How do you manage your saving?

I would like to know how do you all manage your saving for short and long term.

How do you manage your saving?
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5 Replies to “How do you manage your saving?”

  1. your first ans reply is mfss trading allowed by sebi but it will take some time to start online trading
    online trd. through bsense would be costlier than buy through any ad visor

    second ans : you can invest EL SS ilkes Birla ’96/sundaram bnp paribashdfc tax saver funds

  2. Its all about planning ahead
    Having worked out how much can be saved….
    Income less necessities less spends (Luxuries) = Savings the decision then needs to be made around tying money up (Term) as well as Risk and what the money is for and what your preferences are regarding what you want it to do for you
    If you want to pay off your mortgage before planning your retirement then so be it
    You may want to save for a deposit of for a car or just to have an emergency fund you can get at.. everyone has different priorities but whatever your are allocate the money accordingly.
    Then all you have to do is get the best product taking into account risk, returns (interest / growth) Term, accessibility, penalties etc then do it and stick to it

  3. The problem with most people who are unable to save money is because of lacking the financial goal. Saving should be budgeted in parallel with debt. Take advantage of the company contribution, tax deductible saving plans. The first financial goal is to save to pay off the debt. If you have your own house, this is your first goal. Important, once the debt has been paid off, don’t assume the same burden again, where possible. Avoid debt, as less as possible. A house could never belong to you until the debt is paid. Your interest payment would scare the hell out of you. Pay yourself first. Life insurance is not a saving, nor investment. Instead of buying a whole life insurance, buy term life insurance and put the different in investment. Luxurious is not something a lot of people need. Look beyond the luxurious, it costs a lot of money to keep up a high life. Frugality is also a way of life, cut the unnecessary. On average, there are 30 years in our life do not belong to us, this 30 years , from 25 to 50 belong to our employers and family. Nonetheless, this is the only time that we are able to achieve our financial goal.

  4. Most of my savings go into fixed deposits, stocks and investments that bring in returns on a long-term basis. But I also make sure that there’s adequate insurance cover that takes care of my basic needs that may arise in the future.

    I’ve also opted for Future Generali’s Select Insurance Plan ( SIP ), its a ULIP (, but you can pay premium as low as 2000 on a monthly basis, which acts as forced savings, as generaly dont give enough attention to savings. At the same time, its also investment plan, improving my chances of better returns on money invested.

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