Saving Smartly! 10 Quick Tips To Get You Started

Money saved is money earned. Make this your mantra in 2015 and begin your journey on the road to riches. Work fetches money and that is what keeps us going. But how about money fetching more money?

That's exactly what your goal should be. And the first step for that is learning to save. It does not mean you cut down on occasional weekend dinners or not give in to the retail therapy once in a while. Saving need not be boring. You just need to think a little and make it a part of your lifestyle. Make saving a habit by being intelligent, creative and join the cool 'rich' club.

#1 Review that home loan
Take time out to review the interest that is paid on your home loan. There is so much competition for this product in the market and you must take advantage of this. Make sure your bank is giving you the best deal. If not, compare and negotiate!

#2 Too many cards kill the budget
Empty those credit cards from your wallet and pick two which you want to continue with. The deciding factors should be reward points and low interest rate. Since, most of the time, one credit card carries only one of these benefits at a time, it is a good strategy to retain two cards. Having limited cards also helps keep a tab on spending habits. Spending is done more consciously and unnecessary expenses are automatically cut down.

#3 Savingup tips for car loans
Negotiate for better rates using your CIBIL credit score. Lenders often offer lower rates for borrowers with better CIBIL scores. Also, make sure you don't finance the car add-ons. For the accessories or add-ons check with local dealers for better rates. That way it turns out to be a cheaper option, rather than paying interest on it up to the entire loan repayment.

#4 Get organized and play CID
Arrange for all bills, statements, etc. to reach you before a pre-decided date every month. On a weekend evening, analyze and check for mysterious charges. This habit will also help you recognize your spending patterns. These can then be corrected or can be planned for in advance thus helping you in the save money mission.

#5 Plan ATM trips
Impose a restriction on your ATM visits. This simple act helps in numerous ways. Expenses are planned in advance since cash needs to be withdrawn accordingly. There is no room left for temptation to withdraw cash whenever an ATM is in the vicinity. Many banks have started charging customers for ATM usage when the number of transactions cross the permitted transactions number. By planning withdrawals in advance one can easily avoid bearing such charges.

#6 Savings while getting insured
No one understands your needs like you do. Do your homework and work out your own insurance amount. Agents have a tendency to talk you into more. Also, before buying any new insurance check if you are already adequately covered under an existing insurance scheme. If not, go in only for the additional amount. It is also a smart thing to shop around a bit after you have worked out the requirements. Go for an insurance plan that suits you the best. And while at it, remember that insurance works best when it is not coupled as a saving plan.

#7 Track your expenses
Have a personal tracker to keep a check on your daily expenses. Either maintain a small diary if you are old school, like geeks do or download a mobile application which will help you with this. Analyzing expenses on a regular basis can prove to be a very effective way to save on expenses which are not accounted for or are unnecessary.

#8 Choose banks wisely
Take stock of all the bank accounts and lockers which you own. It's time to de-clutter and get organized. Shut down accounts which have not been used for regular transactions since six months or more. Also, check on the lockers currently in use. It is not uncommon to change lockers along with a change in address. However, the old lockers remain in your name. Closing old accounts and lockers can free up the deposit money which can be reinvested as per your own.

#9 Save up during sale season
Retail therapy indulgence reaches new levels during the sale season. While discounts on products leave you with some free money after the purchase, why not make this free money work for you. Next time you avail a discount, deposit the discounted amount into your savings account and incorporate it in the investment plan.

#10 Don't leave your investments unattended
While one does feel a sense of relief after planning, choosing and implementing an investment scheme, it is important to note that these investments need to be reviewed regularly. A decision made two years ago may not be fetching the same returns today. Analyze and decide your next investment move accordingly.

Saving is not a onetime plan but a way of life. This is one habit which will fetch positive returns right from the moment you start. May you save up heaps this year only to multiply your wealth for the years to come.

Courtusy: Rajiv Raj
http://www.businessinsider.in/Saving-Smartly-10-Quick-Tips-To-Get-You-Started/articleshow/45882112.cms?utm_source=TOInewHP_TILwidget&utm_medium=ABtest&utm_campaign=TOInewHP

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Ten Simple Ways to Boost Your Vision

With computers, tablets and mobile phones, we are constantly staring into screens and forget the damage it does to our eyes. It's time to give your eyes some rest and the TLC they need. Follow these tips to improve your vision and care for your eyes.

Relax your eyes: From the time you wake up until you sleep, your eyes are constantly working. Relax them at intervals. Rub your palm together briskly to ignite warmth in your hands. Cup your palms over your eyes and let them relax. Repeat this ​exercise ​through the day especially if you are constantly working on a computer.

Maintain moisture: It is important for your eyes to be moist. Dry eyes can be itchy, red and painful. So from time to time, give your eyes a break and blink to main moisture in your eyes.

