Our Blog
Manage Your Finance
Bank Mitra
2/01/2015
! What
is Income?
Money earned from
various sources like salary, wages, earnings from farming or business etc. is
our income.
! What
is Expenditure?
Money spent by us
on various items is our expenditure. It includes spending money on essential as
well as non essential items.
! What
is Investment?
Deployment of
money, say out of savings, with the expectation of earning higher returns
overtime is investment. e.g. purchase of land, fixed deposit in banks etc.
! What
is Saving?
When income is more
than expenses, then we have surplus money known as savings.
! What
is Debt?
When expenses are
more than the income and we have no savings with us, then there is
shortage of money which is covered through borrowing, creating debt.
! How
to Manage the Debt?
This is similar to
how we manage the use of water in our daily life. Sometime the municipal water
may come for the whole day and sometime it may not come at all. Do we stop
using water? No! We do not stop using water, we store water when it is in
plenty and use when it is scarce. This act is called saving. Our finance
is like a pitcher with a tap for outflow at the bottom of it. The water flowing
into the pitcher is our income and the water flowing out of the pitcher is our
expenses. If we have expenses more than income in a particular month, the
savings of previous months can be used for meeting this shortfall. If we
do not have savings, we have to borrow and incur a debt at high cost.
Subscribe to:
Post Comments (Atom)
Recent Posts
Follow us on facebook
Popular Posts
-
AADHAAR SEEDING Aadhaar can be linked to your existing account in any of the following simple an easy ways: Aadhaar Linking t...
-
1. What is the nature of the scheme? The scheme will be a one year cover Term Life Insurance Scheme, renewable from year to ye...
-
Small Introduction At present there are around 31 Crore savings bank accounts in India. Number of actual account holders is not mor...
-
DETAILS OF THE SCHEME: The scheme will be a one year cover, renewable from year to year, Accident Insurance Scheme offering accident...
-
HEALTH DECLARATION FORM (Pradhan Mantri Suraksha Bima Yojana) Customer Name Father/Husband Name ...
Labels
- Aadhaar Linking
- Aadhaar Seeding
- Bank Mitra
- Banking Kiosk
- Branchless Banking
- Financial Inclusion
- Financial Planning
- Jan Dhan Yojana
- JanDhan Se JanSuraksha
- JanSuraksha
- Kiosk Banking
- Life Insurance
- News
- PMJDY
- PMJDY Planning
- PMSBY
- Pradhan Mantri Jan Dhan Yojana
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Pradhan Mantri Suraksha Bima Yojana
- Problem
- Problem Solution
- RuPay Card
- SBI Kiosk Banking
- Solution
- State Bank of India
- Suraksha Bima Yojana
your blog is giving very useful knowledge for all, i'm sharing your information to all friends.Do you need cash loan against credit card?.Swipe Your Credit Card And have Immediate cash With Cheapest Costs. Provide Your ID Card Photo Copy As A Document Resistant.Kindly see my blog
ReplyDeletecredit card to cash in chennai at low interest