Women are Good Homemakers and Smart Money Managers
The days went when all financial matters were left to husband and women had taken minimal interest in planning and investment decisions.
But modern retro women are ultimate multi-taskers and it comes to management of money, there is no hindrance in getting better half. They perform all the financial responsibilities of the family efficiently (…)
The days went when all financial matters were left to husband and women had taken minimal interest in planning and investment decisions. But modern retro women are ultimate multi-taskers and it comes to management of money, there is no hindrance in getting better half. They play all the family financial responsibilities efficiently in their domestic affairs with their husbands.
The best way to make money in the long term is to recognize your talents and skills and use them to make the best possible. Working from home is not a limiting factor. If you are a good artist or are interested in cookery or dance, then you can start classes for that. If you have a qualified C.A. If so, start by writing accounts for small customers. For good people in sales skills, direct marketing is a good option for products such as Amway, Modicare, Tupperware, Avon etc. Apart from this, the Internet today opens an innumerable opportunities through online stock trading to sell handmade items through Ebay. Taking such a career would lead to a good regular income.
No matter how much money a person earns, saves, invests, and develops it. Start by organizing finance; Comparing assets with liabilities and making a list of the income received and expenses made each month. Now make a realistic budget for keeping the emergency fund in mind and reducing all the wasteful expenses. Carefully check the number of social Kitty units that can help in a saving.
The tax rebate limit has been envisaged. With a reduction of Rs 1,45,000 for women and Rs. 100,000 U / S 80C, tax free income can go up to Rs. 2,45,000 The following investment should appear in the list of women:
- Bank FD
- Mutual funds especially ELSS
- Residential house with debt
- PPF, NSC, MIS Deposit
- Premium for LIC and Mediclaim Policy
Taxes will not be levied on the money given by the husband for the household expenditure (known as pin money), but earned income on investment made from pin money will be taxable. It should be ensured that the domestic expenditure is adequately supported by adequate clearance to avoid the hassles of ambiguous expenditure.
It would be good if the couple has a good insurance cover and the wife is nominated in all her property properties, bank accounts and insurance policies. Keeping an account of all the ornaments and gold jewelry found at the wedding not only helps in organizing precious things, but also if it is needed, in other ways. For those looking to invest in gold, a new product called i-Gold is a recommended option.
Finally financial management is a continuous process. Maintaining good records and reviewing the investment helps in tax purposes from time to time and shows the performance of the investments made. As is commonly said, the characteristics of patience, practicality and a well intuitive woman make the woman great financial and future planners and investors.