Savings and Investment
Definition of Savings: -
Savings, consists of the amount left over when the cost of a person's consumer expenditure is subtracted from the amount of disposable income he earns in a given period of time. For those who are financially prudent, the amount of money left over after personal expenses have been met can be positive; for those who tend to rely on credit and loans to make ends meet, there is no money left for savings. Savings can be turned into further increased income through investing in different investment methods.
Definition of Investments: -
To invest is to allocate money (or sometimes oanother resource, such as time) in the expectation of some benefit in the future.
In finance, the expected future benefit from investment is called a return (to investment). The return may consist of capital gain and/or investment income, including dividends, interest, rental income etc. The economic return to an investment is the appropriately discounted value of the future returns to the investment
Methods of Investments in India: -
1. Bank
I) Savings Bank Account
II) Fixed Deposit
III)Recurring Deposit Account
2. Post Office
I) Savings Bank Account
II) Fixed Deposit
III) Recurring Deposit Account
IV) Monthly Income Scheme(MIS)
V) Kisan Vikas Patra(KVP)
VI) National Savings Certificate(NSC)
3. LIC
4. Provident Fund
5. Public Provident Fund
6. Investments in Shares and Debentures
Advantages of ATM: -
You can withdraw cash at any time, day or night. ...
ATMs offer the convenience of multiple locations. ...
Your ATM card is protected by a PIN, keeping your money safe.
You don't need to fill out withdrawal and deposit slips as is required at the bank.
ATMs are faster than going to the bank—no long lines
Definition of Credit Card: -
A credit card is a payment card issued to users (cardholders) as a method of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them.The issuer of the card (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
Savings, consists of the amount left over when the cost of a person's consumer expenditure is subtracted from the amount of disposable income he earns in a given period of time. For those who are financially prudent, the amount of money left over after personal expenses have been met can be positive; for those who tend to rely on credit and loans to make ends meet, there is no money left for savings. Savings can be turned into further increased income through investing in different investment methods.
To invest is to allocate money (or sometimes oanother resource, such as time) in the expectation of some benefit in the future.
In finance, the expected future benefit from investment is called a return (to investment). The return may consist of capital gain and/or investment income, including dividends, interest, rental income etc. The economic return to an investment is the appropriately discounted value of the future returns to the investment
Methods of Investments in India: -
1. Bank
I) Savings Bank Account
II) Fixed Deposit
III)Recurring Deposit Account
2. Post Office
I) Savings Bank Account
II) Fixed Deposit
III) Recurring Deposit Account
IV) Monthly Income Scheme(MIS)
V) Kisan Vikas Patra(KVP)
VI) National Savings Certificate(NSC)
3. LIC
4. Provident Fund
5. Public Provident Fund
6. Investments in Shares and Debentures
Advantages of ATM: -
Definition of Debit Card: -
A debit card (also known as a bank card or check card) is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money comes directly from the user's bank account when using a debit card.
Definition of Credit Card: -
A credit card is a payment card issued to users (cardholders) as a method of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them.The issuer of the card (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
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