A year of fighting to break the link between mental illness and money problems…

Fourteen years ago I started this site, MoneySavingExpert.com. Now my second career baby is celebrating its first birthday – the Money and Mental Health Policy Institute (MMHPI) charity.

This time is a somewhat difference experience. I’m at a different stage of my career, and while I founded the charity, and have pledged to fund it for the first four years – it’s not a day-to-day task for me – there’s a superb full-time team of six doing that.

To coincide with the charity’s first birthday, it’s published an annual report filled with really incisive research. My somewhat prosaic and formal Chair’s foreword is below, but I thought it worth publishing here as a matter of record.

Before you start, if you or a loved one has had experience of mental health issues, do consider joining MMHPI’s research community.

“Money troubles and mental health problems are a marriage made in hell. Just a year ago I established the Money and Mental Health Policy Institute (MMHPI) to tackle that toxic combination.

“While over the last decade the financial services industry and others have made great strides in dealing with those already in the mire, little had been done to prevent problems in the first place.

“MMHPI is therefore tasked with conducting high quality, rigorous, innovative research to develop practical policy solutions to tackle the relationship between the two.

“The Institute has made huge strides already, establishing a reputation as an independent thought leader, and the go-to agency on these issues, as if it had been around for a decade. It has become a critical friend to both the financial services industry and the health system.

“I am proud to reflect on the rapid progress that has been made and very grateful to the charity’s brilliant Director, Polly Mackenzie, and her dedicated team for their vision and dynamism. It has resulted in not just seminal research and acres of column inches to enhance the debate, but most crucially a tangible impact on both policy and practice, making real difference to real people.

“In our first few months the charity established a headquarters, recruited a talented and committed team, and laid the groundwork for our future research by launching ‘Money on Your Mind’, an unprecedented study of the experiences of 5,000 people with mental health problems. Thank you to all the volunteers who took part – learning about your lived experience is invaluable and helps ensure our ideas will work in the real world.

“That report established the key pathways between mental health problems and financial difficulty and highlighted areas where we, and others, can make a real difference.

“It also highlighted a hidden difficulty many faced in getting financial resolution. Lenders were requesting they submitted the ‘debt and mental health evidence form’ in order to be treated as vulnerable customers. Yet some found their GPs charging to sign this form: an unwelcome deterrent at a time many were at their most vulnerable. We campaigned on that, and in January the Prime Minister agreed to investigate changing the way it operates.

“Over subsequent months our health research demonstrated the ‘drag’ on recovery rates in mental health services presented by financial difficulty, and found that very few local areas are systematically tackling the issue, at the cost of both the patient and the NHS. We built strong relationships within government and the health system and are now scoping out the possibility of a pilot intervention in 2017/18.

“Our research within the financial services world has looked at issues from controlling spending to the role carers play in financial management. In January we published the results of an extensive literature review, mapping the likely impacts of a range of mental health conditions on financial capability and making the case for reasonable adjustments to products and services to ensure equal access for everyone.

“The case is well established for people with physical health conditions and I am proud it has now been made so clearly for people with mental health problems too.

“Building on this challenge to the sector, we partnered with the Financial Conduct Authority to run a two day ‘techsprint’, bringing together 100 developers from financial institutions and technology firms to build tools that might help. It was exciting to see first hand how the Institute’s research is already inspiring real change.

“Perhaps most importantly of all, in our first year we have built an ongoing thriving community of 2,000 people with personal experience of mental health problems. Their experiences and ideas underpin everything the Institute does, and we are hugely grateful to them for trusting us with their stories, and for joining us on this journey.

[If you’d like to join you can volunteer here – we’re under-indexing on male volunteers, if you know anyone who may be interested.]

“I’d like to thank the trustees for their time, our dedicated team for making our first year such a success, the advisory panel for their continued steerage, and the wider debt, financial services and mental health sectors for welcoming us so warmly. We look forward to continuing to work together and making further progress in 2017 and beyond.”

10 Best Job Opportunities for 10+2 Failures and College Drop-Outs

NOT all of you will become doctors, engineers or lawyers. There are some students who are not able to perform well in their academics. This blog post is dedicated to those students who have failed in 10+2 or they are college drop-outs.

10+2 Failures Jobs

There are number of job opportunities for such students. They do not need to get disheartened because of their poor academic performance. Today even a 10+2 failure or a college dropout could a find a job which can pay handsomely.

