7 Best things to keep in your wallet always

Emergency Contact Information – It is always good to keep your immediate / emergency contact details in your wallet. You never know when you might need it or need to share it. Basic information would always be required during crisis.

Driving License – This is a must and has to be a part of your wallet always. Let it be 2 or 4 wheeler license; it needs to be carried always. Driving License can be used as residential and identity proof in India

Pan Card – Government ID or Permanent Account Number card needs to be carried always in your wallet. PAN card can be used as photo identity in India.

Cash – Carrying extra cash in your wallet is always useful and advisable. During the time of urgency it can be useful to you or your friend.

Health or Medical Card – Health insurance card needs to be part of your wallet. In case of emergency or going to the hospital for a treatment these cards will help you in paying and saving hard cash.

Credit Card and Debit Cards – Payments, online shopping, buying policies or movies tickets can be done instantly with the help of credit or debit card. These cards help you in getting extra benefits like points, benefits and rewards.

Business Cards - You never know whom you meet up and have to share your business card, therefore it always recommended to carry few cards in your wallet. In today’s modern world you can always share your contact information through your phone.

7 Best things about using Credit Cards

More Purchasing Power – Credit Card provides you a facility to purchase now and pay later. This facility really helps during the time of festival when you want to buy something for your loved ones but do not have cash ready available.

More Savings – With the help of Credit Card you can be sure not to miss on any payments and save money by avoiding late payment charges. Insurance policies, premium payments, investments in ELSS, installment payments and online payments can be done through credit cards.

During Emergencies – Credit Card comes handy during the time of emergencies and its interest rate is always less compared to borrowed money from other institutions. Also you get 45 -52 days for making payments and save additional money.

Reward Benefits – Reward points are associated with every purchase you do with your credit cards. These points can be redeemed later to purchase goodies, movie tickets or gift articles through online.

Online Shopping – Customer or consumers can purchase products and services at a lesser rate and enjoy the benefits by making purchases through credit cards. Additional discounts are associated with credit cards, like 5% additional discount for HDFC Bank customers, bonus points, free gifts etc. which provides additional savings to the customer.

Additional Protection – Accidental, Life Insurance or Travel Insurance cover is provided too few types of credit card holders with additional charges. Credit cards may also offer you additional protection if something you have bought is lost, damaged, or stolen.

Miles – Free Air Miles can be earned and redeemed later to book flight tickets. Miles earned can be redeemed against 5 star hotel bookings giving you another reason to go on affordable vacations.

7 Best things about being single

Master of your own Finances: No need to worry about your finances going into lady maintenance costs as you are single now. Being single gives you the liberty to be in full control of your finances and do as you wish.

Freedom: Being single you can enjoy your life to the fullest by not worry about your partners likes or dislikes. You can do whatever you wish for and go wherever you want too. No more taking permissions or thinking about your partner’s choice.

Flirt: Being Single, you can always mingle with anyone at anytime, anywhere. No more restrictions. This always gives you a chance to have fun and get closer to your dream partner in future. What’s the fun if you are single and do not mingle around.

Focus on Career:For single and people who are not in serious relationships can always focus on their career and build a bright future for them.

No Sacrifices: Don’t have to do any sacrifices like missing a friend’s party, sports event, no alcohol because your partner is around or doesn’t like it those things.

No need to change yourself: You can be the way you want to be and don’t have to change yourself because you live your own life at your own terms.

No more emotional drama: Being single helps you to be far and away from emotional tantrums or drama of your wife / girlfriend. Being single means you are away from heart wrenching break ups.

7 Best ways to save on income tax

PPF / EPF – Public Provident Fund or Employee Provident fund scheme under section 80C provides an eligibility and limit of 1 Lakh rupees with a guaranteed return at 8.6% to save income tax. Investor can invest minimum of Rs 500 per year, with a lock in period of 15 years.

ULIPs – Investment in Unit Linked Policies provides options for income tax saving with a life insurance policy attached. Thus this provides double benefit with an option of tax saving with life insurance cover attached.

Mutual Funds – Investment in Mutual Funds or Equity Linked Saving Schemes is a very good option and useful in tax saving for those who have not utilized other option of tax savings. Investment in ELSS comes with a locking period 3 years and returns depend upon market conditions.

Fix Deposit – Best option to save tax and get a guaranteed return of 9% at least. Deposit of funds for a term of 5 years in any bank is eligible for 80C tax deductions.

NSC - National Savings Certificates or NSC is yet another saving scheme for Tax Saving on Income in India. NSCs will offer you 8.4% this year and the income, like 5 year bank FDs will be taxable after getting added to your income.

Home Loan – You can save income tax through home loan under 2 sections:

Indian Income Tax Act 1961 – Section 24 (B)

The max amount deductible under this act is Rs 1,50,000 per financial year. Interest on borrowed capital or loan taken for purchasing a Home, constructing a house or renovating an existing property can be claimed for income tax savings.

Indian Income Tax Act 1961 – Section 80 (C)

It allows a tax deduction of up to Rs 1,00,000 on principal amount of home loan or borrowed capital repaid in a financial year.

Education Loan – Education loan provides you an opportunity to study and afford higher education with income tax saving benefits. Government of India has extended the benefit under 80E from the year 2010-2011 for all streams providing vocational or regular courses. Educational loan can be claimed only on full time courses.

7 Best things about Gold

Savings – Gold has been performing well over last 5 years and returned on gold investment has doubled. If you are looking forward for saving in gold for gifting to your children on their marriage or for your wife or relative, investing in gold is a good option.

Keeps your wife happy - Gifting gold to your wife in the form of jewellery or coins would always keep her happy and loving.

Good Returns – Gold provides good returns if invested with a long time view or investment period. Demand and supply do not have an impact on gold like other commodities.

Can be used as cash – Gold can be exchanged for cash easily whenever you are in need of money. Also loan is provided against gold by different financial institutions in market.

Easy to invest – Gold can be easily purchased in numerous forms like physical, coins, bars, jewellery and from different channels like gold ETF’s and e-gold.

Easily Available – Gold is available in variety of sizes starting from 1gm to 1kg in different types and forms like coins, bars and design jewellery.

Durable & Portable – Gold is more durable than other products like Silver and Platinum. Gold does not react with other chemicals and change its compound. Gold is portable and can be transferred or carried easily from one place to another.