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2020 wasn’t exactly a stellar year of employment. The pandemic brought in its wake, among other things, unemployment, job loss and furloughs. From the 4th quarter of 2020 and in the beginning of 2021, we see the situation to improve slowly. However, the situation is still uncertain. There are of course certain industry sectors that are doing better than others, but on the whole the industries are still seeing layoffs and stagnation.

In times like these, having a side hustle or a side business can be really useful. And look, if you can leverage your business in the right way, you may not even have to spend a lot of time, money and effort on it. For instance, if you build an online course on an in-demand subject, you can earn money on auto-pilot! That’s passive income for you every month. So if you have one of those jobs that are or were hit hard by the Covid-19, you’ll need a side hustle.

Here are some ideas to get you started.

<h3 class="credit_i_h3">Tutoring</h3>

Just ask a child and she’ll tell you how the lockdowns affected her studies. Indeed, schools were shut down not long after the pandemic was declared. Right now, yes schools are opening up slowly but there is still fear of the virus, especially of its second wave.

<img src="https://lh3.googleusercontent.com/oZOIQ1D-tsEBTdkhVJ8nSD3RtpM6LYpvzcC6s6TveH4vhKmoCCwEeqN1QiJybi9Tj5s4GMCXDt8II-Okl1vwaGfnaVFZTPjAInG9wpSbzBkVAs4vDXGq2sYt_V1s5g" style="height:383px; width:624px" class="img-responsive credit_i_img">

School children are combining online classes and in-school classes. This puts more burden on them, and on their parents and teachers. This however gives you a good opportunity to earn a side income as an online tutor. So if you are really good or have knowledge in a subject, go ahead and try your hands in becoming an online tutor.

You can teach science, math, music, etc. For all the kids getting bored at home and not being able to go to school, you can be a savior and earn well while at it! As a tutor, you can set your own schedule.

<h3 class="credit_i_h3">Become an online freelance writer</h3>

You can easily get writing gigs online. Think about it: each year hundreds and thousands of new websites are being made from around the world. And the ones that already exist, well, those need new content. And who can give it to them? You!

All you need to do is to be good enough, or write well enough for your clients. In the beginning you may make less money as a freelance writer as you build your portfolio.

You don’t need any technical knowledge to start in freelance writing. You just need a very good command over English. And once you get real good in your niche and get the top clients, sky's the limit as to how much you can earn.

<h3 class="credit_i_h3">Freelance in your field of choice</h3>

Most people think freelance online is only in the field of writing. However, they say it since many if not most people online give writing services. The truth is you can freelance in anything you want.

For instance, if you are a skilled painter, musician, chartered accountant, etc, you can teach people the skills which have earned you accolades.&nbsp;

So there you have it: 3 side hustles for 2021! We wish you a happy and prosperous freelancing.

&nbsp;

For financial security, it is always a good idea to have a side-hustle that provides you with additional income. Here are 3 side-jobs you can have for extra savings.

How Can I Make Extra money in 2021 | 3 Best Tips to Have

The fallout of the Covid-19 last year was unprecedented. Industries around the world were affected. Companies had to shut down and an unaccounted number of people around the globe was pushed into unemployment. Understandably, the travel industry was one of the hardest hit. People stopped travelling as lockdowns became the norm. Hotels and even restaurants had to shut down temporarily.&nbsp;

Yes, travel indeed did grind to a halt last year as the central and state governments ordered all non-essential businesses to shut down. It’ll be interesting to note here that as much as 90% of travel went down during the mid-March to mid-May period last year.&nbsp;

People typically get travel insurance to mitigate certain risks when they are travelling abroad. Mostly, people go for the broadest coverage products which insurance their vacation plan, cancelled trips, lost baggage and medical emergencies. Such insurances are meant for short trips, and this will surely return to normal post-Covid. Right now however, most trips are domestic only. In India, 23% of airline travelers wish to buy travel insurance for travelling during Covid-19.&nbsp;

Right now, borders are opening up again, which means people are more willing to travel again. Thus, more and more people are looking for travel insurance. The problem is that such insurances are mostly unable to cope with the risks of the pandemic. Insurance companies right now are unable to keep up with the wave of demand for travel insurance. For instance, policies don’t cover expenses that are related to Covid-19 and pre-existing medical conditions. These apply to government-ordered shutdowns, travel bans and Covid-19 medical costs.

This uneven distribution of insurance coverage is confusing customers when they’re looking to buy.&nbsp;

<img alt="This uneven distribution of insurance coverage is confusing customers." src="https://mmk-s3-cms.s3.amazonaws.com/1612865613011.jpeg" style="height:640px; width:960px" class="img-responsive credit_i_img">

Some travel insurance companies like the Allianz are now discouraging people from buying travel insurance during this time while others like Seven Corners are giving special coverage just for Covid-19 related costs.

<h3 class="credit_i_h3">What’s next for the travel industry?</h3>

Right now, the travel insurance industry is seeing business fall in the double digits. As you have seen, travel insurance coverage is not doing well since few people are travelling. On the other hand though, since there is also a fall in claim payment, there is some semblance of balance in the industry.

Some airline companies have responded to the pandemic by giving refunds beyond the normal fee lock-in period and even changes in the effective flight date if the insured one postpones and/or reschedules a trip because of the Covid-19. Their strategy is to keep the business going somehow, not cancel their business outright.&nbsp;

<h3 class="credit_i_h3">What’s in store for the future?</h3>

All is not doom and gloom. After months of lockdowns and quarantine, people are planning their dream vacations. They have had a lot of time to plan their trips and not can’t wait to take them. To encourage this trend, airlines and cruises are giving high discounts to entice people.

&nbsp;

The Travel and Tourism industry came to a complete standstill at the onset of the Covid-19 pandemic, and is now starting to come up again. How has this affected the Travel Insurance industry? mymoneykarma takes a look.

How Much is the Impact of Covid-19 On Travel Insurance Industry?

Studying abroad is a global phenomenon. The desire to study in other lands is not something which you’ll find students in your own country willing to go for; almost everyone around the world wants to do the same too! They want to cross continents and countries to get the best possible education for their future.&nbsp;

That being said, why did studying abroad become so popular?

There are many fantastic benefits. It can set you up for a global career and can give you an amazing social life. Here are some reasons why you should be picking studying abroad.&nbsp;

But before we start, remember that you may need an education loan to do so. If you do want an education loan, just get in touch with mymoneykarma, and we’ll connect you with some of the best and biggest loan providers in the country.

<h3 class="credit_i_h3">Studying abroad is a challenge</h3>

Studying abroad is a challenge in most cases. Once you are once that plane to the university, you are on your own. Yes, you’ll have help, but you’ll have to manage your affairs in most cases. You’ll have to find your own lodging at times, make your own food, and maybe even have to get a part-time job. The challenges are unique, but that’s where all the fun comes from. Having concerns from travelling abroad is very normal and natural. Make your trip worthwhile by moving out of your comfort zone. Experience a whole new world, and you’ll have wonderful memories and friends for the rest of your life. Studying abroad makes you self-sufficient.

<h3 class="credit_i_h3">Experience a new culture</h3>

One of the biggest benefits of studying abroad is that you get to experience a new culture. Living in a completely different environment and surviving there with your friends is an exhilarating experience. Studying abroad lets you experience a different culture from a unique viewpoint.

<img src="https://lh6.googleusercontent.com/ipAn7VA4I-GnQm6sqbwLDRJs3yyE157wEgswHt2IYuq9wkssnixLtrPjWKmhXHcdIom6rL_OA075MGw9DL_6G3rS3XzML9blP8RUOKy-DDkODe2zy3o0gl49CZLr3A" style="height:416px; width:624px" class="img-responsive credit_i_img">

You get to know about their language more, meet locals, make friends and acquaintances, learn about their culture, traditions, and so much more. It also allows you to see how others view your country and culture from their viewpoint. Living in a cosmopolitan culture certainly has its benefits.

<h3 class="credit_i_h3">Get a world class education</h3>

Regardless of where you study; you always want to have a top class education. And that is studying abroad. But remember, getting a world-class education requires you getting into a top college or university. Getting into a community college and expecting Harvard-level education just won’t do. It’s not possible. But in most cases yes, studying abroad increases the level of education.&nbsp;

<h3 class="credit_i_h3">Career opportunities</h3>

When you study abroad at top universities, you can know and network with people with solid connections. Besides, passing out from a top institution brings you a lot of career opportunities since they offer courses which you don’t get anywhere.

So there you have it! 4 reasons why your child may have that inkling to study abroad!

&nbsp;

Thanks to the quality of education, exposure, and cultural immersion, studying abroad is what many students nowadays aspire to do. Here are the reasons why your child might want to study abroad.

Study Abroad - 4 Reasons Why Your Child May Want to Study Abroad

Indian students are getting more and more opportunities to study abroad with each passing year. Old favorite destinations are giving way to new ones like Canada. Studying abroad has, understandably so, been a romantic dream for many. Studying abroad means different things to various people, but mostly, it is all about experiencing a new culture, getting in-depth education on a chosen subject, getting world-class education, getting to see a new country, meeting new people and making new connections, and etc.

But for many, it remains a dream. This is generally due to a lack of funds. Studying abroad takes a lot of money. It includes tuition fees, travelling expenses, rent, and so much more. Not everyone can pay so much out of their pocket. Most require a loan.

And that’s why education loans exist, to give you the opportunity to have a great future which wouldn’t have been possible otherwise. And look, you can get these loans not just from banks these days, but from institutions and universities around the world. And that is apart from scholarships and grants.

Here’s a big reason why education loans are important nowadays: it directly affects the university, the type of course and the quality of education one can get! Thus, foreign study education loans are the best. You can get a wide variety of such loans and schemes from the various Indian banks. Most of these come with a flexible loan repayment option, which makes it much easier for you. Many education loans have a moratorium period as well, which is a certain period after the course completion, after which you should start repaying. Thus, you do get a lot of time to repay.&nbsp;

In this article, we are going to tell you about the top education loans you can take in 2021.

<h2 class="credit_i_h2">Features of education loans</h2>

<ul class="banklogin_ul">
	<li>
	Anyone between 18 and 35 year of age is eligible for foreign education loans.
	</li>
	<li>
	One can choose management courses, medicine, engineering, graduate courses, graduate degrees, architecture, arts, pure science, hotel management, and so much more.
	</li>
	<li>
	Loan expenses include tuition fees, exam fees, caution deposit, lab and library fees, travel, equipment and books, projects, study tours, and more.
	</li>
	<li>
	Borrowers get 5-15% margin for foreign education loans.
	</li>
	<li>
	Loans can be paid through EMIs by ECS and post-dated cheques to the concerned bank.
	</li>
	<li>
	Banks give education loans with various tenures, inclusive of the moratorium period. 
	<img src="https://lh6.googleusercontent.com/Lumq1Up5snon2dqKnSjxFkDPWvlHlf7zIM-r70lU57qVxjanuAjyrhIfLpjC9VfY3JlLburYl4z_YGM6mubq7rDZyyKcrNgLxF1ALiOAiz0u3BcEteH2M41tJfzcdA" style="height:416px; width:624px" class="img-responsive credit_i_img">
	</li>
	<li>
	One can get a co-applicant for full time courses, and they can be family members and spouse.
	</li>
	<li>
	Banks are willing to give 20 lakh max with moratorium and a max of 10 lakhs without moratorium.
	</li>
	<li>
	For loans till 4 lakhs, collateral is not needed. For loans between 4-7 lakhs, third-party guarantee is needed. For loans more than 7.5 lakhs, tangible collateral security is needed.
	</li>
</ul>

<h2 class="credit_i_h2">Get education loans at these top banks</h2>

<h3 class="credit_i_h3">State Bank of India</h3>

&nbsp;The SBI offers term loans to students looking forward to having a higher education experience abroad. This loan is for various job-related professional and technical courses including MCS, MBA and the like. Loans are also for technical courses at the Chartered Institute of Management Accountants, London and the Certified Public Accountant.

<ul class="banklogin_ul">
	<li>
	You can get up to 30 lakhs
	</li>
	<li>
	Collateral needed only for loans beyond 7.5 lakhs
	</li>
	<li>
	Loan margin is 15%
	</li>
	<li>
	Moratorium period is given
	</li>
	<li>
	Max tenure is 15 years
	</li>
	<li>
	Interest rate shall be 2% of SBI’s current base rate
	</li>
	<li>
	Required documents are KYC documents, loan application form, course cost details, co-applicant details, admission letter, and others
	</li>
</ul>

<h3 class="credit_i_h3">Axis Bank</h3>

You can expect foreign studies education loans with competitive rates here at Axis Bank. Choose from a wide selection of career-oriented courses, technical courses, and more.&nbsp;

<ul class="banklogin_ul">
	<li>
	Maximum loan amount is 20 lakhs and minimum is 50000
	</li>
	<li>
	No margin is needed for loans less than 4 lakhs, but 15% needs to be brought by the borrower for loans more than amount
	</li>
	<li>
	Get loan within 15 working days after submission of documents
	</li>
	<li>
	Co-applicants can be parents and guardians, and collateral security and third party guarantee is needed for special cases. You may be asked to give your LIC policy as security
	</li>
	<li>
	Loan shall be disbursed to the concerned institution
	</li>
	<li>
	There are no processing and prepayment charges
	</li>
	<li>
	Interest rate is between 16.5% and 17.5%
	</li>
	<li>
	Women applicants get special rates
	</li>
</ul>

<h3 class="credit_i_h3">HDFC Bank</h3>

Expect education loans at preferential rates and flexible repayment options for reputed universities. Pick from over 950 courses worldwide. Get loans up to 100% of the educational requirement, without the3 necessity to bring any loan margin.

<ul class="banklogin_ul">
	<li>
	Maximum loan is 20 lakhs
	</li>
	<li>
	Get flexible security collateral and co-applicant options
	</li>
	<li>
	Applicants can be between 16 to 35 years of age
	</li>
	<li>
	Co-applicants can be family members, uncles and aunts, and in-laws
	</li>
	<li>
	Processing is 1.5% of the loan amount
	</li>
	<li>
	No fees on prepayment
	</li>
</ul>

<h2 class="credit_i_h2">FAQs</h2>

<h3 class="credit_i_h3">What documents do I need to submit to get an education loan?</h3>

These are:

<ul class="banklogin_ul">
	<li>
	Liabilities and assets of all the borrowers.
	</li>
	<li>
	Proof of identity.
	</li>
	<li>
	Proof of address.
	</li>
	<li>
	Income Tax Returns that are less than 2 years old.
	</li>
	<li>
	Passport-size photographs (two).
	</li>
	<li>
	Foreign exchange permit.
	</li>
	<li>
	Letter that confirms the scholarship.
	</li>
	<li>
	Course expenses.
	</li>
	<li>
	Admission proof.
	</li>
	<li>
	Relevant mark sheets.
	</li>
</ul>

<h3 class="credit_i_h3">Does SBI charge any processing fee for education loans?</h3>

SBI may levy a processing fee depending on the loan amount. There is no processing fee on Scholar Loans.

<h3 class="credit_i_h3">How can I avail an education loan from SBI?</h3>

In order to avail an education loan from SBI, you need to visit the nearest bank branch.

&nbsp;

Studying abroad is what every student aspires to do, but it can be very expensive. Here are India's top banks for foreign education loans.

Best Banks for Foreign Education Loans in India | mymoneykarma

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Want to enjoying your upcoming vacation on a budget? How about using your credit card to make your trips easier? These articles on travel finance and travel savings shall help you to save on trips and enjoy life.

Save your personal finance on lifestyle travel vacation

I was on an adventure-packed backpackers' trip to Europe a few years ago. Quite a noob to <a href="https://www.mymoneykarma.com/credit-cards/index.html/credit-cards-basics.html" target="_blank">the concept of credit cards</a>, all I had taken along were two debit cards and cash. The trip was exhilarating until one day, in Holland, I became the victim of a pickpocket.

My wallet was gone, along with one debit card and all the Euro I had. I was shaken by the horrific experience that followed. I don't speak Dutch, and those Dutch guys hardly knew much English. Communication barrier made it very difficult for me to seek help and support. My trip almost got derailed!

Thanks to my other debit card, I managed to make it back to India, safe and sound. However, the dreadful incident taught me a good lesson, and I am here to share with you what I learned.

<h2 class="credit_i_h2">Potential Dangers of Losing a Card</h2>

Losing a card doesn't necessarily indicate the physical loss or theft of a card; your card's sensitive data and information could be stolen, which is much more severe than just losing the physical card. Your credit and debit cards are your primary sources of funds during travel.

No one is naive enough to <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/travel-tips.html" target="_blank">carry a thick wad of cash while traveling</a>. If you lose your cards, you will be stuck in an alien land with a lot of difficulties. Apart from the inconvenience, you would also be at risk of <a href="https://www.mymoneykarma.com/credit-cards/index.html/protect-from-credit-card-fraud.html" target="_blank">financial fraud</a>.

<ol class="homeloan_Faqs_ul_1">
	<li>
	Cash flow:

	When you lose a debit card, your hard-earned money is in jeopardy. If thieves steal your debit card and empty your account, you will have a tough time managing your expenses and <a href="https://www.mymoneykarma.com/credit-cards/index.html/pay-off-credit-card-debt.html" target="_blank">paying your bills</a>. However, a false play with credit cards just increases a hypothetical credit balance which doesn't drain your pocket.<img alt="Losing a Credit or Debit Card Abroad" src="../../../images/new/travel/losing-a-credit-or-debit-card-abroad.jpeg" class="img-responsive credit_i_img">
	</li>
	<li>
	Fraud:

	Financial fraud&nbsp;are rampant and tourists are the easiest victims. If you lose a credit card, and it is used to commit financial fraud, you don't lose much. As per RBI's guidelines in 2017, if the bank is in any way responsible for the fraud, you have zero liability. 
	On the other hand, if your own negligence results in the fraud, you would have to bear the entire loss until you report the unauthorized transaction to the bank. The bank shall bear the liability of any illegal transaction that occurs after you have reported the issue. 
	Fraud committed through lost debit cards, however, put you in a vulnerable position, as the fraud protection policies for lost or stolen debit cards are quite weak. The bank might not cover the fraudulent charges, and the lost amount might never be reversed.
	</li>
	<li>
	Resolution:

	The banks take a lot of time to resolve issues pertaining to a lost or stolen debit card. They have time up to ten days to investigate your claim and it might take even longer to replace the funds in your account. If the account concerned contained all your savings, then you would have to manage without money for a long time. 
	Such a situation would severely affect your finances. If you complain about a lost or stolen credit card, the bank's money is at stake and hence they will act immediately to resolve the issue. You need not bother a lot as you will not face much hassle. 
	We know that credit cards are not only safer than debit cards but also a better choice for daily spending. Losing a credit card is easier to deal with than losing a debit card. However, the most important fact is that you stay so cautious that you don't lose either. You must be prepared to face an emergency. Consider getting <a href="https://www.mymoneykarma.com/insurance/index.html/reasons-to-buy-travel-insurance.html" target="_blank">travel insurance</a>, just in case.
	</li>
</ol>

<h2 class="credit_i_h2">Steps to Take If You Lose Your Cards Abroad</h2>

Whether you lose your cards, someone steals them, or they get stuck in a faulty ATM - the hassles are endless. It can be extremely inconvenient, but you can quickly redress the issue when you are in your homeland. If such incidents happen in a foreign country, especially if you do not know the local language, you are in serious trouble!

Before you move out of your comfort zone (which, in this case, is your country), you need to know <a href="https://www.mymoneykarma.com/travel-lifestyle/credit-card-tips-overseas-travel.html" target="_blank">what steps you should take</a> and whom to approach if you are in such a crisis.

<ol class="homeloan_Faqs_ul_1">
	<li>
	Get the Right Mix

	Before you take off, fill your wallet with debit cards, credit cards, <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/forex-travel-card.html" target="_blank">prepaid forex cards</a> as well as currency notes of the destination country. Your primary mode of expenditure should be through prepaid forex cards and credit cards. These cards are safe and have good anti-fraud features. Refrain from using your debit cards and try to keep them as backup options. They are unsafe as they are the keys to all your savings; and if they fall into the wrong hands, all your money will be gone.

	As you pack for your trip, you should split up the cards and cash amidst your baggage. Even if&nbsp;you lose your wallet, you won't lose all your financial sources at once.
	</li>
	<li>
	Hotlist the Lost Card

	If you misplace or lose your credit or debit card, you need to hotlist the lost card immediately. The best way to do this would be to call your bank's customer care helpline and request them to block your card. You need to be ready with all necessary information pertaining to your credit or debit card account for verification purposes. Once your card is successfully hotlisted, you can rest assured that nobody can misuse it. 
	The banks that operate in large-scale have dedicated helplines for credit or debit card related issues, whereas smaller banks have a general helpline number. You can call in either during an emergency and seek support. You should know the numbers that you must reach out to. 
	However, when you are traveling overseas, the default helpline numbers might not work. Quite a few banks have specific phone numbers for international calls. Knowing those numbers would be an added advantage as you can quickly call and take action. Once you report the loss to your bank, follow the bank's instruction on the steps you need to take next.
	</li>
	<li>
	Apply for a Duplicate

	The follow-up action would be to apply for a duplicate card. Some banks make life easier for us by facilitating the application online, whereas some banks might ask you to visit the branch in person to submit an application.

	Most private banks have branches or overseas offices in various countries. You could locate them through their website and visit them to seek further help. Some banks might be able to provide a duplicate card right away or by an overnight courier. However, do not expect smaller banks to be so proactive, and also know that such services might be quite expensive.
	</li>
	<li>
	Use Backup

	You should never step out of your country with just one card in your wallet. It is imperative that you have <a href="https://www.mymoneykarma.com/credit-cards/index.html/multiple-credit-cards.html" target="_blank">multiple cards</a> - preferably a mix of different card networks. If you lose one card or a card doesn't work due to some technical glitch, you must have something else to rely on.

