Money Saving Tips from Google

Money saving tips i found on Google are a great way to help spenders like me

1. Go to the shopping center with your belly full, this way you wont buy too many things since you are not too hungry.

2. Remove unnecessary load from your car. less load can improve the fuel efficiency.

3. If you have an impulse to buy something you should wait for 48 hours and then see if its still there.

4. Always turn off the lights once you leave the room.

5. Technology gets cheaper every three months. So when ever a new product is launched and you think you really want it wait for some time and then see it might be available cheaper.

6. Reuse Paper, this can be ecofriendly and save money.

7. Utilize the Online bill pay facility at your bank, this way you save trip to the billing counter and also save on paper.

8. Get organized and avoid missed payments of the bills and credit cards.

9. If you are living in a rented accommodation try living nearer to the office, this way you can save cost of commuting and all the hassle that comes with it.

10. Eat Out less. Yes that does save money.

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About New Pension Scheme

This is continuation with my last post regarding the new pension scheme...


Under the Active Choice, you can make a decision on how your money will be invested. There are basically three choices and how each choice you make invests your money is explained below.


Also known as the Life Cycle Choice fund, basically for people who do not want to be make the decision on how the money is invested and would rather let a system handle the same. Under this Choice it basically divides your investment under the three asset classes shown above based on your age bracket. The details are shown below….

Charges for investment are detailed below….

So go ahead and make and save for your retirement.

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Explaining The New Pension Scheme

The new Pension Scheme started by the government of India’s PFRDA is a boon for all those working in the Private Sector and the unorganized sectors. It is a voluntary scheme to take care of us all in the Old age. The PFRDA has defined the Following objectives for the scheme

· To provide Old age Income
· Reasonable market based returns over long term
· Extend old age security coverage to all citizens

You basically have to apply for PRAN (Permanent Retirement account number), which is yours for life and is accessible from across India. The PRAN basically provides you access to two types of account

Tax Benefit – The Tax benefit for this account is like any other pension plan and as per the income tax act.

The Contributions to this scheme are as per below

Minimum amount per Contribution – Rs. 500/-
Minimum Contribution per year – Rs. 6000/-
Minimum no. of Contributions – 04

There are basically two approaches to invest in your account

1. Active Choice - Individual Choices (E, C &G type accounts)
2. Auto Choice – Life Cycle Fund

To be contd....

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