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Naimishkumar Parmar 81 Followers28 Apr

#personalfinance #financialliteracy #wealthmanagement

Kinds Investment options in India

Investing is a great way to teach kids about money management and financial literacy. Here are some investment options for kids in India:


1. Public Provident Fund (PPF): PPF is a government-backed savings scheme that offers a fixed rate of interest and tax benefits. Parents can open a PPF account for their child and contribute up to Rs. 1.5 lakh per year. The account has a lock-in period of 15 years, which makes it a good long-term investment option for kids.


2. Sukanya Samriddhi Yojana (SSY): SSY is a government-backed savings scheme that is designed to encourage parents to save for their daughter's education and marriage. The scheme offers a fixed rate of interest and tax benefits. Parents can open an SSY account for their daughter before she turns 10 years old and contribute up to Rs. 1.5 lakh per year. The account has a lock-in period of 21 years, which makes it a good long-term investment option for kids.


3. Mutual Funds: Mutual funds are a popular investment option for adults, but they can also be a good option for kids. Parents can invest in mutual funds on behalf of their child and choose from a variety of options, such as equity funds, debt funds, and balanced funds. Mutual funds offer the potential for higher returns, but they also come with higher risks.


4. Fixed Deposits (FDs): FDs are a low-risk investment option that offer a fixed rate of interest. Parents can open an FD account for their child and choose the tenure and interest rate. FDs are a good option for short-term investments, but they offer lower returns compared to other investment options.


5. Gold: Gold is a traditional investment option that has been popular in India for centuries. Parents can invest in gold on behalf of their child by buying gold coins, bars, or jewelry. Gold offers the potential for higher returns, but it also comes with higher risks.


Overall, these investment options can help kids learn about money management and financial literacy while also providing a good return on investment. Parents should consult with a financial advisor before making any investment decisions on behalf of their child.


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Somosree Roy 190 Followers07 Dec

JNUite, reader, explorer and writer with economics backgroun

#personalfinance #financialfreedom #crypto #realestateinvest ...

Eyeing a small startup in 2023? Best time to start planning for business finance in December 2022

With Covid almost on the verge to spare us, we need to buckle up on a lot of impending planning, isn’t it? Ofcourse, not talking about you all who have been able to sail smooth through these last 2.5 years.

So, if you have had a startup plan which got deterred because of any possible reason, get going for it. Waiting will never help and one small action towards it will make the difference.

2023 will be the best time to launch considering economies and supporting business environments getting back to “normal”.

Fund raising will likely be conducive if you plan it in 2023 as Economic Times mention that 2022 has already been favorable. Those who planned in 2021 had a favorable experience this year.

As we just started with December 2022, this is the perfect time to do all the planning this month to be confident by the New Year’s Eve. Finance plays a major role when it comes to start-up and start listing down all that you possess and all that you need.

If self-financing is the option, make a crisp plan to put away the required finances as untouched and plan for all other expenses. If you are looking for investment, explore all the different kinds investors you can approach and their prerequisites.

Once you have that, its time to start making the business plan – the first step being a robust business model followed by MVP.

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Naimishkumar Parmar 81 Followers24 Apr

#personalfinance #financialliteracy #wealthmanagement

Financial Literacy for Kids

Financial literacy is an important life skill that every individual should possess, regardless of their age. In India, it is essential for kids to learn about financial literacy from an early age to help them make informed decisions about money management in the future. Here are some tips on how to teach financial literacy to Indian kids:


1. Start early: Financial literacy should be taught to kids as early as possible. Parents can start by teaching their kids about the value of money and how to save it.


2. Make it fun: Kids learn best when they are having fun. Parents can use games and activities to teach financial literacy. For example, they can play games like Monopoly or create a pretend store where kids can learn about money management.


3. Teach budgeting: Kids should learn how to budget their money. Parents can give them a weekly allowance and teach them how to allocate it for different expenses such as food, entertainment, and savings.


4. Encourage saving: Saving is an important part of financial literacy. Parents can encourage their kids to save by setting up a savings account for them and teaching them about the benefits of compound interest.


5. Teach about credit: Kids should learn about credit and how it works. Parents can teach them about credit cards, loans, and interest rates.


6. Lead by example: Parents should lead by example when it comes to financial literacy. They should practice good money management habits and teach their kids about the importance of saving and investing.


Overall, financial literacy is an important life skill that every Indian kid should learn. By teaching them about money management from an early age, parents can help their kids make informed decisions about their finances in the future.


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Naimishkumar Parmar 81 Followers09 May

#personalfinance #financialliteracy #wealthmanagement

Investment Lessons from Uncle Scrooge

Uncle Scrooge, the famous character from the Disney comics, is known for his wealth and business acumen. Here are some money lessons we can learn from him:


1. Save, save, save: Uncle Scrooge is famous for his frugality and his ability to save money. He always looks for ways to cut costs and save money wherever he can. This is a great lesson for all of us, as saving money is the first step towards building wealth.


2. Invest wisely: Uncle Scrooge is also a savvy investor. He knows how to spot a good opportunity and is not afraid to take risks when it comes to investing. This is an important lesson for all of us, as investing wisely is key to building long-term wealth.


3. Be patient: Uncle Scrooge knows that building wealth takes time and patience. He is willing to wait for the right opportunity to come along and is not afraid to hold onto his investments for the long-term. This is an important lesson for all of us, as it reminds us that building wealth is a marathon, not a sprint.


4. Be entrepreneurial: Uncle Scrooge is a successful businessman who is always looking for new opportunities to make money. He is not afraid to take risks and start new ventures. This is an important lesson for all of us, as it reminds us that being entrepreneurial and taking calculated risks can lead to great rewards.


5. Give back: Despite his wealth, Uncle Scrooge is not greedy. He is known for his generosity and his willingness to help others. This is an important lesson for all of us, as it reminds us that giving back to our communities and helping others is an important part of building a fulfilling life.


Overall, Uncle Scrooge teaches us that building wealth requires hard work, patience, and a willingness to take calculated risks. He also reminds us that being generous and giving back to others is an important part of building a fulfilling life.


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