	Backup doesn't necessarily mean that you should carry as many cards as possible. When I was robbed and stuck in Holland, my other debit card was barely useful. I needed cash to travel in a cab; I needed cash to make a phone call; sadly, I had none, and I had to walk for 3 miles to find an ATM. You must always keep a bit of cash on you as a backup.
	</li>
</ol>

<h3 class="credit_i_h3">Tips to Keep Your Cards Safe</h3>

Before you fly off to another country, make sure that you do the following:

<ol class="homeloan_Faqs_ul_1">
	<li>
	Take photographs of your cards (both sides) before you start your trip and email them to yourself. This will ensure that you have your card details even after the card is lost.
	</li>
	<li>
	Keep your bank in the loop about your <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/how-to-travel-on-a-budget.html" target="_blank">travel plans</a>.
	</li>
	<li>
	Know your bank's helpline numbers that can be reached from the country you are traveling to. The general tollfree numbers might not work.
	</li>
	<li>
	Carry a backup card and some cash as well.
	</li>
	<li>
	Split up the cash and cards. Try not to keep all your money and cards in one place- split them up. Keep some of it in your wallet, some in your handbag, some in your suitcase so that you have something to rely on if either is gone.
	</li>
</ol>

If you lose your cards in a foreign land, you should do the following right away.

<ol class="homeloan_Faqs_ul_1">
	<li>
	Call your bank and report the incident.
	</li>
	<li>
	Hotlist or block the card.
	</li>
	<li>
	Inquire about the next step to be taken.
	</li>
	<li>
	Inform the local police about it (in case it was a theft) and keep a copy of the FIR.
	</li>
	<li>
	Apply for a duplicate card.
	</li>
</ol>

<h2 class="credit_i_h2">To Sum Up</h2>

I believe you have a fair idea of what you should do if you lose your cards abroad. However, be on guard and try not to lose your cards. Save yourself from all these hassles. Travel safe, travel smart.

To be on the safe side, make sure that you <a href="https://www.mymoneykarma.com/credit-score/credit-score.html" target="_blank">check your credit report</a> regularly as well. Any instance of fraud or <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/stay-safe-from-identity-theft.html" target="_blank">identity theft</a> should show up immediately in your report, and you can act on it immediately.

&nbsp;

Losing a card abroad could be a menace. Here are some quick tips from mymoneykarma to keep your cards safe during travel. Learn what you should do if you lose your cards overseas.

Losing a Credit or Debit Card Abroad | mymoneykarma

Ever wondered why plane tickets are so expensive? How often have you decided against booking a plane ticket just because there was an unanticipated surge in price? Quite a lot, right!

Let's unwind the complicated process of plane ticket pricing and how to avoid being the passenger who ends up paying the highest.

<h3 class="credit_i_h3">Why does the airfare fluctuate so radically?</h3>

Whether you're a <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/frequent-flyer-programs-india.html" target="_blank">frequent flyer</a> or not, the price-mechanism executed by airlines is a mystery to the layman. Unless you're a part of the revenue management department of the airline's company, there's no way you can know what the fares will be for tomorrow. You must have noticed that plane ticket generally cost the highest in the month before it's departure.

If you book the ticket few months in advance, you might pay about Rs.2000-Rs.4000 less compared to the price charged a week before it flies. Also, the airfare keeps changing almost every week before the day of the flight. What's the logic behind this?

Factors affecting pricing in the Airline Industry

To understand how airfare is worked out, it's essential to know what are the factors that affect the prices. On a broad level, we can say that demand for the flight tickets, supply or capacity of the plane, competition faced by the airline and the <a href="https://www.mymoneykarma.com/credit-cards/index.html/save-money-fuel-credit-card.html" target="_blank">price of fuel</a>, predominantly determine your airfare, so, the fluctuations in any of the factor would cause the prices to change.

Let's assume that you're booking plane tickets from Delhi-Hyderabad on 4th of July. The airfare from Delhi-Hyderabad departing on 22nd of August would cost about Rs.2000 but if you book a day before departure, i.e, 21st of August, the tickets would cost you an additional Rs.3000-Rs.4000.

Who is traveling?

The cost of the flight ticket varies because airline passengers are divided into two genres; business class and economy class. The business class flyers are generally flexible with the prices but not the dates, and the economy&nbsp;class flyers are flexible with the dates but not the prices.

A business class flyer would be willing to pay an additional Rs.4000 if they have a conference meeting in a different city within the next 15 hours, but an economy class flyer won't be willing to pay additional money since he/she is flexible with the date of travel. So they would rather look for a distinct date when the fares are well <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/travel-for-cheap.html" target="_blank">within his/her budget</a>. So, the demand for a plane ticket increases rapidly in the month before the plane flies due to the high demand faced by the airline.

Competition in the airline industry

Competition amongst the airlines could also bring down the airfare considerably. The popular Indian low-cost carrier, IndiGo, captured around 40% of the air market share in the last year. Cut-throat competition in the Indian fleet has also pushed the state-run airlines like Air-India to slash their prices.

The numbers crunched by the Directorate General of Civil Aviation (a state-run body that regulates the aviation in the country) suggest that the inferior pricing in Indian aviation market is majorly due to high competition experienced by the airlines. The strategy employed by the company to attract customers.

Early customers are generally more sensitive to prices, so the airlines reserve low-cost economy class tickets to attract them. The airline uses data from DGCA to compare the sales in the current year and in the previous year on a particular date. If the sales figures are better compared to the past, the airline's revenue department will raise the airfare and if the sales have plummeted, the airline would decide to lower the prices to attract more customers.

Time of travel

Another interesting factor which affects the prices of a plane ticket is the time of travel, which means that, if you book an early morning or late night flight, you'll be charged reasonably less as compared to an evening flight. This happens because the demand for bookings is generally less in those time slots.

<img alt="" src="https://mmk-s3-cms.s3.amazonaws.com/1576491956383.jpeg" class="img-responsive credit_i_img">

<h3 class="credit_i_h3">Five tricks to keep you ahead of the game</h3>

<ol class="homeloan_Faqs_ul_1">
	<li>
	Book early, but not too early

	CheapAir.com published a study based on 917 million airfares to find out the best time to book flight tickets to get the cheapest deal. According to the report published by the company, flyers can avail the <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/tips-to-find-cheap-flights.html" target="_blank">greatest deals on flights</a> in the prime booking window. Early birds are generally considered to be at an advantageous position when it comes to booking, but according to the study, the prime booking window allows booking at even cheaper rates.

	Prime booking window is considered to be the period between 3 weeks to 4 months prior to the departure date. So, if you're planning on booking a flight it's better to not fiddle until the last week. Booking a few weeks early is always a great idea.

	Apart from the prime booking window, the study emphasized on the undesirability of booking flight tickets one week prior. This is because you'll need to pay a whopping Rs.14,000 extra on international flights(on an average!)
	</li>
	<li>
	Seasonal changes affect the airfare, book during off-seasons to get the best deal

	We come across many people who claim that there are days and seasons in which the flight tickets are the cheapest. The confirmation on which day has the cheapest planes flying out is yet to come out, but the best season to book for a plane ticket, if you're flexible with the date in which you're traveling, would be late August or early Spring.
	</li>
	<li>
	Tuesdays and Wednesdays give you the best deals to fly out

	While there exists a controversy surrounding whether there exists the cheapest day of the week to book flight tickets, there's no doubt about the cheapest day to fly! Tuesday and Wednesday are considered to be the cheapest days to take a flight. Sunday, for obvious reasons, is the most expensive. 
	Did you know that the average difference between international flight tickets on Wednesday and Sunday can shoot up to Rs.5000! That's enough to burn a hole in your pocket. So, every time you are booking a flight and you're reasonably flexible with the date, prefer flying out on Tuesdays or Wednesdays.
	</li>
	<li>
	Don't be sluggish

	Did you know that nearly 70% of the flight tickets booked in India are purchased less than 30 days before traveling? Except for the <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/save-money-on-flight-bookings.html" target="_blank">last-minute planners</a>, most of the flyers tend to wait for the fares to go down. Figure out the prime booking window for the year and book your flight tickets right away! 
	While you're having second thoughts over the fare, there will be someone who would grab the low-fare seat. So, one of the primary rules while buying flight tickets is to be informed about the booking window when you can get the best deals.
	</li>
	<li>
	Always compare the fares

	Even if airline companies tend to get competitive, they always set different prices for the same route. Browse the official websites of these companies. Make use of any offers or discounts available on the website, if you're a frequent flyer. 
	For example, IndiGo is offering flight tickets at Rs.1200 on select routes on travel between 11th July to 22nd September and the booking closed on the 30th of June. 
	So, even if you have a habit of procrastination, you can get a good deal a few weeks before the day of the flight. Keep an eye on the websites for exciting offers on the flight tickets. 
	 
	&nbsp;
	</li>
</ol>

Cheap airline tickets are not that difficult to find if you know where and how to look for it. Learn some tricks from the ardent travelers of mymoneykarma to find the best deals on airfare.

Tricks to Book the Cheapest Airline Tickets | mymoneykarma

If you're unaccustomed to this word, "death proofing" might sound extremely morbid. The concept is inspired by a Swedish word "döstädning,"&nbsp;which translates to 'death cleaning'. Margareta Magnusson's book "The Gentle Art of Swedish Death Cleaning" popularized this concept. “dö” means "death" and "städning" means "cleaning."

In Swedish, this term refers to the process of removing unnecessary things to make your home nice and orderly before you leave the planet. It applies to our finances as well. Let's face facts: death is inevitable. If we intend to leave behind a stellar legacy, we must <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/top-financial-mistakes.html" target="_blank">organize our finances</a> before we exit the world.

In the financial world, "death cleaning" or "death proofing" refers to the decluttering of finances that people should focus on as they begin to age and approach the end. It is a sensible concept which advises on getting rid of excess debt and simplifying our financial situation instead of leaving behind a financial mess for our heirs to sort out.

We should learn to clean our own mess. Life can get much easier for us if we can simplify and meticulously organize our finances; it also takes a potential extra burden off the shoulders of our descendants after we pass away. Responsible adults must understand the importance of "death proofing" your finances and undertake the process at the right time.

Of course, youngsters needn't really worry about it right away, but what's the harm in being well informed?

<h2 class="credit_i_h2">When?</h2>

Research has revealed that a person reaches the peak of their ability to make financial decisions at the age of 53. Moreover, dementia and cognitive decline generally tend to set in at around 60 years of age. Psychology claims that our decision-making and rational-think abilities decline as we age, hence making us vulnerable to scams, frauds, poor judgment and unreasonable actions.

The common assumption in the financial world is that 50 is the ideal age when we should initiate the task of decluttering our finances. We should do it mainly to protect our aging selves.

<h2 class="credit_i_h2">Why?</h2>

Why not? It is better safe than sorry, right? Have you ever had to sort out the <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/top-financial-mistakes.html" target="_blank">financial mess</a> of a deceased relative? My Grandpa had succumbed to Parkinson's disease and had trouble remembering things in his last days. When he passed away, my mother had a tough time gathering all his documents and information in order to proceed with the formalities of financial claims.

<a href="https://www.mymoneykarma.com/investing/index.html/grow-your-money-by-investing-in-mutual-funds.html" target="_blank">Some insurances</a> could not even be claimed as we couldn't trace the required documents. My mother was in a sorry state as she was already mourning the loss of her father and also had to tackle these glitches at the same time. I learned a valuable lesson and I would definitely not want my successors to go through such agony.

<img alt="Death Proofing your finances" src="../../../images/new/personal-finance/death-proofing-your-finances.jpeg" class="img-responsive credit_i_img">

Life is unpredictable. Memory is volatile. Diseases are rampant. Growing age makes a man physically and mentally vulnerable. A smart, pragmatic and thoughtful human would understand the importance of sorting out and straightening his or her finances.

<h2 class="credit_i_h2">Steps to "Death Proof" Your Finances</h2>

Here are a few steps that can guide you as you conduct a financial "death proof":

<ol class="homeloan_Faqs_ul_1">
	<li>
	Consolidate Financial Accounts

	The primary focus should be on integrating your <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/disadvantages-multiple-bank-accounts.html" target="_blank">scattered bank accounts</a> under a single one. Too many bank accounts can be quite difficult to manage. You might lose track of them. It is also more convenient to monitor fewer accounts for suspicious transactions. 
	If you have had multiple jobs, you might have various provident fund accounts. Consolidate the funds in each of them to reduce the financial clutter. If you have invested in stock and shares, it would be best if you swap all individual stocks and bonds for <a href="https://www.mymoneykarma.com/investing/index.html/grow-your-money-by-investing-in-mutual-funds.html" target="_blank">mutual funds</a>; get a professional to manage your investments. These steps will simplify your financial situation.
	</li>
	<li>
	Automate Payments

	Memory lapses are quite common as you age. If you forget to pay your electricity or cooking gas bill, you might be denied the supply of these essential items. If you forget to make a credit repayment, you not only have to pay late fees and tackle a high APR but <a href="https://www.mymoneykarma.com/credit-scores/index.html/how-late-payments-impact-credit-score.html" target="_blank">your credit score will also take a blow</a>. 
	It is better to set up automatic monthly payments for all your credit and utility bills. Most banks allow you to avail ECS or Electronic Clearance Service which automatically debits the billed amount from your savings account to pay the monthly bills that you have signed up for. 
	<a href="https://www.mymoneykarma.com/credit-cards/index.html/pay-off-credit-card-debt.html" target="_blank">Pay your credit bills</a> in full amount each month to avoid the burden of unnecessary extra payment. Just make sure that your savings account has sufficient money to fund all your bills.
	</li>
	<li>
	Repay Your Debts

	Take responsibility for your actions. If you have landed in debt, your poor sense of money management is the culprit. Your successors are not accountable for it; they must not be made to suffer for your mistakes. Be aware of what you owe and draw an effective budget plan that enables you to <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/how-to-reduce-debt.html" target="_blank">repay your debts as quickly as possible.</a>
	</li>
	<li>
	Fewer Credit Cards

	Most financial planners suggest that you should <a href="https://www.mymoneykarma.com/credit-cards/index.html/multiple-credit-cards.html" target="_blank">prune the number of credit cards</a> when you get on in years. If you ever had a lot of credit cards, it would be best to wrap up and slowly close the accounts of the ones that you barely use. 
	With increasing age, try to close most lines of credit and restrict yourself to using just two credit cards - one for daily purchases and another for emergencies. Keep the two cards that offer the highest credit limit. 
	Do remember that closing your credit accounts will <a href="https://www.mymoneykarma.com/credit-scores/index.html/reasons-for-credit-score-drop.html" target="_blank">hurt your credit score</a>, so make sure that you are financially secure and wouldn't be applying for a new loan before you start chopping off your credit card subscriptions. It would be ideal if you gradually unsubscribe over a period of a few months.
	</li>
	<li>
	Get a Confidant

	Identify a trustworthy person, preferably a family member, who can make decisions on your behalf if you are unwell. Entrust your financial and health details to this trusted person. This person should be able to attend to your needs if you are amidst a medical or gerontological emergency. 
	It would be ideal if this trusted person is someone quite young to ensure that he or she doesn't become impaired or incapacitated simultaneously. Grant him or her access to your financial accounts, or at least tell them where they can find the information during an emergency. 
	Get a lawyer to create your will in case you want to decide how your assets and property will be divided among your successors after you pass on.
	</li>
	<li>
	Consolidate All Documents

	It is better to keep all important documents handy in case of a crisis. You should create an "emergency" folder or a box where you keep all your crucial documents that your family might need in your absence. Keep this box or folder somewhere safe and keep your confidant informed about it. 
	Keeping it in your bank locker wouldn't be a great idea as it wouldn't be accessible at all times. A fireproof and locked safe or a locked cabinet would suffice. As we live in a digital age, you should also scan all your paperwork and store them safely in an encrypted folder in the cloud to help your successors in case your original documents are lost or misplaced.

	When you amalgamate this emergency folder, make sure that the following documents are safely packed in it:

	<ol class="homeloan_Faqs_ul_1">
		<li>
		Your will
		</li>
		<li>
		Medical documents
		</li>
		<li>
		Powers of attorney, if relevant
		</li>
		<li>
		Your Birth and marriage certificates
		</li>
		<li>
		Birth, marriage and death certificates of deceased family members
		</li>
		<li>
		Military records, if any
		</li>
		<li>
		Identity cards - <a href="https://www.mymoneykarma.com/trending-in-finance/index.html/how-to-apply-for-passport-using-mpassport-seva-app.html" target="_blank">Passport</a>, Voter ID, PAN, Aadhaar, Driving License, Ration Card, etc
		</li>
		<li>
		Car titles
		</li>
		<li>
		Property deeds and any other ownership documents
		</li>
		<li>
		A list of your financial accounts
		</li>
		<li>
		Insurance policies
		</li>
		<li>
		The contact information of your lawyer, financial advisor, insurance agent
		</li>
		<li>
		Photocopies of all identity proofs and credit cards
		</li>
	</ol>
	</li>
</ol>

<h2 class="credit_i_h2">To Sum Up</h2>

Life is packed with uncertainties and we never know what destiny has in store for us. Unforeseen circumstances are inevitable.

However, an aging man knows that his days are numbered. It is better to make life comfortable for those we leave behind before we finally leave for our heavenly abode. A financial "death cleaning" or "death proofing" could be a blessing to our successors.

&nbsp;

Death cleaning refers to decluttering your finances before you leave the world so that your successors don't suffer clearing your mess. Here are a few guidelines from mymoneykarma to help you in this process.

Death Proofing Your Finances | mymoneykarma

Vacations are very much essential for family bonding. They create an ultimate bond between your family members and allow you all to have cherishable experiences. Experiencing different cultures, their native food, scenic locations, etc. is worth the money you spend on a family vacation. However, you need to plan your vacations according to your budget. Here we are, to fill you in with the 12 best tips for a family vacation. Let’s teach you how to travel cheap.

Here are a few tips for a hassle-free and affordable family vacation.

<h3 class="credit_i_h3">Choose the Destination Wisely</h3>

Choosing a destination might be quite confusing. Follow these steps to clear out the confusion and select the destination wisely.

<ul class="banklogin_ul">
	<li>
	Fix the budget: Figure out how much money you can spend on the vacation. Else, you would end up getting into debts, which is not a good idea. So, if you are planning a trip on a budget, it is important to calculate your budget in your holiday fund by adding the funds with the amount you save till you leave for the vacation.
	</li>
	<li>
	Make a list of the destinations: There can be a lot of destinations suggested by your spouse, children or friends. List all the vacation spots. Think about the type of vacation that you’d want - a laid back beach or a cultural exploration or a vibrant city, and then it becomes easy for you to rule out the places that do not fall under your preference criteria, thus making it easy to plan a trip on a budget.
	</li>
	<li>
	Look into the safety risks: Safety must be a priority as you travel with your family. Look out for the government travel warnings and alerts in the area you want to visit. If the area is free from risks such as an accident, burglar or calamity prone area, then you can finalize the destination.
	</li>
</ul>

<h3 class="credit_i_h3">Book Your Flight Tickets in Advance</h3>

If you need an affordable family vacation, plan it well in advance; else you might end up spending more on flight tickets. The price of the flights increases with time due to dynamic pricing. Booking early always proved to be the best way to get the <a href="https://www.mymoneykarma.com/travel/i/8-tips-to-find-cheap-flights.html">cheapest flight tickets</a>. Here's a small tip - use an incognito window while browsing for the tickets. As the flight charges increase based on the cookies in your browser, the price of the particular route that you’re repeatedly searching will tend to increase. You can see the lowest prices in incognito mode. So, if you are concerned about planning a trip on a budget, this is one of the best ways.

<h3 class="credit_i_h3">Fly Mid-Week</h3>

If your travel dates are flexible, then travel in the middle of the workweek. For a visual illustration, go through any major airlines fare calendar. You can see that there is a fall on Tuesday and Wednesday and a spike on Thursday and Friday.

<h3 class="credit_i_h3">Weigh Your Luggage in Advance</h3>

Check with the limit of hand baggage and check-in luggage limit of the airlines. Weigh your luggage well in advance to check the limit. If it exceeds, you are imposed of certain charges. Stay alert and avoid those charges.

<h3 class="credit_i_h3">Reserve the Hotel in Advance</h3>

There are a lot of applications or websites where you can find great deals on hotels. Go through a few neutral sites and compare the price offered by different websites; select the ideal one. Also, you can set price alerts in the app such that you get a notification if the price falls. If you book for the first time, you may also get coupons. You can use those coupons and avail extra discounts to enjoy an affordable family vacation.

<h3 class="credit_i_h3">Go for a Complete Package</h3>

These days, we find a lot of travel agencies that provide packages for vacations. Inquire about some of the trusted agencies regarding packages and select an affordable family vacation package. These packages help you reduce your stress level by booking the hotels, arranging cabs and guiding you during your sight-seeing. These packages can be cost-effective, and you will have an idea on the expenditure beforehand.

<h3 class="credit_i_h3">Make Refundable Bookings If You Are Uncertain</h3>

If you are uncertain about your travel, we suggest that you make bookings that are refundable. However, these refundable bookings are quite costly. The bottom line is that if you’re unsure whether you’ll be able to travel during your original window, go for refundable bookings.

<h3 class="credit_i_h3">Don't Shop or Eat in the Tourist Area</h3>

It is better to shop or eat in the local areas rather than spending a lot of money in the tourist area. The price of mementos and souvenirs in the tourist areas is considerably high when compared to that in the local areas.

<h3 class="credit_i_h3">Travel Off-Season</h3>

The time you choose to travel could also have a tremendous impact on your budget, since prices fluctuate depending on the peak or off season. If you are really planning a trip on a budget, it is wise to head somewhere in the offseason. You can find costs far more economical than at peak times.

<h3 class="credit_i_h3">Make Overnight City Transits</h3>

You have limited vacation time. You lose a lot of time if you travel during the day. Apart from losing time, it is very economical to travel at night, as you can save on accommodation costs. This way, you can ensure an affordable family vacation.

<h3 class="credit_i_h3">Live on Local Food</h3>

Local food is the best option during vacations. You can relish the local flavors and save money by eating at street food stalls and local dhabas. Not only do you get to enjoy the authentic local cuisine, but you would inevitably find cheaper munchies if you are up for local food. Do consider the hygiene factor though.

