Use Energy Saving CFL Lights:Saving Sundays

This is my first post in the Series of Saving Sunday’s .

This series is my initiative to share practical money saving tips to my friends like you.

Use Energy Saving Lights

Using energy saving lights like Compact Fluorescent Lamps (CFL bulbs) will consume 60% less energy than incandescent bulbs, but give the same illumination, sometimes more illumination.

Though CFL looks like costlier item than normal incandescent bulbs, Installing CFL will

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THE TEN COMMANDMENTS OF SUCCESS IN LIFE

Hello Buddies, Thank you for staying with this blog for your personal finance basic education.

Happy 2012 to you, dear reader! I hope your new year is filled with joyful learning, abundant opportunity, and pleasure in all you do.

Please receive my 2 Gifts for your successful and fruitful New Year

1) I would like to initiate the series of “Saving Sunday’s” to

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Personal Income Tax Calculation Tools for India

Though there are so many personal income tax calculation tools available in the web, I found two of the cool & useful income tax calculator in Excel which will be useful to find out a person's total income available before & after tax, savings done for tax purpose, income tax liability...

They both are taking efforts to maintain the spreadsheet for each year and it's free for all!.

These sites provide Income Tax Calculators in downloadable excel format, you can

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Shares Vs Stock

Shares

The capital of a joint stock company is usually divided into certain indivisible units of a fixed amount. These units are called Shares.

"Share" means a definite portion of the capital of a company. It includes stock also. A share is evidenced by a company under its common seal.

It specifies any shares held by a member and is

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Investment Vs Gambling

Merry Christmas to All! May this Christmas become the period of Happy Investing for you :-)

As already we came to know about Investment in the previous posts, we will discuss directly here about Gambling.

Gambling

Gambling involves taking risk without demanding compensation in the form of increased expected return. Examples of Gambling are horse riding, game of cards, lottery etc;

Characteristics of Gamblers

1. Gambler never stops while winning

2. Gambler displays

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Investment Vs Speculation

Investment can be defined as the purchase of an asset with the primary purpose of conserving or increasing wealth. The assets may include shares, debentures, land, residential houses, gold, jewellery, social security certificates, capital investment bonds, units of UTI, deposit in banks and companies, silver etc.,

Speculation can be defined as the purchase of

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Kinds of Investments

One can divide one's investments into parts. One part maybe used for speculate purchase; another could be used for conservative buying etc. This leads one to the kinds of investments that one can make.

These can be broadly classified into the following groups:

a) Very secure fixed income investments

b) Secure fixed income investments

c) Fixed income investments

d) Equity Shares

a) Very secure fixed income investments are those

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Top 10 What Not to Do with Money Part2

Here’s Balance Top 6 - 10 in continuation to Top 5 What Not to Do with Money to keep more of your Money to keep you away from making financial mistakes.…

6. Don't manage your money without a proper plan

Ensure that you have a proper financial plan to manage your money and rigidly adhere to the same. It helps you to avoid unnecessary / impulse spending and safeguard your money. Do not invest money only on the basis of what others say. You must identify your priorities and set realistic goals.

When you are new to Investment, you must start saving with smaller amounts in

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Top 10 What Not to Do with Money Part1

Want to Keep/Have More of Your Money?

Though we are eager to save money, but as you know handling money is not that easy. Here’s Top 1-5 What Not to Do with Money to keep more of your Money to keep you away from making financial mistakes.…

1. Don't stash your money in a savings bank account

Don't make the mistake of keeping all your money as idle in your bank account. Investing and doing so at a regular basis is

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Types of Investors

Try to Know What Kind of Investor Are You?

Investor is an individual who commits money to investment products in hoping to make a profit/return from it. Generally, the primary concern of an investor is to minimize risk while maximizing return.

Investors are classified as follows:

a) A Conservative Investor safeguard capital to earn an income. They will not play in the market. They will invest and retain it for some time. He is one who doesn't want to

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Why Saving Money is So Important Part2

Importance of Saving Money Part2

Save Money

In Continuation to Part1 of Why We Save Money, Though there are 'N' number of importance of Saving Money, we can see the remaining most significant reasons to save.

