Mutual fund investment – Few high return areas
Posted by admin on Sep 11, 2010
Apart from maintaining a savings account in Bank, we can think of investing a part of our money in few high return areas. Many of us invest money in the share market, but it’s not a cup of tea for everybody. Mutual Fund is playing as a major role in the dynamic investment sector these days.
But the problem arises when we need to decide which fund to choose, how much to invest, etc. New funds are coming up each month. When we study the performance of last few years for some good funds, we end up with a mixed result. On the other hand, fund brokers don’t guide in the right way as they have targets to promote new funds. So ultimately it’s very difficult to come up with some fruitful solution.
Here I have tried to put forward few suggestions that may help you out taking a brave decision:
- Long termed plans: Mutual funds are divided into two basic categories; a) open ended funds b) locked period (long termed) funds. In case of long termed funds investors can withdraw money only after the locking period is over. So the fund raisers can reinvest the money in a better way. They don’t have the tension / headache to refund money to the investor at any point of time. Naturally better returns can be expected from such funds.
Tips for managing personal finance during difficult times
Posted by admin on Sep 11, 2010
With the increasing trend of price hike of commodities, it has been really difficult to maintain a balance between income and expenditure. Any time, we can be out of the track. So, here are some tips which can help you to overcome your financial difficulties.
- Use Reserve funds: Create a reserve fund for yourself. Make a habit to save some money every month, however small the amount may be. You can use this money in case of urgent requirement.
- Reduce daily expenses: Smoking, unnecessary traveling, spending time with friends at restaurants / cafe, unnecessary phone calls etc. count a lot at the end of the month. So try to avoid Meeting and Sitting for a few days.
- Keep away your credit cards: Cash withdrawal from credit card account can prove to be highly expensive as the banks charge a very high rate of interest for this. So just forget about your credit cards, at least for a few days.
- Take short term loan according to your requirement: You can get shot term loans from banks. In order to get a loan, you may be asked to use your Long Term Deposit certificates as security. Bank people may suggest you to go for premature withdrawal of the term deposits, but it won’t be a wise decision.
PAN Card – The country’s need of the hour
Posted by admin on Sep 11, 2010
Income Tax is a matter of high concern for all of us. It’s one of the major sources of income for the Government of any country. A country’s overall growth depends on how its citizens pay taxes. It’s our moral duty to pay taxes on due time. But in India, many businessmen, investors, professionals find tricks to avoid this. Sometimes few big shots come into picture for an overdue of heavy amount of income taxes. This is the reason why the Government is unable to deliver proper services to its citizen and employ ways to cover up by imposing additional taxes. So, it increases the suffering of the mediocre people.
Many investors, companies invest money in the share market, mutual funds etc. and suck the honey out of it. Govt. remains totally unaware of their activities due to the improper tracking system. The big scams in the share market happen, because the concerned department can’t scan them out in time. Thus the Indian Economy keeps deteriorating day by day due to these black money makers. The value of Indian currency keeps descending on a regular basis.