<h3 class="credit_i_h3">Keep a Tab on Cell Phone Costs</h3>

A vacation is when you devote your time to enjoy the destination with your family. Refrain from talking endlessly on the phone. Remember that you are on roaming - call charges might be quite high. Moreover, all your important work can and should wait until you finish your vacation.

<h2 class="credit_i_h2">To Sum up</h2>

Those given above are the 12 best tips for a family vacation. These are the key points you must keep in your mind while planning for the cheapest family vacation. So, plan your trip accordingly and have lots of fun. Happy Vacation!

&nbsp;

Want to go on a budget-friendly family vacation? mymoneykarma provides you all the tips you need for a hassle-free and affordable family vacation.

Family Vacation On A Budget | Saving Money On Your Family Vacation

Traveling abroad is no big deal anymore. However, that doesn’t make a foreign destination any less of an excitement! The stark difference in culture, food, and language elevates the experience to another dimension. Nevertheless, there is a lot more that one encounters while traveling to a foreign country other than the language and food. One such critical aspect is the rattling difference in currency across nations.&nbsp;

<a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/currency-conversion.html" target="_blank">Currency conversion</a> is not as simple as you might think. It's not as if you can walk in and exchange dollars instead of your INR's. Before you start packing for your vacation, it is essential to understand foreign currency and how to deal with it. If you are not careful enough about currency conversion, it can turn out to be a point of bother, which is why you should commit enough time to research on the topic.

A basic knowledge of the conversion rates, service charges, and other fees involved in the process will definitely help you to relieve a lot of stress and enjoy the place more.

Although cash may seem like a good enough option, but it has its own set of cons. With the advancement in technology, the world is now running on plastic money, and thus, there are limitless options to carry cash to a foreign country.

However, it is important that your cards are accepted over at your destination. That’s why you should take up prepaid forex cards while traveling abroad, as they are really suitable for this very purpose. First, let’s take a look at the different&nbsp;types of cards made available for travelers:

<h3 class="credit_i_h3">Travel Credit Cards</h3>

<a href="https://www.mymoneykarma.com/credit-cards/index.html/how-to-fly-for-free-with-travel-credit-cards.html" target="_blank">These cards</a> are especially built to suit your traveling needs. These cards come with several benefits, which allows you to make purchases and payments at retail stores, restaurants, or anywhere else while traveling. Besides, most of these travel credit cards offer <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/frequent-flyer-programs-india.html" target="_blank">bonus points for booking flights</a> and hotels. Apart from that, the more you spend, the more reward points you earn; you can <a href="https://www.mymoneykarma.com/credit-cards/credit-card-reward-points.html" target="_blank">reap their benefits by redeeming them</a> later.

<h3 class="credit_i_h3">Forex Travel Cards</h3>

Prepaid travel cards like <a href="https://www.mymoneykarma.com/travel-lifestyle/forex-travel-card.html" target="_blank">Forex travel cards</a> can be loaded with multiple currencies, and you can avoid paying additional conversion charges. These travel cards are readily available and provide better exchange rates that do not fluctuate once money is loaded on the forex card. These cards are safer as well as cheaper in terms of conversion rates and charges.

Forex travel cards have many advantages over cash, <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/credit-card-tips-overseas-travel.html" target="_blank">credit cards</a>, debit cards or traveler's cheques. They offer better exchange rates for loading currencies than you would get on buying foreign currency as cash. Moreover, it also gets easy for the banks to provide forex cards, as it is a cheaper option. Here are the many benefits that you can avail by using forex travel cards:

<ol class="homeloan_Faqs_ul_1">
	<li>
	No Effect of Fluctuations - Forex cards loaded with foreign currency are immune to the fluctuations in the currency value, as the amount is added at locked-in exchange rates. So, for instance, if you have USD 1000 on your forex card, the value in the card will stay USD 1000 irrespective of fluctuations in the INR-USD exchange rate.&nbsp;&nbsp;&nbsp;&nbsp;
	</li>
	<li>
	Forex for Safety - Safety is always a concern, and forex travel cards guarantee your financial security. Forex cards come enabled with chip and PIN technology for safeguarding the money in them, making it a way better option than carrying cash. Besides, you can block the card and freeze the balance in case the <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/lost-credit-or-atm-card-abroad.html" target="_blank">card gets lost or stolen</a>. Moreover, once a secondary forex card is issued, the funds can readily be transferred to it.&nbsp;&nbsp;&nbsp;
	</li>
	<li>
	Multi-Currency Cards - What if you have to visit two different countries with different currencies? It would be insane if one decided to carry cash, as they will surely lose out a lot of money in exchange rates. That's where forex cards act as your savior. Prepaid forex travel cards allow you to carry multiple foreign currencies at the same time in a single card. For instance, Axis Bank forex travel cards enable you to load up to 16 popular currencies such as Denmark Krone (DKK), Australian Dollars (AUD), Hong Kong Dollars (HKD), Euro (EUR), Japanese Yen (JPY), etc.&nbsp;&nbsp;
	</li>
	<li>
	No Exchange Rates - Exorbitant exchange rates are levied on the use of debit or credit cards, whereas the prepaid forex cards have no additional charges when you swipe it at PoS counters abroad. The rates otherwise are incredibly high, and would cost you around 5-11% extra of the total <a href="https://www.mymoneykarma.com/credit-cards/index.html/foreign-transaction-fee-on-credit-cards.html" target="_blank">transaction charges</a>!&nbsp;&nbsp;&nbsp;&nbsp;
	</li>
	<li>
	No Dynamic Currency Conversion Fee - The Dynamic Currency Conversion (DCC) fee is not applicable on forex cards, as they are already loaded with the local currency of a foreign country. However, if you are using a debit card or credit card for a transaction, then DCC would add an extra 3-5% charge on your transaction cost.
	</li>
	<li>
	Universal Recognition - Forex travel cards are universally recognized and accepted, unlike outdated traveller's cheques.
	</li>
	<li>
	Withdrawing Cash -&nbsp; Forex cards can be used to withdraw money from any nearby ATM, as opposed to encashing traveler's cheques, which would put you through the trouble of finding establishments willing to accept it. Besides, you can even use forex cards for online transactions through e-commerce platforms abroad.
	</li>
</ol>

<h2 class="credit_i_h2">To Sum Up</h2>

Traveling abroad needs to be safe and comfortable experience for you to truly enjoy it. Forex travel cards will help you beat the hassle of <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/travel-tips.html" target="_blank">carrying cash around while traveling</a> abroad. So, if you have plans to travel abroad, consider buying a Prepaid Forex Card to roam around stress-free.

Prepaid travel cards, such as forex travel cards, offer several benefits while traveling abroad. Know the advantages of prepaid and forex card and have a hassle-free traveling experience.

Prepaid Travel Cards - Prepaid Forex Card

The life of an Indian woman has always been full of struggle. The passion for success and financial independence is so strong in most modern Indian women that they often neglect their health. While struggling to balance a job, family responsibilities, children and household chores, women hardly get any time to pamper themselves physically and mentally. However, some health experts say that even a minimal amount of care can help in keeping women's health fit. So, here we are with a list of general health tips to keep you in good shape without burning a hole in your pockets.

<h3 class="credit_i_h3">General Health Tips for Busy Women</h3>

<ol class="homeloan_Faqs_ul_1">
	<li>
	Take a minimum of 7-8 hours sleep: Amidst your busy schedules, erratic work shifts, and household responsibilities, most women feel restless and don't sleep well, which leads to health issues such as headaches, back pain, weak immune system, blood pressure fluctuations, cardiovascular disease, etc. Also, sleep deprivation results in weight gain and causes drowsiness during work hours. So, make your nap goals and try to accomplish 8 hours of sleep to start your day fresh.
	</li>
	<li>
	Enjoy a sip of green tea: If you are not fond of green tea and hate to have it for breakfast, then start having it during work hours. The regular masala tea might be irresistible for most Indian women; however, you can always take the first step by reducing the number of cups you have in a day. For instance, if you are in the habit of drinking three cups of tea a day, then try to cut it down to two and eventually you will come down to one. Gradually, start replacing the masala tea breaks with green tea. Green tea plays an integral role in weight loss.
	</li>
	<li>
	Start your day with a healthy breakfast: Begin your day with a light breakfast consisting of all the required nutrients. Oats, muesli, eggs, upma, brown bread sandwich, etc. are good choices. Don't skip breakfast - it may increase your body fat rather than burning calories.
	</li>
	<li>
	Go for a walk/dance/yoga: If you don't have time for doing any activity in the morning, then do it in the evening time returning from office. Just a thirty minutes walk or dance or yoga is enough to rejuvenate your mind and keep your body active.
	</li>
	<li>
	Have a healthy diet: Even if you can't maintain a strict diet, such as Keto and Paleo, start following the basic mantras of dieting. Avoid junk food and replace it with a healthy snack such as dry fruits, fruits, boiled peanuts, etc. Also, start reducing your rice and sugar intake gradually since you can't avoid them entirely in the first step. Maintaining a healthy diet will save you an innumerable amount of money - not only does it <a href="https://www.mymoneykarma.com/personal-finance/i/6-ways-to-kill-the-will-to-splurge.html">reduce your splurging tendency</a> on junk food but also helps you save some bucks by cutting down your trips to the doctor.
	</li>
	<li>
	Remind yourself to take a stroll between busy work hours: If your job demands you to sit for long hours, then don't succumb to it; start taking breaks after every hour and go for a walk. Also, keep stretching your hands and back at short intervals while sitting.
	</li>
	<li>
	Drink water at regular intervals: If you are amongst those who need to set a reminder for drinking water, then begin it now and keep your body hydrated. If you can't drink four bottles of water in a day, that's okay; but integrate this activity in your habit and stay healthy. Drinking water at regular intervals can help burn calories faster.
	</li>
	<li>
	Eat less at night: Don't consume heavy meals at night, especially if there is less gap between your dinner and sleep time. In case you have the habit of taking a heavy meal for dinner, then don't forget to go for a slow walk after it.
	</li>
	<li>
	Sit alone for ten minutes and listen to some soothing music: The ultimate aim of meditation is to rejuvenate your mind and body. However, if you can't meditate, then take out ten minutes in the evening from your busy schedule, sit alone and listen to your favorite songs. It will surely refresh your mind and make you feel relaxed.&nbsp;
	</li>
</ol>

<h2 class="credit_i_h2">In a Nutshell</h2>

These are some simple fitness tips that you can implement in your daily schedule, and following these tips will help you save a lot of money as you won't be required to spend on gym memberships and frequent visits to the doctor.

Busy women often face issues in taking care of their health. Here on mymoneykarma, we have listed some of the simple health tips that you can follow.

8 Useful Health Tips within a Budget for Indian Women to Stay Fit

We get it. You’re in your 20s. By default, you are jumping around like a gazelle. Good for you.

Given that you have come to this page, however, let's get straight to the point. You need money to buy a home, and a mortgage seems to be the only solution. But you’re in your 20s. Can you even get one at this age?

The answer is yes. Well, here we can safely assume that another question would be bugging you at this point - how does one get a mortgage in their 20s?

It isn't an impossible task to achieve; all you have to do is set a goal. Whether it is related to studying abroad or wanting to <a href="https://www.mymoneykarma.com/buying-a-home/index.html/best-time-to-buy-home.html" target="_blank">buy a home</a>, treat it as a long term goal, and prepare for it accordingly. Here, mymoneykarma has listed some points, considering which can help you in getting a mortgage:

<h3 class="credit_i_h3">Have a Regular Source of Income</h3>

Income is an essential factor that decides your eligibility for any loan. For instance, if your income is Rs.25000, you won't be eligible for getting a home loan of Rs.20,00,000. Your <a href="https://www.mymoneykarma.com/loans/debt-to-income-ratio.html" target="_blank">debt-to-income ratio</a> would be abysmal.

Hence, before you think of borrowing mortgage, you must have a substantial source of income to achieve your goal.

<h3 class="credit_i_h3">Pay Taxes Diligently</h3>

If your income is taxable, <a href="https://www.mymoneykarma.com/taxes/index.html/why-do-we-pay-income-tax.html" target="_blank">pay the taxes</a> on time, as the banks and other financial institutions consider <a href="https://www.mymoneykarma.com/taxes/index.html/what-is-form-16.html" target="_blank">Form-16</a> and <a href="https://www.mymoneykarma.com/taxes/index.html/5-reasons-to-file-itr.html" target="_blank">ITRs</a> of at least three years to approve the loan.

<h3 class="credit_i_h3">Build Credit at an Early Age</h3>

Your <a href="https://www.mymoneykarma.com/credit-scores/index.html/what-is-credit-score.html" target="_blank">credit score</a> can decide whether the lender should take the risk of lending you money or not. For building good credit, you need to begin credit activities at least a year before applying for a mortgage.

If you have had a student loan and paid your EMIs diligently, then you don't need to worry. However, if you don't have a credit history yet, then get a credit card to start building it. A <a href="https://www.mymoneykarma.com/credit-cards/index.html/secured-vs-unsecured-credit-cards.html" target="_blank">secured credit card</a> would be best to start out.

<h3 class="credit_i_h3">Keep Your Payment History Clean</h3>

Once you get a credit card, use it responsibly. <a href="https://www.mymoneykarma.com/credit-cards/index.html/pay-off-credit-card-debt.html" target="_blank">Pay your bills on time</a> and set an auto-debit facility to save yourself from paying any penalties on missed or <a href="https://www.mymoneykarma.com/credit-scores/index.html/how-late-payments-impact-credit-score.html" target="_blank">late payments</a>.

<h3 class="credit_i_h3">Save Money for Downpayment</h3>

Whether your goal is to study abroad or to buy a home before turning 30, it's vital to <a href="https://www.mymoneykarma.com/buying-a-home/index.html/arrange-down-payment-for-buying-new-home.html" target="_blank">save money for a down payment</a>.&nbsp;&nbsp;

For getting an education loan of above Rs. 4,00,000, you need to make a down payment of 15% for studying abroad; whereas, in a home loan, only 80% of the amount is disbursed by the lenders.

<h2 class="credit_i_h2">To Sum Up</h2>

As we said earlier, getting a mortgage in your 20s to accomplish your goal isn't an impossible task if you plan for it. However, you should repay the mortgage on time to maintain your credit health and keep your achievement intact.

Need to apply for a home loan?&nbsp;<a href="https://www.mymoneykarma.com/credit-score/home-loan-credit-score.html?utmsrc=homeloan_enquiry" target="_blank">Apply right away</a> with mymoneykarma. We promise not only a hassle-free process, but also the best interest rates from across banks.

 Wondering how to get a mortgage in your 20s? Read this blog on the mymoneykarma website to get the solution.

Buying a New Home: How to Get a Mortgage in Your 20's

You are excited to start your own business, and you have a revolutionary idea that could change the world. You have done thorough research on the concept, and it's all set to be implemented except for a single problem - you don't know where to get business funding for your startup. The painstaking yet exciting journey from the inception of the idea to building a revenue-generating business needs a fuel named 'capital.' Startup funding is a significant hiccup faced by many young entrepreneurs in the country, and most business ideas fizzle out owing to a lack of funds.

There are many funding options in India to finance your startup. mymoneykarma brings you eight ways to fund your new business. You can go through them and adopt one that would suit your business the best.&nbsp;

<h3 class="credit_i_h3">Bootstrap Your Business</h3>

Bootstrapping or self-funding is an age-old practice of getting your business started. Often, first-time entrepreneurs face difficulties in getting investors on-board as no one wants to take risks with first-timers. If you are a new entrepreneur, bootstrapping might be an excellent option to get your business started. There are fewer formalities involved, and you are much more invested in your startup. You should note that you can bootstrap your business only if the capital requirement is less at the beginning.

<h3 class="credit_i_h3">Choose Crowdfunding</h3>

Crowdfunding is another way of funding a startup that is gaining traction these days. It gathers contributions from the common public on open platforms. An entrepreneur has to put up a detailed description of his business on a crowdfunding platform and mention the goals of the startup and plans for making a profit, along with the funding amount required and reasons behind the requirement. With this approach, people can contribute money toward helping a business that they believe in. Crowdfunding can also generate interest in the venture, and hence it helps in marketing the product alongside financing. Remember that crowdfunding is a competitive place to earn funding. Therefore, if your business proposal is not rock solid, you may not find crowdfunding to work for you in the end.

<h3 class="credit_i_h3">Get Angel Investors For Your Startup</h3>

Angel investors are individuals or organizations with surplus cash and are keen to invest in promising startups. They often work in groups or networks so that they can collectively screen the proposals before investing. Apart from capital, they can also offer you mentoring or advice . Some of the most famous angel investors are Alibaba and Google. Angel investors invest in your company in exchange for equity. Indian Angel Network, Mumbai Angels, and Hyderabad Angels are a few of the famous angel investment groups in India that are known to fund many Indian startups.

<h3 class="credit_i_h3">Venture Capital For Your Business</h3>

Venture capitals are professionally managed funds invested in startups that are deemed to have tremendous potential. Venture capitalists (VCs) invest in your startup against equity and exit when there is an IPO or an acquisition. VCs provide expertise and mentorship apart from evaluating your business from a sustainability and feasibility point of view. A venture capital investment is appropriate for bigger startups that are beyond the startup phase and are already generating revenue. However, VCs are known to be impatient to recover their investment within a three-five year time period. If you have a product that can take longer to get going in the market, then it may be difficult for you to convince a venture-capital investor to fund your startup.

<h3 class="credit_i_h3">Get Your Funding From Business Incubators &amp; Accelerators</h3>

You can also consider incubator and accelerator programs as your funding options. Incubators help provide initial assistance in the form of office space, financial backup, and mentorship programs. Accelerators offer similar support to more prominent startups to help them start revenue generation.

These programs typically run for 4-8 months and require commitment from you as a business owner. You will be able to connect with investors, mentors, and other fellow startups using such platforms.

<h3 class="credit_i_h3">Raise Funds By Winning Contests</h3>

You can participate in several contests organized by several industrial organizations to promote new entrepreneurial talent. In such contests, you either have to build a product idea or prepare a business plan. These competitions can get you media coverage and marketing exposure. Some of the popular contests in India are NASSCOM 10000 startups, Microsoft BizSpark, Conquest, Next BIG Idea Contest, and LetsIgnite.

<h3 class="credit_i_h3">Raise Money Through Bank Loans</h3>

Almost every bank in India offers finance for your startup through various programs. Leading Indian banks such as Bank Of Baroda, HDFC, ICICI, and Axis bank offer different options of collateral-free business loans. Moreover, personal loans can also aid you in setting up your business. You&nbsp; can bank upon the financial expertise of mymoneykarma, where we not only take care of your loan application and disbursal but also guarantee affordable interest rates.

<h3 class="credit_i_h3">Opt For Govt Programs that Offer Startup Capital</h3>

You can also opt to register as a startup in the various schemes started by the Government of India. The Indian government had launched Rs 10,000 crores worth of Startup Fund in the Union Budget of 2014-15 to improve the startup ecosystem in India. To boost innovative products and companies, the government has launched the 'Bank Of Ideas and Innovations' program. Also, different states have come up with various programs, such as the Kerala State Self Entrepreneur Development Mission (KSSEDM), Maharashtra Centre for Entrepreneurship Development, and Rajasthan Startup Fest, to encourage innovative startups. If you meet the eligibility criteria, government grants could be one of the best funding options for your startup. You need to be aware of the various government initiatives to utilise them prudently.

<h2 class="credit_i_h2">To Sum Up</h2>

If you want your startup to grow fast, you probably need external sources of capital. If you bootstrap your enterprise but end up remaining without external funding for too long, your finances may fizzle out before your product or service takes off. While the plethora of funding options available may make it easier than ever for you to get started, it's also essential to invest in good accounting software and keep your finances in order.

Startup funding in India requires a lot of capital, which is difficult to arrange and procure during the initial stages. mymoneykarma tells you all that you need to know.

Startup Funding India - Crowdfunding For Startups In India

I always traveled without travel insurance, and I am not proud of it.

Being a middle-class Indian, my vested interests had always been in saving a few extra bucks here and there rather than contemplating the potential dangers of traveling without insurance. My first ever international trip was to Singapore. The year was 2014. I had just started working back then and was quite low on funds. My best friend, who had been working in Singapore then, invited me over. My wanderlust took over, and <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/master-the-art-of-frugality.html" target="_blank">frugality</a> took a back seat.

I saved up each penny for the trip. While I researched extensively on <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/currency-conversion-101.html" target="_blank">currency conversion</a> rates and cheap flight deals to plan a <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/travel-for-cheap.html" target="_blank">budget trip</a>, I didn't spare a single thought to international travel insurance. Well, I had clearly made a huge mistake. I ran into a severe medical emergency in Singapore, and then I had to break the bank to make ends meet. This was when I realized the importance of travel insurance and regretted not having taken one.

<h2 class="credit_i_h2">What is Travel Insurance?</h2>

Travel insurances are meant to protect people during trips. They typically cover medical expenses, trip cancellation costs, lost luggage, accidents and other losses incurred while traveling. They also provide coverage for legal liabilities and corresponding expenses. Usually, travel insurance can be purchased while booking a trip to cover the exact duration of that trip. Most travel insurance plans offer coverage for the following:

<ul class="banklogin_ul">
	<li>
	Unexpected flight cancellation
	</li>
	<li>
	Loss of luggage
	</li>
	<li>
	A sudden need for prescribed medication
	</li>
	<li>
	<a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/lost-credit-or-atm-card-abroad.html" target="_blank">Theft of wallet</a> and passport
	</li>
	<li>
	Cancellation of the trip due to sickness
	</li>
	<li>
	Medical emergency in a foreign country
	</li>
	<li>
	Sudden evacuation due to natural calamities
	</li>
	<li>
	Personal Accident cover
	</li>
	<li>
	Trip cancellation due to terrorist activities at the destination
	</li>
</ul>

Travel insurances can be personalized to fit your specific purpose, but its main purpose is to give you the essential peace of mind required while you are out of your comfort zone and exploring the world. Let's look into why travel insurance is very often woth the cost.

