Managing cost budgets-Know your true savings month on month

Have you managed your cost budget and know your true savings month on month ? Overview of "Managing budget" Many of us complain stating that in some months we spend abnormal expenses either for children education, car maintenance or insurance payments and our savings month on month fluctuate. How to identify the true savings month on month is a big challenge for any one. I would be telling you simple tips on identification of true savings month on month. These […]

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Reduce Expenses and Save – Without compromising on the quality of services

  Overview What I meant here is, not to cut-down the items which you use and reduce the expenses. What I refer is getting what you want with lesser costs, thereby increasing savings and adding this kitty as extra income. How to reduce your expenses You are aware of the saying “80% of the problem would be in 20% of the bucket”. Similar way 80% of the expenses would fall under 2-3 categories of expenses. List down your expenses for […]

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Small business idea-Fashion designing-How an Illiterate is heading towards becoming Crorepathi in 5 Years

  Recently, I met one of my old friend, Rahul in one of the get-to-gether. He is illiterate, struggled for earning money for 10-12 years, but now he is earning an income of 3 times more compared to a person working for an IT / MNC company on an average. He is either doing any magic or doing any impossible thing. He is working as small “Fashion Designer”. I repeat he is doing only basic fashion designer work and I […]

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Best Investment Options – Tax saving Schemes in India for 2012

Overview There are various tax saving schemes in India where a individual tax payer can invest and get benefit in income tax.  Currently for FY 2012-13, below are the income tax slabs. Taxable amount (INR) Tax 0 to 2,00,000 Zero tax 2,00,001 to 5,00,000 10% tax 5,00,001 to 10,00,000 20% tax 10,00,000 + 30% tax However we see that an individual tax payer is in hurry to invest the money in one of the tax saving schemes and forget / […]

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Best Investment Options – 5 Steps to pickup the right and best mutual funds

Quick overview about Mutual Funds Mutual Funds pool money from several investors and invest in Stocks, Bonds, Money market instruments and other Govt Securities.  There are various types of Mutual Funds and there are several Mutual Fund schemes in each category  Various Mutual Funds Equity – These mutual funds invest majority of the money (upto 80%) in Equity shares (Stocks). Only upto 20% of its amount is invested in Bonds and Govt Securities. They generally fluctuate highly based on the […]

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Best Investment Options – 3 Ways to invest in Gold

Overview about Investments in Gold An investment in gold has given very good return over years. Whether one is rich or middleclass or poor, everyone likes to invest in gold. Gold can be purchased either physical gold (Gold coins and Gold Bars) or purchasing ETF’s  / Mutual Funds. Gold investments gave return of 1300% in the last 12 years. See the below table to see how the gold investments gave the returns in the last few years.    Gold history […]

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