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Budgeting is the cornerstone of financial planning; building this habit as a student can help your child in the long run. If you are planning to send your child abroad or to a different city to pursue their higher education, then here is an article you must share on how to save money every month as a student with your child and your friends! 8 tips to save money as a student  The public image of a student is always of a broke kid struggling to make ends meet. Most kids fail to save every month without budgeting, poor planning, and making impulse decisions. To avoid falling into this trap, all you and your child needs is a monthly budget. Let's look at some easy tips that your child can use to save money every month. Monthly Budget: Having a budget and sticking to it is extremely important as a student. If you give Rs. 20,000 to your child for monthly expenses, then make sure they prioritize their bills and needs above everything else. The amount left can go towards luxuries, outings, savings, or investing. This will not only help them learn the importance of spending but also build a great habit of keeping track of their expenditures.    Crisis Funds: We live in unstable times where an emergency can consume all your family savings. You should create a crisis fund for your child to prepare for these emergencies. Please encourage them to put some money towards this fund every month. This will keep them secure for a few days or months, depending on the amount they have saved.    Shared Accommodation: Living alone can be fun, but it is also costly. A secure way to save money as a student is to opt for sharing accommodation or on-campus dorms so your child can save money and use it for other purposes.    Borrowed Books: Borrowing college books is another way to save money as a student every month. College books can be heavy on the pocket, and your child may have to buy different books for classes/courses for a short while, like 6 –7 months. So, to save money, it's better to borrow these books from your seniors or the library rather than spending thousands of rupees on a single book.    Part-time Jobs: Many countries allow students to work part-time during the semester to pay for their daily expenses. This is a brilliant way to make money as a student. If your child is studying abroad, taking a part-time job can help them become more independent and disciplined. Please encourage them to find employment in their field.    Homemade food: A sure-shot way to save money as a student is to eat out less and make homemade food. It is a cheap alternative as restaurant food can be expensive, especially in foreign countries.    Student Discounts: Brands like Adidas, Spotify, Netflix, and many more companies offer student discounts. All you need is to provide a student ID to avail the benefits and save money as a student!     Investing: The best tip for saving money every month as a student is to invest a small amount in your chosen fund. Whether it's Rs. 100 or 500, start investing this amount monthly, and watch the funds grow to new heights. Many funds have SIPs starting as low as Rs. 100 to encourage new investors to enter the market and reap its benefits in the long run.   Consult an expert advisor to get the right plan TALK TO AN EXPERT FAQ How to save money as a student in India? The best way to save money as a student in India is to create a monthly budget and follow it regularly. Another way to save is to develop skills that you can use to generate an income or get a part-time job to cover your daily expenses. Try to follow the investment rule of 50-30-20. 50% of your income should go towards your needs and paying bills, 30% towards wants and luxuries, and 20% should be used for investing and saving for the future. How can a teenager save money in India?  There are many ways to become financially independent teenagers in India. You can save money by avoiding EMIs, and impulse purchases like buying the new iPhone and taking up part-time jobs or paid internships to gain better skills. As a teenager, saving money and building your skills are better.  Is saving Rs. 1000 a month as a student good? Saving any amount is excellent for a student. Try to invest a portion of this money towards funds regularly to ensure you reap the benefits of compounding. You can start investing with as little as Rs. 100 or 500!    These tips on saving money every month as a student can help you instill a good habit of saving and investing in your child from a young age. Help them learn the value of money and encourage them to be careful with their expenses.  

Digital Gold is a great way to invest in gold without having to block large sums of capital that you need when investing in physical gold. It is easy to invest in, easy to store, and easy to sell when you want your money back.  Investing in gold as an asset class has been a key factor in traditional portfolios. But the rising gold prices have made the minimum investment in this asset class quite steep. This is one of the reasons why many young investors are unable to invest in this class. Why invest in Digital Gold?  Here are some benefits of investing in digital gold:   Invest in small amounts and quantities Kept safe in secured lockers Easy to buy, sell, monitor All investment details on one screen DigiGold investing at the click of a button Start investing small amounts today Today one gram of gold costs around Rs. 5200. Of course, with gold prices constantly rising, it becomes challenging for investors to put in huge blocks of money required today to purchase even 10 gms of gold. To help investors continue investing limited funds in this precious commodity, Digital Gold is a great alternative.  You can start by investing Rs.100 or more every month and increase the amount whenever you want.   Buy according to value or weight With the Digital Gold option, you can instantly buy DigiGold from Rs. 10 onwards. You can choose to buy DigiGold by its value in rupees or define the quantity in gms. You also get to see the live rate of gold, which refreshes every 5 minutes. Selling digital gold is also easy and hassle-free. Click here to start your digital gold investment! Why invest in Digital Gold on the EduFund App? EduFund allows you to buy and sell digital gold from the comfort of your home. All you need to do is download the App and start saving in gold at just Rs. 10!  You can also get amazing offers and rewards.   1. User- Friendly interface The EduFund DigiGold interface is extremely simple to understand and easy to manage and navigate. On a single screen, you get to see the amount invested, the current value of your investment, and the % returns on the same. You can also check the quantity of gold you hold in your locker. 2. Stored safely for you The DigiGold you purchase is kept safe in secured lockers at no extra cost to you. And you can buy and sell this gold easily from the convenience of your app, simply at the click of a button. So there are no certificates to maintain, and no worry about the purity of your gold, as all DigiGold traded on this app is 99.9% purity certified. You can check on your investments regularly and if you decide to sell your DigiGold, your physical assets will be liquidated and you will get your money in less than 48 hours. That is as quick as selling your mutual fund holdings! Consult an expert advisor to get the right plan TALK TO AN EXPERT