<h3 class="credit_i_h3">Benefits of Travel Insurance</h3>

Medical Emergencies

During my trip to Singapore, I was overwhelmed by the spread of cuisines available there. Being a big foodie, I indulged in uncountable delicacies. I particularly overindulged in seafood. I woke up next morning in a terrible state - with severe diarrhea, high fever and feeling extremely nauseous. Self-medication didn't work, and my condition rapidly deteriorated. I had to be hospitalized and treated for food poisoning.

Apparently, the crab meat was the culprit. This little stint with crab meat cost me more than SG$1000, which converted to a whopping Rs.40,000 in Indian currency. My Indian <a href="https://www.mymoneykarma.com/insurance/index.html/benefits-of-family-health-insurance.html" target="_blank">health insurance</a> didn't cover it. However, travel insurance could have spared me the horror of such a hefty expense. Sadly, I hadn't purchased one.

<img alt="Why Should You Buy Travel Insurance" src="../../images/new/travel/why-should-you-buy-travel-insurance.jpg" class="img-responsive credit_i_img">

Most of us overlook this crucial factor. We often assume that we are covered for medical emergencies if we already have existing health insurance. However, most Indian health insurance policies provide coverage only within India. The moment you step out of the country, you are at risk. I learned this the hard way.

Most travel insurances provide Medical Expense Coverage that covers you for accidents and emergency medical care when you travel abroad. It even pays for emergency evacuation and repatriation in case of critical medical crisis, which is otherwise devastatingly expensive and unaffordable for many.

Lost Bags, Delayed Bags, Delayed Flights

My parents had visited Bali in 2015. Having landed at Bali Airport, they eagerly waited by the conveyor belt for their bags. However, their suitcases never arrived! Upon further inquiry, they were informed that their bags would arrive on the next day. Moreover, when they went back to the airport the next day to claim their delayed baggage, Mom got her suitcase, but Dad's couldn't be found.

They were at their dream destination in a vacation mood - the sea was inviting them for a refreshing swim, but the poor old guy did not have his swimming trunks! Moreover, their return flight was delayed by 9 hours. Doesn't it sound like a cursed trip?

Unlike my Singapore trip, this story ends on a brighter note. My earlier horrific experience at Singapore had thankfully taught my parents a lesson, and they were wise enough to purchase travel insurance this time. The travel insurance had Baggage Delay Coverage which covered for the purchase of essential items, such as a toiletry kit and a change of clothes until the delayed bags arrived almost 30 hours later. The insurance also provided Baggage Coverage, which reimbursed Dad for his lost belongings. The Travel Delay Coverage paid for the extra night in a hotel.

24x7 Assistance Worldwide

I was on an adventure-packed backpackers' trip to Europe last year. The trip was exhilarating until one day, in Holland, when I was mugged. My <a href="https://www.mymoneykarma.com/trending-in-finance/index.html/how-to-apply-for-passport-using-mpassport-seva-app.html" target="_blank">passport</a> and wallet were gone, along with all the Euro I had. I was shaken up by the horrific experience that followed.

Since I don't speak Dutch, I could barely communicate. The Dutch folks barely spoke English, and I was at my wit's end trying to convey my problem to the local police. My trip almost got derailed! Thankfully, the 24x7 customer support helpline of the travel insurance company came to my rescue.

Every travel insurance company provides 24x7 support for such needs. They not only helped me overcome the language barrier with telephone interpretation assistance but also organized to transport me back to my hotel. They assisted me with my search for the lost belongings, provided stolen luggage replacement assistance and expedited the process of replacing my passport.

This service is extremely valuable in times of crisis. The 24x7 Travel Assistance Services can help with all kinds of emergencies during travel. This service comes especially handy during medical emergencies - they can locate nearby hospitals, organize medical transportation, and also arrange for treatment.

Canceled Trips

A meticulously planned trip involves a lot of investment and expectations. What if something goes awry, and the trip is canceled? Apart from a shattered heart, a lot of money will be at stake - the <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/tips-to-book-cheapest-flight-tickets.html" target="_blank">flight tickets</a>, the hotel bookings, and all other prepaid reservations. However, if you shell out a tad bit more for travel insurance, you can easily avoid these risks.

Most of these insurance policies offer Trip Cancellation Coverage that reimburses for all prepaid non-refundable expenses if the trip is canceled before departing. Some policies also offer Trip Interruption Coverage that provides similar protection in case the trip is interrupted midway. These coverages are typically applicable to reasons like:

<ul class="banklogin_ul">
	<li>
	You or a traveling companion is sick or injured
	</li>
	<li>
	Personal emergencies like a death in your family or loss of your job
	</li>
	<li>
	Natural disaster or terrorist incident in the destination
	</li>
	<li>
	The bankruptcy of your travel agency
	</li>
	<li>
	Unexpected flight cancellation
	</li>
</ul>

These might not be frequent occurrences, but why should you take a chance?

<h3 class="credit_i_h3">Factors for Consideration</h3>

Now that I have established the significance of travel insurance, let me tell you about a few important factors that come into play while purchasing one.

<ul class="banklogin_ul">
	<li>
	Destination: Where are you going? Is it a domestic or an international trip? Is it a single trip or will you be traveling frequently throughout the year? All of these factors affect the type of insurance you need. Make sure that the policy you buy covers your destination. <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/frequent-flyer-programs-india.html" target="_blank">Those traveling frequently</a> can consider multi-trip packages or annual travel insurance, which are more cost-effective.
	</li>
	<li>
	Age: The age of the person insured is crucial. Opt for a package that suits your age. If you are traveling with your kids, look for family travel insurance packages that extend coverage to the kids too.
	</li>
	<li>
	Coverage: Different insurance companies provide different travel insurance policies with various types of inclusions and exclusions. While most of these policies cover for standard items, like medical and other emergencies, trip cancellation, baggage, liability, etc., you must consider getting coverage for other unique areas. 
	You might want coverage for sports and activities that you plan to participate in or wish for your valuables (camera, laptop, iPod) to be insured. Make a list of the kinds of cover you require before you go insurance-shopping.
	</li>
	<li>
	Sum Insured: A little attention to detail can help you understand how much cover you need. Consider your current financial situation, look into your <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/how-to-save-for-a-vacation.html" target="_blank">trip budget</a> and attribute a dollar value to all expenses involved in the trip to approximately estimate the value of coverage you might need. Choose the policy accordingly.
	</li>
	<li>
	Medical History: Travel insurances can greatly benefit you during medical emergencies. However, some policies may not cover pre-existing medical conditions and certain illnesses, sometimes even excluding <a href="https://www.mymoneykarma.com/insurance/index.html/best-health-insurance-for-parents.html" target="_blank">coverage for senior citizens</a>. Explore these avenues before investing in a particular policy.
	</li>
	<li>
	Terms and Conditions: Read the policy terms and conditions carefully to understand the inclusions and exclusions. Get acquainted with the circumstances, activities and events that might exclude you from coverage. In case you don't understand the clauses, seek clarification before purchasing the policy.
	</li>
	<li>
	Company History: <a href="https://www.mymoneykarma.com/insurance/life-style-insurance-plans.html" target="_blank">Compare travel insurance packages</a> and also consider the reputation of the insurance company as well as its claim settlement ratio before zeroing in on one.
	</li>
</ul>

To Sum Up

Danger lurks around every corner, and it surely won't come with a loud and clear warning. It is better to take precautions than crying over spilled milk. You can easily buy travel insurance online through the same sites where you book your tour packages and tickets.

So, the next time you book a trip or a flight ticket, resist the temptation to deselect that tiny little box for travel insurance and stay away from travel troubles. You never know...spending a few extra hundred bucks might help you save thousands more.

&nbsp;

Travel insurances can come to your rescue during emergencies. Get one before itâ€™s too late. Here is mymoneykarma to tell you about the importance of travel insurances and guide you in purchasing one for your next trip.

Why Should You Buy Travel Insurance | mymoneykarma

Are you a frequent flyer paying a lot of money to the airlines and still not getting any benefits? If your answer is yes, then you should join a frequent flyer program.

Now, you might be wondering what a Frequent Flyer program is.

A Frequent Flyer Program (FFP) is a reward scheme introduced by airlines to win the loyalty of their customers, by encouraging them to accumulate points or flier miles popularly referred to as ‘travel points’. These points or miles can later be <a href="https://www.mymoneykarma.com/credit-cards/index.html/credit-card-reward-points.html" target="_blank">redeemed for rewards</a> in the form of free flights, priority check-ins, <a href="https://www.mymoneykarma.com/credit-cards/index.html/priority-pass.html" target="_blank">complimentary lounge access</a>, upgrading ticket from economy class to business class, etc., and are applicable in domestic as well as international flights. A rough calculation says that through FFP, one has the chance of getting a free flight after every eighth or tenth flight.&nbsp;

These programs were initially focused on awarding reward points to customers for the miles flown, but few rules have changed now. The focus has shifted from the distance traveled by a customer to the amount of money spent on the flight tickets. &nbsp;There are a number of ways to earn travel miles apart from just flying; booking a ticket on the airline’s website, subscription of magazines, partner cards, <a href="https://www.mymoneykarma.com/credit-cards/index.html/how-to-fly-for-free-with-travel-credit-cards.html" target="_blank">spending on cards</a>, staying at hotels that have a partnership with airlines - several such ways can fetch you reward points. The frequent miles accumulated by the clients get upgraded to a higher status or elite membership as each airline has set up slabs of a certain number of miles to cross before inviting you for a higher status.

The higher status is defined by the juicy perks, such as priority check-ins, priority baggage handling, bonus miles, free upgrade on seats, etc.

Registering for the frequent flyer program is an easy process. You can do it by providing KYC documents and logging in with your email id.&nbsp;

Types of Frequent Flyer Programs in India:&nbsp;

<ol class="homeloan_Faqs_ul_1">
	<li>
	Flying Returns by <a href="https://www.airindia.in/" target="_blank">Air India</a>
	</li>
	<li>
	Club Vistara by <a href="https://www.airvistara.com/trip/" target="_blank">Vistara</a>
	</li>
</ol>

<h3 class="credit_i_h3">1.Flying Returns by Air India:</h3>

Flying Returns is believed to be one of the most reward promising and oldest FFP offered in India by Air India. Although Air India covers numerous domestic and international routes, yet the benefit of this program is due to its association with Star Alliance. This implies that one has the chance of earning miles through Star Alliance too, whose network is huge. So, if you achieve an elite ranking in Flying Returns, it implies that you will get the chances of accessing superb flight experience with the airlines associated with Star Alliance. There are other associations of Star Alliance which provide better benefits in this program than Air India; Air India miles can be accrued in those associated airlines too. However, the notable point is that you can’t accumulate and redeem the points for economy class.

There are three membership clubs of Flying Returns Program:

1.The Maharaja Club- Elite Tier

2.The Golden Edge Club

3.The Silver Club&nbsp;

Here, the premium members get the physical membership cards while the new members get virtual cards which can be downloaded from the website.&nbsp;

If you want to earn miles and retain the Star Alliance Gold membership status by being a frequent International flyer, then here are some of the frequent flyer programs which you may &nbsp;consider:

1.Egyptair plus: It includes 30,000 flier miles in two years after attaining the silver status.

2.Asiana Club: It includes 40,000 flier miles in two years of flying after attaining silver status.

3.SAS Brunis: 45000 miles in a year

4.For Singapore Airlines, Air India Flying Returns, Eva Air Infinity Mileagelands: 50,000 miles in a year.

5.Lufthansa and other European Airlines: 100,000 miles in a year.

&nbsp;<img alt="" src="https://mmk-s3-cms.s3.amazonaws.com/1570195295415.jpeg" class="img-responsive credit_i_img">

<h3 class="credit_i_h3">2.Club Vistara by Vistara:&nbsp;</h3>

Vistara is new in the market claims to be one of the fastest, transparent and easy to navigate rewarding programs all over India. Club Vistara is unique due to its Tier Match program, in which they give complimentary gold memberships to elite members of other frequent flyer programs who choose to make a shift to Vistara. This membership was launched in 2015 and was awarded for three months, after which, the member needed to take 12 Vistara flights to earn the platinum membership. Vistara is partnered with Singapore airlines internationally; so, the members have the chance of earning miles in Singapore Airlines or Silkair flights. It works vice-versa as well, which means that even a Silkair program member can accumulate points in Vistara.&nbsp;

Every tier has a certain number of points, which, upon successful accumulation, will upgrade you to the next level. There are three tiers in the frequent flyer program of Vistara:

<ol class="homeloan_Faqs_ul_1">
	<li>
	CV Silver: &nbsp;The member needs to earn 20 flights or 15000 points to upgrade.
	</li>
	<li>
	CV Gold: Here the member needs to earn either 25000 points or 30 flights to move to the next level.
	</li>
	<li>
	CV Platinum: 40,000 points or 40 flights needs to be taken by the member.&nbsp;
	</li>
</ol>

In Club Vistara Elite Tier qualification, the status of the member is evaluated by the company through the points earned through flights on daily basis in the entire period of 365 days. As soon as the member achieves one level, he is upgraded to the next tier. After upgrade or renewal, the elite status remains valid for at least 12 months.&nbsp;

<h3 class="credit_i_h3">Credit or Debit Cards that have Tie-up with Airlines is Another Option:&nbsp;</h3>

Yatra SBI Credit Card: It is offered by SBI in collaboration with Yatra.com. Through this card, members can get a cashback of Rs.100 on the first transaction. Travel vouchers are also offered by Yatra.com after the member pays the joining fee. This card allows customers to earn a handsome number of reward points, complimentary lounge access, railway ticket bookings, <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/how-to-do-balance-transfer.html" target="_blank">balance transfer</a>, etc.

<h3 class="credit_i_h3">Apps for Tracking Miles of Different Flyer Programs:</h3>

<ol class="homeloan_Faqs_ul_1">
	<li>
	TripIt: It helps in consolidating miles of different FFP into one account.
	</li>
	<li>
	Airhob: It shows the number of miles earned and helps in managing them effectively.
	</li>
</ol>

If you are a frequent flyer and have no idea what frequent flyer programs are there in the market which can help you in saving a lot of money, then here is mymoneykarma for you to guide about different programs and their benefits.

Frequent Flyer Programs In India | mymoneykarma

There is no doubt that Bollywood movies are packed with action, drama and entertainment. However, these movies also play inspirational roles in our life sometimes. For instance, the film 'Yeh Jawani Hai Deewani' has been made <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/millennial-spending.html" target="_blank">keeping millennials in mind</a>, as it is wholly relatable to the phase of mental dilemma, ambitious spirit and passion for accomplishing that all of us have been through.

Likewise, the metaphorical dialogues of the movie intrigues and motivates the audience through various life lessons, such as,

<blockquote>
"Main udna chahta hu, daudna chahta hu, girna bhi chahta hu. Bas, rukna nahi chahta,"
</blockquote>

implying that a person should never stop trying due to the fear of failing.

Apart from the motivational lessons, some <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/5-decisions-to-protect-your-finances.html" target="_blank">financial tips</a> can be construed from the Bollywood dialogues as well. Following are a few famous Bollywood dialogues and the financial advice hidden between the lines: 
&nbsp;

<h3 class="credit_i_h3">Dialogue #1</h3>

<blockquote>
"Paisa, paise ko kheechta hai." 
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;- Emraan Hashmi - Jannat
</blockquote>

Financial Tip: It implies that 'only money can attract money.' You can earn more only by investing money in the stock market, real estate and <a href="https://www.mymoneykarma.com/investing/index.html/grow-your-money-by-investing-in-mutual-funds.html" target="_blank">mutual funds</a>. Stashing it in a savings account will <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/disadvantages-multiple-bank-accounts.html" target="_blank">make it stagnant</a>. 
&nbsp;

<h3 class="credit_i_h3">Dialogue #2</h3>

<blockquote>
"Kahin pe pahuchne ke liye, kahi se nikalna bahut zaruri hota hai" 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; - Ranbir Kapoor - Yeh Jawaani Hai Deewani.
</blockquote>

"To achieve something new, you ought to leave something old, and you should leave at the very moment before you start experiencing grief and sorrows."

Financial Tip: It means that to thrive in life, a person needs to come out of their comfort zone. If you feel uncomfortable to invest your money in various <a href="https://www.mymoneykarma.com/investing/stock-market-vs-mutual-funds.html" target="_blank">stocks and mutual funds</a> due to the lack of experience, then you need to acquire knowledge about the ongoing trends and try it out by investing in small amounts. 
&nbsp;

<h3 class="credit_i_h3">Dialogue# 3</h3>

<blockquote>
"Risk to Spiderman ko bhi lena padta hai, main to phir bhi salesman hoon" 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;- Ranbir Kapoor - Rocket Singh.
</blockquote>

"Even Spiderman has to take risks, so why can't I? I am just a salesman."

Financial Tip: There is a common saying, "Power comes to those who take risks in life." It is true that no one can accomplish their goals without taking risks. For instance, to <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/ditch-the-fear-and-start-your-own-business.html" target="_blank">start your business</a>, you need to take the risk of leaving a high-paid job and invest in what you have conceptualized.

<h3 class="credit_i_h3">Dialogue#4 </h3>

<blockquote>
"Apno ko kabhi kuch ho jaye, to sasura sahas ki bahut jarurat padti hai." 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;- Saurabh Shukla - Raid.
</blockquote>

"If something happens to our close ones, a lot of courage is required to face it."

Financial Tip: <a href="https://www.mymoneykarma.com/insurance/index.html/benefits-of-family-health-insurance.html" target="_blank">Keep your near and dear ones protected</a> by varied insurance covers such as health insurance, <a href="https://www.mymoneykarma.com/investing/index.html/life-insurance-vs-mutual-funds.html" target="_blank">life insurance</a>, and accidental insurance, so that you can gather the strength to deal with the worse if any unfortunate circumstances arise.

<h3 class="credit_i_h3">Dialogue#5</h3>

<blockquote>
"Kamata hoon Dirham mein lekin kharachta hoon rupai mein." 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; - Varun Dhawan - Dishoom.
</blockquote>

"I earn money in Dirhams, but I spend in Rupees."

Financial Tip: Always spend less than what you earn; it will help you with <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/optimize-your-savings.html" target="_blank">savings</a>. For NRIs who earn in dollars, this can be a remarkable strategy for generating more money by channelizing the investments in Rupees. 
<img alt="" src="https://mmk-s3-cms.s3.amazonaws.com/1570439253103.png" class="img-responsive credit_i_img">

<h3 class="credit_i_h3">Dialogue #6 </h3>

<blockquote>
"Sahi time par sahi jagah hona, sahi time par sahi baat karna, aur sahi time par sahi kaam uthana, isi ko luck kehte hai." 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;- Danny Denzongpa - Luck.
</blockquote>

Financial Tip: Luck is all about taking the right step at the right time and the right place. So, do your <a href="https://www.mymoneykarma.com/investing/index.html/fixed-income-investments.html" target="_blank">research before investing</a> and make the decisions smartly. Luck will surely follow you.

<h3 class="credit_i_h3">Dialogue#7</h3>

<blockquote>
Jua mein hamesha jeetkar hi nahi, kabhi kabhi haarkar bhi zyada paisa kamaya ja sakta hai." 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; - Kajol - Kuch khatti Kuch Meethi.
</blockquote>

"In gambling, you earn by winning, but sometimes a defeat can let you earn more."

Financial Tip: Here, the crux of the dialogue is not to encourage gambling but to explain that even if you lose money during times when the sharemarket exhibits a downward trend, don't panic! You still have the chance to earn, just wait for the right moment. Also, a defeat always gives the opportunity to learn from <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/top-financial-mistakes.html" target="_blank">the mistakes</a> and coming back in the game.

<h3 class="credit_i_h3">Dialogue#8</h3>

<blockquote>
"Maal chahiye chokha, toh note karo ji mota." 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; - Manoj Bajpai - Satyagraha.
</blockquote>

Financial Tip: To buy an expensive product, one needs to spend more. Similarly, to earn more, one needs to invest more.

<h3 class="credit_i_h3">Dialogue#9 </h3>

<blockquote>
"Mere pass paisa hai par style nahi hai, aur tere pass style hai par paisa nahi hai" 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;- Danny Denzongpa - Luck.
</blockquote>

"I have money, but I don't have style; you have style, but you don't have money."

Financial Tip: A debonair without money has the capability to earn it. If you attain the right kind of attitude and confidence while handling your business, you will always <a href="https://www.mymoneykarma.com/trending-in-finance/index.html/exciting-avenues-for-startup-funding-in-India.html" target="_blank">be able to get funds</a> to invest in it.

<h3 class="credit_i_h3">Dialogue#10</h3>

<blockquote>
"Nazdeeki fayda dekhne se pahle dur ka nuksan sochna chahiye." 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;- Amitabh Bacchan - Sarkar.&nbsp;
</blockquote>

Financial Tip: Before focusing on <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/save-for-short-long-term-goals.html" target="_blank">short-term profits</a>, focus on the loss that you may incur by breaking the long-term investments.

<h2 class="credit_i_h2">To Sum Up</h2>

These were some of the iconic Bollywood movie dialogues which have left a deep impression in the mind of the audience.

The dialogues and concepts of these movies have influenced people of all generations, from millennials to the older ones. If you haven't seen any of these movies, we would suggest you watch them and share <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/financial-lessons-from-wolf-of-wall-street.html" target="_blank">more financial tips</a> with us.

&nbsp;

Here are the 10 financial tips for you from Bollywood dialogues shared by the movie buffs of mymoneykarma. Visit our website to read more.

10 Financial Tips From Bollywood Dialogues | mymoneykarma

Cell phones have become an integral part of our lives these days. Can you even think of staying away from your phone for a day or two? Of course not. They have become a means of our day-to-day communication. As we cannot reduce the utilization of cell phones, why don't we try to know how to lower our cell phone bill? In India, we see a dominating number of middle class and lower class people who are concerned about their expenditure. In this article, let us see the different ways on how to lower cell phone bills.

