Financial Literacy

In today's digital world and with the advancement of technology, using the plastic currency is no longer a choice rather it has become mandatory to use the plastic currency. Credit cards, debit cards, prepaid cards, credit history, online bank account, and online money transfer, mobile payments have become a part of our routine life. We should be very informed and careful while doing any transaction with the plastic currency whether online or using ATM or mobile as we would be with our paper currency. Sometimes, I wonder that plastic currency is more vulnerable than the cash, do you think the same.

Financial Planning:

1. Retirement Planning: 
1. New Pension Plan(NPS): It is open to all. INR 6000 per year or INR 500 per month. Tax-free
2. Fixed deposit for 10-years (FD)
3. Post office saving scheme (POSS)
1. National Saving Certificate(NSC)
2. Recurring Deposit Account
4. Small Saving Scheme: Like PPF, EPF, they also give you the facility of compounding the money.

Assets: Home, land, gold, car