With the current increase in land costs, construction material prices, and labor charges, it is becoming difficult for middle-class families to fulfill their dream of living in their own homes.  Tips to save money on construction costs 1. Hire a good architect and contractor Although working with a qualified architect and builder may cost you money, overall building expenses will be reduced significantly. In reality, a competent architect may assist you in maximizing the space at hand while minimizing material expenses and ongoing maintenance expenditures. The bulk of cost overruns is the result of needless construction process delays.  Using a qualified contractor who strictly adheres to deadlines and completes the project on time is simple yet efficient cost-saving advice. For ideas on reputable architects and contractors, speak with your friends and family who have just built their homes. They can provide you with some great suggestions based on their own experiences. Once you have chosen a contractor or architect, the following step is to draught a detailed agreement. Make sure this agreement is clear about everything, including who will receive the building supplies, the exact costs, the project completion and payment dates, and the repercussions of any delays.  Contractor fees typically range from 8 to 12% of the total cost of constructing a home. Even if it would seem attractive to try to manage the building yourself to save money, bear in mind that you will need to pay subcontractors or supervisors, so you can't save the entire amount. Choose a simple house plan, nonetheless, if you do have the time to manage it yourself. 2. Hire specialists who are qualified and experienced Whether you are looking for building builders, architects, or interior designers, it is always a good idea to choose qualified and experienced experts who have been in the business long enough to be highly competent and aware of the best and most recent techniques in the market. 3. Choose the right plot for construction  The plot level is essential when it comes to building a house, first and foremost. Choose a plot of land that is both even and level with the road. If the plot is uneven, rocky, or much lower than the road level on the front, the cost of the construction as a whole might increase. This is because leveling the ground will require additional materials or equipment. 4. Purchase your building materials It might be expensive for a subcontractor to cover many projects' material costs at once. Consider offering to buy timber, wiring, or siding directly from the supplier by the specifications given by the subcontractor and paying the supplier in full as you will be charged for these items otherwise. If someone else purchases the materials, subcontractors could be prepared to slightly lower their prices. Additionally, suppliers could give a little discount for paying in advance. 5. Compare shops to get the best bargains The more effort and time you put into price comparison shopping, the more probable it is that you will find name-brand finishes and appliances at deeply discounted costs. Purchasing inexpensive floor models or scratch-and-dent appliances, buying discounted floor models or scratch-and-dent appliances, and keeping a watch on online as well as offline markets for used or reused things are some top money-saving tips. Additionally, you might be able to haggle over rates. Also, keep in mind to benefit from this, you don't need to be a skilled builder. When you research on your own you might be more inventive in the resources you locate. A little creativity, hard work, and being a shrewd online and offline materials scavenger may all help you build the house of your dreams.  6. Do not make changes after construction starts Sometimes after approving a plan before building begins, individuals decide to revise it at the last minute. This is a significant factor in the rising cost of building. Avoid doing this unless required. 7. Make use of the latest technology The advent of technology has altered the realm of real estate development in several ways. Don't be afraid to embrace contemporary technology while planning your own home or place of business because it may help you save time and money while lowering the possibility of human mistakes. Additional read: How to save money to buy a house? How to afford your dream house?  You can invest in mutual funds for the long term using SIP. You can open a SIP just to pay the down payment on your mortgage. Depending on the type of fund you choose and the length of the investment, you may easily earn a return of 10% to 18%. Get in touch with our experts at EduFund, and they will help you decide on the best course of action for investing. To get started investing, download the EduFund app and set up an account from the comfort of your home with no fees or difficulty.  If you're thinking of building a house, a little forethought, some extra work, and the use of clever alternatives might significantly reduce the cost of the home's construction. However, it must be made clear that to save some extra money, the strength and caliber of the input materials cannot be sacrificed. Consult an expert advisor to get the right plan TALK TO AN EXPERT

It's vital to save money if you want to fulfill your or your child’s ambitions. While some may be fortunate enough to receive a monthly paycheck that is sufficient to fulfill their needs and aspirations, many are forced to scale back their goals after barely managing to pay their bills. How can you save money from your salary every month 1. Make a monthly budget plan The key to saving money is to keep track of your spending and limit your costs. By separating your costs into important areas, create a monthly budget plan and follow it. Since the budget will help you avoid going over your spending limit, you will have extra money to save down each month from your income. 2. Avoid credit cards or personal loans Avoid utilizing credit cards and personal loans, even when they are freely accessible. These two approaches both lead to steadily increasing debt that finally prevents you from having any control over your monthly spending. Use UPI as often as you can to make payments because there are no transaction fees involved. 3. Avoid making fancy purchases Young people typically want to dine outside, watch a movie, shop online, and go to the mall. But are these costs actually necessary? It is quite possible to live without overindulging in these as they are luxury. Depending on your budget, place a limit on these pleasures. 15% of your salary is the generally advised maximum for fun and pleasure expenditure. Make careful to adhere to this cap at all costs. 4. Low-cost entertainment ideas Another area where you might be able to save money is entertainment costs. You might be able to reduce your movie expenses with the abundance of subscription options accessible, such as Amazon Prime, Cable, and Netflix. Consider indulging in outdoor activities like hiking or camping as an alternative to spending money. Additionally, having fun shouldn't be expensive. As an alternative to going out to eat, think about hosting a house party or potluck dinner. 