Various teleservice providers offer numerous types of cell phone plans. These plans depend on the service provider, varying from prepaid or postpaid schemes, monthly plans, unlimited call plans, etc. You just need to choose the best cell phone plan that can immensely benefit your pocket. Let us help you with it.

<h3 class="credit_i_h3">Select the Cheapest Service Provider</h3>

After purchasing a cell phone, the next thing you think about is the service provider. We have a lot of service providers, such as Airtel, Vodafone, Idea, Jio, etc., with an active user base in India You can compare all the plans offered by these providers and finally choose the best service provider that sells the best cell phone plans.

Nowadays in India, Jio has become more popular because of its cheapest cell phone plans. It provides an unlimited cell phone plan, which provides facilities like unlimited local calls, free SMS, free internet up to 1-2 GB (4G) based on the plan you choose as per your requirements.

After Jio has come into existence, several other service providers started offering similar plans. So, now you can choose the best service provider active in your area and select a favorable monthly/quarterly plan. This is one of the ways to lower your cellphone bill.

<h3 class="credit_i_h3">Choose the Best Service</h3>

There are two different options to select from, after selecting the best service provider, postpaid and prepaid.

Postpaid: Postpaid plans are more like an agreement; you choose a plan and stick to that. If you end up using all your credit, your service provider will let you use the service for an extra fee and receive the bill at the end of the month based on your usage. The additional charge is considerably high.

Prepaid: As the name suggests, 'Pre' means 'before.' You must recharge your account before you use it. There is a wide range of top-up plans in prepaid. If you use all your credit, the service will only be resumed if you recharge again.

Both the postpaid and prepaid services have their own pros and cons. If the budget is the primary concern, it is better to opt for a prepaid plan.&nbsp;&nbsp;

<h3 class="credit_i_h3">Choose Family/Friend Packs</h3>

Cell phone service providers encourage you to use their service for your entire family. If you make frequent calls to a specific group of people, then friends/family packs make a lot of sense. You can avail unlimited cell phone plans to the selected people, but it is quite expensive if you call people other than the ones in the group. Here’s a simple story of three friends, who used to spend a lot on paying cell phone bills.

Rita, Nita and Gita are best friends. They love talking to each other. They share every silly incident that happens in their lives on a daily basis. They always have never-ending conversations, and hence, end up paying huge bills at the end of the month. Rita, hailing from a middle-class family, always has a financial crisis and feels that she has been spending a lot of money on cell phone bills. She inquired about the friends' plan with a lot of service providers and finally found the cheapest cell phone plan. She disclosed the plan to her friends, and hence all the three friends could save thousands of rupees on cell phone bills. Now, they can have long conversations without bothering much about spending a huge amount of money on paying bills.

It is evident that the cell phone bills can be minimized, looking at the above example, if we investigate the best plans. This is how you lower your cell phone bills.

<h3 class="credit_i_h3">Choose the Best Unlimited Plan</h3>

Nowadays, all the telecom providers are offering unlimited cell phone plans to their customers. These plans are inclusive of calls, data, SMS, etc. These plans can be opted on a monthly or quarterly basis. If you choose one of the unlimited cell phone plans, it would be easier for you to lower the cell phone bill.

<h3 class="credit_i_h3">Monitor Your Data Usage</h3>

Monitor the data you are using on a daily or monthly basis. Switch on to Wifi wherever you have access, as the service providers charge more for the data plans. This reduces the data usage, which, in turn, lowers your cell phone bill. However, using public Wifi may have certain risks.

<h3 class="credit_i_h3">Know Your Data Limit</h3>

If you are using mobile data, you must know the data limit. Data limit for some service providers is calculated on a daily basis, while for the others, it is calculated on a monthly basis. So, if you don't monitor your usage, you may end up spending more on your data packs.

<h3 class="credit_i_h3">Decrease the Cellular Usage</h3>

These days, we have a lot of applications like WhatsApp, Viber, Telegram, Facebook Messenger, etc. which are excellent for real-time communication. Using such applications reduces your cellular usage, which in turn lowers the cell phone bills.

<h3 class="credit_i_h3">Do Not Opt for a Value-Added Service</h3>

Sometimes, you may not be aware of the charges that get deducted from your prepaid account. These charges may be because of opting for a value-added service like dialer tune or news updates. Service providers are known for auto-activating such value-added services without the users’ consent. Keep a close eye on your cell phone account. If you're concerned about your cell phone budget, it is better not to go for a value-added service unless it is absolutely free of cost.

<h3 class="credit_i_h3">To Sum Up</h3>

These are a few ways in which you can lower your cell phone bill. In short, choose the best cell phone plans and the cheapest service provider, and you will surely be benefitted. Talk more, Spend less, and Stay Happy!

&nbsp;

Wondering how to reduce your cell phone bill? mymoneykarma is here to help you with different tips and tricks of lowering your cell phone bill.

Best Ways to Reduce Your Cell Phone Bill

Hey there!
Are skyrocketing fuel prices burning a hole in your pocket?
Are you keeping aside a big stash of your monthly income for fuel expenses?
If your answer is yes, then we assume that you are here to find a solution. Let's begin the discussion then.
The solution lies in the credit cards that provide a waiver on fuel surcharge or let you <a href="https://www.mymoneykarma.com/credit-cards/credit-card-reward-points.html" target="_blank">use your rewards</a> to pay for fuel expenses. Here, mymoneykarma has prepared a comprehensive list of the best credit cards that can help you in saving money:
<h3 class="credit_i_h3">ICICI HPCL Coral Credit Card (Visa)</h3>
Joining fee: Rs.199 + GST
Reward points: Two payback points on every Rs.100 spent (on retail purchases except fuel)
Reward points value: 2000 payback points = Rs. 500 spent on fuel
Exclusive benefits&nbsp;
<ul class="banklogin_ul">
<li>
Get 2.5% cashback (on minimum fuel transaction of Rs. 500)&nbsp;
</li>
<li>
Savings of 1% fuel surcharge on making purchases at HPCL pumps.
</li>
<li>
Enjoy Rs.100 discount on up to two movie tickets per month at www.bookmyshow.com
</li>
<li>
Minimum 15% <a href="https://www.mymoneykarma.com/credit-cards/best-credit-cards-for-dining.html" target="_blank">savings on dining</a> at over 800 restaurants.
</li>
</ul>
<h3 class="credit_i_h3">ICICI Bank HPCL Coral Credit Card (Master)</h3>
Joining fee: Rs.199 + GST
Renewal fee: Rs.199 + GST
Reward points: Six payback points on every Rs.100 spent (all retail purchases except fuel)
Reward points value: 2000 payback points = Rs. 500 spent on fuel
Exclusive benefits of this card
<ul class="banklogin_ul">
<li>
Get 2.5% cashback (on minimum fuel transaction of ?500)
</li>
<li>
Savings of 1% fuel surcharge on making purchases at HPCL pumps.
</li>
<li>
Get Rs. 100 off on Zomato for orders of Rs. 250/- and above - Use this code while paying through your ICICI credit card: ZOMATO101
</li>
<li>
This offer is valid up to 5 times per user
</li>
</ul>
<h3 class="credit_i_h3">Kotak Mahindra Delight Platinum Card</h3>
Joining fee: Rs. 2000 + GST
Renewal fee: Rs. 299 + GST
Reward points: You get rewards in the form of cashback
Exclusive benefits
<ul class="banklogin_ul">
<li>
Get 10% cashback on dining and movies after spending an amount of Rs.10,000 monthly on other categories.
</li>
<li>
Enjoy a 1% fuel surcharge waiver across all petrol pumps in India.&nbsp;
</li>
<li>
If your credit card is stolen, you get an insurance cover of Rs.1,25,000 against <a href="https://www.mymoneykarma.com/credit-cards/protect-from-credit-card-fraud.html" target="_blank">fraudulent usage</a> for up to seven days of pre-reporting.&nbsp;
</li>
<li>
VisapayWave facility for one transaction of up to Rs. 2000 without entering a PIN.
</li>
</ul>
<h3 class="credit_i_h3">Kotak Mahindra Solaris Platinum Credit Card</h3>
Joining fee: Rs. 500 + GST
Renewal fee: Rs.500 + GST
Reward points (RP): Earn up to 5X RP on every Rs.150 spent (online purchases)&nbsp;
Earn 2X RP for every Rs.150 on other retail spends.
Exclusive benefits
<ul class="banklogin_ul">
<li>
Fuel surcharge waived for transactions between Rs. 400 and Rs. 3500&nbsp;
</li>
<li>
Enjoy the railway surcharge waiver for bookings on IRCTC.
</li>
</ul>
<h3 class="credit_i_h3">Bajaj Finserv RBL Bank Value Plus Supercard</h3>
Joining fee: Rs. 499 + GST
Renewal fee: Rs. 499 + GST
Welcome bonus: Gift vouchers redeemable on Flipkart, Shoppers Stop, MakeMyTrip, etc.
Exclusive benefits of this card
<ul class="banklogin_ul">
<li>
10% cashback on Ola/Uber/Fuel Purchases (up to Rs. 250 per month)&nbsp;
</li>
<li>
Get a fuel surcharge waiver up to Rs.100 per month.&nbsp;
</li>
<li>
The approximate value of benefits per annum: Rs. 6200+
</li>
</ul>
<h2 class="credit_i_h2">To Sum Up</h2>
These cards aren't exclusively for fuel purchases; instead, they have other benefits too, as mentioned above. Hence, you can save money on your fuel expenses through these cards along with making other retail purchases.
If this makes sense to you, then apply for a new credit card right away - but don't forget to <a href="https://www.mymoneykarma.com/credit-score/credit-score.html?utmsrc=credit-cards_2089" target="_blank">check your credit score</a> before you do so. <a href="https://www.mymoneykarma.com/credit-score.html" target="_blank">Happy Credit</a>!
&nbsp;

Are you worried about the soaring fuel expenses? Relax! This blog on the mymoneykarma portal can help you in saving money.

Best Credit Card For Fuel Purchases In India

As a famous quote says, "We have planned for life, but sometimes life may have a different plan for us".&nbsp;There could be circumstances where one can plan ahead and save lots of money in travel by booking cheap flights or can choose other modes of transport as per the convenience; but what if one has to book a flight at the last minute to travel for an emergency?

The flight can definitely be booked on an immediate basis, but is there any chance of <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/tips-to-book-cheapest-flight-tickets.html" target="_blank">booking it at a cheap rate</a>? Most of you will say "no", especially in India, because the price surge of airline companies remain high at such a short notice. But you will be happy to know that there are ways of saving money during emergency situations as well.

<ol class="homeloan_Faqs_ul_1">
	<li>
	Contact the Airline:

	In emergency situations, calling the airline may help you and it can be done in a few steps:

	<ol class="homeloan_Faqs_ul_1">
		<li>
		Tell the airline about your circumstances.
		</li>
		<li>
		Ask them how they can help in getting your tickets at the best rate, especially in the situations where you have to leave immediately as someone from your family is in the hospital or has unfortunately died.
		</li>
		<li>
		Give all the required details to the airlines.<img alt="7 Ways of Saving Money on Last Minute Flight Bookings " src="../../../images/new/travel/7-ways-of-saving-money-on-last-minute-flight-bookings.jpg" class="img-responsive credit_i_img">
		</li>
	</ol>

	There are many cases where airlines have really helped people in such situations with discounted flight rates. One of the instances is from my family, where my father had to travel on an immediate basis after he got the news of my grandfather's heart attack. He called Air India's customer care and the airline helped him in getting the flight booked at the best available rates due to which he could leave on time for our hometown.

	Here are the customer care details of some of the major airlines:

	<table class="table table-bordered credit_i_table">
		<tbody>
			<tr>
				<td>
				Name of The Airlines
				</td>
				<td>
				Contact Number
				</td>
			</tr>
			<tr>
				<td>
				Vistara
				</td>
				<td>
				0928928888
				</td>
			</tr>
			<tr>
				<td>
				Indigo
				</td>
				<td>
				0124-6173838
				</td>
			</tr>
			<tr>
				<td>
				Go Air
				</td>
				<td>
				09223222111
				</td>
			</tr>
		</tbody>
	</table>

	&nbsp;
	</li>
	<li>
	Be Updated by Using Google Flights:
	<img alt="Be Updated by Using Google Flights " src="../../../images/new/travel/googleflights.PNG" class="img-responsive credit_i_img">
	Check <a href="https://www.google.co.in/flights/" target="_blank">google flights</a> for getting an idea of all the upcoming flights and their rates or else set a reminder on google alerts for notifying you about the cheap flights or ongoing discounts. This will help you in taking the right decision during the time of need. Google flights helps you in comparing prices of different airlines along with which it will also show the popular destinations from your place and the price per passenger. Through google flight map, you can check flight details of any country or city by clicking on the blue dots shown on the map or you can customize the options present at the right corner of the page, to get an overview of the desired details regarding the number of stops, time zone and the airlines you prefer.
	</li>
	<li>
	Try to Book Ticket During An Undesirable Hour:

	While booking a flight, you must have noticed several times that late night flights and early morning flights remain cheaper because not many people like to fly during that time. So if you can manage to travel at such timings, book your tickets accordingly.
	</li>
	<li>
	Follow Airline/ Travel Booking Companies on Social Media:

	To remain updated about latest discounts on the flights or about other schemes in airlines which get published for short duration, it’s best to connect with your favorite airline or travel booking company like MakeMyTrip or Easemytrip on social media like Facebook and Twitter. This is especially important if you are a <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/frequent-flyer-programs-india.html" target="_blank">frequent flyer</a>.&nbsp;Every time some new discount gets introduced, you get to know about it while scrolling down your news feed. It’s true that social media is the best platform for socializing but it also helps people in getting updates about any field.
	</li>
	<li>
	Here is the chart showing social media handles of some major airlines for your reference:

	<table class="table table-bordered credit_i_table">
		<tbody>
			<tr>
				<td>
				Name of Airline
				</td>
				<td>
				Facebook page
				</td>
				<td>
				Twitter
				</td>
			</tr>
			<tr>
				<td>
				Vistara
				</td>
				<td>
				@AirVistara
				</td>
				<td>
				@airvistara
				</td>
			</tr>
			<tr>
				<td>
				Indigo
				</td>
				<td>
				@GoIndigo.in
				</td>
				<td>
				@IndiGo6E
				</td>
			</tr>
			<tr>
				<td>
				Go Air
				</td>
				<td>
				@GoAir
				</td>
				<td>
				@goairlinesindia
				</td>
			</tr>
			<tr>
				<td>
				Air India
				</td>
				<td>
				@AirIndia
				</td>
				<td>
				@airindiain
				</td>
			</tr>
		</tbody>
	</table>
	</li>
	<li>
	Track your Travel or Credit Card Rewards:

	Owning a <a href="https://www.mymoneykarma.com/credit-cards/index.html/how-to-fly-for-free-with-travel-credit-cards.html" target="_blank">travel card</a> or a credit card during traveling is a convenient option as it helps in availing cash back rewards and earning reward points which may help you during the time of emergency. But for reaping the benefits of the credit card, you should know <a href="/credit-score/i/how-to-find-the-perfect-credit-card.html" target="_blank">which one you should choose</a>. There are certain credit cards which offer amazing discounts and services, though one needs to research a lot to find the right one. But believe me, if you know how to make the right use of it, you will end up saving a lot especially when you are stuck in a situation where you need to book the flight at any expense, as most of the credit cards are have a tie-up with airlines these days. Credit cards also offer airline fee credit which helps in waiving certain charges like extra baggage, in-flight meals etc. Nowadays, most of the credit cards are offering a sign-up bonus or welcome gift in terms of some <a href="https://www.mymoneykarma.com/credit-cards/index.html/credit-card-reward-points.html" target="_blank">reward points</a> which can be redeemed during the time of these last minute bookings.
	</li>
	<li>
	Research The Ticket Price on Many Sites Before Finalizing:

	Airlines keep the best deal to themselves rather than giving them to third-party sites. Yet there are sites which can help you in finding <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/tips-to-find-cheap-flights.html" target="_blank">the cheapest flight</a> by saving your effort of price comparison. One of them is Momondo which is the quickest way of finding the last minute flight deals as they compare the price of direct airlines along with the prices from third-party sites. The interface of Momondo is very easy to navigate and it shows the most relevant options by filtering the search results. Momondo also has a large display for showing information about price comparison, cheapest or quickest flights and flight times, helping you in deciding quickly which flight you want to go for.

	Another benefit of using Momondo is that it gives an insight into your regular traveling destinations, by telling you about ways of getting the cheapest flight between the required destinations. It also shows two bar charts after the search bar showing the expensive and the cheapest days. The left-hand chart shows the estimated price of the departure date and the right-hand chart shows the price of the different return days and date. Momondo also provides unbiased research on hotel prices, helping you in getting the best deals.
	<img alt="momondo" src="../../../images/new/travel/momondo.PNG" class="img-responsive credit_i_img"></li>
	<li>
	Research About Cheapest Flights at Nearby Airports:

	If you find that your destination is expensive, then the alternate option is to research the nearby airports where flights are available at lowest prices and from where you can travel by car to your destination. So in order to decide, all you need to do is compare the costs of different modes so that you may opt for the best one.
	</li>
</ol>

<h2 class="credit_i_h2">To Sum Up</h2>

Though it's true that urgency never comes with a warning but if you keep yourself prepared, it will be easy for you to deal with the emergency. Set the reminder on google alerts or make a habit of checking the website of your preferred airlines, just like you check social media on regular basis.

It will keep you updated and you will know which way you should take during the situations when you don't get time to think much.

Last minute flight deals are always a sweet fortune when you save a considerable amount Looking for ways to save more in such situations? Here is mymoneykarma to guide you.

Last Minute Flight Deals - mymoneykarma

I am sure it usually happens with all of us that we get to know about the ongoing discount on flight fares through a friend but when we go for booking, the discount remains no longer applicable. We face such conditions when we remain ignorant of the latest updates, otherwise who doesn't like to save?

<a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/tips-to-book-cheapest-flight-tickets.html" target="_blank">Saving on flight fare</a> is nowhere less than receiving an award as both give the joy of achievement. Or it could be the satisfaction of paying less to the airlines who upcharge their customers and still make headlines for problems in customer service. Of course, none of this should bother you if you are already a seasoned <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/frequent-flyer-programs-india.html" target="_blank">frequent flyer</a>.

Finding cheap flights is never easy especially with enormous number of search options, several comparison websites and fluctuating prices. So, here are some of the tips to help you in finding a cheap flight:

<ol class="homeloan_Faqs_ul_1">
	<li>
	Do a Round Trip Vs One-way Flight Comparison on Travel Booking or Airline Sites:

	Whenever you search for a flight, compare the prices both ways, i.e., for round trip as well as one way. If you check sites like EaseMyTrip.com, you will see the difference. When I had to go Delhi from Bangalore, I was searching for flights on one-way mode to check if any discounts are being offered by airlines which they don't offer during round trip. 
	Although I didn't find any discounted flights on one-way trip mode, I realized that I was able to save around Rs 649 by booking a round-trip, which was costing around Rs 5760 rather than Rs 6439 (cost of two one-way flights if booked separately). Another benefit of booking on EaseMyTrip is that they don't charge any convenience fee which also saves some amount of money.
	</li>
	<li>
	Keep Your Dates and Days of Travel Flexible:

	If you travel on festival dates or any public holiday date, definitely the fares will be high. In that circumstance, you either need to book the flight six months before or else be open to changing your travel dates. Fares also vary as per the days, for example: while searching for flights on any of the sites, either travel booking or airlines like Vistara or Indigo, you can check that fares differ as per day - on Monday it may be more and on Wednesday it may be less.

	For checking fares on different days, search for any flight on <a href="https://www.easemytrip.com/" target="_blank">EaseMyTrip</a>. The website calendar will show you the prices of all days in a particular month, giving a clear idea about the cheap and expensive days.
	</li>
	<li>
	Try to Be Flexible with Your Traveling Time:

	People who can manage to travel on undesirable hours like early morning or late night are able to save more as flight fares remain cheaper. Opt for this option only when you are comfortable with traveling at odd timings. 
	Let me give you an example of this. My flight was booked at 4 a.m. in the morning for returning from Hyderabad to Bangalore. In spite of leaving for the airport around 2 a.m. in the night, I preferred to reach the airport at around 9 p.m. and stay there. I was traveling alone and my friend was not comfortable with midnight driving. 
	When I reached home, I just became restless and my whole day was wasted in sleeping. It's true that I saved some money but that was at the cost of my health. So my advice is that you should plan your travel at odd timings only if you will be able to manage your health. 
	<img alt="8 Tips To Find Cheap Flights" src="../../../images/new/travel/8-tips-to-find-cheap-flights.jpeg" class="img-responsive credit_i_img">
	</li>
	<li>
	Be Active on Social Media:

	Follow the Twitter handle of your favorite airlines as most of the airfare deals are shared over there. Twitter does not only inform about news updates but it also notifies about the discounts on fares. The benefit of being on Twitter is that you don't need to visit websites of different airlines, rather you can stay updated in one place. By clicking on the link of the tweets, one can visit the airlines' website directly to know more about the offers - you could even land some <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/save-money-on-flight-bookings.html" target="_blank">last-minute flight deals</a> as airlines try to fill seats.

