Have you just won Rs 5 cr? If yes.. it's time to disappear

Things you can do with a sudden fortune

•If you are one of those luck souls who have just inherited/won a huge sum of money, the first question that will be asked is “What are you going to do with all that money?” In a personal finance article, The Economic Times discussed the things you need to keep in mind if you ever became rich overnight.

[caption id=“attachment_145562” align=“alignleft” width=“380” caption=“Don’t just show off your newly-acquired fortunes. AFP”]  [/caption]

Citing the example of Sushil Kumar, the 27-year-old computer operator from Bihar, who turned rich overnight after he won Rs 5 crore in the game show ‘Kaun Banega Crorepati’, the newspaper offers some helpful hints on how to ensure you make the best of your new-found riches. One advise that the article offers is to become invisible to not only avoid those zillion well wishers but also to prevent your dear ones from pocketing a bit of that fortune.

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Buying a car? Check your usage

•While the sharp rise in interest rates has hindered car purchases by consumers, the hike in fuel rates has not helped either.

_Business Standard_explains some important features among the petrol, diesel and LPG (liquefied petroleum gas) segment. If one looks at the cost of running such vehicles, the CNG (compressed natural gas) option works out to be the cheapest as it costs only Rs 1 per kilometre.

In contrast, petrol and diesel options will cost users around Rs 5 and Rs 3.5 per kilometre, respectively. However, in terms of resale value, a petrol car is better if you plan to sell you car within a time frame of three to four years as the resale value of a CNG/LPG slips sharply once the engine is changed. To know more, click here.

You can invest in mutual funds even if you haven’t provided your KYC (know your client) details

•Interested in investing in the equity markets, but resisting because you have not complied with know-your-client (KYC) norms? Fret not as you can apply for a MF investment and your KYC form at the same time, says Mint. As a KYC acknowledgment is one of the prerequisites of investing in a mutual fund, the investor can visit www.cvlindia.com and click on the “inquiry on KYC”. Depending on whether you have your KYC or not, there are two options. Click here to learn more.

Big investors shift to debt MF schemes

• Smart investors know where to park their money and this was visible by the shift to debt-oriented funds by investors.As per the Securities and Exchange Board of India (SEBI), as on 31 October, the average assets under management in debt funds was Rs 4,78,285 crore, much higher than the Rs 1,78,948 crore in equity funds.

The sharp fall in equity markets has changed sentiment for investors who have now shifted to debt funds, said_ Business Standard_. As a majority of equity schemes have lost money in the past year, the debt category has emerged as a safe haven due to its predictability of high returns amid a high interest-rate scenario. Among the 10 top-performing fund categories, seven belong to debt funds, with ultra short-term schemes being the best-performing among income funds.