But if you do not want to take any kind of risk regarding your investment, then you can make the FD scheme itself a bumper return machine. But for this you will have to change the way of investing in FD and have to take a long term goal for wealth creation. By doing this, you can add a good amount from FD as well. Know here how to make big money from FD-

This technique will come in handy

Laddering technique can be very useful for you in making big money from FD. In this, instead of fixing the money at once, you have to invest it in several FDs of different duration. For example, you have 5 lakh rupees. In such a situation, instead of making an FD of 5 lakh rupees, make 5 FDs of 1 lakh each and fix them for 1, 2, 3, 4 and 5 years. This will make one of your FDs mature every year. This way you will have enough liquidity available.

This is how you get the benefit

You fixed your FD for 1, 2, 3, 4 and 5 years. In such a situation, your first FD will mature in 1 year. Fix it again for five years. Your second FD will mature in the second year. Fix it also for the next five years. In this way, your FD will mature every year one by one. You have to do the same with all of them. In this way, in the next 10 years, you will accumulate a good amount through FD.

Very effective for retired people

FD laddering technique is considered very effective for retired people. After the FD matures, they can use its interest amount and get the remaining money fixed again. In this way, from time to time when the FD matures, they will keep earning through interest and their deposited amount will be completely safe.

Estimate of 13 percent increase in direct taxes

He said that in the coming financial year 2024-25, direct tax is expected to increase by 13 percent and indirect tax by 12.5 percent and accordingly, the total tax collection will increase by 11.5 percent in the next financial year. Malhotra said that currently it is being seen that there is no match between the sale of the item and the purchase of the item. Purchases are not shown as much as sales of the item are shown.

1.85 lakh crore figure in the financial year

This matching is not happening due to some legitimate and some illegitimate reasons. We will stop this. Right now many items are not under the purview of GST, we will try to bring them also. The average monthly collection of GST in the current financial year is Rs 1.68 lakh crore which may cross Rs 1.85 lakh crore in the next financial year.

On the expectation of taxpayers getting more exemption in income tax under the new income tax system, Malhotra said that only last year, tax exemption was announced under this system. It’s been just one year now. Its impact will have to be seen for some time for tax stability.

Changes can be made in import duty in the full budget

Reduction in import duty on many manufacturing related items was expected in the budget. But when asked about this not happening, the Revenue Secretary said that in the full budget to be presented in July, changes can be made in the import duty of goods as per the need. He said that just a day before the budget, we had announced reduction in import duty of mobile phone parts.

Dreaming of Wealth:

Many dream of living a wealthy life, yet only a few manage to achieve it. Financial management is the key—knowing how much to spend from your earnings, how much to save, and where to invest those savings. While some earn well but struggle to save, others save but falter in making sound investment decisions.

Balancing Expenditure, Saving, and Investment:

Becoming wealthy demands harmony among spending, saving, and investing. As the New Year of 2024 approaches, new aspirations arise. Here’s an easy strategy for spending, saving, and investing that can potentially make you rich within a few years.

Divide Your Income into Three Parts

Whether you earn 20,000, 50,000, or 100,000 rupees per month, discipline is key. Divide your income into three parts following the 50-30-20 ratio. For instance, if you earn 50,000 rupees monthly, allocate 50% (25,000), 30% (15,000), and 20% (10,000) respectively. Use 25,000 for essential household expenses, 15,000 for pending tasks or other necessary expenditures, and invest the remaining 10,000 without fail.

Mindful Investment Decisions

When it comes to investing, diversify your portfolio. Avoid placing all your money in one place; this way, if one investment yields lower returns, it can be compensated by gains from others. Allocate your investment across RD, SIP, PPF, SSY, Stocks, FD, etc., as per your needs. Long-term SIPs can offer substantial returns, even paving the way to millionaire status. The longer you invest, the better the returns tend to be.

While long-term investments are essential, short-term options should also be considered for unexpected financial needs without disrupting long-term investments.

This strategy—disciplined expenditure, strategic saving, and diversified investments—can potentially lead you to substantial wealth in the coming years.

Understanding the calculations behind the interest accrued on a PPF investment is crucial. Remembering the importance of the 5th date significantly impacts the interest you receive. Investing in a PPF account yields an annual interest of 7.1%. Despite alterations in interest rates for various savings schemes at the start of the fiscal year, the government has maintained the interest rates for PPF unchanged.

Interest calculation on a PPF account is based on a monthly basis. However, this interest is credited to your account at the end of every fiscal year.

The 5th date plays a crucial role in calculating the interest on a PPF account. Depositing money into the PPF account before the 5th of every month earns you interest for that month, while deposits made between the 30th or 31st accrue interest based on the lowest balance.

By investing in a PPF account before or on the 5th of each month, you receive higher interest. For instance, depositing ₹1.5 lakh into your PPF account on April 5th yields an interest of ₹10,650 for the current fiscal year at an interest rate of 7.1%.

However, if you deposit the same amount after April 6th, you’ll receive interest only for 11 months of the fiscal year, amounting to ₹9,763. A mere day’s delay results in a loss of ₹887.

To earn maximum interest on your PPF, it’s advisable to deposit the entire amount at the beginning of the fiscal year. Investing ₹1.5 lakh before or on April 5th under Section 80C of the Income Tax Act allows you to earn interest on the entire sum. Depositing money monthly might reduce your overall interest at the end of the fiscal year.

