Saving for the annual Insurance

Usually in January, most of us have to pay a lumpsum amounts for Insurance, PPF etc. If you are like me, I never have that the kind of money at that point in time. Because, guess what..I have spent it. Money never link of lies in my account. Its always working its ass off.

Anyways, to mitigate my situation, what I do is open a recurring account at the start of year. For eg, If I have to pay Rs 50,000 in January next year, I open a recurring account for Rs 4200 for 12 months.

This has 2 benefits. First It gets me to set aside some money every month. Second, I don't have to sweat it out at the end of year trying to figure out where will I get the money from.

Gold ETF

During the past 2 years I have heard people gush over gold prices and how the prices are going to go higher and higher. It has of course kept up to the expectations and gone really high. I remember when my sister got married in 2005, gold was Rs 8500/ 10gm. When I got married in 2007, it was Rs 11,000. Today, 3 years later, the price is Rs 16,000. You get the idea.

Anyways, I have been meaning to invest in Gold ETF for some time now. Today after consulting with few people, I plan to purchase Benchmarch Gold ETF (GoldETF)