The thing I missed saying is - first I try to understand my risk apetite - if its very high i.e. I can afford to gamble more money, I can put them in MFs etc.. But if I forsee some expenses - like towards our treatment then one of us reduce our risk apetite.. that way we balance the portfolio.
dear hasinii message boards on different sites normally are a riot and if i have time , i too read themBig Laugh dear infinite thanks for sharing your tips your hopes are going to materialize as you are so meticulous. great going and best of luck
hi..infinite.. i saw ur post.. it was very useful for me.. can u clarify me the below ones.. 1. can u explain wat is NSC, SIP.coz am nt aware of that.. 2. can explain me cleaarly abt 16 days FD.. 3. right nw which bank is giving highest RD rates.. 4. can u explain me the post office savings.. and i would like to give a small tip which i do.. i have made my LIC payment as a yearly payment. so i used to save a small amt (amt i have pay for LIC divide in monthly say rs.1000) in banks RD as term out of 1 yr. so at the end of the yr when it matures i will take that amt and pay for LIC and also i will get sme extra amt (interest amt). so, tis is to avoid late payment for lIC. i would say tis as a double damaka..
hey bharathi please go through the below link you would find the needed info..hope it helps you Small Savings & Investment Plans in India. Tax saving Tips for Indians, Income Tax Planning
Hi Bharati, 1. can u explain wat is NSC, SIP.coz am nt aware of that.. National Saving Certificate - where you put in money (min 10,000) and then it will mature in 6 yrs. I would advice to take one every year - so only for the first 6 years you don't get any returns - but they start maturing after 6 years and every year 1 will mature - so u get continuous income every year ! SIP - Systematic Investment Plan. You can invest in SIP like RD (per month) - the bank then invests your money into share market/ IPOs etc. So its the bank who manages the portfolio - and we expect them to be smart people - so that they help us make money from share market. But this is linked to market condition - so if you decide, consider the risks. (I sound like the fine print here ) 2. can explain me cleaarly abt 16 days FD.. FDs can be created for different periods. Min is 16 days. You will typically get .25% or more than standard saving a/c interest. So when you get salary, if you put some big chunks in 16 days FD, it will mature when you need to make some payments like credit card / home loan etc.. So that way u make the payments but also earn some interest. :thumbsup 3. right nw which [COLOR=green! important][COLOR=green! important]bank[/color][/color] is giving highest RD rates.. It entirely depends who you bank with, where you work, which city you live in, if you are opening a joint RD with a senior citizen (additional 1% interest rate) etc..Typically you will be able to find out from that bank's sites.. At times, the smaller cooperative banks give better interst rates than other nationalized or private banks.. So do find out within your area. 4. can u explain me the post office savings.. Indian Post Office offers lot of schemes like Monthly Income Scheme, RD etc. So you can invest in them. Its very safe investment and you can find a nearby agent, who can help you with the formalities. Hope it helps..
:hiyaINTRESTING TOPIC ITS TODAYS NEED THIS IS HOW I SAVE MY MONEY 1.PLAN MY BUDGETBig Laugh 2.MAKE IT AS SMALL AS POSSIBLE 3.SAVE AT LEAST 25% OF YOUR EARNINGS 4.SQUEEZE THE LUXURIES:hide: 5.NEVER OVER GO FOR OVER SHOPPING
Hi Pragathi, Thank you for your reply. Naynu maa friend chit vaystunnaaru ata. anduloo oka chit kadadaamu anukunttunnaanu. Eayla vuntundi? Love My3:thumbsup Believe the best of everybody.
dear mythre, sorry cannot understand what u have written .am north indian . glad my reply was of use. pragati
Hi Pragathi, Thanks for your reply. I wanted to invest my money in 'Chits'. Do you any idea on that? In South India most of the people invest money through Chits. If you know, please guide me. Love My3:thumbsup Believe the best of everybody.