Loan Facility Available After 1 Year

If You Deposit 12 Consecutive Installments In The Five-Year Recurring Deposit Scheme Of The Post Office, Then You Get The Loan Facility. That Means, To Avail This Facility, You Will Have To Deposit The Amount Continuously For At Least One Year. After One Year, You Can Take A Loan Up To 50 Percent Of The Amount Deposited In Your Account. You Can Pay The Loan Amount In Lump Sum Or In Equal Monthly Installments.

What Is The Interest Rate?

Interest On The Loan Amount Will Be Applicable At 2% + Rd Interest Rate Applicable On Rd Account. Interest Will Be Calculated From The Date Of Withdrawal To The Date Of Repayment. If You Do Not Repay The Loan On Time After Taking It, Then When The Rd Matures, The Loan Amount Along With Interest Will Be Deducted From It. To Avail The Facility Of Loan Against Rd, You Have To Fill The Application Form Along With The Passbook And Submit It To The Post Office.

Other Benefits Of Post Office Rd

• Post Office Rd Can Be Opened With Rs 100, This Is An Amount Which Anyone Can Easily Save. There Is No Maximum Investment Limit In This.
• You Get The Benefit Of Compounding Interest On Post Office Rd. Interest Is Calculated Every Quarter. In Such A Situation, You Get A Good Profit In The Form Of Interest In 5 Years.
• A Person Can Open Any Number Of Accounts In The Post Office Recurring Deposit Scheme. In This, Apart From Single, Joint Account Can Be Opened For Up To 3 Persons. There Is A Facility To Open An Account In The Name Of The Child Also.
• The Maturity Of Rd Account Is 5 Years. But, Pre-Mature Closure Can Be Done After 3 Years. It Also Has The Facility Of Nomination. At The Same Time, After Maturity, Rd Account Can Be Continued For Further 5 Years.

All The Authors Who Write Books About Money Give Many Principles Regarding Money Management In Their Books. If You Also Want To Learn How To Manage Money And Want Money To Work For You And Not For Money, Then Today We Are Telling You Some Ways To Manage Money, By Adopting Which You Too Can Become Rich –

Avoiding Wasteful Expenditure:

Although Most Of The People Follow It, But Many People Do Not Understand It. Nowadays Many People Use Credit Cards In Their Life. It Could Be A Credit Card Or A Loan Through The Buy Now Pay Later Scheme. When You Use Credit This Way, You Will Have To Pay It Back At Some Point, And At That Time It Will Be A Waste Of Money. Instead, You Can Save Some Of Your Income And Invest It Somewhere.

50-30-20 Rule Of Investment:

Everyone Sets A Budget Before Starting Any Work. Only After That Any Work Is Started. You Should Also Set A Budget Every Month As To How Much You Will Spend On What And How Much Money You Will Save And Invest. A Simple Rule For This Is 50 – 30 – 20 Rule. According To This Rule, You Should Spend 50% Of Your Income On Basic Needs. 30% Should Be Spent On Your Desires, Like If You Need A Phone Or Any Other Such Need. After This, You Should Invest The Remaining 20% In Some Form Or The Other.

Investing For The Long Term:

In Today’s Time, Everyone Wants To Become Rich Overnight, No One Has Patience. Therefore, Whenever Someone Invests Anywhere, He Stops The Investment Only When He Gets A Very Small Amount Of Profit. All The Successful People, Be It Warren Buffet Or Rakesh Jhunjhunwala, Everyone Believes That If We Have Full Faith In What We Are Investing In, Then We Should Invest For The Long Term. This Investment Will Keep Compounding And Will Give Us Good Returns In The Long Term.

While Investing, Pay Attention To Its Nature:

Whenever You Invest In Something, You Should First Understand Its Nature. Whatever We Are Investing In, Will It Be An Asset Or A Liability For Us. If That Investment Will Give Us Consistent Income In The Long Term, Then It Is Our Asset And We Should Invest In It. On The Contrary, If It Becomes A Liability For Us And In The Long Term It Will Cost Money Or Its Value Will Reduce, Then It Will Be A Liability. Thus, We Should Invest Only In Assets And Not In Liabilities.

These Few Points Will Be Found In All The Books Related To Money That You Read. By Adopting These Methods, You Can Easily Manage Money And If You Follow Them Continuously, You Can Also Become Rich In Future. So Adopt These Methods Today Itself And Start Your Journey Of Becoming Rich.

Investing In Assets In A Predetermined Manner

A true multi-asset mutual fund is one that invests across all assets in a ‘predetermined’ manner. In the last one year, multi asset funds of SBI, Tata and HDFC gave returns of 18.53 per cent, 18.18 per cent and 16.23 per cent, while Nippon India Multi Asset Fund gave returns of 18.54 per cent. Financial planning experts advise investors that they need to diversify their portfolio across asset classes so that even in times of ups and downs, their investments are not only safe but they also get good returns. Also, while choosing a multi asset fund, they should invest in a fund that really suits its theme.

Ratio Of Asset Classes As Per Market Conditions

Dwaipayan Bose, co-founder, Advisor Khoj, says pre-determined asset allocation ensures true diversification and hence the ratio of asset classes should not change as per market conditions. Take the example of Nippon India Multi Asset Fund. It is the only multi asset fund, which invests in fixed proportions across four asset classes. It invests 50 per cent in India equities (growth), 15 per cent in debt (relative stability), 15 per cent in commodities (low correlation with equities) and the remaining 20 per cent in foreign equities (global growth prospects). . This allocation formula of 50:20:15:15 (regardless of market conditions) makes it a true multi asset fund. Almost all other multi asset funds like Kotak, UTI and Tata invest their corpus across three asset classes, equity, debt and commodity and largely do not always follow the allocation formula.