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Introduction

Best Financial Management For students

It may not be affecting you directly, but the recent economic turbulence (which is supposedly heading for disaster) is just a example of what you may be facing the day you graduate and enter the job market. And, as those affected by the current economic crisis may tell you, now is probably the time to look at how you spend your money and to be more critical on those decisions you make which could affect the course of the rest of your life. Take debt for example, something which seems fine initially because you have a job (hopefully) and therefore will be able to afford the monthly installments. But did you consider the other things you might be spending on which will add to your monthly expenses? Probably not.

The following will serve as a basic blueprint of financial management for students - those still at school and those at college or university.

Create A Balance Sheet

Now is the best time to explore the basics of financial management. First and foremost is the use of a balance sheet detailing the various incomes and putting them in contrast with the various expenses. Which one is greater? Are you already in debt?

Oddly enough, most people recoil in shock when they put things down on paper for the very simple reason that spending is more of a continuous thing that a once off payment. Would you pay $8, 000 for a car this minute? No, probably not. Would you pay a monthly installment of $100 for the same car right now? It's the same way with spending: a myriad of little things accumulating over a period of time which could put you in an awkward position.
What You Need vs. What You Want

The bliss about being a student is that those things you need to spend money on are often less than those things you want to spend money on. But, when work starts and the responsibilities start mounting, these two soon switch around leaving many people unprepared for the sudden change. Along with your balance sheet, make a list of things you really need like housing, food, travel expenses, medical expenses, etc.
Budget

This is probably one of the last things you want to hear, but budgeting could set you on the road to riches faster than you think. This can be explained with the maxim: It takes money to make money. Saving now will give you that financial edge which could take years to reach before you are in a position to invest in those opportunities which capable of adding multiple digits to your bank balance.

 

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Lalit Nambiar Watch the interview of Lalit Nambiar, EVP - Fund Manager Head of Research at UTI MF with Prashant Nair, and Ekta Batra on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Wed, 18 Oct 2017 12:43:51 +0530


Adhil Shetty Your SIP investment must go up as your income rises.
Fri, 13 Oct 2017 12:14:33 +0530


Here#39;s a fundamental view on the market from Pankaj Tibrewal Watch the interview of Pankaj Tibrewal, Sr. VP Equity Fund Manager at Kotak Mutual Fund with CNBC-TV18#39;s Prashant Nair and Ekta Batra where he shared his readings and outlook on market fundamentals as well as specific stocks and sectors.
Mon, 09 Oct 2017 12:15:02 +0530


Reliance MF#39;s Gunwani says SEBI move on MFs good; positive on logistics, pharma Manish Gunwani sees good earnings, both domestic and global in FY19 and sectors such as telecom and pharma could see year on year growth.
Mon, 09 Oct 2017 11:19:33 +0530


Nilesh Shah In a move to declutter and rationalise mutual funds, Securities and Exchange Board of India (SEBI) sets 5 broad categories for mutual fund (MF) schemes. Also defines largecap, midcap and smallcap companies by market capitalisation. In an interview to CNBC-TV18, Nilesh Shah, Managing Director, Kotak Mahindra AMC shared his views and outlook on the same.
Mon, 09 Oct 2017 10:35:32 +0530


Juzer Gabajiwala These funds invest in highly liquid government instruments. You can invest even for a day and get your funds back the next business day
Thu, 28 Sep 2017 11:23:57 +0530


Jitendra P.S.Solanki Total return index captures dividends and show true picture of fund manager’s performance.
Wed, 27 Sep 2017 09:22:11 +0530


Nilesh Shah There seems to be lot of money waiting on the sidelines but when the correction comes and there is negativity around, they may like to time it better, said Nilesh Shah, Managing Director, Kotak Mahindra AMC.
Tue, 26 Sep 2017 12:29:22 +0530


Here#39;s a fundamental check on markets by UTI MF#39;s Swati Kulkarni Watch the interview of Swati Kulkarni of UTI MF with Prashant Nair and Ekta Batra of CNBC-TV18. She shared her reading and outlook on the market.
Mon, 25 Sep 2017 14:06:05 +0530


Mahesh Patil Mahesh Patil of Birla Sun Life believes that the Street currently could be reacting to cues such as higher current account deficit (CAD), pressure on the rupee and developments around fiscal deficit as well.
Fri, 22 Sep 2017 10:31:54 +0530


Here is a fundamental view on the market from Sunil Subramaniam Watch the interview of Sunil Subramaniam, CEO at Sundaram Mutual Fund with Prashant Nair and Ekta Batra on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Tue, 19 Sep 2017 12:25:49 +0530


