dear moderator, as i had pressed the submit twice,now two threads seem to be going on.can u join them so that we can make better use of the tips mentioned. pragati
Hi all, its really nice thread and having wonderful tips to save money!!!:thumbsup I have a doubt: I saved some amount in SBI Magnum tax gain (Dividend) plan in 2007 starting. got a Portfolio no. too. but i dont know how to see the growth on that? because when i searched in that respective site, its always not showing me the details. Even i send mail but no reply :hide: Hence i want to know when the amount will get matured (Since it got 3 years of locking period), and whats the amount.... If anyone having same investment plans please reply back.. Please advice me Thanks, SwathiSenthilkumar
Hi all, I have one more doubt: on the method of 16 days deposit FD, will they not do any preclosure charges they take?? kindly advice me, if anything will happen like that.? Thanks, SwathiSenthilkumar
Hi MY3, Saving by Chits is a good idea but i feel to be careful in two things.. be careful about the person i.e. on whom ur trusting to save ur chit amount Try to draw early the amount and invest it in other way so that by the time of ur chit period completes atleast u can double ur amount i hope u got my point.. (in telugu....chitti tondaraga paadi.. invest chesukunte useful lekapothe... antha use kadu.. just money save avuthundhi anthe) happy saving:thumbsup regards Prathima
Hi, your tips seems to be very helpful.......n i guess u have lot of knowledge about all this.........so i would like to have some suggestions from you.....am planning to tke a lic policy for my 2yr old son........but i dnt kw which one would be of more beneficial.......according to me i was planng to go with a money back policy as it may helpful for his studies..... secondly, wat else i can make savings for my son n me too.....i already have some fd's but any other way of good investment or savings could u suggest me......as u seems to have a good knowledge abt all this n experience too....i would be thankful to u n wait for ur reply.......... chow.
hi IH, thanks for your tip on reinvesting in shares.as market is up already seeing some gains.still i am being cautious as it may slide down again when election results come. have decide to exist after 10% gain. pragati
Hi Infinitehopes, I didnot know the term NSC. I now will certainly save in that also. Dear Pragathi, Nice topic. Even I like to share how i am saving for future. I am a homemaker and with all the expenses i am able to save only about 2 K per month. 1. one thousand in RD (for my kids admission every year) 2. i but one gold ornament for about 10 gms every year and pay it monthly. as i got to know about NSC and can start putting even from 500 I will think to save atleast Rs.3000 every year in NSC. If you can come up with any other savings which can be started from 500 please keep posting. Thanks sandhya
Money makes many things. This is really a worth reading and posting thread. My two cents to it for cost saving which i have been started practicing. A Penny is saved is a Penny earned no matter the amount is. Nomrally, I used to withrdraw some amount for my initial monthly expenditure like rent,car wash,internet,power bill,grocerry(usually from sodex ho coupons)bike reparing,maids,milk,paper, luxury like movies and restaurants etc. So, by first week of every month I pay all utility bills and rent. Then from 10th of every month, I withdraw amount as and when needed. Due to this recision, we are becoming pretty careful in buying stuff. 1.Cut down on power bills(like switchoff unnecessary lights,A/C,fans,geyser etc) 2.be careful while buying careful, dont go along with offers unless both items are useful for you especially big super markets are making money with some nonsense offers. 3. Try to sell out newspapers which makes house tidy and gives some bucks 4.Unless it is necessary like b'day or marriage day or any occassion, don do shopping just because of you went to shopping. 5. Milk packets, if you are going on some vacation for couple of days, try to inform milk wallah that milk is not required nad you will inform once you are back. 6.Cut down on mobile bills, because now a days mobiles are more than number oof ppl in the house. If everybody has a mobile, try to disconnect landline and go for some offer for mobile bills aswell. 7.Buy vegetables in the market such taht you will get good stuff with a reasonable price instead of buying in small shops and ppl who sell infront of house unless you are in some urgency. 8. Coming to transportation, unless required, dont get into autos for small distances you can always go for a healthy walk. 9.IF you reduce clothes shopping then you are inturn reducing tailor bill aswell. 10.Frequent outings also sometimes add extra bucks to the budget. So, make a habit of eating out once in a fort night or a week, just avoid outside food as much as possible which is economical and healthy. Hope this helps!!
hi shreyas, i seem to remember SBI had a SIP for Rs 500.with MF risk is associated but returns are good.the there are the trusted RD .low return but no risk involved. my favourite qoute these days is'u can't always decide how much u earn but u can decide how much u save'. so its good u have planned ur savings nicely. pragati
hi priyamommy, well said'a penny saved is a penny earned.' ur tips are great. one thing i want to add is that once u save a small sum say Rs 10 then keep it aside separately.do not mix with ur other money.i put these pennies aside & was surprised how much it add upto by end of mth. pragati