	Here is the list of some popular airlines' twitter handles:

	<table class="table table-bordered credit_i_table">
		<tbody>
			<tr>
				<td>
				Name of Airline
				</td>
				<td>
				Twitter
				</td>
			</tr>
			<tr>
				<td>
				<a href="https://www.airvistara.com/trip/?campaign=Brand&amp;source=Google&amp;medium=Search&amp;gclid=EAIaIQobChMItdiRqPuC3AIVRYuPCh1NBQ-MEAAYASAAEgKYzPD_BwE" target="_blank">Vistara</a>
				</td>
				<td>
				@airvistara
				</td>
			</tr>
			<tr>
				<td>
				<a href="https://www.goindigo.in/" target="_blank">Indigo</a>
				</td>
				<td>
				@IndiGo6E
				</td>
			</tr>
			<tr>
				<td>
				Go Air
				</td>
				<td>
				@goairlinesindia
				</td>
			</tr>
			<tr>
				<td>
				Air India
				</td>
				<td>
				@airindiain
				</td>
			</tr>
		</tbody>
	</table>
	</li>
	<li>
	Set Alerts to Track Fares on Your Preferred Sites:

	Checking the websites of travel booking companies or of your favorite airlines is a tedious task for which none of us have time. In order to stay updated about the best available discounts without wasting time, it's better to set alerts or keep the notifications on for your favorite sites so that you may keep track of the discounts. 
	You can also set a reminder on Google alerts to know about cheap airfares. Using <a href="https://www.google.com/flights" target="_blank">Google Flights</a> is another option for knowing about the upcoming discounts on flights.
	</li>
	<li>
	Check Cheapest Flights at Nearby Airports:

	If you find that your destination is expensive, then the alternate option is to research the nearby airports where flights are available at lowest prices and from there you can travel by car to your destination. So in order to decide, all you need to do is compare the costs of different modes so that you may opt for the best one.
	</li>
	<li>
	Search in Incognito Mode:

	If you are searching for flights on a normal internet page and notice that the cheapest airfare suddenly disappeared, rather an expensive fare is shown as the best deal, then there are chances that you are getting tracked by cookies. In order to avoid them, it's better to search in incognito mode. In the incognito mode, cookies are reset each time you re-open the window.

	Don't know how to use incognito mode? Here are the steps:

	<ol class="homeloan_Faqs_ul_1">
		<li>
		If you are using google chrome, use Ctrl+Shift+N and in Safari hit Command, Shift and 'N' key.
		</li>
		<li>
		A new browser window will be opened where the information is not getting tracked and if the site is showing cheapest fare, it will not disappear.
		</li>
		<li>
		In case you are not good with keys, just open the browser.
		</li>
		<li>
		Click on new incognito window under the 'File' tab present at the top of the desktop screen.
		</li>
	</ol>
	</li>
	<li>
	Compare the Prices Through Sites like Momondo:

	The interface of Momondo is very easy to navigate and it shows the most relevant options by filtering the search results. It is one of the best platforms for price comparison as they compare the prices from the sites of airlines as well as from third-party sites.
	</li>
</ol>

<h2 class="credit_i_h2">To Sum Up</h2>

Follow the tips, stay updated and you definitely will be able to <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/travel-for-cheap.html" target="_blank">travel for cheap</a>. In case you need to know more tips on travel and related topics, you can go through <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/" target="_blank">our repository</a> of the same.

&nbsp;

How to find cheap flights? it's not easy nowadays. Do you know how to find cheap airline flights? Here is mymoneykarma giving all the tips to guide you.

How To Find Cheap Flights - Find Cheap Airline Flights

Travel credit cards are helpful for <a href="https://www.mymoneykarma.com/travel-lifestyle/frequent-flyer-programs-india.html" target="_blank">people who travel frequently</a>. It helps users save a considerable amount of money, sometimes offering free flight tickets too if chosen correctly. Travel credit cards are of two kinds - Travel rewards credit cards and Cashback credit cards.&nbsp;
Travel <a href="https://www.mymoneykarma.com/credit-cards/top-cash-back-credit-cards.html" target="_blank">rewards credit cards</a> are further categorized into general purpose credit card and brand-specific credit card.&nbsp;
General-purpose travel credit card: It pays higher rewards on making travel purchases through any hotel or airline. If you want to try the services of different brands, then this card is for you.
Brand-specific credit card: It provides higher rewards on purchasing from a particular brand of hotel or airline or travel tech company. For example, Yatra collaborates with SBI for the Yatra SBI Credit Card.
As for <a href="https://www.mymoneykarma.com/credit-cards/best-cashback-credit-cards-2019-india.html" target="_blank">Cashback credit cards</a>, you need to consider two points before making a purchase:
<ul class="banklogin_ul">
<li>
Amount of cashback: Choose a card that offers you more cashback in the areas where you spend the most.
</li>
<li>
Cashback limit: Check the maximum limit of cashback that you can earn on the card.
</li>
</ul>
<h3 class="credit_i_h3">Benefits That Come Along with Travel Credit Cards</h3>
Earn welcome points on sign-up: Most credit card companies offer a substantial amount of bonus points during sign-up, which you can earn after spending up to a specific threshold within 90 days of purchasing the card.
Discount vouchers:&nbsp; Many credit card companies offer discount vouchers to their customers during the purchase of travel credit card, which can be utilized while booking hotels or flights from the brands that are in collaboration with the credit card companies or banks. For example - Yatra SBI Card - It offers discount vouchers worth Rs. 8250 as a joining perk.
Complimentary insurance:&nbsp; You can also earn <a href="https://www.mymoneykarma.com/insurance/reasons-to-buy-travel-insurance.html" target="_blank">complimentary insurance</a> with your credit card to cover baggage loss, theft, accidents, and <a href="https://www.mymoneykarma.com/insurance/benefits-of-family-health-insurance.html" target="_blank">medical emergencies</a>. Please note that all credit companies do not offer this benefit, so choose the credit card that meets your expectations and check if there are any hidden charges to avail the benefits.
<a href="https://www.mymoneykarma.com/credit-cards/priority-pass.html" target="_blank">Free lounge access</a> at domestic and international airports: Some travel credit cards offer these benefits either as a joining perk or when you accrue a certain number of reward points.
Retail vouchers: When you buy a credit card, there are higher chances of receiving <a href="https://www.mymoneykarma.com/travel-lifestyle/use-of-online-coupons.html" target="_blank">retail coupons</a> in your kit, which you can utilize while shopping.
You could fly for free: Let's discuss this with an example - several travel tech companies tie up with lender to offer co-branded credit card that often offer exciting perks like a free flight ticket or a free hotel booking.
<h3 class="credit_i_h3">How to Optimize the Benefits of Travel Credit Cards?</h3>
Pay the full <a href="https://www.mymoneykarma.com/credit-cards/pros-cons-of-credit-card-balance.html" target="_blank">outstanding balance</a>: Many customers prefer to pay the <a href="https://www.mymoneykarma.com/money-management/credit-card-minimum-payment.html" target="_blank">minimum due</a> amount thinking that it would save them from excessive interest payment. However, the fact is that it leads to the user paying higher compound interest on the accumulated amount. So, try to clear the full credit due every month, as it will help you in maintaining a good <a href="https://www.mymoneykarma.com/credit-scores/what-is-credit-score.html" target="_blank">credit score</a> and availing good offers.
Pay your bills on time: Set a reminder of the due date in advance on your mobile so that you will have ample amount of time to clear the bills or set up an auto debit payment system in your bank account. If you pay your dues <a href="https://www.mymoneykarma.com/credit-scores/how-late-payments-impact-credit-score.html" target="_blank">before the deadline</a>, it will help you in maintaining a good credit history, and you will not lose any accrued reward points.
Pay attention to the changes in rewards programs:&nbsp; Check the components of your statement thoroughly every month. If you note that there is a reduction in your reward points, then pay attention to the factors that have affected the credit card rewards program, such as your spending habits or the changes in terms of the reward program by the credit issuer.&nbsp;
Redeem your reward points on time: Check out the expiry date of <a href="https://www.mymoneykarma.com/credit-cards/credit-card-reward-points.html" target="_blank">reward points utilization</a> and use them on time to save money.
Redemption fee: Some cards might have a redemption fee, so check it before you proceed to buy a travel credit card.
Check out the spending threshold to earn the sign-up bonus: The spending threshold is the amount that you need to spend within 90 days of credit card purchase to earn the sign-up bonus. So, if the spending threshold is not affordable for you, you won't be able to reap the benefits of rewards on the credit card.
Annual fee: In India, some cards might charge an annual fee and some may not; and some companies may <a href="https://www.mymoneykarma.com/credit-cards/best-zero-annual-fee-credit-cards-in-india.html" target="_blank">waive the annual fee</a> after a specific period. So, consider this a vital point while buying a travel credit card.
<h2 class="credit_i_h2">In a Nutshell</h2>
Travel credit cards can be very crucial when it comes to saving money if you use them in the right way. How do you know if you're doing it right? - By checking <a href="https://www.mymoneykarma.com/credit-score/credit-score.html?utmsrc=credit-cards_2031" target="_blank">your credit score</a> regularly.
Compare the different credit cards online and choose the one which provides you the maximum benefit, making your travel budget-friendly.
Happy Traveling!
&nbsp;

Travel credit cards can be very helpful in saving money; however, you should consider these crucial points that we have listed for you on the mymoneykarma website before purchasing a card. 



Travel Credit Cards

Traveling and exploring different countries is indeed enticing. However, how do you plan to carry foreign currency? How much of an amount should you take when you're visiting an unknown land? What if you are visiting multiple countries? Such questions are bound to crop up. Using cash might seem the obvious way, but is it the best and safest option?&nbsp;

Apart from hard cash, there are a few other ways to carry liquid cash and safeguard money.&nbsp; Forex travel cards, traveler's cheques, and plastic money in the form of debit cards, credit cards, and prepaid travel cards are some notable examples. Of these, a forex travel card is undoubtedly the best way to keep your money safe during your stints as an overseas adventurer.

<h3 class="credit_i_h3">What Is a Forex Prepaid Travel Card?</h3>

A prepaid forex card enables you to load multiple currencies on a single card ( Around the world in 80 days? No big deal). However, if you are visiting just one country, you can also choose to load a single currency. The forex cards will not only save you time, but can also spare you the pain of calculating conversion charges when you should be enjoying your vacation.

You can load up to INR 2.5 lakh per annum per card according to the guidelines of the Liberalised Remittance Scheme (LRS) notified by RBI. However, each individual can carry only one forex card while traveling.

Why Forex Travel Cards?

Well, you can always use your credit card during your overseas travel, but you would have to pay a whopping amount for conversion charges, additional ATM fee, etc. You can rest assured that you are going to burn a hole in your pocket by paying more than a cumulative percentage of 7% over the exchange. Are you willing to do that -&nbsp;especially when you can avoid it?

A prepaid forex travel card is the ideal solution that can help you save some extra bucks. Forex travel cards are one of the safest options, especially as compared to carrying a bagful of cash. They are enabled with PIN protection and can be swiped for all sorts of transactions.

<img src="https://lh4.googleusercontent.com/Pb0R2IwKgv3zyXMp6LnqvNN1f2NFj1EfQ17GPLncuwms78K94h-Kkt75oTNrGhV0F7u1etbD4xwfxqeFROXEYe9LxK3mqQDkk6ia3nkKQNQX_DiGEl7EZ3ycB-ZP3Oz3y22U4kM4" style="height:331px; width:481px" class="img-responsive credit_i_img">

<h3 class="credit_i_h3">How Do Forex Travel Cards Work?</h3>

Forex travel cards serve as a boon for travelers as they need not carry cash at all. But how does it work?

To understand how a forex travel card works, let's go through an example.Let’s say you are traveling to the UAE; you would need to have money in Dirhams. A prepaid forex travel card gives you the option to carry any foreign currency around the world. Hence, your prepaid travel card will be loaded with a certain amount of Dirhams, and you can use the card at all international stores and retailers that accept the concerned card network (mostly Visa or Mastercard).

You can also use the card at ATMs to withdraw cash. In fact, you also have the option to withdraw the entire amount of currency loaded on the card in cash from an ATM. However, you should be aware that you will be charged if the transaction currency is different from the currency loaded in the card.

<h3 class="credit_i_h3">What Are the Forex Card Charges That I Need to Be Aware Of?</h3>

It is essential to be aware of the various charges associated with using a forex card. Thus, once the card is loaded with money, you wouldn’t have to worry about the conversion charges anymore. However, the charges vary from one issuer to another.

Here are a few of the charges based on usage:

<ol class="homeloan_Faqs_ul_1">
	<li>
	Cash withdrawal charge - There's a cost levied when you swipe the forex card at ATMs to withdraw cash.
	</li>
	<li>
	Balance inquiry charge - You would be charged for checking your balance at an ATM.
	</li>
	<li>
	Monthly International SMS alert charge - There's a charge levied if you want to receive any SMS alerts when you're abroad.
	</li>
	<li>
	Domestic replacement card fee - This charge is for getting your card replaced while you are in India.
	</li>
	<li>
	International replacement card fee - If by chance,&nbsp;your card is <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/lost-credit-or-atm-card-abroad.html" target="_blank">misplaced or stolen</a>,&nbsp; you would incur a charge for replacement.
	</li>
	<li>
	Statement request charge - Requesting for statements can also incur expenses for you.
	</li>
	<li>
	Charge slip retrieval charge - This charge is levied on you for getting a transaction slip at any ATM.
	</li>
	<li>
	Cross currency markup charge - You would have to bear the cost if the transaction currency is different from the one loaded on the card. It would be labeled as a 'cross currency markup,' and would be around 3-3.5% of the transaction amount.&nbsp;
	</li>
	<li>
	Inactivity Fees - Absence or inactivity is defined when there is no activity on the forex card for a consecutive period of more than six months. A charge is levied on the same.
	</li>
</ol>

<h3 class="credit_i_h3">Before Purchasing a Forex Travel Card...</h3>

Here are a couple of things you should be aware of before buying a forex travel card:

<ol class="homeloan_Faqs_ul_1">
	<li>
	Daily limit: Some forex cards have a daily limit on usage. Check with the issuer to know the exact amount that you can withdraw or spend in a day.
	</li>
	<li>
	24-hour helpline: Have the helpline number of the card provider at your disposal to help yourself out when you run into a tricky situation.
	</li>
</ol>

<h3 class="credit_i_h3">While Using a Forex Travel Card…</h3>

Keep these aspects in mind at all times:

Safety: Safety and security is of utmost importance, because cases of international <a href="https://www.mymoneykarma.com/credit-cards/index.html/protect-from-credit-card-fraud.html" target="_blank">fraud on&nbsp;cards</a>&nbsp;are not very uncommon. One of the ways to safeguard your hard-earned money would be to swipe the card right in front of your eyes. Never let it be out of sight. Such small steps would reduce the risk of cloning of your card.

Be aware of where you swipe: The forex travel cards are loaded with foreign currency, which is why you shouldn't swipe it at a place where the transaction's value is in INR. If that happens, you would end up paying conversion charges.

Choose the right option at ATMs: While in an ATM or merchant outlet, always select the credit card option, as then you wouldn't have to pay any separate charges for forex cards.

After returning from your trip: While returning from your trip, make sure to check your balance on the card, as holding amounts exceeding $2,000 is prohibited as per RBI laws. If you get caught, you would have to pay a hefty price, or could even be put behind bars.

Insurance cover: There are different types of insurance coverage made available for these forex cards; make sure to confirm with the issuer if it comes with specific coverage or not. Coverages for protection against misuse of lost or counterfeited card, personal accident insurance, and loss of checked-in baggage cover are mostly provided on most forex cards. Some forex cards also cover ATM assault and robbery, including the expenses incurred for medical treatment.

<h2 class="credit_i_h2">To Sum Up</h2>

Planning your finances during overseas travel is a critical task, since the Indian rupee is not a widely accepted currency. Research thoroughly before purchasing a forex card; and most importantly, understand the terms and conditions of using such travel cards.&nbsp;

It is essential to understand how you can save a lot with these cards by cutting down on various charges that are otherwise involved in credit card usage. As they are prepaid, rest assured that they don't affect <a href="https://www.mymoneykarma.com/credit-score/credit-score.html?utmsrc=credit-cards_1337" target="_blank">your credit score</a>.

Traveling is fun and helps you unwind. Forex travel cards not only save you money but also keep all the stress of currency exchange at bay, making them an ideal companion for <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/travel-for-cheap.html" target="_blank">travel abroad</a>. So, a little research before planning will help you cut down costs as well as enable you to explore more options.

Are you still wondering about how to have money at your disposal while on a foreign trip? Fret not; we are here to help you. mymoneykarma presents you the 5 things to know before you jump into buying a forex travel card.

Forex Travel Card - Best Forex Travel Card

What do you say when someone asks you what loyalty is and to whom you would be loyal? You would say that you are loyal to your family, friends, and your company, and that loyalty is the act of being faithful or showing your allegiance to a person or an institution.

<h3 class="credit_i_h3">What is Customer Loyalty?</h3>

Customer loyalty is nothing but customers’ willingness to consume a brand again and again as a result of the positive experience, satisfaction, and value associated with its products or services. For instance, if you are a foodie who wants to explore different cuisines, and you found Zomato to be the best, owing to its services and huge network of restaurants, you would go for Zomato and order food from it every time. In this case, you become a loyal customer of Zomato. These brands also put in place customer loyalty programs to make sure that they retain you.

<h3 class="credit_i_h3">Why Do Stores Run Customer Loyalty Programs?</h3>

You live in a world that offers a lot of options for anything you need to purchase. And if you buy products from the same brand again and again, they infer your loyalty from your shopping behavior and try to retain you by offering rewards. "Customer retention is the key to success" is the mantra for these brands, and hence they run customer loyalty programs in retail.

<h3 class="credit_i_h3">How Do Customers Benefit?</h3>

Have you ever been asked by a billing agent if you wanted to redeem your points on a retail store? You get to hear this mostly from apparel stores such as Pantaloons, Trends, Max, etc. These are the points that you have earned by purchasing at the same store repeatedly. These points can be redeemed as money, and hence you get your apparel at a discounted price. This sounds great, right? This is one example of the benefits you get from a loyalty program. Apart from these rewards, you can also avail a wide range of benefits. Let us discuss some of the types of loyalty programs that could benefit you the most.

<h3 class="credit_i_h3">Some Popular Loyalty Programs in India</h3>

Zomato Gold

Food is love. With increasing demand for restaurants these days, many apps have been offering amazing deals. Zomato provides a great example for successful loyalty programs, as it tries to retain its customers using Zomato Gold. It offers 1+1 on food orders and 2+2 on drinks at all partner restaurants across India, with a list of 4750+ top-rated restaurants. It has three packages - starter pack, medium pack, and unlimited pack, which come at very nominal charges.

Payback

Payback is one of the largest multi-brand loyalty programs. It makes every shopping experience a gratifying one, and hence, is one of the best platforms for customers. Customers can earn points across online and offline partners, and can redeem these points for free shopping or a reward.

Payback equips customers with the best online shopping deals and the opportunity to earn payback reward points on each purchase. Here, you can shop, earn, and redeem. Payback reward points can be earned on shopping of any kind, like filling fuel, buying apparel, or shopping for your favorite brands at over 30 shopping sites. Millions of customers enjoy the benefits that come with the payback app. The best deals are offered to its members, along with additional discount schemes. These deals can be in fashion, accessories, mobile phones, electronics, home appliances, recharge offers, or travel offers.

McDonald’s Breakfast Club

McDonald’s offers the best breakfast offers for its customers as a loyalty program. All you need to do is place an order of Rs. 100 during breakfast hours and get your card stamped on every visit to avail exciting offers such as:

<ul class="banklogin_ul">
	<li>
	Free hash brown on your second visit.
	</li>
	<li>
	Free veg muffins/egg &amp; cheese muffins on your third visit.
	</li>
	<li>
	Free hot cakes on your fourth visit.
	</li>
	<li>
	Fresh brew coffee/tea on the fifth visit.
	</li>
	<li>
	Veg supreme/ chicken sausage mc muffin with egg for free on the sixth visit.
	</li>
</ul>

Amazon Prime

Amazon has been successful in identifying its customers’ needs and launching the perfect loyalty program. As it is very keen on drawing the attention of customers as well as retaining them, Amazon has distinguished itself from other similar websites by introducing Prime. There are a lot of benefits to Prime membership apart from free shipping, such as:

<ul class="banklogin_ul">
	<li>
	Free one-day and two-day delivery to eligible addresses
	</li>
	<li>
	Free scheduled delivery to eligible addresses
	</li>
	<li>
	Discounted delivery at Rs. 50
	</li>
	<li>
	No minimum order value for standard delivery
	</li>
	<li>
	Early access to Lightning Deals
	</li>
	<li>
	Lightning Deals and Deals of the Day
	</li>
	<li>
	Unlimited video streaming on Prime Video
	</li>
	<li>
	Unlimited, ad-free access to Prime Music
	</li>
	<li>
	Access to Amazon Kindle
	</li>
</ul>

Amazon rewards prime customers with all these benefits at once, making it one of the best customer loyalty programs.

Starbucks Rewards

Carrying all your membership cards can be a real bother at times. In this regard, Starbucks stole the hearts of its customers by introducing its own mobile application. Running the program through its app makes it easy for customers — no card to forget or lose, no sign-in required. Here’s how Starbucks Rewards work: You can earn rewards as stars, earning one star on a purchase of Rs. 300, when you order from the Starbucks app. This also creates a goldmine of data of your preferences, making it a great customer loyalty program example.

Swiggy Super

If you're loyal to Swiggy, you needn't pay some extra bucks to get some punchies for those hunger pangs during the wee hours of night. Swiggy, the popular food delivery platform, offers an excellently planned-out customer loyalty program that not only gives you food at heavily discounted rates but also minimizes the delivey charge. Their subscription schemes are flexible in terms of duration and come&nbsp;at a nominal price. Whether you live in the metro cities or a lesser known town - a Swiggy Super membership can help you save loads on food.

<h2 class="credit_i_h2">To Sum Up</h2>

These programs have gained a lot of significance by benefiting customers in all possible ways. Try checking out the rewards that you have, as you could avail a lot of benefits and save a handful of your hard-earned money.

Do you know about customer loyalty programs? If not, get to know everything about loyalty programs with mymoneykarma, your one-stop solution for all financial needs, and enjoy a host of benefits.

Customer Loyalty : 6 Customer Loyalty Programs

Martin Scorsese's film, 'The Wolf of Wall Street' is based on the real-life experience of the convicted white-collar criminal, 'Jordan Belfort,' who turns <a href="https://www.mymoneykarma.com/credit-cards/index.html/protect-from-credit-card-fraud.html" target="_blank">securities fraud</a> and market manipulation into a raunchy comedy through his investment company, 'Stratton Oakmont.' Long story short, the movie is about the 'wolf' who makes a fortune by selling blue-chip stocks, penny stocks and IPO stocks.

