Let's Talk Money with Monika Halan

Written by: Monika Halan
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  • Summary

  • Let's Talk Money is your guide to financial stability and freedom. Join Monika Halan, a trusted financial expert, as she delves into a wide array of topics each week. From tackling debt to making friends with the stock market, from gold to mutual funds, Monika's insights are your compass to financial wellness. But that's not all! Monika's here to answer your money questions. Send them in, and she'll help you make informed decisions. It's time to take control of your financial destiny with Monika Halan. So, Let’s Talk Money!
    Monika Halan
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Economics
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Episodes
  • Will Your Credit Card Unpaid Dues Cost More Now?

    Will Your Credit Card Unpaid Dues Cost More Now?
    Dec 26 2024
    In this episode, Monika discusses a recent Supreme Court judgment that impacts credit card holders, overturning a 2008 ruling by the National Consumer Disputes Redressal Commission (NCDRC) that capped interest rates on unpaid credit card dues at 30% per year. This decision now allows banks to set higher rates, arguing that credit cards, being unsecured loans, necessitate such charges. Monika highlights the pitfalls for consumers, such as interest being levied on the full bill amount if partial payments are made and the significant cost of revolving credit card debt. She advises listeners to use credit cards wisely to avoid excessive interest rates of 36-49% annually and warns against accumulating debt that could take years to pay off. The conversation moves to practical financial advice for listeners. Monika shares essential tips to avoid credit card debt traps, emphasizing timely payments, limiting the number of cards, and breaking fixed deposits if necessary to pay off high-interest debt. She underscores the importance of thoughtful financial planning to steer clear of costly mistakes. Monika then explains the role of benchmarks in evaluating investments. Just as the perception of height varies by country, investment returns need context to be meaningful. Benchmarks provide a standard for comparing performance, showing if an investment outperforms or underperforms the market average. Monika stresses that understanding and using appropriate benchmarks is crucial for making informed investment choices, as it puts returns in the right perspective. Listener queries focus on practical financial challenges. Nagendra from Bengaluru seeks advice on managing risks and tax implications of company ESOPs, exploring diversification strategies. Hiren, a retiree, asks whether to withdraw additional income from mutual funds or PPF to meet leisure expenses. Sukhjeevan from the U.S. seeks guidance on minimizing losses from a mis-sold whole life insurance plan and reallocating funds into better investments. Chapters: (00:33 - 4:05) Higher credit card interest rates and how to manage credit card debt (4:06 - 6:34) Understanding benchmarks and their importance in portfolio performance (6:38 - 9:31) Managing ESOPs: Balancing risks and tax implications (9:33 - 11:44) Retirement planning: Deciding between PPF and mutual funds for withdrawals (11:45 - 13:20) Dealing with dud insurance policies: Max Life and other mis-sold products If you have financial questions that you’d like answers for, please email us at ⁠mailme@monikahalan.com⁠ Monika’s book on basic money management ⁠⁠⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-money-english/⁠⁠⁠⁠⁠⁠⁠⁠ Monika’s book on mutual funds ⁠⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-mutual-funds/⁠⁠⁠⁠⁠⁠⁠ Monika’s workbook on recording your financial life ⁠⁠⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-legacy/⁠⁠⁠⁠⁠⁠⁠⁠ Calculators ⁠⁠⁠⁠⁠⁠⁠⁠https://investor.sebi.gov.in/calculators/index.html⁠⁠⁠⁠⁠⁠⁠⁠ You can find Monika on her social media @monikahalan. Twitter ⁠⁠⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠⁠⁠ Instagram ⁠⁠⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠⁠⁠ Facebook ⁠⁠⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn ⁠⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠⁠ Production House: ⁠⁠⁠⁠⁠⁠⁠www.inoutcreatives.com⁠⁠⁠⁠⁠⁠⁠ Production Assistant:⁠⁠⁠⁠⁠⁠⁠ Anshika Gogoi⁠⁠⁠⁠
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    14 mins
  • Does your health insurance company pay its claims?

