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Things to take care of while taking home loans in case of the sudden death of the borrower

A person who does proper financial planning never falls victim to financial problems. It is necessary that while taking home loans, the borrower should have proper financial planning. The borrower should keep a sufficient amount of savings in the bank account before taking home loans. Even if an individual has a high income, the person who does proper savings and financial investments never fall short of the savings. Proper financial planning helps individuals protect themselves and their families from financial problems like sudden job loss, the sudden requirement of medical expenses, or the death of an earning family member. So the earning member of the family must keep savings instead of spending foolishly for a better tomorrow. There are various financial instruments being available for the borrowers to invest and grow their money for the betterment and financial safety of the family members. Making fixed deposits is also a better option but does not yield better than other financial instruments like stocks, mutual funds, or SIP.

Making a nominee in every investment is also essential for the financial investments being done. The borrower of the home loan should have such systematic financial planning that even in case of the sudden death of the borrower during the tenure of the loans, the house purchased for the family’s financial safety should not go away. There are many instances that whenever if the sole breadwinner of the family is lost by the family, in that case, the family members often face financial problems due to which they may have to mortgage their jewelry and also the house. Making a nominee in every financial investment helps the nominee claim the money in case of the sudden death of the investor. Also, the family members should know where the borrower has invested all the money. There should not be any unclaimed funds lying into any of the accounts that the family members would not be aware of. There are many funds being lying unclaimed with the banks, insurance companies, and other investments. It is estimated that the un-claimed funds have been amounting to Rs.83,000 crores across India, which haven’t been claimed by the persons who own it in spite of the account becoming dormant.

Things to do to take care of in case of the sudden death of the family member while Home loans have been taken

  • Take a life insurance policy to protect the family:

The home loan borrower should take a life insurance policy amounting to a higher value so that while repaying home loans if sudden death happens of the borrower, the family members should not lose their own house to the bank. Instead, whatever the amount the borrower’s family gets a life insurance amount, the life insurance company can claim the amount of the policy, and the family members can pay the pending amount from the claim settlement received from the life insurance company.

  • Make the family members aware of all the savings:

The borrower should inform their spouse about the financial investments being made and where all the money has been invested like stocks, mutual funds, EPF, PPF, insurance policy. etc. So that there should not be any un-claimed value which the family members may not be aware of & thus may not withdraw in case of the sudden death of the borrowers.

  • Keep hefty savings for the protection of the family:

The borrower should keep a sufficient amount of funds in savings in a bank account and various financial instruments for the safety of the family members. The borrower should reduce the spending carelessly while the home loans are being taken as it can help the borrower increase maximum savings from whatever the salary is being received.

  • Make maximum down-payment as far as possible:

The lender’s interest amount is high as the amount is calculated on a compounded annual basis. Thus to reduce the value of repayment, the borrower should reduce the liability on himself and try to do maximum down-payment so that in case any unfortunate incident happens in case of the borrower. In that case, there should not be any excessive burden of the repayment on the borrower’s family.

  • Do regular medical health checkups:

The borrower should do regular health checkups, especially if the borrower’s age is more than 45+ years. The early diagnostics of the health issues can help save the borrower from protecting themselves from the dangerous health problems internally and can cure more early. Late diagnostics of the health problems can cause many complications in the treatment, and chances of being fatal increase.

The above points should be taken care-off while taking home loans to protect the family members from unfortunate incidents. The borrowers should try to make maximum savings and reduce unnecessary expenses while taking loans. Proper financial planning can help the borrower protect the family from facing any financial issues and also protect the purchased home.

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Learn How to Control Your Budget: Following a Budget Made Easy

It doesn’t matter whether you’re a spendthrift or a penny-pincher; having is necessary if you want to protect your future, control your cash flow, and create the kind of lifestyle you want. Designing and planning one is easy; following a budget is the real challenge. For some people, following a budget can be challenging, but there are ways that could make following a budget easy for anyone, whatever the amount on their paycheck.

Get Into the Practice of Saving Money

Initially, it won’t be easy for you to get into the habit of saving money but worry not. Once you get used to putting your money aside (for later use), you’ll realize that it isn’t all that bad. The fundamental key of budgeting is to help you keep more of your money.

Teach yourself to think critically and evaluate the need for any product before buying anything that seems intriguing. It is advisable to keep a specific percentage of your income that goes into savings every time you receive your paycheck. Make sure to do this before you spend a dime from your real income.

