'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'

Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.

Personal accident cover should be purchased by everyone, irrespective of age, occupation or health condition, as one does not know when an accident could occur, causing hardship to the family.

Most traditional health insurance plans didn't cover the cost of such treatments earlier, but several recently launched policies do offer such coverage -- some as a rider, and a few as standalone covers, points out Sarbajeet K Sen.

To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.

Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.

'Funds based on this theme offer socially conscious investors an option to invest in a portfolio that is aligned to their beliefs.'

If you are buying a bond to cater to your regular income needs, check the interest distribution schedule.

Despite the current bout of volatility, debt-oriented hybrid funds remain well suited for risk-averse investors.

Buying or selling securities based on rumours about expected changes in tax rates or sectoral sops can backfire, advises Sarbajeet K Sen.

A home loan is a long-term contract, so do shop around before signing on the dotted line, advises Sarbajeet K Sen.

Stocks offering attractive dividends contain downside better when the markets correct, advises Sarbajeet K Sen.

One of the biggest advantages of index funds and ETFs is their low cost, points out Sarbajeet K Sen.

Investors need to get the timing of entry and exit right to make money in thematic and sector funds, suggests Sarbajeet K Sen.

While mid-cap and small-cap funds have given category average returns of 73.3 per cent and 89.8 per cent respectively over the past year, large-cap funds' returns have been lower at 53.9 per cent, points out Sarbajeet K Sen.

A balance transfer to another lender entails substantial cost and time.

Unless you are very knowledgeable, seek expert advice before making such a high-ticket investment, cautions Sarbajeet K Sen.

Consumption is among the most diversified and sought-after themes in Indian equities. Over the past five years, consumption theme funds have given an annualised category average return of 15.17 per cent, according to the data from Value Research. But this theme has been affected by the Covid-19 pandemic, which impacted jobs and livelihood.

Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.

MMFs are a good option for the current environment, observes Sarbajeet K Sen.