    Does your health insurance company pay its claims?
    Dec 19 2024
    In this episode, Monika explores the troubling issue of health insurance companies denying claims, a problem that has taken center stage globally and in India. A shocking incident in the U.S. on December 4, 2024, saw Brian Thompson, CEO of UnitedHealthcare, America’s largest health insurer, shot dead as he walked to an investor conference. Reports suggest the attack may be linked to mounting public frustration over insurers' tactics to “deny, delay, and depose” claims to boost profits, with UnitedHealthcare rejecting 32% of claims. Shifting focus to India, Monika highlights worrying trends documented by the Insurance Brokers Association of India. Public sector insurers perform far better than private firms, with New India Assurance paying 98.74% of claim amounts, while Star Health lags behind at just 54.61%. Disparities in claim metrics—by number of policies versus amounts—indicate some insurers may settle low-value claims quickly while dragging their feet on higher payouts. Loopholes in fine print and a lack of transparency add to policyholders' struggles. The conversation emphasizes the challenges of a three-party system involving insurers, hospitals, and policyholders. Unregulated hospitals often inflate bills or unfairly charge patients, further complicating matters. Monika stresses the urgent need for IRDAI to improve transparency, mandate better disclosure, and ensure smooth portability for customers switching insurers. Until then, buyers must remain vigilant: analyze claims data, compare insurers, and port policies with poor claims records before renewal. Listener queries focus on practical financial challenges. Abhishek asks about the difference between holding mutual fund units in a demat account versus a statement of account, seeking clarity on costs, flexibility, and their respective pros and cons. Nakaashi from Mumbai raises concerns about his retired parents' financial portfolio, exploring how to balance medical expenses, inflation-proof investments, and their desire to leave an inheritance. Purva from Pune wants to know how to plan portfolio exits during market corrections, focusing on asset allocation and strategies for rebalancing investments effectively. Chapters: (0:33 - 5:48) RBI's decision on interest rates and what it means for growth (5:50 - 7:13) Understanding bond duration and interest rate risks (7:18 - 11:22) Should you invest in ultra-short-term funds for 6-month goals? (11:24 - 14:48) Mutual funds vs. NPS Vatsalya: Which is better for gifting money to your daughters? (14:50 - 16:18) Dealing with FDs and mutual funds when there’s no nominee: What to do ⁠https://tradingeconomics.com/india/interest-rate⁠ ⁠https://npstrust.org.in/sites/default/files/inline-files/nps_vatsalya_borchure_marged.pdf⁠ If you have financial questions that you’d like answers for, please email us at ⁠mailme@monikahalan.com⁠ Monika’s book on basic money management ⁠⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-money-english/⁠⁠⁠⁠⁠⁠⁠ Monika’s book on mutual funds ⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-mutual-funds/⁠⁠⁠⁠⁠⁠ Monika’s workbook on recording your financial life ⁠⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-legacy/⁠⁠⁠⁠⁠⁠⁠ Calculators ⁠⁠⁠⁠⁠⁠⁠https://investor.sebi.gov.in/calculators/index.html⁠⁠⁠⁠⁠⁠⁠ You can find Monika on her social media @monikahalan. Twitter ⁠⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠⁠ Instagram ⁠⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠⁠ Facebook ⁠⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠⁠ LinkedIn ⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠ Production House: ⁠⁠⁠⁠⁠⁠www.inoutcreatives.com⁠⁠⁠⁠⁠⁠ Production Assistant:⁠⁠⁠⁠⁠⁠ Anshika Gogoi⁠⁠⁠
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    18 mins
  • How to Redeem your Mutual Funds

    How to Redeem your Mutual Funds
    Dec 13 2024
    In this episode, Monika delves into the RBI’s decision to maintain the repo rate at 6.5% despite market expectations of a 25 basis point cut. She explains the repo rate’s role as the interest rate at which the RBI lends to banks, influencing liquidity and inflation. The decision stems from the central bank's inflation-targeting mandate, which restricts easing rates amidst high inflation. However, the RBI cut the Cash Reserve Ratio (CRR) to 4%, injecting ₹1.16 lakh crore into the banking system. Monika further discusses the rationale behind the RBI’s cautious approach. While core inflation remains within target, persistently high food inflation limits the scope for rate cuts. The CRR reduction is seen as a move to boost liquidity, with many viewing it as a precursor to a potential rate cut in early 2025. Lower growth forecasts and rising inflation add complexity to the economic outlook, reflecting the challenges of balancing growth and stability. The episode also covers the concept of bond duration, a critical measure of interest rate risk in debt instruments. Monika explains how duration quantifies the sensitivity of bond prices to interest rate changes. Longer durations mean greater risk as bond prices drop sharply when rates rise. This segment sheds light on how advisors evaluate debt funds based on duration to align risk with investors’ goals, ensuring informed decision-making in volatile markets. Listener queries focus on practical financial challenges. Miranda seeks clarity on mutual fund redemptions, comparing lump-sum investments and SIPs for short-term goals, and understanding the first-in-first-out rule for selling units. Nishant, a PSU employee, explores strategies to invest ₹18 lakh gifted by grandparents for his daughters’ future while weighing the merits of NPS Vatsalya versus index funds. Finally, Bunti seeks guidance on claiming bank FDs without a nominee, underscoring the importance of updated nominations and succession planning. Chapters: (0:33 - 5:48) RBI's decision on interest rates and what it means for growth (5:50 - 7:13) Understanding bond duration and interest rate risks (7:18 - 11:22) Should you invest in ultra-short-term funds for 6-month goals? (11:24 - 14:48) Mutual funds vs. NPS Vatsalya: Which is better for gifting money to your daughters? (14:50 - 16:18) Dealing with FDs and mutual funds when there’s no nominee: What to do https://tradingeconomics.com/india/interest-rate https://npstrust.org.in/sites/default/files/inline-files/nps_vatsalya_borchure_marged.pdf If you have financial questions that you’d like answers for, please email us at ⁠mailme@monikahalan.com⁠ Monika’s book on basic money management ⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-money-english/⁠⁠⁠⁠⁠⁠ Monika’s book on mutual funds ⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-mutual-funds/⁠⁠⁠⁠⁠ Monika’s workbook on recording your financial life ⁠⁠⁠⁠⁠⁠https://www.monikahalan.com/lets-talk-legacy/⁠⁠⁠⁠⁠⁠ Calculators ⁠⁠⁠⁠⁠⁠https://investor.sebi.gov.in/calculators/index.html⁠⁠⁠⁠⁠⁠ You can find Monika on her social media @monikahalan. Twitter ⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠ Instagram ⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠ Facebook ⁠⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠⁠ LinkedIn ⁠⁠⁠⁠⁠@MonikaHalan⁠⁠⁠⁠⁠ Production House: ⁠⁠⁠⁠⁠www.inoutcreatives.com⁠⁠⁠⁠⁠ Production Assistant:⁠⁠⁠⁠⁠ Anshika Gogoi⁠⁠⁠
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    17 mins

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Sensible Money Advice

This is the most sensible and informative Money Advice you can get. Also please read or listen to the books. Let's Talk money and Let's talk Mutual funds. These books should be a must read for any group thar deals with money. whether you are a student, are salaried, an entrepreneur or retired, These Podcasts and books definitely have something for you 😊

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