If you are thinking about putting all your eggs in one basket, better not do that because Section 80C has a limit of Rs. 1 L. That is, if you have made investments of Rs. 1.50 L in the investment instruments mentioned above, only Rs. 1, 00,000 out of it would be eligible for deduction… Read More »
For the retired people, the Post Office Monthly Income Scheme is a good savings instrument. The interest is 8% divided on a monthly payout basis. The payout if not required can be channeled to a recurring deposit. The effective returns increases by almost 10% by doing this. The interest can be credited to a savings… Read More »
Getting a travel insurance policy is slowly becoming an indispensable part of a traveller’s list of ‘must-have’ things. The basic purpose of opting for travel insurance is to safeguard against high medical costs as well as baggage delay or loss. Other eventualities covered include loss of passport, missed flights, financial emergencies and housebreak when the… Read More »
One sure way to find some excess cash in a downturn is to reduce expenses and lifestyle purchases. The point is not to cut down on the fresh fruit that we buy for our children, but on the new sofa set that we planned for our living room. The new model mobile phone or the… Read More »
If a woman earning Rs. 50,000 per month takes a 5 year break from her job because she wants to be at home with her child, her earnings and thus savings take a hit of Rs. 30L. We have not yet considered any increment in her salary. If we consider that her salary increments by… Read More »
Use real-life experiences to demonstrate everything you want to teach. Learning by observing and doing is the most powerful tool. Such as when you go grocery shopping, and can use the opportunity to showcase planned spending, or how to recognise value for money. Or if you decide to use a credit card at a restaurant,… Read More »
Managing a budget for your household is more than just keeping track of all the expenses for the month. It is a chart of how much income there is, how much will be spent, and what can be saved. The idea of the budget is to broadly plan for living within your means. A budget… Read More »
What is your purpose in investing? Are you saving for a short-term goal like buying a car or for long-term goal like retirement plan? How comfortable are you with taking risks? Answering these questions is important to prepare the correct plan for your finances. Unfortunately, not many spend time answering these questions.
If securities are sold on the exchange within a period of one year of purchase, it is short-term in nature. Short-term capital gains are taxed at 15%. Short-term capital loss can be set off against short-term capital gain & long-term capital gains.
Having discipline is extremely important. You have to have discipline in the way one spends and controlling one’s expenditures. It is the key to reduce liabilities and debts and save more. As per a famous trading and investing legend- One must not spend time looking for the Holy Grail of investments or trading systems. It… Read More »