Set Your Target

If you want to adhere to budgeting, you need to be chasing something tangible. You can’t just aim only at ‘I have to save money.’ Instead, you must set a goal you want to achieve. This can range from buying a car to traveling or buying a house, basically anything you desire.

You could be saving money for a mortgage loan to build your dream house. Or holding a certain amount of money for the time you retire at 50 or 60. These help you visualize your goals, so you know exactly how much you want to save. You see, setting a specific and inspiring goal will keep you motivated with your budget. Keep your goals specific, measurable, and inspiring to transform your budget into a road map to approach a stable financial destination.

Have a Safety Net

Accidents happen suddenly, so you should always be prepared for the worst. An emergency might include a lot of expenses, so an emergency fund can help you in such situations when you don’t have insurance or a health policy that covers your injury. Furthermore, with such a safety net you’ll remain stress-free and have something to fall back on even in dire times.

Select Your Budgeting Method

Decide on a method to budget your spending and expenses in an organized way. This will help you remember what you spent, your cashflow, what you look forward to buy, and how much you aim to save for the current month.

You can use conventional methods like an excel sheet and a handwritten budget or go for an online app. Whatever you choose, stick to it for a long time and try to choose a budgeting philosophy to get yourself into the habit of budgeting.

Budget for Leisure! 

Do not classify budgeting as a restriction on your life; consider your budget as something you do for fun instead. If you limit yourself too much with a budget, you will only resent it. Instead, try to leave room to have some fun for yourself. Budgeting is by no means something that makes your life unbearable.

You could set aside some money for a trip, an expensive item, a car, or even a front-row ticket to a show or sports game. You might think these are budget busters, but saving for a one-time splurge could compel many people to save more than they usually do. Set aside something for that luxurious expense and your regular savings, and you will find it easier to set aside money when you know there’s a reward waiting for you once you reach your goal.

Remember to put aside a reasonable amount of money for yourself to spend on anything you desire. This will help you to attain joy and satisfaction along with your budgeting endeavors. When you spend within your fun money budget, you will remain stress-free and spend money while not harming your financial future in doing so.

Bottom Line

Life is filled with needs, wants and expenses that could arise at anytime and cost you money. Your budget acts as your financial buffer, so regardless of where you are in life, keeping to a budget is the best safety net you could create for yourself. Cut your expenses, log every purchase, and keep track of your financial progress to allocate smartly. It willgive you freedom, financial control, and a stress-free life.

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What’s the History Behind the Mysterious Black Lightsaber? 

You’re probably familiar with the green, red, and blue lightsabers made popular by the Star Wars films, but did you know that there was also a black lightsaber?

This blade might have a sinister look, but it hasn’t always been a weapon of evil. Keep reading to learn more about the history of the darkest and most storied lightsaber in all the galaxy.

A Dark Design

The black lightsaber was created with a distinctly Mandalorian look. This blade features sharp geometric edges and a style that would be at home alongside any Mandalorian’s armor. The blade has more unique properties than its design and color.

The crystal that powers the blade channels the emotional energy of the wielder and can even start sparking with electricity when emotions run high. This lightsaber also has a higher pitched sound than your standard blade.

The most intriguing property is its ability to parry regular lightsabers. The black bade seems to draw in other lightsabers and deflect their attacks!

This lightsaber was originally intended to be just another vibroblade, but Lucas made the decision to create something that would really stand out instead.

So, who made this potent weapon?

The First Mandalorian Jedi

One of the most historic members of the ancient Jedi order was Tarre Vizsla. Tarre was the first ever Mandalorian to become a member of the Jedi. In order to mark the occasion, Tarre created a unique lightsaber that spoke to their Mandalorian heritage.

The lightsaber would be held at the Jedi Temple for generations to come. Kept as a mere relic of the past. However, the Mandalorians were not content to just sit there and let a piece of their history sit in someone else’s museum.

Theft, Leadership, and Honor

The black lightsaber is now infamous for how often it trades hands. In proper Mandalorian fashion, it is said that the only legitimate way to claim the Darksaber is to defeat its current owner in combat.

During the fall of the Old Republic, the House Vizsla broke into the Jedi Temple and reclaimed their relic.

It is said that this lightsaber brings honor to the Mandalorians and helps the House Vizsla hold their leadership over the rest of the Mandalorians.

With the Darksaber in hand, anyone can become a powerful master of lightsaber combat. They just need to have the strength and cunning to hang on to it when the next challenger approaches!

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How to identify the Royal Panda Sportsbook for sports wagering?

