Annual expeses planning

POSTED BY avi ON June 29, 2011 12:20 am COMMENTS (2)

Hi ,
I have some annual expenses which are fixed and repeat after every year like Vacation, College fees, annual ration, Car insurance & term insurance but they are staggered. Now for these expenses to be met without a problem i have planned to save monthly through SIP. Kindly advice a few MF’s and bit of education will certainly help.

Thanks ,
Avinash

2 replies on this article “Annual expeses planning”

  1. ashal jauhari says:

    Dear Avinash, In my view a plain product like bank RD ‘ll be better for your requirement as the Eq. MFs are stict no-no for such a short term of just 1Y & that too with mly SIP. Even if you opt for Pure Debt or hybrid Debt funds, The Taxation ‘ll not be favorable.

    Based upon your need, you may opt to open multiple RDs, maturing at different time frames. Interestringly most of the frontline banks now offer e- RD i.e. you may open RD from your netbanking.

    Thanks

    Ashal

    1. Avinash Borse says:

      Thx i did a RD!!!

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