229.98 crores from retail investors. As many as 22,51,641 lots are up for grabs in this category. The Economic Impact of Coronavirus. More than 1.2 Lakh people have been affected by coronavirus globally.

The Economic Impact of Coronavirus

Daily activities have come to a halt as people are scared to step out. If people stop travelling and going to movies theatres, malls, gyms, then the impact could be devastating for our economy. Currently, global markets are amid the greatest stock market shock since the Global Financial Crisis in 2008 because of coronavirus fears among investors. (Ryan, 2020) Similarly, India’s stock market torch bearer Nifty 50 has fallen more than 20% from its last peak of 12,420 on 20th Jan 2020.

In this post you will see the following: Current Coronavirus Outbreak7 Ground-Level Impact ExamplesMacro Impact Impact From the Previous Pandemic 5 Steps Taken by the Indian Govt. 5 Things Millennials must do to be recession ready. Many young millennials have lower work experience and limited skill set when compared to older generations.

5 Things Millennials must do to be recession ready

This makes the job market undervalue them which forces them to agree to low paying jobs. Moreover, most millennials have insufficient emergency funds which make their cushion thinner relative to older people in times of recession. During the last global recession after GFC, this is why millennials were affected particularly harder than older generations.

As they did not have sufficient funds to survive job cuts for long periods. When a recession hits, millennials have a higher chance of getting fired. The next one might get even worse. A global recession is not a matter of if but rather when. But first, let’s understand the effects of the global financial crisis (GFC) of 2008 on millennials at that time & the current economic outlook for millennials. Effects of GFC on millennials After the 2008 GFC, even the best employees were jobless for months. Mayhem in Markets: This too shall pass. Let me start with an old fable.

Mayhem in Markets: This too shall pass

King Solomon once searched for a cure against depression. He assembled his wise men together to find him a cure. They meditated for a long time and gave him the following advice: Make yourself a ring and have thereon engraved the words ‘This too will pass.’ This is our story also. In the last 20 years or so we have seen 3 bubbles (DotCom bubble of 2001, Financial Crisis of 2008, and this one). This means that periods like these are a great opportunity to think and prepare for the coming better phase. 5 Things That Riches Know and Middle-Class Don’t. 1.

5 Things That Riches Know and Middle-Class Don’t

Money is meant to be invested, not saved: Well I don’t deny the fact that everyone should have an emergency fund in their bank which obviously comes from Saving Money. But most of us do excessive saving and put that money into our favourite Fixed Deposits. My cousin saves a lot of money and he’s an expert at it. Once he saves 1 Lakh successfully, he creates a Fixed Deposit with an interest rate of 6.5% whereas the average inflation rate is 7%. Avoiding calamities is impossible. Be prepared!! In this post, I will share a different view on calamities which are inevitable and are beyond any individual’s control.

Avoiding calamities is impossible. Be prepared!!

In the finance world, investors hedge their interests. Similarly, in real life, it is important to have protection which is known as hedging in finance. Most of us must have heard the Tortoise and the Rabbit fable. The usual message from this story is ‘slow and steady wins the race’. But I feel it was not the Tortoise’s consistency that led to victory. Majority of people want to win their life race, basically live a better life. By this view, life is not a winner’s game. In the book, Winning the Loser’s Game Ellis describes what he calls “winners’ games” and “losers’ games”: In a winner’s game, the outcome is determined by the correct actions of the winner. The objective to write this post is to pass-on a different view on calamities which can either be good or bad for you and your finances.

To be ready, you need a sword and a shield. Emergency Fund, your Shield.