Money Matters 1-12 - T&I Credit Union -- Servicing Employees: Fill & Download for Free

1.Don’t use credit cards- You buy the items, which you don’t want from the money you don’t own! I spent more than 10 lacs from credit cards & paid heft interests. It took almost 8 years for me to get rid of them!2. Don’t smoke- I spent almost 45000 Rs per year on cigarettes when I was smoking actively. I am spending this money on reading books and travel now.3.Don’t drink– I spent approximately 65000 Rs per year on drinks. Now I am investing same money in stocks.4.Don’t take emotional decisions on money mattera) When I built my house in my hometown , I wanted it to be the tallest building in our area. I did it ! But it was a wrong decision. I spent extra 10 lacs foolishly on a liability.b) Once I was travelling back to my hometown after attending a function. I was waiting for a bus along with my 1 year old son and wife. It was a small village and there was no major bus stop. We waited almost 30 to 45 mins . I told to my wife “First thing we have to do after going to Bangalore is to buy a car !” . After 3 weeks , I was driving this :)5. Walk 1 hour daily6. Carry a water bottle from home when you go out7. Don’t shop on empty stomach8. Buy amazon prime membership9. Start noting down all the expenses. Even as small as 1 Rs10. Ask for 10 % discount when you goto any medical stores . They generally give.11.Avoid Junk food12. Don’t buy clothes unnecessarily-I have 75 + shirts , 25 + T shirts & 15+ Jeans . But most of the time , I don’t use many of them.13. Read books on money management14. Avoid complete intake of sugar15. Don’t buy costly phoneEdit 1 :29 k views & 2.5 k upvotes just in 24 hours ! This is my first answer which crossed 1 k upvotes . Thank you all for your overwhelming support .

I would share some maths and biology related tricks.Biology tricks.For learning the sequence and nature of cranial nerves.Sequence—OOOPTAFAGVAHO OlfactoryO OpticO OcculomotorP Pathetic(Trochlear)T TrigeminalA AbducensF FacialA AuditoryG GlossopharyngealV VagusA Aceesory spinalH Hypoglossal.Nature—(in the above sequence)Some Say Money Matters But My Brother Says Big Books Matter Most.S→ SensoryM→ MotorB→ Both2. Tooth eruption(permanent)Maths tricks.To find square of any number ending in '5′.For example: 35 square. Now—a) Tens and ones digits of the answer are always 2 and 5, ie., 25.b) Now look at the number-35 and concentrate on ‘3’, the number present other than 5. And simply follow-,3*(3+1)= 3*4=12. This gives you another half of the answer—12.c) Join the two parts of the answer. Hence the answer is 12 25. Therefore, 35 square is 1225.Do the same for 45,55,65,105 and get the answer in seconds!2. Multiplication of any number with '11′.This is easier than one can think.Eg- 102*11=?Now-a)Write the number two times like this(at one digit gap) and simply add what you see.102+102——1122______The answer to 102*11= 1122.Source: Google

Rate of interest be 6.5%per year. Some banks might be paying upto 7 % of interest. Inquire in the matter . Here banks mean nationalised banks.Total interest/year=0=30000000×6.5/100=1950000Monthly interest=1950000/12=162500 pmIn monthly scheme interest is paid at discount ie you will receive less interest than calculated.Go for quarterly interest scheme then there no discount . You will receive 1950000/4=487500 per quartet.Keep deposits in nationalised banks. You can deposit in post office under monthly interest scheme. If you are above 60 years of age then you can deposit maximum ₹1500000/-under scss scheme of post offices. You get interest at 8.4% per annum. Do not deposit in cooperative banks. In case of scheduled banks deposit up to 1 lac per bank.Invest in SIP schemes of mutual funds. It will help in inflation. For this inquire with fund managers or financial consultant s.Edited on 30/11/19Don,t go for trading in shares, or futures and options or commodity without SUFFICIENT KNOWLEDGE.If you have surplus money of ₹ 50000 or 100000 or so, after 6 months or a year buy good scripts after consulting a financial consultant. Buy and keep for longer time of 10 years or so.Edit on 1/12/19Banks deduct income tax at source(TDS) from your payable interest at 20% if total payable interest is more than 50000 per branch of a bank. You should not submit 15 H or 15 G form .You will have to file IT return every year before 31/8 of each year. Thus you have to asses your income every year. For this you have obtain interest paid certificates for each financial year(FY) ie from 1.4 to 31. 3 . Then file IT return of your own or through tax consultant.Edited on 2/12/19After depositing the amount in banks please consult tax consultant in respect of tax liability. You have to pay advance tax in each quarter of the F Y.Edited on 25/02/2020Now the insurance limit on bank deposits is raised to 5 lac in February 2020 in budget for2020–21. Finance minister Sitaraman has announced this on 01/02/2020. So it is safe to deposit upto 5 lac in sound private sector banks. We get more rate of interest than nationalised banks'. But care must be taken that bank is sound and management is trustworthy. Wie must refer to balancesheet of these banks just like we refer to companies balance sheets while buying scripts. Also inquire into that there are no directives issued by RBI to that bank which will hinder normal functioning of the bank.