5. Track your spending We don't stick to our budget, which is one reason why we spend too much money. You must accept responsibility for your actions if you wind up spending twice as much on everyday meals as you expected. You'll be able to see how your pay is being spent if you keep track of your expenditures. Study your expenditures over the last several months before setting aside money from your salary. We frequently observe that there are districts that we might eliminate to concentrate on conserving. 6. Take care of debts As soon as you start working, you are most likely to be subject to debt bondage. When you have fewer commitments and more access to credit card purchases, it might be difficult to resist the temptations toward uncontrolled consumption. Knowing the difference between needs wants, and greed will be helpful. There are other ways to accumulate debt besides using a credit line. Start investing with SIP and debt mutual funds This is well-liked since the returns are steady. This alternative is available to those who are hesitant to invest because of the hazards. These funds make investments in treasury bills, government securities, markets, commercial paper, and other financial instruments. Debt mutual funds do, however, carry credit and interest rate concerns. Even though there is a tonne of online advice on where to start, investing may seem scary to beginners. A crucial step would be to do research. Use a systematic investment plan (SIP), which is very simple and sensible, to start small while you decide how much work you want to put into investing and what kinds of investments you want to make. If you're not sure what you want, it's a good idea to ask a professional expert for guidance. They can walk you through your options and help you choose something that will make you happier and more involved. You may contact our professionals at EduFund, and they will assist you with the proper course of action for investing. Download the EduFund app and create an account to start investing. With zero charges and no hassle account opening process is from the comfort of your home. How much salary to invest in mutual funds? There are a lot of investing guidelines that can be used as a guide, and the 50:30:20 rule is a wonderful illustration of how someone should normally invest 20% of their monthly wage. Depending on your level of risk tolerance, there are many types of mutual funds. Index funds, debt funds, multi-cap funds, hybrid funds, and equity funds are a few of them. Building a financial safety net for you and your family when you aren't working is dependent on saving money as you go along. It might be a wise use of funds to put some of your profits into the best investment programs. Not only will it secure your future, but it will also develop your financial discipline and assist you in achieving your own objectives. TALK TO AN EXPERT

Financing an MBA is a significant worry for any MBA candidate during the GMAT prep and planning phase. For instance, MBA admission in India might cost anything from Rs 5 to 20 Lakhs - a sum large enough to make students think about and arrange their money. But money should not be a barrier to anyone getting into their ideal B-school. So, it's time to make that goal a reality through various investment choices to assist in savings for education. https://www.youtube.com/watch?v=peDFdmed0Nw Options to finance your MBA in India PPFs - The PPF is a long-term investment savings plan with a lock-in duration of 15 years, known as the maturity period. PPF accounts are a safer way to invest and receive a greater interest rate which can help to manage MBA education costs. Mutual Funds - The benefits of investing in mutual funds include that the underlying stocks/securities are adequately diversified and managed by experienced fund managers who have skills in picking them. Life Insurance Products - A term life insurance policy is the most cost-effective approach to safeguard everything and everyone in your life, even the funds you're putting down for your child's school. A life insurance policy is an unutilized tool to pay for MBA education costs. Early Start of Savings - The earlier you begin saving money, the more time earnings have to accumulate, and the more money you will have 18 years later to manage MBA academic costs. Education Loans - An MBA education loan in India is also the simplest way to cover the high cost of your MBA program. You can choose from a range of MBA education loan options. Create Goal for Child Education Why is MBA funding an important factor to consider? It is impossible to complete your MBA degree without determining how to pay your tuition and other fees that you will incur over two years of study. Even FMS's cheapest MBA program now costs about 2 lakhs. IIMs already have exorbitant fees ranging from Rs.13 lakhs to Rs.24 lakhs.  On top of that, practically all major MBA institutions have raised their MBA tuition.  If you follow a well-planned and well-thought-out process, you will not only be able to fund your MBA education at prominent colleges but also save a lot of money during your studies. Almost 80% of MBA students in India take out MBA education loans to achieve their aspiration of earning an MBA. As a result, arranging and acquiring your Education Loan for MBA/PGDM in India is just as vital as getting accepted. Before we can look at funding choices for your MBA, we need to know the fees for top MBA institutions like IIMs and other top B-schools, and then we can determine whether you need an IIM Education loan for an MBA or another B-school. Fee structure of IIMS and top MBA colleges Let's have a look at the MBA college prices. Given their exorbitant tuition, it is evident that pursuing an MBA program at IIMS or other top B-schools in India without an MBA education loan is tough. Mba college fees vary greatly depending on the type of b-school and often rise by 5-7% yearly. There are MBA institutions with high and moderate fees; however, there are also many top MBA colleges in India with inexpensive fees and good placements, such as FMS Delhi, Pumba Pune, UBS Chandigarh, and Simsree Mumbai. The current MBA fee for IIMS is between Rs 12 lakhs and Rs 23 lakhs, while the MBA fee for top PGDM b-schools such as XLRI, MDI, and SPJIMR goes between Rs 15 lakhs and Rs 23 lakhs. An MBA from most of India's top 10-20 b-schools would cost between Rs 12 lakhs and Rs 23 lakhs. Worry not if you have a limited budget for your MBA fees. MBA tuition for top colleges  The best MBA institutions in India and their cost structure are listed below: MBA colleges with fee structure Conclusion Financing an MBA is a major worry for any MBA candidate. To guarantee that the available funds do not fall short of the needed funds to manage education costs, parents should prepare ahead of time and begin saving and investing as soon as feasible. There are also several governments and commercial lenders that provide MBA education loans. TALK TO AN EXPERT