According to Professional, Royal Panda is a reliable gaming platform. It has so far won many awards related by sports wagering and gaming. Royal Panda site knows very well how to impress their clients, they launch the same type of games that attract clients. Each of their games is developed by an experienced developer.

If India’s sports wagons hesitate to trust Royal Panda, then let me tell them that Royal Panda bookmarker removes the latest news and events related to sports wagering, which is absolutely true, you can do any kind of sports wagering on it. Royal Panda is a licensed bookmarker not just by the Indian government but also by the government of all the countries of the world.

Create an account at Royal Panda

To complete your registration, you must first click on the Join Now option which will speak to you to fill up some personal information. But before you, it is very important to know the limits of Royal Panda’s services such as- its games, royal Panda bonus code, jackpots, prizes, sports wagering odds, live match, live streaming  etc. You will find all kinds of information related to Royal Panda on its first page.

Place your wager at Royal Panda

Once you have created an account, you become its member. This sportsbook provides you with updates of every live event, through which you can place your first claim on the match and change your claim according to the state of the match. To place a claim you should focus your wager slip and decide on a wagering system and stake size. Choosing the right odds is very important for wagering on a sports match.

Royal Panda is licensed& secure

Royal Panda takes more care of the safety of its customers, here you can claim the matches on football, cricket, horse riding, auto racing, basketball, etc. with great safety. The site bases its authenticity on an extended verification SSL certificate issued by Internet security company Komodo. Royal Panda sites promote themselves in various countries. They do not allow your personal data to be leaked because they have stellar 256-bit encryption which takes full guarantee to keep your data safe.

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Summer Travel Must-Haves

Packing for that vacation? We’ve got you covered – from beauty products that will keep you looking fresh in the heat to the coolest iPod soundtracks for those long days lounging in the sun, include these trending essentials in your suitcase and be the chicest Fashionista on the beach!

The Must-Have Accessory

Bright leathers are hot for summer 2014. So why not extend the trend to your bag? These petite clutches transition effortlessly from day to night. Pair with a crisp white bikini, oversized shades and a floral kaftan for a day at the beach or add a pop of colour to a classic LBD in the evening. Better still, once winter rolls around again they’ll make super cute makeup bags. We’ll take one in every colour, thanks!

The Must-Have Nail Polish

Chipped nails are a big Fashionista No-No, but walking around in those gorgeous sandals for days on end can really take its toll on our toes. Luckily, OPI Gel Colour is famous for its long-lasting results, so you won’t have to worry about reapplying during your trip! Primary colours and legobrights were spotted on the SS14 runways of Burberry and Peter Som, so these mouth-watering shades from OPI’s new Brazil Collection will make the perfect addition to your summer ensembles. Head to toe perfection!

The Must-Have Hair Product

Jealous of the long glossy locks that Alessandra Ambrosio and Whitney Port were sporting at Coachella? Us too! Sun, sea and chlorine can damage our hair, making it even harder to achieve Rapunzel lengths. This year, forget topical products and look after your hair from the inside with revolutionary Soya Protein Capsules by Phillip Kingsley. These vegetarian friendly supplements provide you with all the nutrients needed for glossy, healthy hair and the perfect complement to your favourite old RayBan sunglasses.

The Must-Have Perfume

At Mesofashionista.com, we just love a fragrance that automatically gets us in the summery mood! This is definitely the case with Victor & Rolf’s latest perfume, Flowerbomb. Notes of rose and orchid leave us positively uplifted, and the cute bottle even matches our pastel wardrobe staples. Result!

The Must-Have Beach Read

Following the success of her first book Treasure Yourself, supermodel and all round fashion goddess Miranda Kerr is set to release her second novel Empower Yourself this summer. Filled with positive affirmations and power thoughts for young women, Empower Yourself is the perfect feel good read guaranteed to have you feeling strong, confident and beautiful.

The Must-Have Summer Soundtrack

Iconic London band Coldplay release their new album Ghost Stories on May 19, just in time for summer! Reinventing their sound once again, the dreamy and atmospheric tunes make this the must-have album for poolside relaxation.

The Must Have Makeup

Pop icon Santigold has teamed up with legendary make up brand Smashbox to create what can only be described as their most innovative makeup collection yet. Our favourite? We’re torn between the Swarovski crystal lipstick ring and layer-able lip glosses – Um, genius!

Voilà! Packing has never been so easy – pop these summertime essentials in your beach bag to satisfy your fashion cravings whilst your away and feel every inch the fashionista. Enjoy the sunshine!

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