Leonard Di Caprio plays the character of stockbroker Jordan Belfort (the protagonist or 'The Wolf'), who makes his fortune by selling stocks, especially penny stocks. The movie is based on Belfort's memoir and vividly presents both the phases of his life - the time when he was a pure hedonist and a remarkable player in the bullish market, and his ultimate fall when he ended up convicted and imprisoned for fraud and money laundering.

In the movie, Jordan starts his career with a brokerage firm in New York City. Soon after joining the firm, he sets forth to learn the relentless nature of the business. The emphasis of the firm is on selling stocks and generating commissions, rather than educating and advising the customers about the investment products.

As a consequence of the significant market decline in October 1987, Jordan loses his job and starts working with a small firm that sells penny stocks. After realizing that the commissions on penny stocks are subsequently higher than the stocks traded on major exchanges, Jordan conceptualizes the establishment of his own firm.

At the request of a low-paid neighbor, he expands his operation and recruits several employees who have minimal financial knowledge and smutty interpersonal skills but a strong desire to succeed in their careers. Eventually, the firm sells blue-chip stocks and even starts initial public offerings (IPOs). Jordan emerges as a debonair business tycoon by training his employees in effective selling techniques.

During this time, he started taking drugs to streamline his focus on making money, but it blurred his sense of ethical behavior. He also violated the securities regulations while selling stocks, for which he gets convicted. After serving his time in prison, Jordan rises like a Phoenix - molding his strengths of sales and communications into being a motivational speaker.

Interestingly, if you read between the lines, The Wolf of Wall Street offers a handful of crucial lessons in the business and financial domains.

<h3 class="credit_i_h3">Lesson #1 Stop Paying Fund Managers to Invest Your Hard-Earned Money</h3>

Many people, who aren't aware of <a href="https://www.mymoneykarma.com/investing/index.html/stock-market-vs-mutual-funds.html" target="_blank">the stock market</a>, hire "experts" like financial advisors and fund managers to manage their money.

People looking to invest their money should usually opt for one of these two options - either do your research or invest in the passively managed index funds. It's better than hiring an expert to decide what happens to your money.

The reason is simple - <a href="https://www.mymoneykarma.com/investing/index.html/grow-your-money-by-investing-in-mutual-funds.html" target="_blank">mutual fund</a> managers are not empowered by advanced AI algorithms and machine learning technology. They are humans who are trying to reduce the risk in investment by diversifying the fund's portfolio across stocks.

<h3 class="credit_i_h3">Lesson#2 If It's Too Good to Be True, It Probably Is</h3>

Jordan Belfort earned millions of dollars through a "pump and dump" penny stock scam. The scam was slightly different and more involved than the typical illegal method of selling shares of non-existent companies because Belfort's firm was persuading the investors to invest in real companies instead of non-existent ones.

Penny stocks are cheaper and don't trade on major stock exchanges, as the companies that issue them typically don't publish financial statements. Since the market capitalization, stock price, and the daily volume of these stocks are quite low, they are highly vulnerable to manipulation. For example, a sudden large volume of purchase or sale could cause the price to drop by triple-digits in a single day. 
 
<img alt="10 Unforgettable Financial Lessons From The Wolf of Wall Street" src="../../images/new/personal-finance/10-unforgettable-financial-lessons-from-the-wolf-of-wall-street.jpg" class="img-responsive credit_i_img"> 
The notion of "pump and dump" was pretty simple - his firm used to accumulate the shares of these thinly-traded companies, stash them into secret accounts, and 'cold call' the investors to convince them that these companies were potential stocks for investments. The influx of purchasing orders would rapidly inflate the price, assuring investors that the shares are showing bullish behavior.

The best defense for everyday investors against these kinds of financial predators is to remember two things:

<ul class="banklogin_ul">
	<li>
	If a firm believes that a stock will shoot to the moon, they will not share that information with you through a phone call or email.
	</li>
	<li>
	Understanding the simple stock market fundamentals, such as market capitalization, volume, revenue, and earnings growth can help everyday investors in making their investments cautiously.
	</li>
</ul>

<h3 class="credit_i_h3">Lesson #3 Don't Let Success Affect You</h3>

Jordan Belfort couldn't handle the quick success, and he abused his life with drugs, lewd behavior and scams. Belfort's line in the movie, "On a daily basis, I consume enough drugs to sedate Manhattan" reflects the extent of his addiction.

This film teaches the lesson that everyone can't handle the overnight stardom. Moreover, it can lead people on the path of destruction.

<h3 class="credit_i_h3">Lesson #4 Set Clear Goals for Your Investments</h3>

Just like Belfort who knew that he wanted to become a wealthy person, you also need to know what you want from your investment. <a href="https://www.mymoneykarma.com/investing/index.html/grow-your-money-by-investing-in-mutual-funds.html" target="_blank">Segregate your goals</a> by the size and timelines and invest accordingly.

<h3 class="credit_i_h3">Lesson #5 Be Your Own Investment Expert</h3>

Follow the fundamental rule of 'Do It Yourself.' It's not rocket science! Research adequately about <a href="https://www.mymoneykarma.com/investing/index.html/fixed-maturity-vs-fixed-deposit.html" target="_blank">different financial instruments</a>; start investing in small proportions.

<h3 class="credit_i_h3">Lesson# 6 Representatives of the Financial Firms Are Sales Professionals, Not Financial Advisors</h3>

In the movie, Leonardo Di Caprio as Jordan Belfort trains his team of employees to sell investments. He does not educate them about the risks involved, their suitability for a particular portfolio, and other advisory regulations. The emphasis of the firm is solely on pushing the product to the client. Representatives are more worried about commissions than the <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/5-decisions-to-protect-your-finances.html" target="_blank">financial health</a> of the customer.

<h3 class="credit_i_h3">Lesson #7 There Is a Difference Between Legal and Ethical Behavior</h3>

Many of the ethically questionable behaviors are shown as perfectly legal in the movie.

For example, selling penny stocks is legal;&nbsp;but not informing the investors about the speculative nature of the stocks is unethical.

<img alt="" src="https://mmk-s3-cms.s3.amazonaws.com/1577430228837.jpeg" style="height:499px; width:749px" class="img-responsive credit_i_img">

<h3 class="credit_i_h3">Lesson #8&nbsp;Diversify the Investments</h3>

As an investor, you should never put all your eggs in one basket. Diversify your portfolio instead - investing across different stocks can be more fruitful.

<h3 class="credit_i_h3">Lesson# 9 Long-Term Success Can't Be Accomplished Through a Single Formula</h3>

While Belfort succeeded on Wall Street, his first venture of a meat delivery business had failed, due to which he had to sell his Porsche. He started afresh, tasted both success and failure. Even after going bankrupt, Belfort applied his sales skills to step up the ladder and eventually became a best-selling author and a motivational speaker.

<h3 class="credit_i_h3">Lesson # 10 Financial Mistakes Can Be Rectified</h3>

As he once shared with a journalist of Reuters, "You can do the best with the gifts that God has given you and also the worst can be done," Belfort had learned his lessons from his former life.

He was ordered by the court to repay $110 million to his investors out of the $200 million that he had swindled from the clients. He regained this amount by advising major financial institutions and lecturing on the business ethics; he fulfilled the promise and paid back the money to the victims of his scam.

So, yes, he made a financial mistake, but rather than becoming depressed for being bankrupt, he found a way to rectify it.

<h2 class="credit_i_h2">To Sum Up</h2>

Every person learns from his or her own <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/top-financial-mistakes.html" target="_blank">mistakes</a>. Have you ever reflected on yours? Moreover, did these financial lessons strike you when you had watched this oscar-nominated movie?

Well, you might want to go back, watch it again and have your 'eureka' moment.

&nbsp;

Wolf of Wall Street teaches us 10 unforgettable financial lessons. Have you ever realised them while watching the movie? mymoneykarma is here to enlighten your minds.

10 Unforgettable Financial Lessons from the Wolf of Wall Street

What do you find most appealing in children? Is it their beauty? Is it their playfulness? Is it their innate humor? Apart from these, the most appealing thing about children is their innocence, their curiosity, and their belief or trust in their parents. Have you ever noticed that your children behave the way you do? You may feel embarrassed by it sometimes, but that is what children do. They try to ape you. They try to be like you. They believe in whatever you say. So, childhood is the time when you must educate your kids about the importance of money, as they believe in that.

Parents are the most important people in the life of children. Teach your children a lot of good habits. A growing family witnesses an increase in expenditure. This is the time you must educate yourself as well as your children on the benefits of saving money. This is where the importance of a piggy bank kicks in.

<h3 class="credit_i_h3">What is a Piggy Bank?</h3>

A piggy bank is not just a storage box for thousands of rupees. It symbolizes the essential habit of saving money. Putting a coin or two in a piggy bank has been fun for most of us in the olden days. However, nowadays parents are taking piggy banks more seriously because they have realized the utility and importance of piggy banks to teach children how to save money.

One of the most effective ways of parenting is teaching your child the value of money. Saving money is an essential skill you need to have in your life. Buying a piggy bank for your kids at an early age and encouraging them to fill it up with money can inculcate great saving habit in your children. Ask your children to drop the coins or currency notes received as blessings from their aunt, uncle, grandparents, etc. into their piggy banks. Even if they are young, start budgeting for your kids. The best thing they can throw into a piggy bank is leftovers.&nbsp;

<h3 class="credit_i_h3">How Do You Encourage Your Children to Save Money in Piggy Banks?</h3>

Piggy banks are fun elements for children. They’re like toys that inherently attract children and hence encourage them to save money as they cannot understand the concept of real banks or savings account. Here is the list of things you must keep in mind while educating your kids about piggy banks.

<ul class="banklogin_ul">
	<li>
	Gift your children a piggy bank on their birthday.
	</li>
	<li>
	Teach your kids about money and its importance.
	</li>
	<li>
	Make it a ritual to fill it with a minimum amount weekly.
	</li>
	<li>
	Set some financial goals for your children.
	</li>
	<li>
	Give them a target, and if they reach it, gift them with something like a toy, a video game, or increase the amount of the weekly ritual.
	</li>
	<li>
	Make a plan on how the money must be spent.
	</li>
</ul>

<h3 class="credit_i_h3">The Importance of Piggy Banks</h3>

<ul class="banklogin_ul">
	<li>
	Helps in Organizing Loose Change: You might often end up losing all the change under the couch, in your car, or under your pillow when you go for shopping. Piggy bank is a better way to organize this loose change. You can also save the right amount of money which go wasted every time.
	</li>
	<li>
	Helps in Adding up Money: Setting up goals is one crucial thing you must do for your children. What do children like to buy usually? It can be a bicycle or a video game or a beautiful doll. Make them save every penny to purchase the toy they desire. This would keep them motivated toward the assigned goal. Also, it visually shows your children how close or far they are from achieving the goal.
	</li>
	<li>
	Motivates You by Setting a Great Example: Piggy banks are effective ways to teach youngsters in the family about the importance of saving money. You might not save an enormous amount, but indeed you end up saving something with which they can buy a new toy or a new video game. This drives the children to save more and more, which benefits them in the near future.
	</li>
	<li>
	Helps You to Save Always: “A penny saved is a penny earned,” said Benjamin Franklin. Savings must be a top priority for your children. It must become a habit for your children to save money. Tell them the purpose and importance of piggy banks. A piggy bank is just like a foundation for great savings. It’ll surely help inculcate a saving habit in your children.
	</li>
</ul>

<h2 class="credit_i_h2">To Sum Up</h2>

Now that you know why you should educate your children about the benefits of saving money, rush to the market and get your kids a piggy bank. It creates a roadmap to a bright future in which they know how to manage their money. Have fun and saving more!

&nbsp;

Have you ever gifted your children with a piggy bank? If not, you must do it. Want to know why? mymoneykarma, your financial success partner, is here to help you out in letting you understand the importance of piggy banks.

Importance Of Piggy Banks | Teach Your Kids More About Money

Rishi had planned a trip to Bali. He was very excited to explore a new country with his friends. However, two days before the trip, he was intimated that the flight was canceled due to weather issues, and there was no clarity on rescheduling. Moreover, when he got in touch with the travel agency about the refund, they said that they are not liable to pay it.

The flight cancellations due to natural calamity in other country is not in their control, and he needs to claim the amount through travel insurance. However, this was not the end. In fact, his problems had just started here, because he hadn't purchased travel insurance at all. He was not aware of its significance, and hence, the entire excitement of travel went in vain.

This incident teaches us a lesson here. Deciding to travel without getting insured, especially if the person is touring overseas, is a bit of a risky bargain. This is just one instance of repercussions due to negligence, though. There could be many other situations of greater consequence,&nbsp;in which <a href="https://www.mymoneykarma.com/insurance/index.html/reasons-to-buy-travel-insurance.html" target="_blank">travel insurance might be a savior</a> - you may face a medical emergency or may miss a connecting flight, or may become a victim of many unfortunate incidents such as theft, plane hijacking, and loss of any essential travel document.

<img alt="Top 6 Travel Insurance Plans of 2019" src="../../images/new/travel/top-6-travel-insurance-plans-of-2019.jpg" class="img-responsive credit_i_img">

The purpose here is not to kill your excitement for the <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/how-to-save-for-a-vacation.html" target="_blank">trip you have been planning</a> for long, but to make you aware so that you can enjoy a fantastic vacation without any worries, if only you throw in a few extra hundred bucks. To provide you with more options in this area, mymoneykarma has come up with a list of the best travel insurances of 2021, which you must definitely check out before deciding to go with one.

<h3 class="credit_i_h3">Aditya Birla Travel Insurance</h3>

Coverage:&nbsp;

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	Coverage of medical and hospitalization expenses, accidental death, permanent disablement
	</li>
	<li>
	Checked-in baggage loss/baggage delay
	</li>
	<li>
	Loss of passport
	</li>
	<li>
	Hijacking related damages
	</li>
	<li>
	Trip delay/cancellation
	</li>
	<li>
	Automatic-extension of the cover
	</li>
	<li>
	Medical emergency assistance
	</li>
	<li>
	Repatriation expenses, etc.
	</li>
</ul>

<h3 class="credit_i_h3">Bajaj Allianz Travel Insurance</h3>

Coverage:&nbsp;

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	<li>
	On-call support anywhere in the world
	</li>
	<li>
	Quick claim settlement
	</li>
	<li>
	Emergency cash advance
	</li>
	<li>
	Innovative packages to match individual needs
	</li>
	<li>
	Automatic claim settlement with trip delay delight
	</li>
	<li>
	Loss of baggage and passport
	</li>
	<li>
	Home burglary insurance
	</li>
	<li>
	Covid-19 cover
	</li>
</ul>

Travel insurance plans under them:

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	<li>
	Corporate travel insurance
	</li>
	<li>
	Travel Asia policy
	</li>
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	Bharat Brahman Policy
	</li>
</ul>

<h3 class="credit_i_h3">Bharti AXA Travel Insurance</h3>

Plans and coverage:

<table class="table table-bordered credit_i_table">
	<tbody>
		<tr>
			<td>
			Plan Name
			</td>
			<td>
			Coverage
			</td>
		</tr>
		<tr>
			<td>
			Smart Traveller Insurance Policy (Individuals &amp; Families)
			</td>
			<td>
			It offers coverage for personal accidents, medical expenses, dental care expenses, passport loss, baggage delay/ loss, trip delay, personal liability, flight hijack and compassionate visit.
			</td>
		</tr>
		<tr>
			<td>
			Smart Traveller Insurance Policy (Student)
			</td>
			<td>
			It offers coverage for medical and dental treatment expenses, study interruption, legal expenses, sponsor protection, personal liability, bail bond, personal accident, compassionate visit, passport loss and documents loss.
			</td>
		</tr>
		<tr>
			<td>
			Smart Traveller Insurance Policy (Corporate)
			</td>
			<td>
			It offers coverage for medical expenses, personal accidents, passport &amp; documents loss, trip delay/ cancellation &amp; interruption, personal liability, home fire insurance, financial emergency assistance and flight hijack.
			</td>
		</tr>
		<tr>
			<td>
			Bharti AXA Travel Assure – Group Overseas Travel Insurance
			</td>
			<td>
			It offers coverage for emergency medical expenses, medical evacuation, repatriation of mortal remains, political risk &amp; catastrophe evacuation, passport &amp; documents loss, baggage delay/ loss and trip cancellation/ interruption/ delay.
			</td>
		</tr>
		<tr>
			<td>
			Group Domestic Travel Insurance Policy
			</td>
			<td>
			It offers coverage for personal accidents, personal liability and baggage loss.
			</td>
		</tr>
	</tbody>
</table>

<h3 class="credit_i_h3">Cholamandalam Travel Insurance</h3>

Plans and coverage:

<table class="table table-bordered credit_i_table">
	<tbody>
		<tr>
			<td>
			Plan Name
			</td>
			<td>
			Coverage
			</td>
		</tr>
		<tr>
			<td>
			Comprehensive Travel Insurance
			</td>
			<td>
			It offers coverage for medical &amp; dental expenses, ambulatory care services, check-in baggage delay, hospital daily cash, passport loss, financial emergency, personal accident, loss of international license and personal liability.
			</td>
		</tr>
		<tr>
			<td>
			Student Travel Insurance
			</td>
			<td>
			It offers coverage for medical expenses, bail bond, dental expenses, check-in baggage loss, passport loss, compassionate visit, personal liability, sponsor protection, personal accident, study interruption and repatriation of remains.
			</td>
		</tr>
		<tr>
			<td>
			Leisure Travel Insurance
			</td>
			<td>
			It offers coverage for medical treatment, flight hijack, dental treatment, passport loss, check-in baggage loss/ delay, home burglary, personal liability, trip delay/ cancellation/ curtailment, personal accident and financial emergency.
			</td>
		</tr>
	</tbody>
</table>

<h3 class="credit_i_h3">Digit Travel Insurance</h3>

Plans and coverage:

<table class="table table-bordered credit_i_table">
	<tbody>
		<tr>
			<td>
			Plan Name
			</td>
			<td>
			Coverage
			</td>
		</tr>
		<tr>
			<td>
			Basic Option
			</td>
			<td>
			It offers coverage for emergency accidental &amp; medical treatment, check-in baggage delay or total loss, passport loss, personal accident, accidental death &amp; disability and medical evacuation.
			</td>
		</tr>
		<tr>
			<td>
			Comfort Option
			</td>
			<td>
			It offers coverage for emergency medical &amp; accidental treatment, trip cancellation, flight delay, missed connection, trip abandonment, personal accident, emergency cash, personal liability, passport &amp; baggage loss, and bail bond.
			</td>
		</tr>
	</tbody>
</table>

<h2 class="credit_i_h2">To Sum Up</h2>

It's true that while <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/tips-to-book-cheapest-flight-tickets.html" target="_blank">booking tickets</a>, buying travel insurance becomes an add-on expense. However, if you do not make it a part of your plan, then you may be putting yourself in grave danger.

Also, be vigilant while comparing travel insurance plans and opt for the one that offers you maximum benefits.

Have a nice trip!

&nbsp;

Here are the top 5 travel insurance plans of 2019 from our experts at mymoneykarma. Check them out if you are planning a vacation.

Top 5 Travel Insurance Plans of 2021 | mymoneykarma

We all like buying new things. The pleasure that we get from first ownership is unparalleled - be it the first toy that you played with as a kid or the lavish car that you bought when you were thirty years old. It gives us a sense of confidence and immense pleasure when we buy something brand new for ourselves.

Before you get carried away in the nostalgia-lane of your "possessions", consider these facts.

<ol class="homeloan_Faqs_ul_1">
	<li>
	A new cotton T-shirt is responsible for one-third of the pesticides dumped into the fields
	</li>
	<li>
	95% of the books are made from virgin paper
	</li>
	<li>
	A pre-used good can cost you about 90% less than a new one!
	</li>
	<li>
	48% of plastic consumed in India is from packaging
	</li>
</ol>

Does that put things in a different perspective?

It is easy to see that consumption has several unfavourable effects - enough to make one reconsider his buying habits. However, apart from the serious environmental consequences and high-cost, there are other reasons why you must consider buying pre-owned items.

<img alt="Why you should get over the phobia of buying pre-owned items" src="../../../images/new/travel/why-you-should-get-over-the-phobia-of-buying-pre-owned-items.jpg" class="img-responsive credit_i_img">

Here's a list of reasons why you must might as well start making use of handed down commodities.

It's great for the environment

With concerns over environmental protection taking the center stage in all the debates concerning the development of growth of the nations, it's essential for individuals to acquire habits that are more environment-friendly in their personal space.

Did you know that about 1800 gallons of water is used to produce a pair of blue jeans! Using a handed-down pair instead of buying a new one from the shop might help in reducing the environmental damage that you cause. If you're someone who is concerned about environmental issues, you must know that everytime you decide against <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/smart-shopping-tips-for-working-women.html" target="_blank">buying new clothing</a> and mend your old clothes, you're saving the greens!

It's easy on your pocket

It's needless to say that buying used items is accommodating to <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/how-to-make-budget.html" target="_blank">your budget</a>. What's the use of designing an elaborate budget to manage your finances better if you don't know about this simple trick to <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/tips-for-saving.html" target="_blank">make savings ten times easier</a> for you?

Using pre-owned goods could generate a large amount of <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/optimize-your-savings.html" target="_blank">savings</a> for you in the long-run. You can get a furniture for 10% of the price of the original one, and if the luck is on your side, then you might end up buying an antique. A pre-owned or rented refrigerator isn't a bad deal if you're someone who hops cities every few months.

Handed down items can be great assets

Hoarders would agree to this - sometimes, we can see potential assets in stuff that people think are useless. People tend to throw away their junk, but all the things that people discard cannot be considered insignificant. You can buy stuff at lower prices and sell them off to people who need it at a greater value- that way, you can make a reasonable profit and there is no wastage.

Used products don't have any packaging

It's obvious that handed-down goods don't come with any sort of packaging. When we buy something new we tend to ignore the packaging completely. Sometimes, we tend to re-use the packaging, but mostly throw it off. You can get creative and make something crafty out of the cardboard or plastic wrap, but let's be real we rarely have the patience to sit through all the DIY videos! Boring, right?