So, if you are such students then I have jot down a list of 10 best job opportunities. You can choose anyone of them and start working if you do NOT want to continue your studies.

Here are they.

1. Starting Your Own Business

Although this is not a job but still if you do not want to study further, then the best job to start is your own business. You could start a small size business with the help of your parents.

I have seen many students who are 10+2 failures or college dropouts starting their own business. It will obviously need some money that you can ask or borrow from your parents.

You can find out the list of 131 excellent business ideas that you can start with low investment.

  • Job Description: Your Own Business
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: 18 years to 27 years, any age
  • Skills: Good Communication Skills
  • Salary: Rs 10,000/- to Rs 50,000/-

2. Sales Representative

Next job that a 10+2 or intermediate failure could try is a sales representative. It is very easy to do and normally companies who recruit sales representative, don’t ask for any educational qualification.

In this job, you have to sell products to customers. Now selling could be door to door where you have to go to the door step of customers and sell the given product.

Companies like Reliance, Airtel, McDonalds etc always requires sales representative.

This job opportunity is always available and you can get it in any season. So boy or a girl you can give a try for sales representative job.

  • Job Description: Sales Representative
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: 17 years to 27 years
  • Skills: Selling Products
  • Salary: Rs 7,000/- to Rs 20,000/-

3. Data Entry Operator

Among many job opportunities, data entry operator is also one. This job suits for college dropouts the most. Even 10+2 failures could also give a try but college dropouts would be appropriate candidates for this job.

You can easily find a data entry jobs if there is a demand or recruitment going on. Many small and medium-size companies need data entry operator.

The only skill you need here is good typing speed. You must be able to type 40 to 50 words per minute. If you do not have good speed, then you can practice on your PC and you will learn in few weeks.

  • Job Description: Data Entry Operator
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: 18 years to 28 years
  • Skills: Writing Speed of 40 – 50 Words Per Minute
  • Salary: Rs 7,000/- to Rs 120,00/-

Check: 25 Data Entry Jobs from Home

4. Call Centre

Now call center job is also good for both 10+2 as well as college dropouts. If you want to apply for local call centers then 10+2 failures could apply. Here you need to talk in the local language of the state.

But for international call centers, you must have 10+2 so it suits college dropouts. Here they would not ask your educational qualification but they would look to your good English speaking skills.

Because of outsourcing call center jobs are also available in abundance. You can walk give an interview.

  • Job Description: Customer Support
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: 18 years to 29 years
  • Skills: Talking and Communication Skills
  • Salary: Rs 7,000/- to Rs 35,000/-

5. Network Marketer

Network marketing is another best career for 10+2 failure. There are many network marketers who are not educated but makes millions.

Basically, it is like marketing but here you have to build a team under you. You might have heard about the companies like Amway.

Here, first, you have to become a member of big network marketing company & then you have to get in more members under you. As your members grow you make more money.

So 10+2 failures or college dropouts could also start this job. You need to pay some amount to become a member. With some experience, you can more money.

  • Job Description: Network Marketer
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: 17 years to 28 years
  • Skills: Building Network and Leadership Quality
  • Salary: Rs 10,000/- to Rs 50,000/-

6. Mail Posting Jobs

Mail posting jobs are another great job opportunities for 10+2 failures and college dropouts. In fact, this job is not just for them but women and housewives could also start it.

This is because it is a home based job. Here you have to post letters that could be pamphlet or brochures that is going to promote someone else business.

This job needs some basic investment in stationery like envelope, creating letters and posting expenditure. Here also you have to register for a company.

This type of job is for 10+2 failures, college dropouts and housewives.

  • Job Description: Mail Posting
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: No Age
  • Skills: Posting and Creating Good Letters
  • Salary: Rs 7,000/- to Rs 40,000/-

7. Indian Army and BSF Jawan

Although these job opportunities like India Army or BSF Jawan comes under defense sector but if you like then you can also apply. It is very tough job and requires physical fitness.

You must prepare for transfers in remote areas of the country. This job is best for 10+2 failures; college dropouts could avoid this job. You can check our defense job category for latest openings in Indian army.

  • Job Description: Indian Army or BSF Jawan
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: 17 years to 24 years
  • Skills: Strong Physical Body
  • Salary: Rs 7,000/- to Rs 120, 00/- Plus DA/TA

8. Blogging

Job opportunities are blogging and in coming paragraph Online jobs are bit different than the rest of the jobs. Blogging is an online job.

