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There is a lot that one can learn from their father in terms of financial management. Pixabay

By Siddhi Jain

For each one of us, not only are our fathers the strongest and the best, they are also the go-to person for all things related to our personal finances. Whether you have a doubt about where to invest; are unsure about the merits of a loan; or if you need an extra credit line at the end of the month, you know who to call.


Indian parents have always been financially prudent and there is a lot that one can learn from their father in terms of financial management. Here’s a roundup of some valuable lessons one can learn from our fathers, by CRED, a transparent and fully digital credit card payment platform.

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Practising financial self-reliance: With steady income comes the ability to be independent, however one can’t be wholly independent unless they are equipped with financial know-how. While it is good to have someone to turn to for advice, it is even better to become self-reliant by taking the initiative to understand how to manage money, do’s and don’ts, how to smartly use assets such as credit cards, and make smart investments.

Be smart and keep an eye out for saving early on: Every father knows the merits of saving which is a key reason why they always stress on the importance of starting to save from an early age itself, even if it is a small sum. It further instills a sense of responsible financial behaviour which comes in handy when one starts adulting and using a credit card. After all, a penny saved today can easily turn into a fixed deposit in a few years. Or money spent wisely on a credit card today, can earn you some amazing rewards tomorrow.

Pay on time or pay a fine: Punctuality in general is a great quality to have, however in case of financial matters it is of utmost importance, more so in case of credit card bills and EMI’s. Banks and other institutions often charge a hefty amount when credit cardholders fail to pay the minimum due amount in time, and late payments have a direct impact on the credit score.


There ain’t no planner like Indian fathers. Pixabay

Knowledge is power: Rarely would you have seen your dad jump into something without due diligence, especially matters related to finances. Before making any investment they spend hours reading and comparing, which highlights why one should ensure financial literacy is on point. The same applies to owning a credit card as well, as without a thorough understanding of the hidden charges, you could be looking upon extra charges upon charges. Also, do your research and find out about the rewards and benefits of the credit card you have so that you can make the most of the money you spend.

Planning ahead of time: Ain’t no planner like fathers! As safety and security of the family is of paramount importance, our fathers always ensured that they planned their finances well in advance, and followed the set budgets to bring their planning to fruition. This is a lesson that every child should learn from an early age. Start planning for smaller things in life so that it becomes a habit when you have to make bigger financial decisions. This is especially true for credit card expenditure, keep in mind any upcoming big payouts so that you have no surprises with the credit limit last minute.

Also Read: Blood Type Might Influence COVID-19 Severity: Analysis

Reading between the lines: Any time you look at a bill, take your time and go over it in detail. This especially holds true for your credit card bills, which may contain extra hidden charges. Whether it’s your credit card statement or the electricity bill, it does one good to be cautious and check the numbers twice. These simple yet important financial lessons can be incredibly effective in slowly creating personal wealth as you move along in life. (IANS)


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Photo by Wikimedia Commons

Killer Smog in Delhi.

Developed by the Indian Institute of Tropical Meteorology (IITM), Pune, a Decision Support System (DSS) that extends the ability of the existing air quality early warning system (AQEWS) to have decision-making capability for air quality management in Delhi-NCR was launched on Tuesday.

The website for the DSS (https://ews.tropmet.res.in/dss/) is designed to help the Commission for Air Quality Management for NCR and Adjoining Areas (CAQM) by delivering quantitative information about the contribution of emissions from Delhi and its 19 surrounding districts; the contribution of emissions from eight different sectors in Delhi; and the contribution from biomass-burning activities in the neighbouring states.

These information would assist in managing the air quality in a timely manner, a release from the Ministry of Earth Sciences said.

The need was stated by the CAQM, which was formed by the Ministry of Environment, Forest and Climate Change, during a meeting held in January 2021.

Recently, the Commission reviewed the progress made by IITM and had in principle approved the current version of DSS for air quality management in the Delhi-NCR. The IITM has also developed a new website for DSS with the entire system made operational, the release said.

Union Minister of State for Earth Sciences, Jitendra Singh, while launching the website for AQEWS on the occasion of 'Azadi Ka Amrit Mahotsav' week organised by the Ministry of Earth Sciences, said, "DSS is a significant contribution to 'Azadi Ka Amrit Mahotsav' on behalf of MoES and IITM and suggestions are invited on this issue."

The website also has a feature whereby the users can create their own emission reduction scenarios (from 20 different districts, including Delhi) so as to examine the possible projected improvement in air quality in Delhi for the next five days.

"This information would explicitly highlight the most important emission sources responsible for the degradation of air quality in Delhi and suggest possible solutions to ameliorate the same. With a plethora of quantitative data, the AQEWS integrated with DSS could become a user-friendly tool for air-quality management in and around Delhi," the release said. (IANS/JB)

Keywords: Delhi, India, Pollution, IITM, Ministry of Earth Sciences


Photo by GOI.

On the first day of the two-day meeting of BJP and Rashtriya Swayamsevak Sangh (RSS) leaders on Tuesday, discussions were held on important issues related to education and the National Education Policy-2020

On the first day of the two-day meeting of BJP and Rashtriya Swayamsevak Sangh (RSS) leaders on Tuesday, discussions were held on important issues related to education and the National Education Policy-2020. Apart from senior RSS leader Suresh Soni, representatives of various organisations associated with the Sangh Parivar -- working in the field of education -- were present in the meeting in New Delhi.

According to sources, Union Education Minister Dharmendra Pradhan, who attended the meeting on behalf of the government, shared information related to the National Education Policy-2020 and the government's policy on important issues related to the education sector. Pradhan also shared details of the efforts being made by the government in the field of education.

Discussions were also held regarding the impact of the situation arising out of Corona and how much it has affected the education sector. In the meeting, the RSS leaders asked several questions and provided suggestions to the Union Minister regarding the education policy of the government.

According to the sources, RSS wants the policy to be implemented expeditiously. All aspects related to the policy were discussed in Tuesday's meeting. On the second and the last day of the meeting on Wednesday, special issues related to education will be discussed in which representatives of various organisations of the Sangh, Union Ministers and several BJP leaders will be take part.

Meanwhile, in order to convey its point of view to the government on various issues, the Sangh keeps on calling such coordination meetings related to specific issues, in which RSS representatives -- working in that particular area -- provide feedback to the government. (IANS/JB)


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