Eye exercise: Even your​ eye muscles require exercise. So do the 20/20/20 exercise as often as you can. Every twenty minutes focus on an object for twenty seconds which is twenty feet away from the eyes. This exercise will help your eyes feel better.

Increase flexibility: Don’t let your eyes stay positioned at one place. Roll your eyeballs about five times at several intervals to increase the flexibility of your eyes and maintain good eyesight.

Decrease screen brightness: If you are working for hours together at the computer, keep the screen brightness​ minimal​. This will help your eyes relax and prevent them from getting strained.

P.S. Don’t decrease the brightness so much that you have trouble reading the text.

Take small breaks: Your eyes need rest too. If you work for long hours at a computer, take short intervals every two hours. If you can’t move around, close your eyes for ten seconds and relax. This will prevent your eyes from getting strained.

UV rays are harmful: Wear a good pair of sunglasses, especially ones that provide UV protection. This actually helps improve your vision.

Feed your eyes: Veggies like carrots, blueberries, apricots are high in beta-carotene that is ​good for eyesight. Include these items in your daily diet to see visible results​.

Avoid wearing lenses too long:  If you already suffer from poor eyesight, don’t worsen it with various contact lenses. Do not wear lenses for more than 19 hours a day and never sleep with your contact lens on. Also, don't forget to clean your lenses regularly.

The cucumber trick: Place slices of cucumber on your eyelids. Cucumbers contain ascorbic acid and caffeic acid which prevent water retention. Cucumbers are considered the best treatment for inflammation and dermatitis of the eyes.​


Courtesy: http://idiva.com/

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How to become a millionaire: Here are the 10 steps

Getting rich and becoming a millionaire is a taboo topic. Saying it can be done by the age of 30 seems like a fantasy.

It shouldn't be taboo and it is possible. At the age of 21, I got out of college, broke and in debt, and by the time I was 30, I was a millionaire.

Here are the 10 steps that will guarantee you will become a millionaire by 30.

1. Follow the money. In today's economic environment you cannot save your way to millionaire status. The first step is to focus on increasing your income in increments and repeating that.

My income was $3,000 a month and nine years later it was $20,000 a month. Start following the money and it will force you to control revenue and see opportunities.

2. Don't show off. Show up! I didn't buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income. I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.

3. Save to invest, don't save to save. The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency. This will force you to continue to follow step one (increase income). To this day, at least twice a year, I am broke because I always invest my surpluses into ventures I cannot access.

4. Avoid debt that doesn't pay you. Make it a rule that you never use debt that won't make you money. I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.

5. Treat money like a jealous lover. Millions wish for financial freedom, but only those that make it a priority have millions. To get rich and stay rich you will have to make it a priority. Money is like a jealous lover. Ignore it and it will ignore you, or worse, it will leave you for someone who makes it a priority.

6. Money doesn't sleep. Money doesn't know about clocks, schedules, or holidays, and you shouldn't either. Money loves people that have a great work ethic. When I was 26 years old, I was in retail and the store I worked at closed at 7 pm. Most times you could find me there at 11 pm making an extra sale. Never try to be the smartest or luckiest person — just make sure you outwork everyone.

7. Poor makes no sense. I have been poor, and it sucks. I have had just enough and that sucks almost as bad. Eliminate any and all ideas that being poor is somehow OK. Bill Gates has said, "If you're born poor, it's not your mistake. But if you die poor, it is your mistake."

8. Get a millionaire mentor. Most of us were brought up middle class or poor and then hold ourselves to the limits and ideas of that group. I have been studying millionaires to duplicate what they did. Get your own personal millionaire mentor and study them. Most rich people are extremely generous with their knowledge and their resources.

9. Get your money to do the heavy lifting. Investing is the Holy Grail in becoming a millionaire and you should make more money off your investments than your work. If you don't have surplus money you won't make investments. The second company I started required a $50,000 investment. That company has paid me back that $50,000 every month for the last 10 years.

My third investment was in real estate, where I started with $350,000, a large part of my net worth at the time. I still own that property today and it continues to provide me with income. Investing is the only reason to do the other steps, and your money must work for you and do your heavy lifting.

10. Shoot for $10 million, not $1 million. The single biggest financial mistake I've made was not thinking big enough. I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.

Apply these 10 steps and they will make you rich. Steer clear of people that suggest your financial dreams are born of greed. Avoid get-rich-quick schemes, be ethical, never give up, and once you make it, be willing to help others get there too.

Courtesy: http://timesofindia.indiatimes.com/

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Booking Tatkal ticket

Keep all details ready
Netbanking username/Pasword
Netbanking username/transaction password

Document ID no you travelling with : Pan card no.


