What are the possible ways of saving money?

Question

I am working in Genpact and I am earning a salary less than 10,000. I can save 2000 per month. Can you pls suggest me the best possible and profitable ways of saving my money. Are insurance policies good? Can anyone pls advice me some of the profitable insurance policies? And what are backgroung checks need to be done while taking an insurance policy, Thanks in advance..........

Answer 1

If you are saving 2000 a month than your making more than 10,000 and I am thinking you mean 10,000 a year because if you mean 10,000 a month than your doing bad if only 2000 is being saved and I would start putting my money in a IRA or a stock not insurance. I don't see where insurance would help you because usually you only get back what your insurance covers and it doesn't earn any interest. Get a book by suze orman she is the best when it comes to what to do with your money and she stays up on the last est. Her books are at the library also.

Answer 2

Take Term Insurance or Endowment Insurance from LIC to begin with. LIC is the best service brand award winner of Economic Times Brand Equity for 5 years in a row. You need not do any background search while taking policy with LIC.

About rest of investment start with SIP route of Mutual Fund. ideal fund house being BNP Sundaram Paribas.

Answer 3

It is good to save in Insurance, u get I.Tax rebate .Good investment as returns are better than bank and u are insured also. ther is scheme u can pay every monh also ,in this whatever amt. u fix will be taken out from ur. bank`s a/c. via ECS..for more details contact 9999631811& 01142808488, MR. Anil a bank Officer..

Answer 4

possible ways of saving ur  money  witch police u want call advicer ur home limit bangalore 9343667359

Answer 5

Life insurance is never the way to save or invest.  See a stockbroker or financial planner.   You need tax advice and info on where to invest your money.

Answer 6

hello! 1st of all u have to stop wishing!

because a famous chineeese saying "beware of your wishes u can die! "

so the more u wish the more u will lose money !

hope thats answer of ur question!

Answer 7

there are many company those provide insurance with investment plan,you must go for monthly saving scheme,you must invest your money with good company like as L.I.C.

Answer 8

dere r few option im sending u .

1. R.D ( recuring deposit)  it is a monthly income scheme , in dis u can put ur saving monthly  in post office, in sahara. u can get approx 9% or up to 9.5% rate of interest.

2. sip plan in dat u can same invest monthly in  some of da big compnies like reliance deversifed fund , reliance vision fund, franklin tempelton etc.dis is fr only 6 months afterdat u can continue.

3. fixed deposit scheme( fds) in bank , in non banking etc

Lic - insurance policy r not bad but now a days dere r 2 many private polics  started fr long period dats why i think nt preferable. hope u  like it. bye tk c of ur money . its is da most valuable neceesites of our life dnt take it fr granted, bye

Answer 9

u can stop some expenses dont purchase much items... purchase limited quantity and save ur money, open a savings account in any bank ... enjoy the life happily...

Answer 10

You have to start thinking S-M-A-R-T. What kind of cutbacks can you make? For example: I drink bottled water. Now at $1 a bottle on something that covers over 65% of our planet is not smart. So I bought one of those water filters that s***w into your faucet. I have bottles that I refil over and over again. I take them to work. Do you have a lot of small appliances around that house that are always on? I cut my electronic bill almost in half by unplugging all the clock radios and night lights. I also bought some of those florescent bulbs that look a lot like a regular bulb. These things use 80% less electricity than regular bulbs. You would be surprised, but these small things add up. I know I was spending money on the water filter and energy efficient bulbs but these things will pay for themselves in a month providing they pertain to you. If you really need the money right away start cutting back on your food costs. Romain noodles cost a dime and they taste just as good as campbells chicken noodle that costs $130 a can. Ok no chicken in romain noodles, but you are probably just missing about 4 tiny pieces of chicken. Put a brick inside your toilet 'chamber'. You will use a little lesser water each time you flush..Before you know it you will be ahead. Wanna be creative? Find yourself leaving lights on? Buy a motion sensor switch, the lights will turn on when you enter the room and will turn off (by a set amount of time) when you leave the room. I have one, they cost $15 at HomeDepot. Need new windshield wipers for your car? Who says you have to buy 2? You only need the new one on the drivers side, leave the old wiper on the passenger side.  So remember you have to start thinking S-M-A-R-T! Yours truly seahorsehawrey.