There are various ways to save money depending upon your risk apetite. If you are conservative then you may opt for fixed income returns like FD, Bonds, NSC, KVP etc. and if you can take some risk then you can invest a part of your savings in Equities like MFs or direclty to stocks.

Answered by mr moody , an ibibo Citizen, at 12:55 PM on October 25, 2008

Budgeting the monthly expenses, cutting down on unnecessary expenses & investing in Fixed Deposit with recurring deposit would be the right way of saving from fixed income of salary.

Answered by Priya V , an ibibo Advisor, at 1:12 AM on October 25, 2008

go 4 systemetic investment plan with a good bank.

Answered by rakesh , an ibibo Citizen, at 11:34 PM on October 24, 2008

most of the middle class is a salaried group and need to save.
well, there are some kind of savings like a the provident fund ect. for which the organisations deduct mandatorily. one must plan in such a way that the PF remains untouched. this is a huge saving.

then one can go in for some kind of LIC policy, an endowment policy or something that gives you some amount after every five -six years. a small percentage of your monthly income can form your premiums.
for details you can visit -
http://www.licindia.com/

to chat live with an insurance advisor visit-
http://www.licindia.co m/insurance_advisor.htm

the re are some very handy ways of saving, one can open an recurring account in the bank, this functions differently than the savings account. one has to deposit a stipulated amount every month and recurrently the whole amount gets added up. in between the period you cannot withdraw any sum.

a matter of fact

household expenses are surely very high but one must try to curtail unnecessary expenses. don't compare with your neighbour and don't try to compete with him in buy materials. he may buy a car after saving an planning but to compete you will have to buy without thinking about the future.

make a budget of the salary that you receive. note all expenses in a note book and then remove the unnecessary ones and put the left over in the bank so that you don't have it handy.

plastic money is very convenient but remember that the money paid through the credit has to be paid by you so make use of it only when you cannot do without it. never show off with the credit card. believe me, i love going out shopping but i don't own a credit card.

where there is a will there is a way, just plan, one can save even from a meager income.

Answered by A Banerji , an ibibo Master, at 10:48 PM on October 24, 2008