A few years ago, the central government changed the tax rules regarding employee gratuity payments. According to this amendment, gratuity amounts received by employees are not taxable up to Rs. 20 lakhs. This tax-free gratuity limit was increased to Rs. 25 lakhs in May 2024 and will come into effect on January 1, 2024. According … Read more
In today’s society, middle-class families face significant financial stress due to minor mistakes. However, this burden can be avoided by following some basic principles. Let’s explore them now. Planning for the future: Many middle-class families live in the present without considering the future. It’s essential to anticipate significant future expenses such as marriage, children, and … Read more
Most people have very little monthly income, but daily expenses are high. Therefore, they feel sad that they cannot save for the future. Are you in the same category? But don’t worry. You can reduce your expenses and increase your savings with simple tips. Let’s see what those tips are. Why is there a delay? … Read more
In today’s fast-paced world, managing money effectively cannot be overstated. This involves balancing spending, saving, and investing to secure financial well-being. Earning money is not enough; it should be spent regularly, and investments should be made for future needs, following certain principles to ensure adequate assurance. 30 Percent Rule: Never use more than 30 percent … Read more
Money is essential to support a family; nothing functions without it. However, to earn money, one must work. Suppose you earn a reasonable monthly amount to cover your family’s expenses. A portion of that money should be allocated for leisure activities. You can use part of your earnings for things like watching movies, going for … Read more
Secret Formula for Wealth Creation: Financially settled and successful people suggest knowing the difference between being rich and being wealthy. A rich person earns and spends, while a wealthy person earns, saves, and plans to grow their wealth. The critical difference lies in the wealth secret formula of working with money. A wealthy person understands … Read more
Avoiding Major Money Mistakes: Many of us have desires that exceed our incomes. We may want to wear a new outfit every day, drive our dream car, and move into a luxurious house with all the amenities. As our income grows, we often seek to change our lifestyle completely. For example, those who used to … Read more
Cutting costs is something we’ve known since childhood. Back then, we used to save the pocket money from our grandparents and carefully stash away money given by relatives. Even though we didn’t have much experience in achieving our goals at that age, we still managed to control our expenses. So why is it so hard … Read more
A poet once said that a man who does not owe is not a man, and in today’s world, this rings true. Everyone seems to be in debt, even if they never intended to borrow money. Financial institutions are offering credit like never before, and while we may take loans to meet our needs, there … Read more
The number of students choosing to study abroad is increasing each year. A good career prospect is an additional incentive for foreign education graduates. While foreign education used to be mainly for the wealthy, now even the middle class shows interest. However, the cost of such education can be burdensome for students. Managing money effectively … Read more