It may seem hard to save enough money to purchase a home. But if you have a strong savings plan, anyone may accumulate enough cash for a down payment on the home of their dreams. Tips to save money to buy your dream house 1. Build a better budget Setting a budget is a very crucial step in the saving process. It is tough to redirect money to your down payment if you don't know where your money goes each month. You need to be very careful in calculating your monthly income, taking into account any income from a spouse or partner who will also be helping with the down payment.  Next, gather all of your payments and credit card statements in one place. Take a look at your spending patterns. Keep track of how much you spend on basics like utilities, rent, and student loan repayment. Next, think about how much money you spend on non-essentials like entertainment, dining out, etc. each month. If you want to avoid doing this manually, a budgeting tool can help you automate the process. Getting the assistance of a financial counselor might give you a better concept of what your budget should look like if it all still seems too daunting. Once you've broken down your spending into categories, search for places you may make savings. For each category, establish a firm (but reasonable) budget and adhere to it. Make sure to set aside a particular amount of money each month in your budget for your down payment. Think of your savings as a necessary cost. 2. Stick to the 50-30-20 rule Following a 50-30-20 budget, where 50% of your take-home income is set aside for fixed bills, 30% for any discretionary needs, and 20% for savings, is one way to make significant savings. Although it won't be simple, giving up conveniences you may otherwise be able to afford will be well worth the effort after you move into your new home. 3. Search for other employment options  Even if it isn't always practical, changing professions and earning a larger salary might help you save money for a down payment. To find out if you make as much money as those who hold positions comparable to yours, look through websites that list job openings and wage comparisons. Consider using your results as leverage to negotiate a raise or ask about a promotion at work if you find out your income is below the industry average. Consider looking for higher-paying jobs you are qualified for if you don't enjoy your job or can't obtain a raise. 4. Consider making lifestyle adjustments You should think about major lifestyle adjustments if you are committed to buying your own house. Moving temporarily to a smaller apartment is one option that might help you save a significant amount on your monthly rent. In addition to your regular job, you could think about alternative income options. You may save for that down payment on your house by doing both, living within your means for at least two to three years, and reducing spending like vacations, entertainment, and other expensive memberships. 5. Invest in profit-earning instruments You must invest in various types of money growth instruments to accumulate a corpus of at least INR 50 lakh over the next ten years. Doing so will allow you to earn a respectable rate of appreciation throughout that time. Consider investing in mutual funds, fixed deposits, public provident funds, or all three (PPF).  Mutual funds can help you earn returns of between 9 and 15 percent annually, depending on the coverage you choose. PPF, on the other hand, gives an interest rate that is around 7.1% yearly compounded. The ability to start an account with as little as INR 100 is the nicest aspect of investing in a PPF.  Unlike mutual funds, investing in PPF carries no risk at all. You may contact our professionals at EduFund, and they will assist you with the proper course of action for investing. Download the EduFund app and create an account to start investing. With zero charges and no hassle account opening process is from the comfort of your home. 6. Try a systematic investment plan (SIP) A Systematic Investment Plan (SIP) enables a recurring investment of a defined sum into a mutual fund program. With a minimum commitment of INR 500, you may participate in a mutual fund plan via SIP and take advantage of rupee-cost averaging and compounding. When you consistently invest, regardless of the state of the market, you usually end up with more units during times of low demand and fewer during times of strong demand. This substantially lowers your entire investment cost. The down payment amount might range from thousands to even lakhs in rupees, depending on the home you pick. It's wise to conduct some study and select the option that best satisfies your emotional requirements and preferences as well as your financial circumstances. TALK TO AN EXPERT

There are hundreds of scholarships for Ireland that international students can avail themselves to fund their dreams. These awards either provide full or partial funding depending on the requirements, program, and institution and the student’s merits and application. Before applying for a scholarship, it is crucial to carefully review the selection criteria because Irish scholarships can be extremely competitive. Good academic standing is crucial if you want to receive a scholarship in Ireland. Both written proposals and volunteer experience are requirements for students. It's essential to have results of English proficiency tests like the IELTS, TOEFL, PTE, etc., as well as relevant letters of recommendation. Let’s look at some scholarships for Ireland to fund your child’s college degree in detail: Ireland government scholarships International students who can excel in their chosen fields of study and advance to positions of leadership in their fields are the target audience for the government of Ireland's scholarships. The Higher Education Authority is responsible for managing government of Ireland scholarships. Ireland offers a large number of fully paid scholarships. The organization awards 60 scholarships to students in any field of study from the European Union and all other nations. The scholarships are meant for Bachelor's, Master's, and doctorate. Financial support of ₹7 - 8 lakhs for one academic year. Applications may be submitted online using the website. Additional read: Scholarships in Germany Ireland government postgraduate scholarship program The Ireland government offers some postgraduate scholarships, especially for international students. Financial Coverage Annual stipend of ₹10 - 15 lakhs. Contribution to fees, which includes non-EU fees, is limited to a maximum of ₹4.5 lakhs per year. Annual eligible direct research expenses are ₹1.5 - 2 lakhs. Eligibility Criteria Both EU and non-EU students may apply. Students who want results can also apply. Bachelor's degree in first or upper second class with honors, or an equivalent degree (equivalent to or exceeding 60% on the percentage scale or B on the international scale), There is no age limit. Additional read: Scholarships in Australia Ireland university and college scholarships for international students 1. Nui Galway international student scholarships International Student Scholarships at NUI Galway is available to non-EU students. The fellowship is open to students enrolling in undergraduate, graduate, or doctorate programs. Benefits: Each year, students receive between ₹1.6 and 3.2 lakhs. Some programs waive tuition costs while giving research candidates a yearly grant of ₹10 - 13 lakhs. 