We Indians have more up front for savings rather than spending. We have got a long vision and we plan our future accordingly. Retirement is a most crucial part of an individual and he/she should have a relevant amount of savings to plan their retirement. And for this purpose we develop a habit of savings right from our initial days of earning. Now, the question is: Are we into the safer hands? Or Is our money secure?
The answers are lying not in words but in acts. There are some of the tips for making your money secure. Let’s hear that:
- Check your Accounts on a Daily Basis: Now a days, banks have given certain facilities like internet banking through which you can access your account frequently without visiting the bank. To get the higher security on your accounts, you should check your accounts on a daily basis and if some fraudulent activity with your bank account is being noticed, then immediately inform the bank about that. Now a days there is an insurance facility on your bank account, debit card, credit card, where all the fraudulent transactions in your account will be reversed by the bank, in case you have reported about the incident within 24 hours. So, adopting this habit will save you from big loss tomorrow and your money will be secured.
- Change your Passwords Frequently:
Passwords are the keys to access your bank account, debit card, credit card, internet banking. If somebody hacks your account and gets your password, then it may result into a great loss to your funds. So the first thing is not to share your passwords/PIN numbers with any anybody and second is to keep on changing your passwords and PIN numbers frequently. This will save your funds from any sort of fraudulent acts. - Don’t get Trapped in Fraud Calls:
Now a days, it has been in high notice that many people have lost their good amount of money after being trapped in fraud phone calls and emails. People will call you or mail you as a bank representative, asking your bank details with an instruction of depositing money somewhere in other accounts. Some ignorant people may get trapped in such blunders and end up losing high amount of funds. So, beware of such phone calls and mails. Strictly do not reply to them and never ever share your banking credentials with any third person.
- Make a Healthy Portfolio considering Risk and Return factors:
Do not invest your money only in one sort of investment. Diversify your investments into FD’s, mutual funds, PPF, shares, equities, bonds etc. This is because if one investment gives you high risk and less returns, the other investment with high returns may compensate your loss. Diversification will help your money grow in different platforms. So, make a healthy portfolio with balanced approach towards risk and return. - Go for a Bank having High Capital Adequacy Ratio: High Capital Adequacy ratio means the bank is having ample funds stored with it, even in case of depression or recession. That means, you are into safer hands, even if the economy or market is down. Your money will not get drowned and it will grow as the bank will have sufficient funds to carry on their banking functions even at the time of sour recession.
Therefore, these are the certain tips for making your money secure. Just abiding to these tips, you are certainly going to save your money from critical frauds and market/economy depression
Also Read:
http://indiaeclub.blogspot.com/2015/01/10-cr-aadhar-cards-linked-to-bank.html
