Understanding the power of money and how to use it effectively is crucial. In this course, we explore various avenues where you can park your funds strategically to fulfil both short-term and long-term goals. From saving to investing, you will learn about key financial concepts to help you make the most of your money.
Chapter 1: What are Savings and Why are Savings Important?
Personal finance begins with savings. From beginners to specialised accounts for seniors, our guide explains everything you need to know about savings and how it can help you plan for future needs.
Chapter 2: What is a Bank Account?
Delve into the basics of bank accounts where we discuss how different banks generate their income through interest earnings. Discover the various methods banks employ to calculate interest on savings account balances and explore the different ways of optimising your savings strategy.
Chapter 3: Basics of Fixed Deposit
Delve into the world of Fixed Deposits and understand how they differ from Savings Accounts. Explore the factors that influence FD interest rates and gain insights into taxation on FDs.
Chapter 4: Basics of Emergency Fund
Explore the significance of an Emergency Fund. Learn the ideal amount to save and where to park your funds for accessibility. Understand how an Emergency Fund provides financial security and peace of mind in unforeseen circumstances.
Chapter 5: Basics of Investing
Discover why depending solely on a bank account for savings is insufficient to maximise your wealth. Determine your ideal investment amount and explore a diverse range of options to make informed financial decisions.