2. Maynooth University Scholarships One of the best universities in Ireland is Maynooth University. It gives several kinds of scholarships including sports scholarships, music scholarships, admission scholarships, intel women in technology scholarships, etc. Benefits: Awards range from ₹80,000 to 3,20,000 annually. Depending on the sort of scholarship, students may also receive some extra advantages. For instance, the athletic scholarship might assist students with both sports-related and other fees. 3. Trinity College Dublin Scholarships Another well-known college in Ireland that awards scholarships to several international students enrolling in undergraduate or graduate programs are Trinity College. Benefits: Waivers of fees, living expenses coverage, health insurance, etc. Depending on the type of grant, students can expect to receive between ₹4 and ₹8 lakhs. 4. University College Cork Scholarship Excellence scholarships are available from University College Cork to students participating in various undergraduate, graduate, and Ph.D. programs. Benefits: The funding exclusively covers EU fees. The outstanding fees must be paid by non-EU students. The living cost is covered for students outside of the EU. Additional read: Scholarship in Singapore Other Ireland programs for scholarship Other organizations offering scholarships to international students: 1. The Walsh Fellowship Only EU fees are covered by funding. The remaining tuition is due for non-EU students. The living cost is funded for international students. The scholarships are for 4 years for Ph.D. programs and in exceptional cases, 2 years for M.Sc students. Funding worth ₹30 crores per year is committed to the program. Ph.D. programs in agriculture, food, horticulture, rural development, etc are given priority for these awards. 2. Central Bank of Ireland Undergraduate Scholarships For International Students A fully financed part-time honors degree scholarship program in Griffith College has been made available by the Central Bank of Ireland for international students. A contract for full-time employment of 4 years at the Central Bank of Ireland will be signed, alongside a seat in a 3-year part-time graduate degree - BA (Hons) in Business Studies or Accountancy & Finance. Benefits ₹20 - 23 lakhs annual salary. 24 days of leave per year. Educational assistance, as well as paid study, leave. Hybrid working (balance of working from home and office) Pension schemes, and more. For all the great brains out there, scholarships in Ireland are undoubtedly a profitable alternative. You must keep in mind, though, that scholarships are competitive, therefore it is advised that you apply to several to have backup choices. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education loans are a tremendous option if you don’t have enough funds to fuel your child’s dream. If you have the ability to pay your tuition and other expenses in installments, education loans may be a good fit for you. Let’s look at the list of expenses covered under education loans. Does an education loan cover living expenses? The simple answer is Yes! The amount of living expenditure coverage provided by banks varies from one bank to the next. Food, rent, everyday expenses, and other living costs are all included in the extremely broad area of living expenses. The manner expenditures are paid for by the loans is not consistent. While some banks may have a different system for determining the cost of living assessment, others may impose a cap on the monthly costs subject to a particular percentage of the entire loan amount. The reason it's crucial to focus on the specifics of the degree of loan coverage being provided on a certain loan. List of expenses covered under education loan Get in touch with our specialists at EduFund if you want to get an education loan so you can quickly get loans up to INR 1 Cr to study in India or abroad. Simply compare and use. It's that easy! 1. Tuition fees The majority of your expenditures, which include tuition fees, are covered by all forms of student loans. All lenders will pay for the tuition, which is the foundation of your international education. Even the smallest student loans mostly pay for school 2. Cost of living  Your living costs while you reside in the UK, the USA, Australia, Canada, etc., are occasionally greater than those of your complete family in India. The local and foreign currency exchange rates are to blame for this. Rent, food, local transportation, and other costs are all paid for by the education loan. The bank or lenders will determine how much they are covered. 3. Exam and studies-related costs  Education Loan expenses include those for books, computers, exams, extracurricular activities, and other things needed for studying. Some banks are only permitted to pay for these costs if they don't equal more than 20% of the overall loan amount. 4. Air travel tickets For students from low-income and middle-class families, traveling to a distant country requires a major financial commitment. Flights from India to London or Toronto one day may be expensive. An aircraft ticket may cost between 50,000 and 1 lakh Indian Rupees. Many lenders may let the provision include the cost of the aircraft ticket in the total loan debt even though it is not a sizable sum. It must be taken into account that travel expenditures are not often counted as a loan failure by banks. The borrower may choose to include this. It is advised to include the cost of transportation in the loan for those who cannot pay it. 5. Health insurance Student loans frequently do not include health insurance. Most lending organizations don't pay for the cost of health insurance. However, depending on the borrower's request, certain banks may agree to pay the cost of health insurance. Because of this, very few banks would count health insurance as part of the loan. What costs are not covered by a student loan? Tickets to movies, individual travel, and other such entertainment costs are not covered by student loans. Only tuition fees are in default across all college loans from different banks, even for costs reimbursed by education loans. Other costs, such as rent or other living expenses and airline tickets, are either not covered at all or only partially reimbursed (30–40%). How to calculate expenses covered in education loans? Make sure you have a good idea of the costs you anticipate incurring while studying abroad before you approach banks or other lenders for school loans. Here are some things to take into account when estimating school loan repayment costs: The cost of lodging close to the university where you have been accepted. Depending on whether you can cook, the cost of food. the price of gasoline and other forms of public transportation. Therefore if you're interested in studying abroad, don't delay any longer because there are accessible education loans available to help you reach your dream university! Finally, before making any decisions, always be sure to carefully study all documentation relating to the scheme. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Due to a lack of funding, many students are unable to pursue quality education. As a result, students who desire to continue higher education, especially at universities abroad, choose to take out an education loan. In this blog we have discussed how can you save money and study by choosing the best education loans in India. Top banks for education loans in India Mentioned below is the list of top banks in India with interest rates for education loans: Best education loans in India Following are the best education loan in India you can opt for your children's further studies: 1. SBI education loan Additional read: Does education inflation impact student loan interest rates? 