The Art of Money by KG

In India, we get an option to open a joint bank account.  If I am opening a joint account with any of my family member or friend or colleague, I need to : provide a name as primary account holder, He/ She will be responsible for maintaining the account and will be considered the first owner. provide Identity and address proof for the primary owner. Similar , details and documents will be required for secondary owner as well. In case of any interest earned, investment done, capital gains earned or investment done, it will be considered to be earned or invested by Primary owner. However, Primary and secondary owners both can deposit or withdraw money from the account. In some cases, having a joint account is easier option as 2 or 3 people can operate the same account. However, it also increases the risk of fraud or mismanagement of money. So we need to be cautious in weighing pros and cons before opening a joint account.

Dear Friend, This is my attempt to give you some simple tips to save your hard earned money. After you land your first job, you are too excited to splurge money to gift a saree to your beloved mother, a nice watch to daddy dear, that expensive sports shoes to little brother, a nice purse to sister and loads of goodies for yourself, the hard worker ;) In a way, it is good to spend your salaries on our own leisure to enjoy our life. But after 6 months or 1 year you should move from  a spender to a saver. You should make a plan to save money for your goals and then spend the remaining money left in your account. Being some one who crossed this "Spender" phase of  life 6 years ago, I have accumulated some tips with the help of books, blogs, friends, well wishers , etc which helps me to plan my finances in an optimal way to reduce taxes and save money for my goals. I will be sharing these tips with you to help you learn finances like a pro. Happy planning an