You can build your credit score and get tax benefit, but defaulting will make life difficult.

If the credit card is not used judiciously, it can cause havoc with one's personal finances, warns Sarbajeet K Sen.

'It reduces the immediate financial strain on your family and helps you take control of your finances without being dependent on your parents.'

After the rationalisation and categorisation of mutual fund schemes undertaken by the Sebi in October 2017, overnight funds have emerged as a distinct category.

NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.

Secured credit cards offer benefits similar to regular credit cards and hence an applicant should try and get a card with lower fees and more features, suggests Sarbajeet K Sen.

Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.

While buying a term plan, do check how much money will be paid in lumpsum and how much of the money will come to the surviving family as a regular payout, suggests Sarbajeet K Sen.

What are the various insurance covers in your portfolio? Are they adequate to protect you and your dear ones in the event of your demise? Have you missed out on any of the insurance covers?

Investors should consider debt mutual funds, banks fixed deposits or high-rated corporate debt instruments.