2. HDFC bank education loan 3. Punjab national bank education loan 4. Axis bank education loan What are the eligibility criteria and documentation requirements for an education loan? One must be an Indian citizen who has been admitted into an institution or university that is recognized by a competent body in India or overseas.  The candidate must have successfully finished senior high school.  Even before a student has been admitted to a university, certain banks may provide a loan. Although certain banks may do so, the Reserve Bank of India (RBI) guidelines specify that there are no higher age restrictions.  The banks want additional paperwork including the institution's acceptance letter, fee schedule, and Class X, XII, and graduation (if applicable) mark sheets.  It's also necessary to have the co-applicants income documentation, such as pay stubs or income-tax returns (ITR). Is collateral required for financing the loan? Banks will contribute up to 100% of the loan, depending on the amount. For loans up to Rs. 4 lakh, no margin money is now necessary. The candidate is required to provide 5% of the required funding in order to study in India.  On the other hand, the required margin money for abroad studies increases to 15%. Loans beyond Rs 7.5 lakh may also require collateral from the banks. Financial institutions do not require any collateral or third-party guarantees for loans up to Rs 4 lakh.  For loans between Rs. 4 lakh and Rs. 7.5 lakh, a third-party guarantee is necessary. A security deposit is needed for loans that are more than Rs 7.5 lakh. When a loan application is granted, the banks transmit the money straight to the institution or university in accordance with the fee structure. What is the process of repayment? The person who takes out the loan for their schooling is in charge of paying it back. Repayment usually starts once the course is over. Additionally, some banks allow you a grace period of six months or a year after you graduate from school before you are required to repay your loan.  Normal repayment terms range from 5 to 7 years, however, they can potentially be extended. Over the course of the loan's payback tenure, the bank assesses a standard interest rate. By paying basic interest during the course, the student's equivalent monthly installment (EMI) burden for future repayments is decreased. How to apply for an education loan? You can visit the Education Loans page on the EduFund website and fill up a simple form. You will get all the details, along with guidance from experts in the field. Taking out a loan may seem terrifying, but if the student is dedicated and makes the most of the opportunity, it will undoubtedly pay off in the long term. Consult an expert advisor to get the right plan TALK TO AN EXPERT

In India, most people earn less than Rs 20,000 a month, and in such a high inflationary environment, it becomes challenging to save money from your salary. Saving is as important as meeting your current needs; it helps you prepare for your future goals and save for an emergency. Let’s find out how to save money with a Rs. 20,000 salary in India!   Developing a habit of saving may be difficult for many salaried people, but in the long run, it can be very beneficial. It not only helps you accumulate wealth, but also teaches you to budget your needs, and expenses, save on unnecessary expenses, and allows you to make the most of your hard-earned money.  Whether you earn 20,000 or 2,00,000, investing and saving a percentage of this income is a habit thousands of millennials and Gen Z are picking up gradually. Ways to save money with a 20000 salary 1. Make a monthly budget before each paycheck Making a monthly budget will help you keep track of where your money is going and control your expenses. Making a monthly budget will help you to categorize your monthly spending. This will help you to avoid overspending, and you will be able to save some money from your monthly salary. 2. Try to clear debt with high interest rates If you have taken any loans, then try to pay off debts with the highest interest rates first. If you have not taken any loans, then try to avoid taking any fresh loans. For instance, a personal loan attracts huge interest. One should always avoid taking it into consideration. 3. Cutting down on monthly expenses You can cut down your monthly expenses in many ways, like lowering the expenses, credit card spending, electricity, mobile recharges, entertainment expenses, avoiding outside food, prudent grocery shopping, transportation, etc. By saving a few bucks from each category, you can actually save a lot of money. 4. Start investing your savings Just saving money will not help in any way until you invest it in the right asset class. If you are just saving and not investing, then your money is losing its value with time. So, investing becomes the most important part of your savings. In investing, the most critical factor is time. You need to start investing as soon as possible. You can also start your saving and investing journey with just Rs 500. The idea is to start early, even with a small amount of money. 5. Cancel unused subscription You might have taken subscriptions from different websites like Netflix, Amazon Prime, etc., but you are not using those monthly. So, you can cancel all your unused subscriptions and save a couple of bucks every month. How to save 50 lakhs for a child’s bachelor’s in New Zealand? Read More 6. Avoid late fees Avoid late fees on loans. Avoiding late fees can help plan your expenses and become systematic, and you can save money. A late fee is an extra expense that might not be planned or part of your budget. 7. Prudent grocery shopping Grocery is a must for every household and is important. One can save money in grocery buying in different ways like one can go for bulk shopping so that it will reduce the per unit cost. Another way could be to get a shopping card which allows a discount on monthly grocery shopping. 8. Shop during sales Shopping during times of sales will definitely be going to help you save money. During sales like Diwali or summer, you can find heavy discounts on clothing and other accessories. 9. Avoid impulsive buying Impulsive buying means an unplanned decision by a consumer to buy a product or a service. So, one needs to avoid impulsive buying, and if you make an unplanned decision, this will increase your unnecessary expenses. And you will end up buying things which are not important. 10. Pay yourself first Remember to pay yourself first. Do not compromise on your health; upgrade your skills, and reward yourself first. Always remember your health is wealth. Conclusion By following the above-mentioned steps, you can start saving early and develop an investment plan. Don’t wait for your salary to increase to start saving, even if your salary is low, you can start as small as Rs. 500 every month and watch how this small amount grows. Budgeting and saving small sums of money can make a huge change in your savings habit, meeting future expenses, etc.  Just ensure that you analyze the benefits of your spending. Make short-term goals to help you save money. If you save today, then you will be able to tackle any kind of emergency in the future.

