Deepak Jain

Best Passive Income Ideas Passive income is one of the types of income for which you need to work for a limited time and it generates income for many years. Blogging You can write blogs and share your knowledge with the world. You can use Blogger or WordPress for starting a blog. The blogs which you will write on your blog will generate money with the help of ads that you will run on your blog site. You can also write blogs for someone else via freelancing work but that will be counted as active income. Have a look at  Tips for Professional Blog Writing . Youtube Create youtube videos with the knowledge that you have. You do not need an outstanding idea, your youtube channel can be fun learning videos for kids or review video for cloths, etc. I can see many youtube channels that are just teaching ABCD or colors to kids but they are having many subscribers.  You create a video once but they will generate income for you till people are watching it.   You...

What is the Repo rate and Reverse repo rate? Repo and reverse repo rates are the primary tools that the RBI uses to control the level of interest rates in the economy. Repo stands for the Repurchase Agreement. Repo Rate The Repo Rate is the rate at which the RBI lends money to banks for short durations. Cutting the repo rate would mean that banks can borrow money from the RBI at a cheaper rate and can thus, in turn, lend out money at a cheaper rate as well - this incentivizes businesses and individuals to borrow money and increase spending/investments. Reverse Repo Rate The Reverse Repo Rate is the rate at which banks can park their money with the RBI. Cut in reverse repo rate discourages banks from parking idle funds with the RBI and increase lending instead. Please comment below and let me know if you want me to explain any other financial term.

How can you achieve Financial Freedom? Before answering this question we need to understand, what is Financial Freedom?  Financial Freedom means having enough cash and savings to live life on your own terms💸. In other words, you can attain financial freedom when you no longer work for fulfilling your daily expenses because you have already planned for it and you have surplus money to cover your expenses till the end of your life. It does not mean that you will stop doing any work. Because you have already taken care of your expenses so now you will put your energy into work which is more fulfilling to you like you may like to do blogging, painting, traveling, etc. Plan Financial Goal Planning is the stepping stone to achieve Financial Freedom. This will tell you how much amount you will need to become financially free. How to calculate the amount for financial freedom? Reduce Expenses and  Save Money Each step taken to reduce expenses and incre...

Types of Investment Fixed Deposit/Recurring Deposit Mutual Funds Systematic Investment Plan (SIP) Pure Gold / Paper Gold Property PPF PF

Best Ideas For Generating Second Source of Income In today's world having a single source of income (Salary) is not enough. If you lose your job then your primary income will be disconnected and you will get worried about how you  will   handle your financial liabilities like home loan, utility bills, apartment rent, etc. For mitigating this risk you should always build second source of income based on your ability. Here I am listing a few ways to generate a second source of income in your free time. Blogging This is the easiest way to share your knowledge with the world. You can use Google's Blogger or WordPress to create your blog. You can purchase a domain name and configure it. Enabling automatic ads like Google Adsense on your blog will relieve you from the worries of finding out an advertiser. Freelancing This is the best way to earn a secondary income. You can create your profile on Truelancer , Freelancer, Up work, etc. Add all your skills like...

How to save/make money? (1) Cashback: Cashback by using a correct coupon or payment methods on different online sites for expenses like bill payments recharges, bookings, etc. Cashback on cash load on an online wallet. Like amazon pay balance or Paytm wallet Add money. when there is an offer to add money like 1-10% cashback. (2) Credit Cards Points:  Use a credit card wisely and pay the bill on time. Credit card points will give you income/gift Pay credit card bill 2-3 days before the last payment day. (3) Sell old and unused things online:  Sell unused things on OLX. Buy things which you really need. Rent instead if you need it for 1 or 2 times and renting is cheaper. (4) Saving on shopping: Shop by a list. It will avoid unnecessary shopping. Avoid impulsive buying. Try to add things to the wish-list and then watch for a better price for a few days. Shop online and get discounts.  (5) Don't keep more amount in the bank:...

Financial Goal Planning: The reason for most of our financial worries and stress is poor or no financial planning. To understand what financial planning is and how to do it, Let's do one exercise. If you are married then do it with your partner. (1) Listing specific goals :  List down all the things (Max 20) that you want to do in your life and require money. These are your financial goals. For example - Buying a house (down payment, loan completion) School Education of kids, College Education of kids, Buying Car, Retirement, Kid's Marriage expense, Vacation in your home country, Vacation in a foreign country. (2) Effective Goals Setting :  For each financial goal right down below things - (A) How much money will be required to achieve it? (B) After how many yrs you want to achieve it. (C) Give priority to each goal (1, 2, or 3) This is a very important step. Priority#1 should be given to things that definitely need to happen. Priority#2...

Top 10 Reasons for "Why I like shopping from Amazon?" 1. Good quality products 2. Product image quality is good and the same as the actual product. 3. Amazon Pantry: Less Price as compared to other sites. Mostly cashback offers in the first few days. The additional cashback offers if you pay using ICICI debit/credit card. 4. Amazon Pay balance - A. cashback offers on Adding money to pay the balance. Mostly I add money when 10% cashback offer is there. Validity is mostly for 1 year. B.  Some % cashback on using pay balance as a payment mode. C. Amazon pay balance cashback offers on payment of utility bills, recharges, movie tickets, etc. 5. Save and subscribe: A. 5% on less than 3 items delivery for the month. B. 10% on 3 or more items delivery for the month. 6. Clarity on offers. No hidden conditions. 7. Easy return 8. Easy refund 9. Cash on delivery option available. 10. Frequent Sale and big discounts and offers.

Investment And Wealth Creation Tips for Beginners Below are my life learning - (1) Save before spending:  Every time you get a paycheque you should save at least 20% of your income. And increase saving with an increase in your income.  Please check out my detailed article for  Best Money Saving Tips (2) Learn share Trading: You should have Demat and trading account. Share investment is a very easy way to start your second source of income. (3) List down your life's financial goals as early as possible : 1. What do you want? 2 When do you want? 3 How much money will it require? Calculate how much money you need to save per month to achieve that goal. ( Www.sipcalculator.in ) For example, I want to have 1cr RS on my retirement. So if my age is 35 then I need to save 3050rs every month considering a 15% rate of interest till the next 25 yrs. I need to start SIP if I am expecting this much return. Please check out my detailed article on  ...