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Money Magazine - How To Ensure Your Parents Have A Safety Net?

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One of the biggest sacrifices you can make as a parent is to ensure that you make your child your first priority at all times. With the amount of different expenditures that come with having a child, insurance is one of the most important ones. Similarly, as an adult, it is important to think about your aging parents as well. For many, retirement and pension funds are just not enough. As you get older, it can be harder to get good comprehensive medical and other insurances as well. So, a safety net for your parents is definitely something you need to take care of immediately. While many companies offer you health insurance benefits that can extend to your family including your parents, it cannot also provide the amount of coverage you need. So, here are few ways in which you can provide a safety net for your parents. Mutual Funds Many parents’ still get pension and retirement funds which is their major form of income once they are retired. You can help your pare
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Money Magazine - Rent These For A Good Lifestyle and Save Several Bucks

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With the economy taking a downhill in recent years, people are either losing their jobs or getting paid less than before. Hence, they are finding it very difficult to maintain their previous lifestyle. If you are one of those who have lost his high paying job or your paycheck has dwindled, do not worry, there are some simple tried and tested tricks and hacks that will enable you to face the tough situations life will throw at you. One such trick is to rent stuffs instead of buying them. Owning things may seem cool, but renting certain things you only need occasionally is a wise financial decision. It not only helps you to save money while maintaining your lifestyle, but also has a positive impact on environment. When you rent things instead of buying, it will conserve the massive energy required to produce new products. For example, if five people rent a car instead of buying individually, then a single car is manufactured, instead of five and huge energy is saved as f
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Money Magazine - What Exactly Does Filing of Income Tax Return Mean?

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The months of July, August and September in India are the busiest months for chartered accountants, such as myself, with the filing of Income Tax Returns. I have a lot of friends who, when asked, to complete their filing of income tax return, tell me that they have completed all their timely advance tax payments for the previous year in March. They say they have made advance tax payment for this quarter too also as they have completed one quarter of the next year. They are confused by this request. IS FILING OF INCOME TAX RETURN AN ADDITIONAL COMPLIANCE PUT ON TAXPAYERS BY OUR GOVERNMENT OF INDIA?
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Money Magazine - Taxation On Small Savings Schemes

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One way of easily saving all that loose change that you have had at the bottom of your bag or wallet is by investing in the small saving schemes. Relatively easy and much cheaper than the premiums you will pay for higher insurance and savings, small saving schemes are used by all. Starting from just Rs.10 and with a maximum limit in six digits, you can pay a premium that you can afford. Although you have good investment and savings opportunities available in different banks now, it is crucial to still have a small savings scheme for the save and secure investment along with good returns. There are many taxation benefits on the different type of small savings schemes that are available. Check them out to make an informed decision:
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Money Magazine - EWallets - New Way To Cut Down Expenses

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This year, the RBI granted licences for payment banks to 11 entities. As e-wallets are expected to play a key role, you can start using these for discounts, cashbacks and other incentives. This, even as players like Paytm, PayU and Mobikwik are already offering significant cashbacks.
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Money Magazine - Every New Credit Card User Must Know This

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Credit cards are excellent financial accessories that allow you to purchase goods without cash. But apart from being just another financial tool, they are a lot more. Using your credit card responsibly will help your build your credit score, provide you with cheaper insurance plans and even get loans at better interest rates. Moreover, by using credit cards you can earn rewards and discounts on everyday purchases. While these reasons might have appeared very fancy and let us assume that you’ve already applied for your first credit card, as a first time user, there are also a number of important things that you should keep in mind before swiping your card.
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Money Magazine - How does changing jobs impact your Taxes ?

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Better job prospects, higher salary, attractive work environment, travel opportunities, unendurable circumstances in the present job, uncertainty or downsizing;  irrespective of the reason, you are likely to switch jobs at some point in your life.
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