Latest ATM substitute

Although the Reserve Bank of India has allowed shops to act as ATMs, the people meant to serve as banks’ new touch points – the shopkeepers – will have to be convinced first.

On July 22, the Reserve Bank of India had issued a circular permitting cash withdrawals of up to Rs 1,000 per day from point-of-sales (PoS) terminals at merchant establishments. PoS terminals are machines where customers can swipe their credit or debit cards to pay for purchases. Says Jayesh Sangoi, a Mumbai-based clothes’ retailer, “Already, there have been many cases of credit fraud. What happens if a customers just walks in with a fake card, and leaves with cash?

Read more here

Author: Austin Comments: 0 comments Date: 31 Jul 2009 More: Read more
Categories: Banks Tags: ,

Know your challan status via SMS

Challan status via SMS

photo by Erik Schlange

National Securities Depository Limited (NSDL) has launched a Short Message Service (SMS) based facility to know the status of challans. The procedure for availing this facility is as under:

1. The tax payer can send an SMS to 575758 with a message containing the word CSI followed by a space and CIN provided by the respective Bank at the time of making the Direct tax payment.

2. The CIN should be separated by comma (,).

3. Challan Identification Number (CIN ) consists of details such as BSR Code of Collecting Branch (seven digit) , Challan Tender Date (DDMMYYYY) and Challan Serial No (length less than or equal to 5 digit) and Amount. Continue reading “Know your challan status via SMS” »

Author: Austin Comments: 0 comments Date: 21 Jun 2009 More: Read more
Categories: Taxes Tags: , ,

9 tips on how to select a fund

how to select a fund 
photo by seven_null7

1. Don’t just blindly buy what the financial advisor sells you. See if the stocks the suggested fund invests in are relevant and missing from your portfolio.

2. When a scheme’s return have run up too fast, it’s time to exit and not enter a scheme.

3. You don’t have to invest in a hot-selling fund just because a colleague is investing in it. Maybe it’s too hot to handle. Continue reading “9 tips on how to select a fund” »

Author: Austin Comments: 1 comment Date: 6 Jun 2009 More: Read more
Categories: Mutual Funds Tags: ,

5 Points to Consider Before Buying Your Dream Home

 5 points to consider before buying your dream home
photo by fotographix.ca

Have you been waiting for the right time to buy a house? If yes, then this is perhaps the right time if you can afford to buy and get a better deal as real estate prices have come down considerably from their all time high in 2006.

Though buying a house may prove to be a prudent decision during this time of slow down and economic recession, you will still need to be an extra careful while closing the deal; it may not turn out to be as prospective and advantageous as you might have expected. Continue reading “5 Points to Consider Before Buying Your Dream Home” »

Author: Austin Comments: 2 comments Date: 18 May 2009 More: Read more
Categories: Real Estate Tags: , , ,

5 Simple Tips to Educate Your Children to Save Money

5 Simple Tips to Educate Your Children to Save Money

A lot of kids and teenagers nowadays do not recognize the cost of earning and spending money. They are not oriented that investing is necessary even if they are still pretty young or students. As parents, we play a critical responsibility in this subject, especially in today’s global climate, the importance of this cannot be stressed more.

You must be able to tutor your kids on how to save money. They ought to be able to understand the idea of money and investment as early as childhood. This will prepare them to be trained true money management, as they grow up. Continue reading “5 Simple Tips to Educate Your Children to Save Money” »

Author: Austin Comments: 1 comment Date: 16 May 2009 More: Read more
Categories: Saving Money Tags: , ,

Changing credit card information on PayPal? Be careful

Here’s a tip: If you have to replace a card on Paypal, first add the new card, and then delete the old card if you have subscriptions. Just adding the new card to your account won’t switch the subscriptions over, it will still cancel any subscriptions that were started on the old card.

To know more, read Rita Wilhelm’s experience about this.

Author: Austin Comments: 0 comments Date: 1 May 2009 More: Read more
Categories: Blogs Tags:

9 tips to become financially healthy

9 tips to become financially healthy
photo by andrewinpompey

Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health. They expect the financial experts to provide them with remedies, forgetting the fact that it is these experts who created this financial mess. Let us tap into the financial wisdom of our elders and become financially wiser. Continue reading “9 tips to become financially healthy” »

Author: Austin Comments: 0 comments Date: 14 Mar 2009 More: Read more
Categories: Money Tags:

Google launches TipJar money-saving advice site

Google has created TipJar, a new website where people can share money-saving advice and vote on how useful they find the information. Advice is divided in to several categories, including at home, at work, travel, shopping and family.

So far, more than 4,879 people have submitted 3,730 tips. Users have cast more than 54,230 votes about the usefulness of tips. The voting system means that the most useful tips will get greater prominence on the site.

Among some of the tips shared so far this one is what I personally believe in (and follow too):

“Master the thirty day rule. Whenever you’re considering making an unnecessary purchase, wait thirty days and then ask yourself if you still want that item,” shared by The Simple Dollar.

TipJar is an example of generating ideas through “crowdsourcing”, said Google.

“Google believes that people working together can help one another through even the most difficult times, tapping collective minds to find answers on how to make small changes that save the pennies,” said a spokesman. “We’d like to put these beliefs in to practice. So go ahead: Take a tip. Share a tip. We’ll all be a little bit richer for it.”

Author: Austin Comments: 1 comment Date: 13 Mar 2009 More: Read more
Categories: Saving Money Tags: ,