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Make money online the right way

Financial planning does not always imply to manage your cash in hand. It does imply how one should plan to earn money as well. There are two ways of making money. 1. Active Income 2. Passive Income Active income means one person spending his time to do some work to earn some money. For example, we work to get salary, Shop keeper work to make sales. In this a person is needed himself to do some work and make money. Passive income on the other hand means you have done some work once and making money continuously from the same work that you already did in the past. The interest earned form savings bank fixed deposit is the best example of passive income. For that you are not working on it anymore. You earned the money in the past and kept it with bank. They use the money and give you benefit. Some other examples of passive income are, 1. FD interest income from banks 2. Income from rental of any kind of asset 3. Income from digital assets 4. Income of royalty, etc. On

How to save money as a fresher

Saving Money as a Fresher Hey There, Welcome to my blog on financial planning. I know you would like to grow financially. And you started your career now. Ok lets plan your finances. What all you have from the below 1. Study loan 2. Family commitments 3. Savings 4. Needs 5. Future plans Study Loan: When you have a study loan, that is a good thing. You already saves a lot on the low interest which you have paid. But recently as you started your job, the loan interest rate went higher. Now lets see how you can get benefit from this loan. Study loan interest can be deducted from income tax. If you are earning enough that your income invites some tax, then don't forget to use the interest on your study loan which will reduce the tax burden or some time your tax would be zero when you consider the study loan interest. Family Commitments Everyone has some or the other family commitment. I am sure you are not married yet. You have to take care of your paren