Here's an easy solution. Avoid packaging and buy something from your friend or from the local thrift shop. It could save you some money and of course no packaging hassle.

Help the local economy

You can help the local economy by buying some pre-owned items from your neighbor, that way you boost the local economy and the money stays in your locality-instead of generating revenues for the Multi-National Company. Buying from a local thrift shop could help those people in need- it could help the owner to <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/benefits-of-financial-literacy-for-kids.html" target="_blank">educate his children</a> or buy a meal for the poor.

It can make you look more fashionable

If you're someone who loves vintage fashion then visiting thrift shops or nibbling through your mom's wardrobe could land you some great vintage clothing. Pair the clothes right and you'll garner compliments for your great fashion sense without spending a penny on it. Don't you think it's a great deal?

&nbsp;

Pre-owned or second-hand items can not only be a pocket-friendly way of shopping but can also benefit your way of life in several other ways. If you are apprehensive of buying pre-owned items, here are a few good reasons by mymoneykarma to get rid of that phobia.

Pros of Buying Pre-Owned Items

Reward programs often motivate customers to utilize a credit card for bill payments, shopping, <a href="https://www.mymoneykarma.com/credit-cards/best-credit-cards-for-dining.html" target="_blank">dining</a>, <a href="https://www.mymoneykarma.com/credit-cards/how-to-fly-for-free-with-travel-credit-cards.html" target="_blank">travel</a>, etc. In exchange, the users can accrue points and redeem them later for various perks and gifts. But why do these card companies offer reward points in the first place? Let's delve into a more in-depth discussion to discover the nuances of rewards points.
<h3 class="credit_i_h3">What are Credit Card Reward Points?</h3>
Whenever you use your credit card for any transaction, the <a href="https://www.mymoneykarma.com/credit-cards/applying-for-a-credit-card.html">credit card</a> issuers earn an 'interchange fee' from the merchant, which varies between 1% - 2.5%. The outlet may negotiate for a lower fee if its sales volumes are soaring.
Along with the 'interchange fee,' credit card companies also make money from the annual fee and high interest earned on penalties of unpaid bills from the card users. So, to attract and <a href="https://www.mymoneykarma.com/travel-lifestyle/6-customer-loyalty-india.html" target="_blank">retain customers</a>, the company allocates a minuscule portion of its earnings (primarily from the interchange fee) to the users as reward or loyalty points.&nbsp;
<h3 class="credit_i_h3">Benefits of Reward Points</h3>
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<li>
Air miles: If you are a <a href="https://www.mymoneykarma.com/travel-lifestyle/frequent-flyer-programs-india.html" target="_blank">frequent flyer</a>, then air miles are a bliss for you. As a card user, you can redeem your reward points into air miles with the airlines that are in collaboration with credit card companies and get amazing discounts. Here are some examples of airlines that are associated with reward programs:
<ul class="banklogin_ul">
<li>
Air India - Flying Returns
</li>
<li>
Vistara - Club Vistara
</li>
</ul>
</li>
<li>
Gift vouchers: Another benefit of reward points are gift vouchers, which may range from a minimum of Rs. 100 to Rs. 5,000 or more. You can utilize these gift vouchers anywhere as per your convenience, either at the brand's store or an online store. The categories of gift vouchers include apparel, books, <a href="https://www.mymoneykarma.com/travel-lifestyle/save-money-on-groceries.html" target="_blank">groceries</a>, lifestyle, food, beverages, and much more.&nbsp;
</li>
<li>
Room miles: Banks also affiliate with hotels for their reward programs, which provide customers with the leverage of redeeming their reward points into room miles at the partnered hotels.&nbsp;
</li>
<li>
Cashback: If gift vouchers and miles don't woo you enough, then a <a href="https://www.mymoneykarma.com/credit-cards/top-cash-back-credit-cards.html" target="_blank">cashback</a> offer may do so. The cashback that you receive on redeeming reward points can be used either <a href="https://www.mymoneykarma.com/credit-cards/pay-off-credit-card-debt.html" target="_blank">against your credit card bill</a> or for shopping. If you have a substantial amount of cashback through reward points on your plate, it could help you save a considerable amount of money.
</li>
<li>
Loyalty Points: Loyalty points are not new in the game of reward programs. However, if your bank offers you the provision of accumulating reward points earned on your debit as well as credit cards (of the same bank) under one roof and redeeming them together, isn't that a fascinating scheme? et's discuss this with an example of Axis Banks' eDGE loyalty rewards program. Here, as a loyal customer, you get to accumulate reward points on the credit/debit cards along with savings accounts and foreign remittances.
</li>
</ul>
<h3 class="credit_i_h3">How to Calculate Reward Points?</h3>
Let's consider an instance: Suppose your credit card bill reflects 10,000 points against all purchases that you have made in the last one year, then what will the value of these points be in monetary terms?
The value of the reward points may vary from one company to another and can lie anywhere between 10 paise/point and Re.1 per/point. It can be determined by the price of the gift available against redemption. For example, if a credit card company is offering a wrist watch worth Rs 1,000 against 10,000 reward points, then each reward point is worth 10 paise.
<h3 class="credit_i_h3">How to Earn Reward Points?</h3>
<ul class="banklogin_ul">
<li>
Daily spendings: Use your <a href="https://www.mymoneykarma.com/credit-cards/credit-card-cash-advance.html">credit card</a> even for minimal-amount transactions.&nbsp; This can help you earn a substantial number of reward points, ranging from 1 - 10 or even more, depending on your spending frequency.
</li>
<li>
Welcome bonus points: Every bank offers some bonus points to welcome their customers. <a href="https://www.mymoneykarma.com/credit-cards/find-perfect-credit-card.html" target="_blank">Before purchasing the credit card</a>, check out the terms and conditions stated by the bank to earn these bonus points. If the spending threshold suits your budget, then this can be an excellent opportunity for you to obtain a considerable number of reward points by purchasing within 90 days of card issuance.
</li>
<li>
Co-branded cards:&nbsp; Reward points on co-branded cards are 5-10 times higher than other cards. Co-branded cards are launched by the card companies in partnership with airlines, <a href="https://www.mymoneykarma.com/credit-cards/save-money-fuel-credit-card.html" target="_blank">petrol pump companies</a>, and branded stores. So, if you use a co-branded card at any of the associated petrol pumps, you can earn extra reward points and discounts.
</li>
<li>
Spend on special occasions: You can also accomplish bonus points for using credit cards during festivals and other significant events. For example, during Diwali, some credit card companies offer 50 bonus points on the first online transaction.
</li>
<li>
Premium Purchases: Spending on high net-worth items such as jewelry or international travel bookings can also fetch you more reward points.
</li>
<li>
Use a premium card variant: If you use a card variant which is premium or super premium, you can earn a substantial amount of reward points for every purchase made. For example, Axis Bank My Zone card members can accrue around 40 reward points on every Rs 200 spent on dining during weekends.
</li>
</ul>
<h3 class="credit_i_h3">How to Redeem Reward Points?</h3>
Before redeeming your accumulated bonus points, check out the following terms:
<ul class="banklogin_ul">
<li>
Minimum reward points: Find out the minimum number of reward points that you require to reach the stage of redemption, as mentioned by the credit card issuer.
</li>
<li>
Expiration Date: Reward points have an expiry period, which can vary from 1 to 3 years. Banks deduct the accumulated unused reward points at the end of every financial year as they are a liability on the banks' records, which they would want to eliminate. It is also a technique used by banks to coax&nbsp;card users into redeeming the points on time.
</li>
<li>
Redemption Fee: Reward redemption entails a fee of around Rs.100, which the bank levies to redeem the points.
</li>
</ul>
<h3 class="credit_i_h3">Avenues of Redemption</h3>
You can redeem your reward points through any of the following modes:
<ul class="banklogin_ul">
<li>
Customer Care: Approach the customer care representative of your bank, either through phone or email, and place your request for redemption by providing the essential details. Download the redemption form, fill it in with the necessary information, and send it to the bank through e-mail or post as instructed by the executive.
</li>
<li>
In-Store: Banks have also partnered with several retail brand stores, which let customers shop and pay for their purchases through their accrued reward points. Any remaining balance for the purchase will be charged via your credit card.
</li>
<li>
Online: In partnership with numerous brands, most reward programs have started offering an array of categories such as garments, home appliances, and <a href="https://www.mymoneykarma.com/travel-lifestyle/reasonable-and-safe-cosmetics-in-india.html" target="_blank">cosmetics</a>, besides gift vouchers and charity donation, wherein you can utilize your reward points to <a href="https://www.mymoneykarma.com/travel-lifestyle/use-of-online-coupons.html" target="_blank">shop online</a> from any of these categories. Online redemption is the most convenient option among others.
</li>
</ul>
<h3 class="credit_i_h3">A Few Tips to Be Vigilant</h3>
<ul class="banklogin_ul">
<li>
&nbsp;Read the terms and conditions that accompany credit cards.&nbsp;
</li>
<li>
Make sure that the reward system suits your financial needs and lifestyle. For instance, If you aren't a frequent traveler, then don't choose credit cards that provide air miles.
</li>
<li>
If you are unable to comprehend your rewards account, then get in touch with a customer care executive and learn the nuances of your credit card reward points.
</li>
</ul>
<h2 class="credit_i_h2">In a Nutshell</h2>
A wise man once said - "Don't judge a book by its cover" - which applies to credit card buyers as well. Make sure that you don't fall into the trap of excessive bonus points available on the credit card before checking out the background information.
Also <a href="https://www.mymoneykarma.com/credit-score/credit-score.html?utmsrc=credit-cards_2027" target="_blank">check your credit score</a> regularly to make sure that you are not spending beyond the recommended <a href="https://www.mymoneykarma.com/credit-scores/credit-utilization-ratio.html" target="_blank">credit utilization rate</a>.
Enjoy the Rewards!
&nbsp;

How well do you know about credit card reward points? mymoneykarma helps you learn about how to earn reward points and how to redeem them.

 Credit Card Reward Points - How to Earn and Redeem

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<blockquote>
“How do I get my first ever credit card?”

“What is the best credit card to start with?’”

“Which first time credit card is the easiest to apply and get approved?”
</blockquote>

These are, perhaps, some questions racing through your mind when you are about to get your first&nbsp;credit card.

You feel excited yet apprehensive at the same time. It’s almost the same rush of feeling that you got during your first school crush years back. After all, this is something that you’ve wanted for a long time. Perhaps ever since you saw one with your parents. Maybe you know a credit card as a lifestyle or a status symbol, or even wish to have one for genuine utilitarian reasons.

These are in fact some of the questions asked by young adults <a href="https://www.mymoneykarma.com/credit-scores/index.html/start-building-credit-when-you-turn-18.html" target="_blank">aged between 18 and 21</a> years of age, and some of their reasons for wanting a&nbsp;credit card. The age group given above also happens to be that of <a href="https://www.mymoneykarma.com/credit-scores/index.html/build-credit-history-for-college-students.html" target="_blank">college-going kids</a>. Interestingly, their parents ask these questions as well! After all, they too need to know whether their kids are ready for getting a first-time credit card.

There are a few things that you, as a potential first-time credit card user, should remember. Getting a credit card when you are leaving home, for a party, <a href="https://www.mymoneykarma.com/travel-lifestyle/index.htmlindex.html/credit-card-tips-overseas-travel.html" target="_blank">a foreign trip</a>, shopping, or just because you feel like it, are not good enough reasons. Instead, here are four rules that you need to consider before <a href="https://www.mymoneykarma.com/credit-cards/index.html/applying-for-a-credit-card.html" target="_blank">applying for a credit</a> card for the first time:

<ul class="banklogin_ul">
	<li>
	Maintain an emergency fund to cover three months worth of necessary expenses
	</li>
	<li>
	Have a full-time or regular part-time job for at least 12 months
	</li>
	<li>
	Make a budget for 12 months and live below your means
	</li>
	<li>
	Use a debit card for one year without using the overdraft protection or getting a purchase declined.
	</li>
</ul>

<h3 class="credit_i_h3">Why Is an Emergency Savings Fund More Important than Building Credit?</h3>

Here’s a financial education tip for you!

Your top priority should always be to pay yourself even when you are paying for living expenses and various other bills. You need to make savings your commitment. The critical thing to remember here is that before you think of applying for a store card or a credit card, make doubly sure that you have enough saved up for in your savings accounts for your living expenses.

An emergency fund is important because in case you were to face job loss, loss of income, a medical emergency, or sustain an injury, you’ll need the emergency fund for a few months at least. During such a time, more than looking for a job, you would want to be taking care of yourself first. Having an emergency fund helps you remain independent in such cases.

<h3 class="credit_i_h3">Why Income Matters for Young Adults Wanting a Credit Card</h3>

You may think that credit card companies always look at a person’s income before approving the first credit card. That is not entirely true. They do not focus on income as much as you think. However, having a steady source of income is important for the sake of your own credit health. Therefore, one instance where you should not be applying for a credit card is when you have sporadic or seasonal income.&nbsp;

For instance, while at college you may work only during vacations. If you can’t pay the balance of a purchase made by credit card on time, the merchant will require a <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/credit-card-minimum-payment.html" target="_blank">minimum monthly payment</a> plan from you. This usually is 3% of your total <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/high-credit-card-balance.html" target="_blank">outstanding balance</a>.&nbsp;

You will have to pay this regardless of whether you have a job or not, and interest will be charged <a href="https://www.mymoneykarma.com/credit-cards/index.html/things-to-do-if-you-miss-credit-card-payment.html" target="_blank">if you miss payments</a>. The most unfortunate thing is that records of such instances soil your credit report for several years. These are not to be taken lightly, as they <a href="https://www.mymoneykarma.com/credit-scores/index.html/6-reasons-for-credit-score-drop.html" target="_blank">lower your credit score</a> and decrease your chances of getting affordable loans.

<h2 class="credit_i_h2">Your First Time Credit Card: The 5 Best Sources</h2>

Now that you are determined to get your first-time credit card, you need to find the best way for it. Here are some of them.

<ul class="banklogin_ul">
	<li>
	Your bank: If you already have a savings or checking account at a bank, apply for a credit card there first. There are high chances that your application will be accepted as you are already their customer.
	</li>
	<li>
	Secured credit cards: <a href="https://www.mymoneykarma.com/credit-cards/index.html/secured-vs-unsecured-credit-cards.html" target="_blank">Secured credit cards</a> are those that have a security deposit against the credit limit. This makes it less risky for the lender.
	</li>
	<li>
	Credits cards sans credit history: These are not so easy to find. However, it can safely be said that most of the well-known credit card providers give customers limited-history credit cards.
	</li>
	<li>
	Retail and store cards: These are easier to get, but come with high-interest rates. Additionally, you can only use these for making purchases with a specific brand.&nbsp;
	</li>
	<li>
	Cosigners: To get a credit card, most banks now require a co-applicant's signature. This can be your parents or guardians. You can get a card this way easily, but know that usage of the card will affect their credit history as well.
	</li>
</ul>

<h2 class="credit_i_h2">To Conclude</h2>

Getting your first time credit card is no mean feat. If you just got your credit card, congratulations. Just remember that you still have to use it responsibly for as long as you choose to have it.

<a href="https://www.mymoneykarma.com/credit-score/credit-score.html?utmsrc=credit-cards_2077" target="_blank">Check your credit score</a> regularly to keep track of your credit health as well.

Looking for your first time credit card? This may seem challenging for a young adult, but it is possible. Here is a bit of financial education from mymoneykarma.

Are You Ready for Your First Credit Card?

Pooja was excited about her first credit card. However, she was quite nervous and apprehensive as well, thinking about <a href="https://www.mymoneykarma.com/credit-cards/index.html/credit-card-mistakes-to-avoid.html" target="_blank">the mistakes</a> that she may commit unknowingly.

She approached her friend Malini, who works in a bank, to ask for some tips to consider before using her first card. Malini gave her ten fantastic tips for first time credit card users, which we are going to share with you. Here they are:

<h3 class="credit_i_h3">Pay on Time</h3>

Malini told Pooja that it was crucial to <a href="https://www.mymoneykarma.com/credit-cards/index.html/pay-off-credit-card-debt.html" target="_blank">make&nbsp;bill payments before the due date</a>. If Pooja misses payments, it would affect her credit score.&nbsp;

<a href="https://www.mymoneykarma.com/credit-scores/index.html/what-is-credit-score.html" target="_blank">Credit score</a> was a term with which Pooja wasn't familiar because she got her first credit card based on her corporate salary account. Nobody had asked her for credit history.&nbsp;

Malini told her that there is a vicious circle of credit which would start forming around her if she started using her credit card irresponsibly. For instance, if Pooja misses even a few payments, her card issuer will report this activity to the credit bureaus, who in turn compile the credit report.&nbsp;

Credit bureaus will mark this activity of <a href="https://www.mymoneykarma.com/credit-cards/index.html/things-to-do-if-you-miss-credit-card-payment.html" target="_blank">missed payments</a> as a negative record on Pooja's credit report, which will stay for seven years. This remark will give a red signal to other lenders in the future.

Now Pooja was curious to know more.

<h3 class="credit_i_h3">Monitor Your Credit Report</h3>

As Malini had already explained what a credit report is, she suggested that it would be best if Pooja checked it at least once in every quarter to keep a tab on her credit score.

Pooja asked Malini how much it would cost her to check a credit report frequently; to which Malini replied, "You can <a href="https://www.mymoneykarma.com/credit-score/credit-score.html?utmsrc=credit-cards_2078" target="_blank">check your credit report</a> multiple times for free on mymoneykarma's portal. they provide&nbsp;various other financial products and services as well.”

<h3 class="credit_i_h3">Don't Apply for a New Card in a Short Span</h3>

Malini also told Pooja that if she applies for a new card or loan, it would incur a hard inquiry.

The <a href="https://www.mymoneykarma.com/credit-scores/index.html/hard-inquiries-vs-soft-inquiries.html" target="_blank">hard inquiry</a> occurs when a lender pulls your credit report after you raise a request for new credit.

Pooja still wasn't clear why it was a point a concern. Malini told her that a number of hard inquiries could have a drastic impact on her credit score.

<h3 class="credit_i_h3">Set a Budget</h3>

Malini suggested that it was better to buy only those things that Pooja could afford. This suggestion seemed frivolous to Pooja, considering the vast <a href="https://www.mymoneykarma.com/credit-cards/index.html/what-is-a-credit-limit-and-how-does-it-affect-your-credit-score.html" target="_blank">credit limit</a> that she had.

So Malini had to explain further: “Spend only the amount that you can repay at the end of every month. For instance, if you are earning Rs.50,000 but spend Rs. 60,000, will you be able to pay it?”&nbsp;

Pooja was starting to see things more clearly "Is there any <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/choosing-budget-system.html" target="_blank">budget method</a> that I can follow?"- she asked, to which Malini replied, "Use the 50-30-20 method to set your budget. Whatever your take-home salary is, spend 50% of it on groceries and utilities (basic needs), 30% on wants (other expenses), and 20% on savings and paying off debts.”

<h3 class="credit_i_h3">Keep Tracking Your Purchases</h3>

Malini suggested that it was best to set a limit on how much Pooja could spend every month through her credit card and keep checking her account statements to track them.&nbsp;

“When you notice that you have exhausted your limit, don't spend any further until you <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/high-credit-card-balance.html" target="_blank">pay off the balance</a>.”

Pooja was intrigued

"Why do I need to set a limit when there is already a credit limit?"

"You wouldn't have heard about credit utilization ratio.” - replied Malini - “I will come to it later."

<h3 class="credit_i_h3">Set Up Auto Payments</h3>

Furthermore, Malini asked Pooja to schedule auto-debit payments ahead of the due date so that she never misses a payment. Pooja, who was forgetful by nature, found this to be a pretty good idea.

<h3 class="credit_i_h3">Pay More Than the Minimum Due</h3>

Malini was of the opinion that sometimes when Pooja isn't able to clear the entire payment, she should at least pay more than the <a href="https://www.mymoneykarma.com/buying-a-home/index.html/index.html/credit-card-minimum-payment.html" target="_blank">minimum due amount</a>.

This would save her from the extra interest that would accrue on the minimum due.

<h3 class="credit_i_h3">Redeem Rewards</h3>

Malini asked, " Pooja, does your credit card have reward points?"&nbsp;

"Yes, it does."&nbsp;

"Do you know <a href="https://www.mymoneykarma.com/credit-cards/index.html/credit-card-reward-points.html" target="_blank">how or when you can redeem them</a>?"&nbsp;

"No."

"Then, you need to understand the rewards program of your credit card thoroughly to reap its benefits," Malini replied. She knew all too well how many customers remained unaware of the rewards program altogether.

<h3 class="credit_i_h3">Check for Hidden Fees and Try to Avoid Them</h3>

“If there are other charges, such as late payment fees, etc., check about them with the lender and try to avoid them if possible. For example, avoid any late payment fee by paying your dues on time. Some cards may levy an annual fee as well.” Malini elucidated as Pooja nodded along in agreement.

<h3 class="credit_i_h3">Keep Your Credit Utilization Low</h3>

&nbsp;"Malini, you didn't explain that to me yet!" exclaimed Pooja.

"Yes, I will do it now,” Malini said with a chuckle. She had forgotten all about it.

“The <a href="https://www.mymoneykarma.com/credit-scores/index.html/credit-utilization-ratio.html" target="_blank">credit utilization ratio</a> is the amount you spend vs. your credit limit. Keep it below 30% to protect yourself from the vicious circle of credit that I told you about earlier. In fact, you can set your spending limit based on this percentage."

<h3 class="credit_i_h3">To Wind Up</h3>

Now Pooja was glad and satisfied, knowing all the tricks for using her first credit card to manage her finances well. Malini was happy that she was able to be of some help to her friend.

Well, we hope you found this helpful too! <a href="https://www.mymoneykarma.com/credit-score/credit-score.html?utmsrc=credit-cards_2078" target="_blank">Check your credit score</a> to make sure your credit health is spick and span.

&nbsp;

How to use a credit card for the first time? Are you a first time credit card user? Here are ten tips for first time credit card users on the mymoneykarma website.

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