Money Magazine ( Money logs )

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

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

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?

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:

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.

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.

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.

Saving when becomes habit, increases your bank balance steadily and after a while makes you wealthy.  Savings have many forms but saving on food is somewhat different. No one seriously thinks about saving on food as no one saves on necessities. But a few smart ways can save you a considerable amount in this department.

Bank account is engrossed in everyone life. Bank acts as a guard to your money which instead of charging some amount provides an interest on money deposited. Moreover, it facilitates various other services for daily requirements such as making payment on your behalf, keeping your valuables safe in the locker, etc. 

Is chaos the first word that pops into your mind when you think of your finances? Take our seven steps to straighten out your financial life and regain control over your money… Life’s fast and 24 hours are so not enough these days. In between career, kids and commute, you have little time to think about reviewing your finances, let alone actually planning them. So, the bills pay themselves and your financial life follows its own course. While that’s understandable, it’s not advisable. Letting fate take over your finances may land you in some uncomfortable situations. Here’s a seven-step guide to organizing your financial life.

"There is no greater Harm than that of time wasted." ~ Michelangelo We are all aware of the artistic genius that was Michelangelo and his most beautiful piece of work: the Sistine chapel in Rome. Before you think there’s no link of him to money, let me assure you there isn't; but for this beautiful quote of his that cannot emphasise more the value of time. I've often heard friends /clients say " I'll start saving once I get married, I'll start saving once I'm 30, I'll start saving once the sun rises from the west " etc.. The excuses are many.

Start your Tax Planning for March 31 2016 From Today ! You read it right. We are indeed talking about tax planning for the year 2016 and not 2015. Surprised? Don’t be. And all those who tell you that tax planning is a year-end activity are wrong.  In reality, tax planning is an activity, which should ideally be carried out during the start and not the end of the year. In all likelihood, you would have just finished the task of investing for the purpose of tax saving in 2015 about a month back.