The significance of the concept of saving and investing needs to be inculcated from the youngest age at home and school. In India, we start receiving ‘gift money’ as children. Such surprises come occasionally during festivals, ceremonies and events.

    Then there also is something called pocket money, which all of us have received with a smile. Think of it this way. If these amounts are saved and deposited in banks from the very beginning, they accumulate to form what we may call the base capital.

   Then, as you start earning, your base capital expands. And somewhere down the line, it paves the way for various forms of investments. Money can be multiplied by sensible personal finance planning that includes different types of short and long-term investments.

    Personal Finance Planning Timely financial planning acts as a brace to inflation down five, 10 or more years. The key to that is to....