Saving

On this Children's Day, let's talk about why teaching financial literacy to kids is essential! Payal Tiwari Sharma of Moneycontro explains how to impart money management skills early on to set them up for a financially secure future. Don't miss these valuable tips for raising financially smart children!

Why a whole new generation of Indians needs to be taught the virtues of saving

Household savings as a percentage of GDP plunged to 5.1 percent in FY23, the lowest in nearly half a century. A sustained fall in savings rate does not bode well for India’s growth

Falling household financial savings will hurt investment and growth

The average growth of financial assets and liabilities in the period 2000-22 was 12.4 percent and 21.6 percent, respectively. With financial liabilities growing faster than financial assets, we are seeing a slower growth in financial savings

Only 16% Indian households plan to invest in 2023 amid market volatility, rising rates : Axis My India Survey

Child education remains the most prioritised goal for most Indians, with 34 percent of the surveyed by Axis My India saving their money for it.

Focus on being skilled, success and money will follow: Nithin Kamath

Not more than 25% of the money earned should be spent on material things such as cars and bikes is Kamath's advise to youngsters. "Investing in experiences will make you more intellectual than anything else ever will,” he says in an interview to Moneycontrol

Children’s Day: How to talk money with your children?

It is important to clarify the difference between saving and investment from an early age. Because very often, this confusion continues into adulthood.

Retirement Saving Scheme: How to earn 50,000/month from National Pension Scheme (NPS)

Retirement Saving Scheme NPS: If you want to get a monthly pension of Rs 50,000 from NPS, you need to back-calculate the corpus requirement based on the 40% annuity rule. If you only use the mandatory 40% NPS corpus for purchasing annuity, then at an annuity rate of 6%, you need a Rs 2.5 crore NPS corpus. Of this, 40% or Rs 1 core will be used for purchasing annuity. This annuity (at 6%) will generate Rs 6 lakh yearly or Rs 50,000 monthly pension. Remember, this is when only 40% corpus is used for annuity purchase. You then also get Rs 1.5 crore (remaining 60%) as lump sum tax-free withdrawal. The numbers will change for different annuity rates. Watch the video to know how to make 50,000/month from NPS

How to use increments and bonuses to boost finances wisely this year?

A bonus can be used to clear credit card or personal loans, and if that doesn’t help, then a part of the salary increment can go towards repaying dues

Having a low-key wedding during the pandemic? Here’s how it can boost your finances

The money saved from a low-profile wedding can be used for the couple’s financial security or for cash strapped parents’ retirement

Modi 2.0: 10 policies that affected your savings and investments

A year into the second term, how have the Modi government’s decisions impacted your finances? Team Moneycontrol takes stock of some key decisions.

Five steps to ensure your domestic help becomes moneywise

Here are a few simple ways to add a lot of value to the financial condition of these indispensable women

Prioritise investments when saving for multiple goals

Those who invest randomly are generally not so sure whether they are on track to meet their goals

Here's how you can achieve financial freedom and embrace your inner globetrotter

Funds, or the lack thereof, can throw a spanner in your travel plans and clip your wings until you find a solution, attain financial freedom and make your dreams come true

Taking risks will inch you closer to financial independence, here’s how

Invest as per your goals and you could turn out to be a successful investor.

Become financially free, buy what you want with this tiny habit

Just stashing cash won’t make more money, you will have to make it work.

How to save your first Rs 1 lakh? Here are some valuable tips

Here are a few tips that will enable you to cross the first saving milestone.

Personal finance: What happened to your money this week?

As the Narendra Modi Government completes 3 years in office, it is time to keep a track of our money matters and stick to our financial plan.

How to balance spending and saving in early career to create long-term wealth

Financial planners suggest drawing up a budget for the month and setting aside a fixed portion of salary as saving to be invested to create wealth.

Rs 30 saved per day for 25 years could help you become a millionaire

Always remember that one must start saving and investing as early as possible to reap benefits once you take control of your financial destiny.

Why should you save?

If we could visualize our tomorrows, we would be able to save more and save better.

Why you should prepay home loan now & ensure long term saving

Pre-payment reduces your interest burden, reduces the tenor of your loan, and ensures long-term savings for you.

Budget 2017: Tough job for finance minister of meeting too high expectations

The GDP growth forecasts have been affected by demonetisation, which in turn has led to high expectations of a budget which will cut taxes, incentivize savings, raise more revenue, be anti-inflationary and push growth

Note ban jolts economy, RBI to cut rate by 25 bps: Experts

The Reserve Bank of India (RBI) is set to annouce its bi-monthly policy on December 7. Market and bankers are betting on a 25 basis points reduction in the interest rate.

How to estimate your child‘s college education cost?

Education costs are soaring much faster broad inflation in the economy. It is better to estimate it right so that you can fund for your child‘s education.

Five money lessons my son taught me

Personal finance is all about common sense. Wear your thinking hat and you get it right.