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RESULTIn the last edition, we asked you - Do you think schools (or educational institutions)should start educating children on personal fi nance?

YES 90%

Here's how you voted

NO10%

READER'S POLLGiven that you have adequate time, would you prefer to invest for your child's wedding instead of taking a loan?

Share your answer via SMS. Type Poll<SPACE>YES or Poll<SPACE>NO to 5676756. In the next edition, you can fi nd out how many people agree with you.YES NO

SIP can be your financial support during difficult times.It is never too late to have a fallback option; start today!

Steps to download and scan a QR code: 1) Download QR code app on your phone. 2) Run app and scan the QR code. 3) Your smartphone reads the code & navigates to the destination.

Scan this QR code to calculate the amount you need to invest to achieve all the milestones you have set for yourself

I am a 40-year-old and I want to create a corpus of `70 lakhs for my daughter’s higher education and marriage expenses in 10 years. Where and how

much do I need to invest?Broadly speaking, your investment choice should be

guided by two things: investment horizon and risk appetite. If you have an investment horizon of more than three years, you should pick equity mutual fund schemes. As per your situation, you have 10 years in hand and if we assume 12% returns on investments, you will have to invest `30,000 per month to create a corpus of `70 lakhs. Investment in equity mutual fund for long has majority of the times proved benefi cial to the investor. You can also safeguard your investment returns by shifting your investment from equity mutual funds to debt funds.

GURU SPEAKHarashit Goldar Financial Advisor

Tathagata Mukherjee Financial Expert

Joint holding in mutual funds or investing in a mutual fund under joint names is a good idea. It can be operated by either of the unitholders. Joint holding is

also hassle-free because the investment passes on to the survivor if one of them dies, as the right of the joint holders is superior to that of nominees. Funds allow investment jointly, either between two or among three unitholders. Joint holding is established at the time of application. All joint holders should sign the application. PAN and KYC details are required for all joint holders. Joint investments allow you to contribute a larger amount towards the fund; whether it is lump sum or SIP. However, bear in mind that only the main account holder can avail tax benefi ts from investments in ELSS funds.

HERE’S WHAT THE EXPERT SAID

EXPERT SPEAKA reader asked us: I am a 28-year-old engineer and I got married just two months ago. My wife and I want to invest in mutual funds for our future. My question is, can the two of us invest jointly in mutual funds through a single account?SWATANTRA KUMAR EXPLAINS:

Now you can have your honeymoon in Paris for `3,300 P.M.

With movies glorifying Switzerland and Paris, most adults dream of going there for their honeymoon. Mutual Funds can help in turning these dreams into a reality. Here’s how:

Honeymoon duration: 6 nights, 7 days

Inclusions: Flights, 4-star hotel stay, transfer, meals, sightseeing

Destinations: Paris and Zurich Approximate cost for two after 5 years: `2,60,000

While Mutual Funds can help you accumulate money for the trip, here are a few tips that will help you save cost.

• Plan and book tickets well in advance• Build your emergency trip Fund• Go for international credit cards • Opt for bed and breakfast deals• Hire a car or a bike to roam around • Make the most of reward points and discounts • Plan your honeymoon during offseason

Systematic Investment Plan (SIP) Amount `3,300

Total amount invested in Hybrid Mutual Funds `1,98,000

Investment tenure 5 years

Rate of return* 12%

Expected amount at the end of 5 years `2,67,642*Assumed rate of return **The table is for illustration purpose only

WATANTRA KUMAR EXPLAINS:

3,300 P.M.

This content was created exclusively for UTI Swatantra. Visit http://www.utiswatantra.com for more information

Have no secrets: Trust and understanding forms the basis of any marriage. Ensure you know your partner’s fi nancial status and vice versa. Give each other a complete account of the income, expenses, assets and liabilities.

Make a budget: Mostly, marriage means combined income as well as combined expenses. To be able to manage them well, you must have a budget in place. Go on money dates regularly and chalk out your budget.

Discuss your goals: While you may want to celebrate your 5th anniversary on a cruise, your spouse may want a bigger house. With an understanding of your partner’s fi nancial goals, you will be more cautious with your spending, saving and investing habits.

Update your documents: You may want your spouse to be your benefi ciary or nominee after marriage. In such cases, ensure you communicate to your Insurer, Fund House, etc. to update your documents. This avoids any ambiguity, legal or fi nancial troubles later.

Invest: To accumulate enough money for the entire journey, you need to start investing. And you can even combine your investments. For example, Mutual Funds allow you to have a joint investment with your spouse.

