Personal Finance 101

Personal Finance 101

A few tips to begin with managing your money more efficiently are given below:

  • Compare savings and deposit interest rates offered by banks before parking your funds with bank.
  • Do you know there is No tax liability on interest income in savings account upto 10000 per year ?

However, do not confuse this with interest earned from fixed deposits.

Plan your interest income in savings in such a way that you can avail of this cool hack to maximum limit of 10000/-.

Understand how  interest is calculated by the banks.

The interest is now paid quarterly instead of biannually mode, so you can apportion your idle funds accordingly .

Compare brokerage rates offered by trading companies before dealing in secondary market.Don’t hesitate to negotiate.

Don’t let your funds lie idle in savings account if you wish to get  the best bang out of your bucks.


  • Start investing into mutual funds via SIP route.
  • If you’ve done your homework well, invest in a good stock when market falls.
  • Use credit cards wisely to enjoy free reward points.
  • Compare credit card benefits before zeroing in on one.
  • Pay all your bills via one card to accumulate more points.
  • Avoid loans that you can manage without.
  • Cultivate a habit of saving money.
  • Remember, the money you save grows more money in return.
  • Always be on the lookout of good investments into assets.
  • Read “Rich Dad ,Poor Dad.”
  • Read  and bookmark leading personal finance pages. Waste less time on social media.
  • File your taxes on time.
  • Critical: Take a term plan and a health insurance plan for self and family.
  • If possible, insure your house , car and other expensive items also (General insurance)



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