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  Savings, cushion, nest egg, buffer,   emergency fund   – whatever you call it, you’ll never be sorry to have extra money. In fact, the sooner you start building savings, the sooner you can reach your financial goals, like making a major purchase, going on a trip, working on home repairs, or even retiring. Start by knowing how to create a savings plan First, map out your financial priorities based on goals. A new home, a new car or a vacation are all great examples of goal-based savings. Having defined goals makes saving money more meaningful and will also help you stick with it. If you don't already have a savings account, you’ll need to open one. Look for a bank that offers savings accounts that earn interest. To prevent yourself from being tempted to dip into your savings, you may want to set up your account at a different bank than your primary, so it’s not as easy to access the funds. Also consider not getting a debit card for the account. Now that you’re ...

  A rupee saved is a rupee earned, goes the saying. But just saving is not enough, your money should grow according to your needs. And how do you achieve that? The answer is simple – through investments. By investing your savings, you can multiply the amount, all while you are busy saving some more.     There are many short- and long-term options available, so it’s up to you to choose one that takes into account your future needs, and the amount of money at your disposal. Even if you exclude the options most people are familiar with – Savings Account, Fixed Deposits, Insurance, Gold, Real Estate, and Public Provident Fund – there are many other instruments available to help you grow your money and secure your future.  1. Recurring and Fixed Deposits   People looking at saving money often ask whether investing in a Recurring Deposit (RD) is a better option than a Fixed Deposit (FD). While FDs and RDs are few of the safest forms of investment available, ...

  If you’ve been on the fence about doing your banking online or through a mobile app, now is a good time to get started as financial institutions change their branch hours during the COVID-19 pandemic. Online and mobile banking allow you to handle your finances from the comfort of home. Begin online banking with a few steps As long as you have a computer or smartphone with access to the Internet and an account with a bank or credit union account eligible for internet banking, it’s easy to get started. Gather your account numbers Your account numbers should be on your paper statement. Your account number will also be on the bottom of your checks or deposit slips. They are needed to enroll your account. Find your bank or credit union’s website Look on one of your paper statements or on the back of your debit or credit card to find the website, rather than googling or clicking on links in an email or text. If you visit your bank’s website from your smartphone, you may be prompted to ...

Thanks to modern technologies, banking is now easier and convenient than ever. However, while banking functions are now available at your fingertips, there has also been a significant rise in the number of banking frauds. Check out this post for some essential banking tips to ensure better safety. The modern technologies, combined with the initiatives by the government and the banks, have made banking services more accessible in the country. As per a report, around 80% of Indians now have a Savings Account. However, while the number of people with bank accounts has increased considerably in the past few years, the same is true for banking frauds as well. From identity theft, phishing, vishing, skimming, to a host of malpractices at the ATMs, there are now several ways in which a customer can be deceived. If you are concerned about banking safety, here are a few safe banking precautions every customer should use- 1. Debit and Credit Card safety Debit and Credit Cards have made our lives...

  Banking can be complicated, with thousands of banks to choose from that each offer an exhaustive set of disclosures and fine print. And then there’s the rates and fees, all of which need to be considered carefully before you sign on the dotted line. But these tips and tricks can help you bank smarter — so you can earn more money and save time. 1. Reevaluate your bank The average U.S. adult has had the same primary checking account for about 17 years, according to a 2021 Bankrate survey. Customers often stick with the same bank if it doesn’t charge them fees or if they feel it would be a hassle to switch banks, the survey found. “Just don’t fall asleep at the switch,” says Greg McBride, CFA, Bankrate chief financial analyst. “The marketplace is constantly changing with new offers, innovative products and features that might put more money in your pocket or make your life easier. Or both. So it pays to have your antenna up and be on the lookout for something that is a better d...

How to Read Quickly and Understand Whether you skim a blog post, peruse documents to your work, or navigate through a book, you most likely do some sort of reading every day. But slogging through dense passages of text can be time-consuming, mentally exhausting, and hard on your eyes. If you would like to read faster while keeping reading comprehension, have a look at these seven tips. 1. PREVIEW THE TEXT. Viewing a film's trailer before viewing the movie gives you context and lets you know what to expect. Likewise, previewing a text prior to reading it disturbs you to rapidly gain an understanding of exactly what you are going to read. To get a big picture understanding, skim the introductory and concluding paragraphs. Try to identify transition phrases, analyze any images or graphs, and figure out how the author structured the text. 2. PLAN YOUR ATTACK. Strategically approaching a text will make a large difference in how efficiently it is possible to digest the material. First, t...