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Do you worry about HR's tax email every year? Are you one of those who
The mature urban Indian householder knows that to meet the rising expenses of bringing up a child needs disciplined savings. Just having an FD or RD is never going to be enough. According to a study by ET Wealth in 2011, it costs about ₹54.75 lakhs to raise a child from birth until s/he is 21 years of age. Factoring in inflation, if your child is born in 2015, this figure will easily touch ₹75 lakhs. If s/he is born in 2020, we are looking at 1+ crore. And this is for a single child, mind you.
Feb 14 is close, and even though you are mature and beyond boxes of chocolates and that red rose, the vibe of the day is such that you feel like doing something for your better half. You might see yourself as a romantic or you might see yourself as a pragmatist, but the fact remains that a nice, thoughtful gift on Valentine’s Day would be much appreciated by your better half.
There is no doubt that with all the talk and heavy marketing around mutual funds, it is easy to get carried away and begin investing in mutual fund products like Equity-Linked Savings Scheme (ELSS), which is well-known as a tax-saving product.