Saving, investing and speculating

Hi Friends,

In this article I am going to tell you the difference between saving, investing and speculating of your valuable money. Most of the people think that saving and investing money are almost same. But these are different.

Let's start with saving

1) Saving:- It means to protect your money for shorter period of time maximum 3 years. You are keeping your money in a safe to achieve some goal after a short period of time. This is a traditional way of money management. Here rate of interest is fixed and you will get your money after particular time with that rate of interest. Here growth of money is very slow. We may keep our money in saving accounts, money market accounts, certificates of deposit.

2) Investing:- In this process you keep your money for a long period of time that's for at least 15 years. Here growth of money and gain is high. But you have to wait for a long period and there is not fixed rate of interest. You will receive your money according to market value. Here Risk is high as compare to saving. But benefits are also high. You may keep your money in stocks, Bonds and Real estate.

3) Speculating:- Here you don't keep your money any account. Here you gamble with your money in casinos. Here growth of money is very high. But risk is also very high as in a one day you can become rich or you can lose everything.

To sum up save to protect your money, invest to grow your money and speculate to gamble your money.

So always think before that how you want to manage your valuable money.

Link Adhar with PAN

Apart from money making tips today I am going to tell you very important tip that how we can link our Adhar with PAN card. As government of India made it mandatory

Steps to link Adhar with PAN :-

• Kindly note for linking of Aadhaar card with PAN, the details of both must match. In the case of any discrepancies, you can upload a scan of your PAN card, or register via OTP on your linked mobile number.
• Keep your Aadhaar card and PAN card in hand and check if the details match on both.
• Log on to the income tax e-filing portal at https://incometaxindiaefiling.gov.in/
• Enter your user id and password to access your profile.
• If you are a new user, you need to register on the portal by entering basic registration details such as PAN, name and date of birth.
• On the website, click on Profile Settings> Link Aadhaar.
• A new window will appear. Enter your PAN number and Aadhaar card number, name, DOB, Gender.
• After entering the details, enter the text in the Captcha code.
• Click on Link Aadhaar
• This will link you Aadhaar card with PAN card. A success message will be displayed confirming the linkage of two cards.

The last date for linking Aadhaar card with PAN is June 30th, 2017 and it can be done online on the official website of Income Tax Department or by sending an SMS to UIDAI to link Aadhaar with PAN.

By linking the PAN and Aadhaar card, you will no longer have to submit your Income Tax acknowledgement to the IT department. PAN would become invalid if you don’t link your PAN card with Aadhaar card by June 30, 2017.

Assets and liabilities

Hello friends,
I am very new to blogger so if I make any mistake please ignore.  I came here because I am very fond of writing,  reading and learning as well. I wish to learn from you also. This is my first blog post. Please suggest me something to improve myself and my blogger.

So come to the point as my blog name 'how to make money' tells that this blogger is all about making money and to become rich. Friends I am going to tell you about assets and liabilities. Assets are those entities we earn something from and liabilities are those entities which are expenditures for us. So we should spend on assets not on liabilities.

Let us take  an example Ramesh and suresh are two friends they work for the same company,  for the same position and for the same salary. Whenever they get salary at end of every month Ramesh spend some part of his money on assets say stocks in market, bonds, shares, real estate etc. But on the other hand suresh spends his salary on luxurious things like expensive smart phones, branded cloths, on flats in which he lives, cars etc. But these things are not giving him future gain. These are liabilities because as time passes he has to maintain everything he buy for some cost he would has to spend. But on the other hand Ramesh spends on assets which will give him financial gain after some time. So after some years Ramesh becomes a millionaire and suresh is at that same position where he was.

Assets are those entities which give us gain in future and liabilities are those which do not give us future gain. So always spend on assets not on liabilities until and unless these are not much important.