Shweta Jain SIP work irrespective of market sentiment. Marry the SIP with your financial goal and you are home.
Tue, 19 Sep 2017 09:50:25 +0530


Sunil Singhania Says economy will continue to grow and that will drive up the equity markets going forward.
Mon, 18 Sep 2017 10:16:49 +0530


Rajeev Thakkar Among the new theme that they have added is Facebook, which is an international stock, said Rajeev Thakkar, Chief Investment Officer and Director, PPFAS MF.
Fri, 15 Sep 2017 16:24:18 +0530


Joydeep Sen Only a fund with a relatively smaller corpus size can be quickly repositioned; a large fund will have the baggage of existing portfolio which should not be disturbed.
Thu, 14 Sep 2017 09:53:45 +0530


Indian Energy Exchange to debut on bourses on October 23 Indian Energy Exchange#39;s issue price is fixed at Rs 1,650 per share, the higher end of price band.
Wed, 18 Oct 2017 18:15:59 +0530


Strong listing: MAS Financial ends 42% higher on Day 1 at Rs 651.2 The stock had a whopping premium of 44 percent on the National Stock Exchange on Wednesday at Rs 660 against its issue price of Rs 459.
Wed, 18 Oct 2017 16:44:20 +0530


Bumper Listing: MAS Financial Services debuts at Rs 660, surges 44% in opening MAS Financial Services has opened at Rs 660 against its issue price of Rs 459.
Wed, 18 Oct 2017 10:05:01 +0530


MAS Financial Services to debut on bourses on October 18, bumper listing likely Analysts expect the stock to list with a premium of Rs 150-200, given the strong subscription to the issue and strong financials of the company.
Tue, 17 Oct 2017 11:29:53 +0530


Reliance Nippon Life AMC eyes inorganic growth The company, a joint venture between Reliance ADAG and Nippon Life of Japan, would both issue fresh shares and offer for sale (OFS) of promoters#39; holdings to raise around Rs 1,500 crore from the market through the IPO.
Mon, 16 Oct 2017 17:40:15 +0530


Bumper Listing: Godrej Agrovet ends 29% higher on Day 1 The stock touched a high of Rs 630 and low of Rs 563.40 during the day’s trade.
Mon, 16 Oct 2017 16:59:23 +0530


Solid Listing: Godrej Agrovet debuts with 34% premium at Rs 615.60 per share Diversified agro-business company Godrej Agrovet started off first trade at Rs 615.60 on the National Stock Exchange, a whopping premium of 33.82 percent over its issue price of Rs 460 per share.
Mon, 16 Oct 2017 10:05:42 +0530


Godrej Agrovet to start stock market innings on Monday The Rs 1,157 crore IPO was a huge hit and oversubscribed 95.41 times during October 4-6. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 150.96 times, non institutional investors 236.04 times and retail investors 7.67 times, as per NSE data.
Fri, 13 Oct 2017 14:41:15 +0530


Agri business company Godrej Agrovet to debut on bourses on October 16 Analysts expect the listing price to be in Rs 550-600 per share range, given the overwhelming response to the issue and hefty grew market demand.
Fri, 13 Oct 2017 14:21:21 +0530


GIC Re IPO oversubscribed 1.35 times so far on Day 3 The issue IPO received bids for 16,87,32,208 shares against total issue size of 12,47,00,000 shares, data available with the NSE as of 6:00 pm showed.
Fri, 13 Oct 2017 13:43:11 +0530


General Insurance IPO subscribed 90% on Day 2 The issue comprises a fresh issue of 1,72,00,000 shares by the Corporation and an offer for sale of 10,75,00,000 shares by the promoter.
Thu, 12 Oct 2017 21:14:28 +0530


Reliance Nippon Life IPO to open on Oct 25, price band at Rs 247-252/share The initial public offering of up to 6.12 crore equity shares comprises a fresh issue of up to 2.448 crore shares by the company and an offer for sale up to 3.672 crore shares by the selling shareholders.
Thu, 12 Oct 2017 12:41:53 +0530


General Insurance IPO subscribed 72% on Day 1 The IPO of the reinsurance company, which is in a price band of Rs 855-912, will close on October 13. The issue comprises fresh issue of 1,72,00,000 shares by the Corporation and an offer for sale of 10,75,00,000 shares by the promoter.
Wed, 11 Oct 2017 16:06:26 +0530


