Tell-A-Friend  |  Bookmark Us  |  Sign-Up  |  Help
 
 

Go Back   IndusLadies > Education, Work and Money > Money Matters
 

Forgot username / password?
Register Now!
Home Register Forum Blogs Directory FAQ Mark Forums Read

Notices


Recent Threads
Go to first new post Follicle Growth
Last post by aishuanand
Today 01:51 AM
19 Replies, 600 Views
Go to first new post IL meet @ Dubai Bowling...
by Zeenat
Last post by Zeenat
Today 01:48 AM
0 Replies, 1 Views
Go to first new post I lost 10 kgs in 3...
Last post by meerajesh59
Today 01:45 AM
6 Replies, 43 Views
Go to first new post The News Paper Vendor
by Kamalji
Last post by Kamalji
Today 01:44 AM
0 Replies, 1 Views
Teluginti atta vs amma
Last post by narra
Today 01:43 AM
49 Replies, 885 Views
Simple Home Remedies...
Last post by chitrajaraika
Today 01:43 AM
10 Replies, 268 Views
Home remedies to cracked...
Last post by chitrajaraika
Today 01:42 AM
18 Replies, 346 Views
where can i get Garnier...
Last post by chitrajaraika
Today 01:41 AM
4 Replies, 22 Views
Need solution for black...
Last post by chitrajaraika
Today 01:41 AM
4 Replies, 53 Views
deal of the week
by shree
Last post by shubhasiddharth
Today 01:36 AM
207 Replies, 14,545 Views
Current Poll
how did you find this painting?
EXCELLENT! - 80.00%
4 Votes
GOOD! - 20.00%
1 Vote
CAN IMPROVE! - 0%
0 Votes
NOT GOOD AT ALL! - 0%
0 Votes
Total Votes: 5
You may not vote on this poll.
Reply Post New Thread
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 1st November 2007, 12:14 PM
ish_nalini's Avatar
Junior ILite
 
Join Date: Nov 2006
City: -
State: tamil nadu
Country: India
Posts: 159
Referrals: 1
Blog Entries: 11
ish_nalini hasn't received any reputations yet for posting
Question First time Earners: Need Investment and Savings tips please

Hi Seniors,
I need suggestions in savings for a Middle class family.
What should be the first step should a person do after he started recieving his first salary(i mean in savings?)...What would be your suggestion: buying a build house or just land? Which is the best investment? Should we have LIC policies?Which is right time to buy a house?
Please share your wealthy healthy experience so that i can follow your suggestions in future
Thanks in advance
__________________
My Blog>"Open Book for you"
What appears to be THE END,may really be a NEW BEGINNING !!!
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #2 (permalink)  
Old 1st November 2007, 01:56 PM
Junior ILite
 
Join Date: Apr 2007
City: LA
State: california
Country: United States
Posts: 146
Referrals: 1
deepshikha hasn't received any reputations yet for posting
Default Re: First time Earners: Need Investment and Savings tips please

Hi, Investments should be base on your need for liquidity, your risk appetite and your final goals(long term. short term)
For someone who has just started earning (young investors) it is better to look for investment options with low risk. One good thing is to get a PPF account, its very good from the point of view of long term savings without any risks. Also is not taxable.
Another option is to open FD' s with banks. Yes, one should get LIC policies, one because they save you some tax and two because they cover you and your family the risks. Some LIC policies also pay dividends over a period of time. About getting a house, one should try to get a house as soon as one has enough funds for the down payment and a home loan is approved, the money that goes towards the rent can be paid in installments to the bank.
It is always better to start saving as early as possible. This helps you grow your wealth over a long -period of time. all the best.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #3 (permalink)  
Old 1st November 2007, 03:40 PM
Junior ILite
 
Join Date: Sep 2007
City: Doha
State: Doha
Country: Qatar
Posts: 115
Referrals: 2
revathib hasn't received any reputations yet for posting
Default Re: First time Earners: Need Investment and Savings tips please

Hi Friend,

Its really nice to know you want to start saving from your first salary itself. Good
Go Ahead.

You can start saving by the way of Fixed Deposits (lumpsum), small means Recurring Deposit, Gold Investment (in cash or in funds), better to go for land in a good area or some place you can watch in. or can go for apt. type.

You start investing now itself, It really doesnt matter how much u earn, but it matter when how much u can save, and really worth how much u can invest from that.

With this note, I am signing off. Keep mailing

Regards
Revathi
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #4 (permalink)  
Old 2nd November 2007, 12:00 AM
Junior ILite
 
Join Date: Nov 2006
City: Chennai
State: Tamilnadu
Country: India
Posts: 185
Referrals: 0
leelal has just started receiving reputations for friendly and helpful postings
Default Re: First time Earners: Need Investment and Savings tips please

Hi Friend,

Congrats on ur First Salary!!

Good to know you have already planned to save ur earnings and Free From routine spending responsibilities. Its really a welcome approach For the new middle class junta.