---------------------------------


fill From
fill To
fll date
quota-- general


Try to find out the GNWL list of big junction station

--don't really on your computer time, really on the watch time at near the welcome username in top right corner

Just before 10(around 9:55 AM) change quota as Tatkal

Once it 10:00 go for reservation

Bank login username and password
Once it login to bank site click on the "Pay" button
Give username and transaction password:

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How EMI’s Principle and Interest breakup is done

http://www.jagoinvestor.com/2011/04/loan-amortization-emi.html

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EMI disease

http://www.jagoinvestor.com/2010/07/the-emi-desease.html

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How to save tax while selling a house

Timing is critical in finance, especially if you want to make a profit. Of course, you need to pick a good time to take advantage of the appreciation in value, but it's equally important to keep an eye on the calendar to avoid paying a hefty amount as tax. It was a lesson learnt well by Mumbai-based Benny Abraham when he sold his house in 2011 within two years of purchasing it. "The property was fetching me nearly 60% in profits on the initial investment , so when I got an offer to sell it, I immediately agreed," says Abraham, a brand consultant. Unfortunately , the 50-year-old had no clue about the tax implication of his hasty decision. Not only did he have to pay a substantial amount as tax on the profit, he also had to shell out the tax exemptions that he was availing of on the home loan.

This is because under the Income Tax Act, if you sell a house within three years of buying it, the tax benefits on the principal repayment and interest paid on the home loan are reversed . These are then included in your income when you file your tax return. Also, if a house is sold within five years of the end of the financial year in which it was purchased, all the deductions claimed under Section 80C with respect to the property are added to the taxable income in the year of sale.

Capital gain and indexation

Real estate is regarded as an asset, so the profit from its sale is assessed under the head 'capital gains' . According to Manish Thakkar, director of Mumbai-based Thakkar Consultants, if a property is sold within three years of buying it, it is treated as a short-term capital gain. This is added to the total income and taxed according to the slab rate. However, if you sell a property after three years from the date of purchase, the profit is treated as a long-term capital gain and is taxed at 20% after indexation . While you can avail of various tax exemptions in case of long-term capital gains, no such benefit is provided for short-term ones.

One of the advantages associated with long-term capital gains is the inclusion of indexation while determining the profit. Indexation is a method through which the seller is able to inflate the value of his assets. Since inflation reduces the value of an asset over time, it is essential to increase the initial cost of the house to calculate its current value. This is done by multiplying the original cost price with a factor that is issued by the Central Board of Direct Taxes. This factor tracks the increase in the general price level, or inflation, and is known as the cost inflation index (CII). It is notified by the central government for every financial year. The Income Tax Act considers 1981-82 as the base year with a cost inflation index of 100. So, the CII for 1982-83 is 109, and so on.

The indexed purchase price can be calculated as—purchase price x (CII for year of sale / CII for year of purchase).

The indexation of purchase price helps to reduce the net capital gain, thereby slashing the tax burden for the seller.

Reduce your tax burden

You can claim tax exemption under Section 54 on the long-term capital gain on the sale of a house. "To avail of this exemption, you must use the entire profit to either buy another house within two years or construct one in three years. If you had already bought a second house within a year before selling the first one, you could still avail of the tax exemption," says Pankaj Ghadiali, tax expert at PC Ghadiali & Co Chartered Accountants .

"Such capital gain exemption is reversed and the amount taxed as capital gain if the new property is sold within three years of the date of purchase/construction. This profit will be considered a short-term gain and taxed at the normal slab rates, not the 20% beneficial rate," says Sonu Iyer, tax partner, Ernst & Young.

You can also utilise Section 54 (F) to avail of exemption on the longterm capital gain made from the sale of any asset other than a house. Again, the sale proceeds should be invested only in a residential property , not a commercial property or a vacant plot of land. However, to avail of this benefit, you should not own more than one house.

The long-term capital gain tax can also be saved under Section 54 (EC) if the capital gain is invested for three years in bonds of the National Highways Authority of India and Rural Electrification Corporation Limited within six months of selling the house. However, you can invest only up to 50 lakh in a financial year.

The sale proceeds will be calculated on the basis of the valuation adopted by the state's Stamp Duty and Registration Authority and will not be the amount mentioned in the deed of conveyance. This is intended to cover the cases where a portion of the sale price is received by the seller as unaccounted for cash.

If you miss the due date

It's possible that you are not able to make the required investment to avail of the exemption on capital gains before the due date for filing your tax return. In such a situation, the amount of capital gain or net consideration , as the case may be, has to be deposited in a separate account in a nationalised bank under the Capital Gains Account Scheme (CGAS) before the last date of filing your return for the relevant year. There are two types of such accounts—type A is a savings deposit and type B is a term deposit. The interest rates for these are the same as those for regular savings and term bank deposits. The proof of the deposit can be attached along with the tax return in order to claim exemption.

Author: Amit Shanbaug
Courtesy: TimesofIndia

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