Alternatives for ET Money, which app do you use for mutual fund or stock investing
- Thread starter Renegade
- Start date
raksrules
Oracle
If you are inferring that the financial talk is going over the head and since I have no idea what your age is, I would recommend you start getting acquainted with finance things. It helps you only and finance is something that you have to take care of your money. No one else will as they will just try to siphon money from you.
I tell my wife to know basics too as my argument is, if anything happens to her, I can still have someone cook for me and kids but if something happens to me, no one will help her with finance and people will try to take advantage and try to get our money. (I know this sounds morbid) .
rsaeon
Innovator
My financial literacy starts and ends with understanding that I have none. I'm about the same age as you — just without any assets or investments. Have a lot of catching up to do. Spent most of my younger years travelling more than I needed to on a salary that was paid out in cash in countries with no income tax. I didn't have or need a bank account, until I returned here five years ago. Didn't even have any ID other than passport because I was out of the country at 18. It was a little funny, getting a drivers license here in my late 30s.
My friends circle from then/there are the same, no investments, payday means dining out with the better three-quarter, living in a rental in the same city they were born in.
Friends from my schooling years in India are on a completely different level — they've either bought or are finishing up construction on a second residence (farmhouse). They just stare blankly at me when I mention that I bought a robot vaccum on a two year no-cost emi in the last Amazon sale.
I know that I'm at a disadvantage but I don't think it's insurmountable. A lot of what is discussed here and in other threads has given me things to look into and learn about.
Grateful, and following.
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Kevin Lane
Galvanizer
That's a good starting point I guess...
I am sure the escapades you had were totally worth it!
honest1
Herald
Nothing of that sort. Before calling it as scam, you need to first understand the whole process of it. When you make payment on these aggregator platforms like Groww/etc, the payment first goes escrow account of these platforms and then to BSE Star platform and from there, it goes to the bank account of respective AMCs. Now if the amount is debited from your account at 12:45 PM, that doesnt mean that it has reached to the bank account of the AMC and hence, you were not alloted NAV of the same date.
Further, the mail which you have received clearly mention the same that if you account is debited at one particular time, that doesnt mean that its reached to the AMC's bank account!
This is one of the reason that HNIs and Institutions, who invests Lacs or Crs of Rs and are particular about when they are getting the allotment, directly transfers the funds to the AMC's bank account and get same day NAV.
Hope its clear now !
nitin_g3
Herald
I do get for all, even the ones which I haven't touched in years.
Edit: Misread that. It maybe true, haven't tested it actually. I get every month probably because of sip.
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raksrules
Oracle
Exact setup and works beautifully. You have total control on how you want to track your investments and tweak anything and eveything as needed.
Yes there is initial setup needed but after that it is just punching monthly changes to invested value / units and sheet takes care of eveything else.
Can anybody using MFCentral ans below Q:
1) Do they allot same day NAV if payment is done through netbanking before cutoff, say 1 pm ?
2) 'XYZ' has single holder folio/account with them, how to create another folio/account 'XYZ + ABC' (Joint holders) to invest in a new, previously never invested AMC ?
MFU says you can create as per (2), but could not find such option on MFC.
1) Do they allot same day NAV if payment is done through netbanking before cutoff, say 1 pm ?
2) 'XYZ' has single holder folio/account with them, how to create another folio/account 'XYZ + ABC' (Joint holders) to invest in a new, previously never invested AMC ?
MFU says you can create as per (2), but could not find such option on MFC.
subhamsingh
Contributor
