Money Magazine ( Money logs )

Savings go a long way in taking you out of troubles during rainy days but not everyone has enough money saved in their savings account that they can look up to in the time of need. Creating a good savings habit is a must in today’s times because expenses are increasing while salary hikes happen sparingly.

We are living in a world full of distractions, and if you want to spend money on everything that puts a glitter in your eye, you will bring your savings to nil at no time. While it is true that you earn money to enjoy your life, certain adjustments are required If you want to make the most of your hard earned money.

Knowing how much of the income tax you have to pay for previous financial year can help you a lot with managing your finances better. For everyone who pays income tax, it’s absolutely a must thing to know how income tax they pay is calculated.

Managing money is one task each and every one of us is confronted with on an everyday basis. Most often it is seen that one works very hard, earns well, splurges and then there is hardly anything left for the proverbial rainy day. This vicious cycle continues and when an emergency pops up, one is left to face the ugly truth that you may be broke. In such a situation it would be worthwhile to consider what are some of the bad financial habits that makes one go broke. Being financially independent doesn't mean earning alone, it means using your money judiciously and at the same time making money work hard for you.  

Credits cards, no doubt, give you purchasing power. You go on a shopping spree on your credit card and pay later on. But, once you get into a debt trap, you get into a vicious circle and then it becomes very difficult for you to get out of it. Most people know this fact in principle, but are unable to understand how things pan out. It is most common among youngsters who have just started with their jobs and get hands on credit cards.

Cost of living is increasing day by day and sometimes your daily job is not enough to cover all the expenses. At such times, having a side job can be a blessing as you can get extra money from outside your job to cover for all the expenditures that you incur. While it was difficult to earn side money a decade ago, the world has changed now. Earning side money using the internet is very easy today and requires little of your time and effort. Since the online jobs give you flexibility, you can easily manage your job and your side business hand in hand.

The advent of credit cards has given rise to a cash free culture all around the world and India is no different. As more and more people are developing an affinity towards using credit cards, it becomes important to understand how credit cards are issued and why is a credit card application declined.

The month is about to end, your bank account is taking its last breaths and you are going through e-mails and text messages to check where you have spent your month's salary. Tracking all such notifications can be a pain and that's why you should give your smartphone a chance to simplify things for you. Here are the best money management applications you should consider to manage your expenses.

It is often said that “Money makes more money”. At first this might sound obscure, but yes, it is a fact that money can and it does make money. Let me tell you how you can make your hard earned money, work for you.

Do you want to invest your money in way that it multiplies to give you multi fold future benefits? Well, a good investment is a result of adequate research and a few precautions.

Investment is the best way to secure your future financially. While all of us want to invest our money, each and every individual investor has different goals when he thinks of investing his money. These goals can be short term as well as long term. If you are looking to invest your money for a short time period, there are a variety of short term investment tools available at your disposal.

Your money and your finance need your intelligence to stay afloat. You need to be super careful with your finances from very early on in your life. Finances, they say needs to be handled with care just as you care for your loved ones. After all it is a materialistic world. It is however seen over decades that there can be some very basic mistakes that people make when it comes to handling their finances. Below are enlisted the six fearful and catastrophic financial mistakes that you can make Did not save money when you were in your prime : Yes, you have been bright and life has been kind to you. You have had the most fantastic time building your career and things have been working just fine for you. When the going is good, we tend not to think about saving for the rainy day. This could be a fatal mistake from your end. Just when the tables may turn for you, it is very difficult to predict. Hence, be prudent about your savings.

Unprecedented financial emergencies can put a dent in your funds. Having accessible and ready cash supply can benefit you in times of unforeseen expenses such as credit or debit card debt, pawning of valuables and other emergency costs. Several advisors will suggest you to set aside cash for a minimum three or even six months. However, time and amount of cash you have to save are two crucial factors that need to be considered. It always pays to make a conscious decision with regard to items that are worth purchasing and the money that you will be saving.

While everyone knows the disadvantage of the credit card, here are some of the advantages. Credit cards are the no-fuss cash alternative. They're also a helpful tool when it comes to emergencies—but the advantages of credit cards go far beyond mere convenience. Here's how to get the most from your credit card.

In today turbulent and uncertain economic conditions, followed by unrest in socio-political factors, financial planning has become order of the day. This holds true for people associated with business or working class professional to a homemaker. It is imperative that one invested money in plans that yield benefit. There are several reasons that might hinder financial planning, even if one has made wise investment.

Ask any financial expert about your options to invest your money if your time horizon is more than 5 years. The chances are high that he will suggest equity MF's as the best option. Now ask him what are the best option if you want to invest for less than 5 years. The chances of him suggesting equity MF's now will be much lower. But this is a common concern for many people. People these days don’t have 5 years to wait. They cannot invest for such a long time. So what are the best options for someone who needs his money back, with decent returns in less than 5 years? The answer to this question will depend on the time that this person can wait. So assuming that the deadline can be anywhere between 3 months and 5 years, let’s explore the available options.

At the end of every financial year, many tax payers frantically make investments to minimize taxes, without adequate knowledge of the various available options. The Income Tax Act offers many more incentives and allowances, apart from the popular 80C, which could reduce tax liability substantially for the salaried individuals. Here are seven smart tips to help you save more and reduce taxes.

Money Magazine is a textbook for money management ironically which is not thought by our so called “Education System” yet we have to go through it every day. Indian education system is designed to crib your creativity, kill everything your passionate about, loot your money even before you start earning and throw you into the world whitout even teaching how to get profit out the investment you made in so called education.

Oh shit money is nothing but emergency fund which is very resourceful when you are stuck in Oh Shit Situation. Let’s call it Oh Shit Kitty. An Oh Shit Kitty is an easily accessible stash of money for use only in case of oh shit situation. It is not to be used to buy a new car. It is not to be used to buy a new PlayStation. It is not to be used to remodel your bathroom. It is for use only in case of emergency.

Rule OF Saving 75:15:10 75:15:10 is the most popular rule of saving around the world. All you have to do is divide your monthly pay check to three parts 75 Needful Rupee 15 Safest Rupee 10 Sweetest Rupee

Getting Rid Of Student Loan First things first: If you have student loans, you aren't doing yourself any favors by waiting to see if your lender notices you've graduated. Some loans have what's called a "grace period," or a year gap after you're finished with your education, ostensibly to allow you to set up an income. The thing about grace periods, though, is that interest continues to accumulate - so if you can start making payments immediately, it can ultimately save you money.