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Wrong Mutual Fund Investment

The Mutual Fund fee can clean away all your retirement savings. So it’s better to consider the fees when investing in mutual funds because there is class system in the investment portfolio. Mutual funds are divided into share classes and every class has a different fee. In Mutual funds same funds with same manager, investment holdings and performance may come at a different cost due to the class level of the investment.
There is an annual fee for the mutual funds which is taken out from your investment each year and all mutual funds carry expense ratio. Expense ratio is charged as a percentage of your investment and the amount varies by the fund. The mutual fund share class shows that how a fund rates a sales charge. The cost is paid by you to the investment advisor or broker as a commission. There are multiple ways through which mutual fund sales charges can show up like upfront cost when you purchase the fund and a fee when you sell the fund.
Paying up the mutual funds fees is one of the biggest drains on your retirement savings. In order to keep the fees on your mutual fund investment low you must consider the expense ratio and load charges before you invest and don’t assume that an investment is inexpensive, even if offers a good value. Often the lowest cost options are index funds, exchange-traded funds or open-end mutual funds, which can be bought directly from mutual fund company.
By : admin
08 Jan

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To set budget to pfm, tap on budgets then tap on ‘’create new’’ budget button. You can choose category and allocate amount for budget.
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To add new transaction, you can tap on plus button (bottom), select transaction type, add amount, select category, select account, to add detail (optional) you can add description, tags, location, receipt etc. In case of recurring transaction set time interval.
How to filter out past transactions?
Tap on filter icon to filter out / sort transactions by category, amount and transaction type.
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To set saving goals with hysabkytab tap on create new option, name your goal, add amount, set target date, add tags (optional), choose icon (optional), tap on create saving goal option.
how does tag work in hysabkytab?
Tags work just like a sub-category in hysabkytab. For example, you added an expense transaction for rs.350, category (transport), account (cash) and you added a tag name (uber). Now you can search through your tag. To search, tap on history, tap on search bar, type your tag name (uber)
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New hysabkytab has person account only for lending and borrowing. You can change your previous personal account into income and expense accounts. For that create a new cash account with same name, but don’t enter balance, then make a transaction of transfer (from old account to new account with initial balance).
Why hysab kytab asks for camera access?
Certain features in hysab kytab requires access to your camera/gallery for example if you want to attach receipts with transaction, or you want to post sale alerts, in those scenarios you are required to give access to your camera/ gallery.
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When you try using the feature of adding place to your transactions, the app requests your permission to give access to location services. If you allow the app to access these location services, you will be able to see what places you are spending your money at.
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You can adjust decimal according to your need, to change currency format, tap on left drawer (top left), tap on setting, tap on currency format (change by scrolling down)
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You can set reminder for any type of transaction. To set reminder, tap on left drawer, tap on reminder, tap on add button, set type, title, time, interval, date.
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How to set 4-digit passcode?
To add extra layer of security, you can set 4-digit passcode on your hysabkytab app, to set 4-digit code, tap on left drawer, tap on setting, tap on security, set 4-digit pin.
How to create a backup on hysabkytab?
To take backup, tap on left drawer, tap on setting, tap on backup, you can either take backup on your device or google cloud.
After changing phones, how do i transfer my data from one phone to another?
you will have to create a backup on your google cloud from your old phone. If you are logged with the same google account in your new phone, you can restore the data from your google drive. Once restored, all your data will be retrieved automatically.
Cross platform backup
Hysabkytab does not support cross platform backup, you can only restore android backup to another android device only.