     



7)     For Retirement: At Present, Average Life Expectancy has increased to 64.7  (Age) in India, so it is better to start saving earlier to face your post-retirement life in an

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Investment, its characteristics & principles

Investment Basics

Generally, "An Investment is a sacrifice of current money or other resources for future benefits". Investment means use of funds fruitfully so as to get an yield.

Investment is a commitment of person’s funds to derive future income in the form of a) Interest b) Dividends c) Rent d) Premiums or e) Appreciation of the value of his principal capital

Characteristics of Investments

1) It is an asset or any instrument

2) Risk is assumed

3) Return is

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Why Saving Money is So Important Part1

Importance of Saving Money Part1

Saving Money

One of the key factors for your financial freedom is developing the habit of Saving. Saving sounds simple, but it's not always easy to do with the kind of life we are living. Unfortunately, majority of people start realizing importance of saving money when it is too late. Good Financial Planners realize every one need to save today's earnings for expenses they will have to face in the future.

Everyone might be hearing about Saving Money…. And you may

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Types of Savings

We can divide your total Savings into three parts:

1) Sacred Money - You would never want to risk this part of your savings. You may keep this at home under the mattress or invest in Bank accounts and in Government guaranteed schemes

2) Serious Money - This part of your savings you are willing to expose to a little bit of risk. You may buy debentures issued by high quality companies, or you could invest in FD's of good corporate.

3) Aggressive Money - This you may use to invest in shares or other relatively risky investments which have a potential of giving excellent returns.

Types of Savings can also be considered based on the foll. Factors: Your savings time horizon (i.e., less than a year; more than five years); and your savings need (i.e., Fun Fund, Retirement).

The amount you want to invest and the

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Types of Income

In order to understand more about Money, you must first understand the different types of Income. It’s really better to understand the below 3 basic types of income, so that you can decide better in which way you want to Make Your Money. 

1) Earned Income:

Earned income includes all the taxable income and wages that a person receives for work they have done. There are two ways to get earned income: You work for

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Basic Rules of Money Management

Money management is extremely important to your financial well being. Improper management of money will lead to financial difficulties & bankruptcy. This simply means "spending more than what is earned". The two ways of increasing wealth is to either increase our income, or decrease our expenditure. 

“Are you playing safe with money?”.   

If not, here are some basic rules to help you get your money into good positive shape.

1.  Plan Your Finances

Plan for your families’ future, any major

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Some Basics to be known other than Money

All about your Money Honey… Part 5

You are here just to refresh yourself about some basics to be known other than Money - Income, Expense/Spending, Saving, Investment, Inflation and Deflation

What is Income?

Some Basics to be known other than Money (Income = Savings + All Expenses)

# Income is money earned by means of Employment (through Salary, Wages,

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Is Money important for Human Life?

All about your Money Honey… Part 4

Money, Money, Money...

You must know how money is important in our life with continuation to the previous post of Types of Money.

Money lets you live a reasonable, comfortable life so that you can buy the daily necessities and take care of people around you. In that sense, it is important. 

Importance  of Money in Life Subramoneyplanning

Dawn until Dusk, day after day, month by month and year after year we need money for leading self-sufficient life. To

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Types of Money

All about your Money Honey… Part 3

In continuation to Money, its functions, characteristics & importance, now let us know the types of Money.

Types of Money Subramoneyplanning

Commodity Money:  It is something that performs the function of money and has alternative, non-monetary uses. Money that has an alternative use as a commodity–cattle, gems, and tobacco, for example– is considered commodity money.

Examples:  Gold, Silver, Cigarettes

Fiat Money:  It is something that serves as money but has no other important uses. The paper money is generally called as the fiat money. Fiat Money has a face value determined through

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Money, its functions, characteristics & importance

All about your Money Honey… Part 2

In continuation to Barter System & its disadvantages over Money, now let us understood why was there a need for “Birth of Money to bring an end to the Barter System”

Money is a social convention.

 “We accept money as payment because we expect others to accept it from us”.

In Brief, Money is anything that people will accept in exchange for goods or services, in the belief that they may in turn exchange it, now or later, for other goods or services. Right from birth to death, everybody requires money at every stage of life. It is the honey baby/heartthrob of every heart.

As we know “Money is what money does” , so let’s see the functions of money.

Functions of Money (What Money does?)

The functions of money are the same which were defects in

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