How you want to save depends on your total salary you earn.

- Take a loan and place 40-50% oF your earning towards installment For the plot u buy (U have bought a land in ur name now)

- Invest every month 15% in Mutual Funds.. ( As stock markets and real estate are growing market, u can reap good dividends.) (Form a group oF 5 members and pool in ur money and invest directly in IPOs, secondary stocks - High risk activity and proFit shared by 5. It will help in long term)

- Invest 20% - recurring deposits. ( You can mobilise cash in emergency situations)

- 10% towards medical insurance For parents (iF u have to take care oF their medical expenses).
- 10-15% - enjoying urselF.

Enjoy Saving !!
__________________
:
love-educate-empathize-lead-ambitious-life
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #5 (permalink)  
Old 2nd November 2007, 12:18 AM
ridgemma's Avatar
Junior ILite
 
Join Date: Oct 2007
City: Mumbai
State: Maharashtra
Country: India
Posts: 191
Referrals: 0
ridgemma has just started receiving reputations for friendly and helpful postings
Default Re: First time Earners: Need Investment and Savings tips please

Hi Nalini

The first mantra in handling your money is to "Pay urself first", i.e before you pay your bills, save for yourself.It is wise to startwith with a term insurance policy. I don't recommend ULIP policies as investment. To start with invest 10%of your sal every month. Read carefully, it is "invest", not "save". Invest and diversify (in your 20s the asset allocation can be 60%in equities, 20%in PPF/LIC/FD, 20%cash)

Planning finances in your 20s? Here's how

Investment advice for youngsters

These are some articles which I found useful from rediff.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #6 (permalink)  
Old 2nd November 2007, 06:53 AM
Junior ILite
 
Join Date: Nov 2006
City: Chennai
State: Tamilnadu
Country: India
Posts: 185
Referrals: 0
leelal has just started receiving reputations for friendly and helpful postings
Default Re: First time Earners: Need Investment and Savings tips please

Hi Nalini,

I would also like to add one more point.

Based on your current job, you can also invest on yourself for better career enhancement.
1. Higher education in your discipline or mgmt through distance programme from Reputed institutes
2. Soft skills
3. Learning a foreign language like french/spanish or Japaneese
4. Developing keen interest in any community group activities
5. Learning music or dance like salsa, or new sport

No one plans for investment in the above categories. But as there are good market growth in India and abroad, these will help you down the line as you grow.
__________________
:
love-educate-empathize-lead-ambitious-life
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #7 (permalink)  
Old 11th November 2007, 06:00 PM
chocolate's Avatar
Gold ILite
 
Join Date: Mar 2006
City: Rossford
State: OH
Country: United States
Posts: 1,017
Referrals: 0
chocolate has just started receiving reputations for friendly and helpful postings
Default Re: First time Earners: Need Investment and Savings tips please

Quote:
Originally Posted by deepshikha View Post
Hi, Investments should be base on your need for liquidity, your risk appetite and your final goals(long term. short term)
For someone who has just started earning (young investors) it is better to look for investment options with low risk. One good thing is to get a PPF account, its very good from the point of view of long term savings without any risks. Also is not taxable.
Another option is to open FD' s with banks. Yes, one should get LIC policies, one because they save you some tax and two because they cover you and your family the risks. Some LIC policies also pay dividends over a period of time. About getting a house, one should try to get a house as soon as one has enough funds for the down payment and a home loan is approved, the money that goes towards the rent can be paid in installments to the bank.
It is always better to start saving as early as possible. This helps you grow your wealth over a long -period of time. all the best.
I will start working shortly. I have a Professional degree in Publishing from India(BE).This will be my first job. Can you tell me what kind of job I can look for. I am not looking to work in my field as I will be enrolling for my Masters next spring. Also ,I am in US from 5 yrs. I was looking to buy a house by next year end. scrimp and save for that. Can you tell me a few ideas to save for it.Thanks in advance.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #8 (permalink)  
Old 4th September 2008, 02:30 PM
Silver ILite
 
Join Date: May 2008
City: USA
State: USA
Country: United States
Posts: 890
Referrals: 0
Saahithya has just started receiving reputations for friendly and helpful postings
Default Re: First time Earners: Need Investment and Savings tips please

wow thanks alot for the nice tips here.....
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply Post New Thread

Bookmarks

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Day Light Savings Begins!! puni88 General Discussions - USA & Canada 9 5th March 2008 03:02 PM
Savings Plan Shilpa77 General Discussions - USA & Canada 4 13th February 2008 03:38 PM
Tips for effective Time Management Hemalata Forward Messages & Jokes 1 18th January 2008 03:15 PM
Thoughts?---college savings 529 plan sssaustin Money Matters 5 19th July 2007 01:49 PM
401(k) investment sheeba General Discussions - USA & Canada 3 11th August 2005 01:19 AM

Powered by vBadvanced CMPS v3.2.1

All times are GMT -5. The time now is 01:53 AM.