Review investments: To make the most out of your investments, you must review them regularly. Ensure your investments are in line with your goals. Rebalance your portfolio if need be.

A couple that plans fi nances together, stays happy together! If you want to have a ‘happily ever after’ with the love of your life, follow these simple steps.

6 financial steps for a “happily ever after”

In the next edition: Dreams could be many – wedding in style, buying a house, retirement peacefully and ultimately being a millionaire. In the upcoming edition, we will look at how one can become a Crorepati with a few smart investment tips.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

If it is your special day, why shouldn’t it be your money? To know how you can throw a grand wedding party with your hard-earned savings, tune in to UTI Swatantra Facebook Live on 28th November 2019 from 5 pm onwards and catch the show on ‘Your marriage, your money’.

Disclaimer: To know about the KYC documentary requirements and procedure for change of address, phone number, bank details, etc. please visit https://www.utimf.com/servicerequest/kyc. Please deal with only registered Mutual Funds, details of which can be veri� ed on the SEBI website under “Intermediaries/Market Infrastructure Institutions”. All complaints regarding UTI Mutual

Fund can be directed towards service@uti.co.in and/or visit www.scores.gov.in (SEBI SCORES portal). This material is part of Investor Education and awareness initiative of UTI Mutual Fund.

Goa or Ko Samui: Plan your destination

wedding in style.

Components of a destination wedding• Travel and accommodation: Booking fl ight tickets

for everybody in the wedding party can be a costly affair. Also, while accommodation is not an issue when your venue is local, it plays a vital role if you are opting for a destination wedding. You would want your guests to have a pleasant stay.

• Decoration: The décor is going to be the backdrop of all your lovely pictures and videos. It also refl ects your personality.

• Catering: Wedding is synonymous with food! The caterer you choose can make or break the wedding. Good food is equal to happy guests.

• Clothes and accessories: While the bride and the groom need to be in their glad rags, you will also have to spend on the clothes and accessories of close relatives.

• Makeup and photography: How you look and how your wedding looks to others depend on your makeup artist and photographer.

• Music and entertainment: No celebration is complete without song and dance. While you may want to make a playlist of your personal favourites, you will need a DJ or a host to set the right mood.

• Wedding planner: To have a worry-free wedding, you need a profi cient wedding planner.

The funding of a destination wedding: Instead of keeping your hard-earned savings at home, start a Mutual Fund Systematic Investment Plan (SIPs). With SIPs, you can save diligently. Also, with the returns on your investment, you can cover the cost of a few major components of a destination wedding.At the end of the day, it is your personal choice whether you want to have a destination wedding or not. However, it is a good idea to start investing like you would have it. When it is time for your marriage, if you want to have a destination wedding, great! You would have the Funds to fulfi l this wonderful dream. But if you don’t, you would have built up a substantial corpus for your future. Either way, it is a win-win situation. So, dream big and invest big!

Wedding in Goa in 10 years

Wedding in Ko Samui in 10 years

Total Cost `30,00,000 `53,00,000Amount to invest each month in Hybrid Mutual Funds

`15,000 `26,500

Rate of return 10% 10%

Total amount invested `18,00,000 `31,80,000

Final Corpus `30,21,864 `53,38,626

Wealth gain `12,21,864 `21,58,626*The above table is for illustration purpose only. In this calculation, the annual return of 10% has been assumed based on the category average returns of aggressive hybrid funds over the last 10 years.

WHAT NEXT: Your fi nancial planning journey should not end after your wedding. For a happy married life, it should continue even after you tie the knot. Let’s look at some fi nancial planning tips for couples.This content was created exclusively for UTI Swatantra. Visit http://www.utiswatantra.com for more information

There’s no greater pleasure than walking down the aisle in style.

It gets even better if you always wanted and planned a destination wedding.

After all, a destination wedding takes the excitement to a whole new level.

The cost of a destination wedding

Goa Ko Samui, Thailand

Travel and accommodation `6,00,000 `12,00,000

Decoration `2,50,000 `7,00,000

Catering `9,00,000 `15,00,000

Clothes and accessories `8,00,000 `10,00,000

Makeup and photography `1,50,000 `3,00,000

Music and entertainment `1,00,000 `1,00,000

Wedding planner `2,00,000 `5,00,000

Total Cost `30,00,000 `53,00,000* All the fi gures are assumed for a 2-days wedding with about 50 guests in a 3-star hotel.

The actual cost can vary as per your requirements.

Teaching children about personal fi nance from an early age can builda solid foundation for the future. And if schools include courses on personal fi nance inthe curriculum, it would be a fantastic way to educate children about the value of money.

Expert Opinion