Money saving is a vital thing for future. Every one have its own targets. Some Targets can archive in short time some are for long time Reduce expenses or increasing the money making methods is the important. some times limitation of increasing the additional income sources. Income source means salary incomes, property rentals , Fixed deposits ,Time deposits etc. Some times we can not increase the income capacities due to competitions. Reducing expenses is the important thing. - Cut the all unnecessary expenses -Cut all the taxi expenses I am telling this because now everyone used to use taxi service instead of travelling on bus or walking. Its a Big disadvantage for Personal finance. Its a bad habit. Stop the Excessive uber charges. Its good for health too. -Try to make Monthly Budget . Its a Forecast for the upcoming months. Its Good choice to reduce your expenses and Manage
What is fixed deposit and how it works Fixed deposit means , some certain of money that keep for long time compare to savings account. always Fixed deposits rates are higher than the other rate In Some countries Fixed deposits called as Certificate of deposits. Some banks offer very special rate for Fixed deposits. But before investing on the Fixed deposit. please go through Financial Statements. You can view the financial statements via corporate website. You can do analysis on that. The bank or financial institution has viable assets and liabilities ratio. Compare to Fixed deposit , Savings have higher ratio of flexibility. If you need to take money or deposit money whenever you want , the best choice is savings. from fixed deposit you unable to withdraw money at anytime. its a fixed one. if you withdraw the money you will get penalty.