Tax-saving bonds are one among the important tax saving options available to individuals. Interest incomes generated by them are tax deductible and this is over and above the Rs 1 lakh tax exemption investors can avail of under section 80C of the I-T Act. A disadvantage of tax-saving bonds is that the interest rates offered are not adjusted for inflation which, at current 10% level, can significantly erode the value of bond investments. The bonds are for individuals with low risk appetite, who are looking to primarily preserve income and earn returns on the same as a secondary goal. Tax-saving bonds are issued by RBI and organizations belonging to both public and private sectors.

The Union Budget for 2010-11 introduced infrastructure bonds to help finance infrastructure projects which usually take 3-10 years to complete. Resident Indian individuals and HUFs can invest in the bonds and get a deduction of maximum Rs 20,000 in computation of taxable income for the current financial year.

For some of us money is a means to an end and we give scant respect to managing it well. We sometimes feel we are entitled to a constant supply of it and live under the false illusion that life as we know it is going to be the same for eternity. It's time then for a wake up call and if more than 4-5 of the aspects discussed below apply to the way you handle money, then beware! It is time for a stringent quality check and and doing your best to create better habits.

I am terrible with bills and payments!

Maybe its forgetfulness or a laid back attitude or a chaotic lifestyle, whatever the reason, if you are laden with unpaid bills, get fined for late payments 70 per cent of the time, bounce a few cheques every 10 months, then it is time to take stock of your organisational skills, at least in your personal finance department.

Keep a monthly tracker, set reminders on your mobile, keep an online calendar that beeps when bill, insurance and other payment deadlines arrive, choose whatever

When the economy slumps unemployment percentages, grim job prospects, and high inflation rates can rock any individual's boat. Those who once had a great credit score and made payment of bills on time could now face the fear of defaulting on their loans. Probably the next big thing on your monthly budgets after the mortgage loan is the car loan. And you would not want to default on this for obvious reasons. One, it will destroy your credit history and two you might lose your car to the repo man! But when does a default actually happen? Does making a deferred or skipping the payment for a month or so constitute a default? Will your car be repossessed then?

When does a default happen?

Technically, a car loan default happens when a customer repeatedly fails to make the agreed car loan payments to the lender/bank that lent the money for its purchase. But is there a prescribed number of payment failure mentioned? Yes. Usually, the car loan agreement that you signed with your lender/bank