I also save every penny some month only few tens and other months few hundreds From past 12 months whatever i saved, i keep one separate purse and put it into it. I plan all my expenditure and come whatever circumstances i do not touch the saved amount. But i dont save this amount in any other scheme but bought gold ornament. as told earlier other than this i pay RD every month for kids education and also buy some 10 gms gold every year and pay it in installment. What i have seen is that gold rate is always increasing right from the time of marriage (4 years back). And also planning to cut off some of my entertainment expenses like to going to hotel and all and start paying NSC. Sandhya
hi just buy 2gm gold coin every month. its a wonderful and safe saving method. definitely its value will increase. in India its available even in post offices. it costs minimum 2000 INR ,200 AED when u sell this u wont loss anything like wastage. its available in jewellerry shops. bye for the moment.
Good thread!. Money saving is good for us as well as for our Kids too. First of all, think for what you are saving the money. B'x most of us think, if we have solid cash in bank, thats a good way. Some thinks, investing the cash in a form of a asset and watch them grow. Sit and discuss with your spouse and even with the big kids (Insisting on this part, b'x kids also should learn the value for the spending whatever we do, as well as whatever they are going to do) of what you want to really do with the money. First one yr in our married life,neither me nor my husband had a thought of saving anything for us. We started to track our spending records with the notebook (Conventional method!), then moved on to Excel. We used to write down every penny we used to spend. But for the past couple of yrs, we are using "Money-2000 or whichever version" you get it. It really works well for us. You can even download your records from your bank/creditcard and import it on this, in that way you can have a full fledged records of what you do. If you are using hard cash for your purchases or so, then u need to remember it and record it as well. Just like putting a budget. Instead of a monthly one, try to put it as a yearly one, based on your yearly tax approximations. Whatever you want to buy, set your limits first and decide where to buy it. Look for the coupons, banks which can give you more interest, 0% APR credit cards, etc. I am still long way to go.. if i get more info/tips surely share with you all. Thanks Geetha
i don't think investing in gold is a good saving scheme. coz here when i enquired in devji's for 100 gms gold biscuit . he said its only available in 24ct . but when u sell it they take it for the value of 22ct . as 24 ct is more expencive than 22ct . we are loosing money isn't it.:spin
Yes, when you buy gold buiscuit then ithis prob arises. But if u buy 22ct gold coins then no problem sandhya
Ya even i buy gold coins.I buy 1 gram coins always so if in case i m in need i can sell 2 or 3. Even lic is having Money back policy after 3 / 4 years you will get a sizeable amount every 3rd or 4th year. If you check lic website there is premium calculator for each policy which you can check.:thumbsup
