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Started by : Niranjan Meena, Actuary Manager, LIC   12 04 2009 07:18:12 +0000
Industry : InsuranceFunctional Area : India(Markets)
Activity:  86 views;  last activity : 07 06 2010 20:18:09 +0000

Managing money is becoming difficult these days, with food prices spiralling like anything and With education becoming increasingly expensive, parents are readjusting their lifestyles to ensure their child's education is not hampered. And in a recent survey a whopping 97% of young parents say they're saving primarily for their children's education. Money is the key for everything which gives one a secure lifestyle and also looks after their future needs when things are not that good. Though many of us  don't take this seriously and spend in an abrupt manner, it is high time we foresee things and think about how we can manage money efficiently.


http://www.moneymanagementideas.com/img/money-saving.jpg

And with this I would like to ask question to all the parents out there like, what will be your priority when it comes to managing money. which is the best option that you think will make your future secure?

 
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1 Child Insurance plan
2 Unneccessary shopping
3 consultants

Child Insurance plan

idea posted by Niranjan Meena Actuary Manager, LIC

I really agree with this survey done, and don't think just because I am from insurance field I am giving this idea, being a parent & being from the insurance field I know how important it is to go for insurance, simple insurance gives really good returns if one is having good knowledge about insurance, and with different insurance plans and fewer premiums which will cost one very less is the best way to manage your money for future, yes with increasing prices it is really difficult for a parent to manage money, though they can look after the school fees and all in the current itme, but then in future the price of education will be sky high and every parent would want their wards to go the best and be the best and that to happen we need to start in investing in the right things and I think Child insurance plans are the best way to secure their future and also yours in a way.

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Insurance cover is no more an option, but a necessity, especially in the case of single income families. And I second the point of planning for child’s educational expenses. Sadly the non profit business is a highly rewarding one. With India opening up for foreign universities definitely more quality, but it comes at a cost.

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really taking child plan or whole life unitlink plan will giveprotection to child future.

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Unneccessary shopping

idea posted by Prarthana Devi Database Architect/Designer, Leading IT Company

People these days indulge in lot of unnecessary shopping, They'll go to buy something and rather there will be a  footfall for other products and malls & these big retail outlets are more these days just because there will be more footfalls in these places, where people buy more than what they had intended for, and this is creating lot of imbalance in the spending structure of public, so if we are having a control on this then we can efficiently manage money for the future, I also agree it finally will be in the hands of consumer what he wants and it his or her decision, but then people can't really help it, so if we avoid this unnecessary shopping then one can manage money efficiently according to me.

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consultants

idea posted by BHARAT KUMAR ANYAW Construction-Construction Management, SARVODAYA GROUP

better to go for a consultant to know how to conserve money like me

have a hint

if u r intelligent enough then i have some questions to clear it out

what is the highest expense in one's life?

what is the way to clear it down?

if u can solve solve or come to me

one more thing in life each and every thing is important need to sort how to meet each and every demand.

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life needs all

all needs life

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