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We asked you, dear readers to share your best tips on saving money. This is what Sudershan Kumar shared.
"From my 40 years of experience I can say that best way to save money is by investing in PPF and that too by monthly installments.
"With a minimum of ₹50 to a maximum of ₹12500 per month you can get double the amount you invested. For example, if you invest ₹12500 per month you will get ₹45,00,000 after 15 years against an investment amount of ₹22,50,000 and that too without any tax.
"This is the safest way to save. All other schemes are less paying and risky too. By paying monthly one also does not feel burden.
"In between there is also a system of withdrawal in case of need. So keep saving for future of your children and also for old age."
We ask you, dear readers do you have any smart, effective and useful tips on saving money?
Have you applied these tips? Did it work? Share your tips and we'll publish the best ones on Rediff.com.
Write in to getahead@rediff.co.in with 'My tips to save money' in the subject line, along with your NAME, AGE and the place where you LIVE. Don't forget to send us your photograph.