Indian Energy Exchange IPO: Issue oversubscribed 1.88 times so far on Day 3 The IPO received bids for 99,13,914 shares against 42,45,508 shares on offer, as per NSE data.
Wed, 11 Oct 2017 13:29:23 +0530


GIC Re $1.7 billion IPO opens with a price band of Rs 855-912 per share India#39;s biggest reinsurer kicks off its initial public offering (IPO) today. The USD 1.7 billion issue opens with a price band of Rs 855-912 per share. In an interview to CNBC-TV18, Alice G Vaidyan, CMD of General Insurance Corporation of India (GIC) spoke at length about the IPO.
Wed, 11 Oct 2017 10:30:10 +0530


ArcelorMittal eyes Bhushan Steel to gain a foothold in the Indian market The company has previously shelved the plan to set up greenfield steel project in Odisha due to delay in land acquisition and allocation of iron mines.
Sat, 21 Oct 2017 21:20:36 +0530


Dominant India maul Pakistan 4-0 to enter Asia Cup final The sixth ranked India, who just needed a draw to seal a place in tomorrow#39;s summit clash, produced a superlative performance after the change of ends to pump in four goals -- three field strikes and one through penalty corner.
Sat, 21 Oct 2017 20:36:18 +0530


Put mandatory Aadhaar linking with bank accounts on hold: Bank union Another organisation All India Bank Employees Association (AIBEA) has also registered their protest against instructions given by some of the banks to designate certain branches as special cells for enrolment of Aadhaar.
Sat, 21 Oct 2017 20:20:19 +0530


Facing coal shortage, Nalco closes captive power plant Navratna CPSE National Aluminium Company Limited is faced with coal shortage leading to closure of three units of the company#39;s captive power plant and curtailment of production.
Sat, 21 Oct 2017 19:48:18 +0530


AAP comes out with first list of 11 candidates for Gujarat polls AAP choose Rajkot (West) constituency as it wanted to give fight to the BJP in its "fortress".
Sat, 21 Oct 2017 19:42:19 +0530


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Sat, 21 Oct 2017 19:18:39 +0530


#39;I am being sacked#39;, Cyrus Mistry texted wife upon ouster from Tata Sons A new blog post by ex-Tata Sons executive Nirmalya Kumar traces the chain of events on the day Mistry was sacked
Sat, 21 Oct 2017 19:16:16 +0530


BJP, Congress spar over Rahul Gandhi#39;s popularity on Twitter Information and Broadcasting Minister Smriti Irani took to the microblogging website to suggest that the retweets were from fake accounts abroad.
Sat, 21 Oct 2017 19:00:19 +0530


Spain will sack Catalan government, call regional election The Spanish government decided on Saturday to sack the secessionist leadership of Catalonia and force the region into a new election.
Sat, 21 Oct 2017 18:50:04 +0530


North Korea LIVE: Trump to persuade Xi to rein in Pyongyang at their Nov 8 meet A spokesperson for the North Korean foreign ministry today said that any attempts to strangle North Korea through US sanctions will be considered attempts to declare war. Stay tuned for more updates.
Sat, 21 Oct 2017 18:00:48 +0530


Congress, NCP slam MNS for evicting hawkers A group of activists claiming to be affiliated to the MNS today drove away more than two dozen illegal hawkers from a railway bridge in Thane.
Sat, 21 Oct 2017 17:32:19 +0530


India Power Conclave: Embracing next-gen technology in power sector Technology will of course be the game changer for India#39;s power sector like it is for every other sector. Watch accompanying videos for more details.
Sat, 21 Oct 2017 17:23:36 +0530


Govt says no changes to ceiling price methodology of scheduled drugs “The Government has been examining the Drugs (Prices Control) Order, 2013 (DPCO) with a view to enhancing the accessibility and affordability of essential medicines at reasonable prices to the poor and needy while providing sufficient opportunity for innovation and competition to support the growth of the Pharmaceutical Industry,” said the Department of Pharmaceuticals (DoP) in a statement on Friday.
Sat, 21 Oct 2017 17:15:58 +0530


Live Well with Diabetes: Understand diabetes  the organs it affects The series of Live Well with Diabetes is attempting to educate and make people aware about the various complications, the symptoms and various other facets of diabetes.
Sat, 21 Oct 2017 17:03:05 +0530


Google celebrates birthday of explorer Nain Singh Rawat Born in 1830, Rawat hailed from the Johar Valley of Kumaon in present-day Uttarakhand and was one of the first Indians who explored the Himalayas for the British.
Sat, 21 Oct 2017 16:44:19 +0530