Every investor is looking for a well-diversified portfolio. However, due to a lack of knowledge, investors can't do it themselves.  Here, EduFund comes in to solve your problem at no extra cost. How? Let's find out in this blog Why Educase? There are different educases to meet the requirements of every level of investor. Every case is made with proper diversification and the right asset allocation. For aggressive risk or long-term category of investors, the exposure is more in the equity asset class to provide good returns and for an investor with a short-term view (6 months), the exposure is more in the debt asset class. So, these cases meet the requirements of every investor. What is Navi Skyscraper Returns Educase? Navi Educase is a pack of multiple equity mutual funds investing across market capitalization and sectors, with most of the Index funds. Navi Skyscraper Returns is an aggressive risk category educase that invests your money in equity funds having high growth potential. This educase comes up with relatively low volatility and stable returns because this educase invests majorly in Index funds. Why Navi Skyscraper Returns Educase? It provides you with a well-diversified portfolio from a wide range of large, mid, and small-cap companies at a very low cost with the benefit of annual rebalancing. The past data on educases has been back-tested before implementation. The strategy behind Aggressive Educase This educase is designed in such a way that it beats inflation and helps you to create wealth over a long-term period. Index funds have been given more weightage to provide consistency in returns and match the market returns. Who should invest in? Early parents who have just started saving for their toddlers and have more than 7 years to save. Since the educase only consists of equity funds, the returns may not be seen in a shorter period, but in a longer period, returns will be more than average. Advantages No extra cost - There is no hidden or extra cost being charged to invest in educase. Annual rebalancing - All the Navi educases are rebalanced annually if required.  Continuous monitoring - Navi educases are tracked and monitored continuously. Lowest expense ratio – Navi as an AMC (Asset Management Company) offers the lowest expense ratio in the industry. So this educase has the lowest expense ratio because of the Index fund. Experienced Research Team – The EduFund research team has a total experience of more than 35 years collectively. Due Diligence – Educases are made after proper research and due diligence is done by the EduFund research team. How can you invest in Navi Educase? The process is simple and paperless: Download the EduFund app from the Apple Store or Android Play Store. Complete the KYC process. Calculate your risk appetite. Explore the Navi Educase under Educases. And place your order.

As someone once said, "He who buys what he does not need steals from himself". Saving is an art; one learns to master it with time, but you don't have to wait. You can know how to save right now! Here is the best way to save money in India and learn from others so you don't spend more than you need to.  1. Save money by budgeting Budgeting your expenses is the most underrated yet obvious way to save money in India or elsewhere. By calculating your spending and where you are, you can find your monthly costs and check whether they fall within your income bracket.    Budgeting can help you understand where you are overspending, how to cut back on your expenses, and whether there is a leak in your budget, for example, a TATA Sky subscription you no longer use but are being charged for it every year. Take out your bank statement, assess where you are spending most of your money, and start budgeting. You don't have to cut down on all your luxuries, but you can eliminate the ones you no longer need or enjoy!    2. Save money by shopping online    Another best way to save money in India is to reap the benefits of digitalization and online shopping. Most brands offer great discounts and offers on items online to attract customers and retain them for the long run. For example, check different online shopping sites if you want to buy a TV. Figure out the best price by comparing it with various portals. You can also use this practice to book trips, hotels, and flights and easily save money in India.    3. Save money by using public transportation    Another way to save money in India is to use public transportation! India's metro cities are well-connected, and the availability of public transport helps Indians save money easily. This practice is not only good for your pocket but the environment. If you travel by private cabs to your office or college, switch to local trains, metro, or buses. If you use your car for daily commuting, look for carpooling with your co-workers or friends. This is a cost-effective way to save money on daily commutes for you and your colleagues.    4. Save money by avoiding lifestyle inflation   Most people fall victim to lifestyle inflation around the world. If you have increased your spending with an increase in your salary, you are a victim of lifestyle inflation. It is a phenomenon wherein people's wants increase with a rise in their incomes. It's easy to fall prey to this phenomenon because most people are unaware; a yearly bonus spent on a spontaneous trip or buying a new iPhone as soon as you receive your salary are some examples of lifestyle inflation.    Try to be conscious of your expenses and not spend your increment on luxuries or wants. Instead, try to save and invest it to make the most of your savings in the long run.    5. Save money by investing    Shockingly enough, only 2% of the Indian population is an investor in the stock market. Most Indians are averse to investing and miss out on an opportunity to create a rich corpus for themselves. But the scenario is changing; more and more people understand the benefits of saving and investing through social media. The opportunity to start investing as low as Rs. 100 or Rs. 500 has opened doors for people with no substantial disposable income but who wish to start soon and be regular.    Make the most of this finance trend in India; invest wisely and consistently so that you can save money on long-term goals like a house, your child's education, or an international trip! Explore SIP as an investment method and start saving Rs. 1000 every month in your chosen fund, ETF, or stock. You can also consult a financial advisor if you are new to investing and require expert guidance!   6. Saving money by creating passive income    Saving money also requires creating different income sources, so you do not have to rely on one source. This is a tremendous savings tip because it protects you in times of recession and job loss. Some ways to create passive income would be to invest in stocks that provide dividends to their stakeholders or skill-up to sell services like consultancy on jobs.    7. Saving money by reducing your debt   Another way to save money in India is to work towards reducing your debt to a manageable amount within your income. Try not to purchase too many items on EMI, no matter how attractive the monthly cost may be. Please avoid using your credit card for every purchase and limit your monthly expenses so you don't create a mountain of debt without realizing it.    You can use these tips and the best ways to save money in India to build a sustainable lifestyle. Avoid overindulging, and try to understand your cash flow so that you can save your hard-earned money.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education loans for the USA have become a necessity because the cost of studying abroad is incredibly expensive. Every year Indian students travel to the USA to pursue their education at the top universities. Only some of them manage to arrange the funds, as the rest of them have to rely on education loans.  Several banks and NBFCs in India are offering education loans to interested students at reasonable rates to study in the USA.  It is essential to note that most banks do not provide 100% money for funding overseas education as 10% of the total amount has to be arranged by the aspiring student. Before applying for the loan, students should check the website of the desired university and know about the living expenses and fee structure to determine the actual amount they will need. They can use the loan eligibility calculator on the EduFund app to get a better idea about the amount they would be eligible to receive from a bank. https://www.youtube.com/watch?v=4gTQkdePOWM Education loans for the USA offered by banks  HDFC Bank Education Loan for Foreign Education – The scheme offers tax benefits, and the maximum loan amount offered is INR 20 lakhs. Oriental Bank of Commerce Education Loan for Study in India and Abroad – The loan amount depends on the fee structure of the university. SBI Student Loan Scheme – The maximum loan amount offered under this scheme is INR 1.50 crore, repaid within 15 years. Collateral is a must if the loan amount is more than INR 7.5 lakhs. Education loans for the USA offered by NBFCs Credit – the loan is offered at a floating rate of interest for 10 years. Avanse – interest rates are floating, and the processing fees are between 1 – 2% of the loan amount. Global Student Loan Corporation – this scheme does not require a co-signer. Eligibility of education loan for the USA The applicant must be a citizen of India. The co-applicants must be Indian citizens. The applicant must be 18+ years and above. Confirmed admission to a credible university in the USA. Strong academic record. Banks give preference to students studying technical or professional courses. Documents required to apply for an education loan Properly filled the application form. Admission letter from the university. The estimated cost of study. ID proof of the applicant and co-applicant. Address proof. Passport-size photographs. Income proof. Passport copy. School and university mark sheet. Documents of the qualifying exams like TOEFL, GMAT, etc. Foreign exchange permit letter. A brief statement of the assets and liabilities of the co-borrower/ guarantor/parents. Expenses covered under the education loan Tuition fees. Hostel fees. Caution fees. A refundable deposit and building fund. Laboratory, library, and examination fees. Cost of uniforms, books, instruments, and equipment. Cost of laptop if required. Traveling expenses. Insurance premium if applicable. Other expenses like projects or study tours. Repayment of education loan The terms of repayment of the education loan for the USA start after six months or one year once the borrower has secured a job or their course is complete, whichever comes first.  Tax Benefits Loan applicants can claim tax benefits and deductions only on the interest paid for seven consecutive years and not the principal loan amount under Section 80E of the Income Tax Act.  Additional read: Education loan for studying in Canada Factors to keep in mind before applying for the education loan Finalize the course and the university where you want to study.  Check the appropriate website to know about the required amount. Factor in all the expenses. Get an estimate of the total loan amount you will require. Make a list of required documents. Select a guarantor or a co-signer. Estimate the time of disbursement. How to apply for an education loan  The process of securing an education loan is time-consuming, so it is advisable to apply at the earliest possible moment.  Visit the representative of the financial institution. Check whether the study course is recognized as valid. Compare the loans provided by different banks and NBFCs based on the following parameters. Interest rate. Processing fees. Tenure or loan processing time. Expenses that are included in the education loan. Loan margin. Repayment terms. Start the education loan process immediately after submitting the application form for admission to the university.  Apply for the education loan at least three months before the date of the visa interview, as it takes time to process the education loan.   Conclusion An education loan from the USA is the best possible alternative for students who are unable to procure the required funds or scholarships for their studies in an overseas country. It helps to overcome the financial barrier of funding.  Our experts on the Edufund app can help with loan schemes up to 1 crore both in the USA and India so that you can make an informed choice. Choose from banks and NBFC partners where you do not require collateral for an amount up to INR 75 lakhs. The loan rates are low, and there are no hidden charges for a hassle-free loan approval process. Consult an expert advisor to get the right plan TALK TO AN EXPERT