Although blogging also do not require any educational qualification and even a child could start blogging.

But here you need to have passion for writing and creating things. So a 10+2 failure or college dropouts can apply for blogging but you must have some intellectual level.

  • Job Description: Blogging
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: No Age
  • Skills: Writing
  • Salary: Rs 7,000/- to Rs 20,0000/-

9. Online Jobs

Like blogging there are many jobs available online. These jobs do not require any educational background and 10+2 failures or college dropouts could easily apply for it.

However, you need to spend some time on Internet and need to know more about this.

  • Job Description: Online Jobs
  • Eligibility: 10+2 Fail or College Dropouts
  • Age: No Age
  • Skills: Computers and Internet
  • Salary: Rs 7,000/- to Rs 100,000/-

10. Many Sarkari Naukri from Employment News

Finally, if 10+2 failures and college dropouts are looking for jobs then they could subscribe for weekly employment news.

You can also subscribe to our website SureJob for free jobs alert.

You could find many such job opportunities coming out for them in this news paper. These jobs range from railways to police, banks to defense etc. It covers all such jobs.

131 Business Ideas, Online Business, Small Business Ideas with Low Investment

If you are a young graduate or a 9 to 5 employee who want to quit his/her job & looking for business ideas then this post is for you.
Now it is the best time to start a business. Business friendly governments around the world support businessmen like you to start a new business.

In this article we are giving you 131 business ideas that can help you in getting started.

We have listed all types of business ideas like online business ideas, small business ideas with low investments from Rs.10,000 to 1,00,000.

You can even find medium sized business ideas above Rs.10,00,000. You can even find small manufacturing business ideas here.

131 Great Business Ideas with Low Investment

business ideas

So let us see these business ideas one by one.

Online Business Ideas with Low or No Investment

Online businesses are the hottest business opportunities provided you have interest & knowledge in starting an online business.

Here are some of the online business ideas you can start with either very low or no investment.

1. Online Home Business

This is the easiest way to start an online business from home. There are number of options in this category and most of these online businesses are free to start.

You can find all these options here.

We have created one of the best training package to start these online businesses. So you can signup for free to get this training package.

2. Blogging and Publishing

blogging business Now we shall look at series of businesses that can be started online. You just need to have few computers and internet connection.

You start a blog or a website and publish articles daily online. You can start with a minimum investment of Rs.2000 to buy a domain & hosting for your blog.

However the main investment is your passion for blogging. You can turn this hobby into a business. Read more about making money from blogging here.

3. Online Freelancing – Data Entry, Content Writing

freelancing You can also write content online for various publications. Websites like Upwork, Elance etc have companies that need content writers. You can take up projects and finish it on time and deliver it.

You can also start giving data entry work to others. However you have to take projects from the company who is willing to outsource this job to you.

4. Web Designing and Coding

Web DesigningWeb designing and coding for various software applications is great IT business. It can be done on small scale level. Minimum investment is Rs.10,000.

You can get clients where you design websites, code various mobile and desktop app. You must have expertise in coding and also you need a team with experienced programmers.

You can find various web design courses here.

5. SEO Experts

SEO business SEO related projects are in great demand if you are working with websites and blogs. You can easily make minimum $1000 per month with this business.

You can start a SEO business online and turn it into a big business. However you must know everything SEO and got to hire SEO experts.

If you know SEO, then you can implement this for yourself for getting SEO clients & also promote yourself on social sites like Facebook.

6. Amazon, eBay, Flipkart Seller

Thousands of people all over India are making big money by selling different types of products on sites like Amazon, Flipkart, Snapdeal, eBay etc.online selling business

Just search for a good product in the market that has good demand or something that you can buy for very cheap & sell at a good margin on these sites.

Then become seller on these sites & start selling the products. Everything is simple but initial efforts are required to understand the system. You can start with a minimum investment of Rs.10,000.

7. YouTube Video Making

Not for everyone but gives you an opportunity to ordinary people like you to become an internet celebrity & make big money.YouTube partner

You need to join YouTube Partner Program and upload videos which are popular on YouTube like songs & dance videos, funny videos, tips & ideas, humorous videos etc.

Your earning depends on the number of views your videos will receive. There are people who are making millions of dollars from this program.

Just you need is a video recorder and a talent to impress the world.

8. eBook Writing and Podcasting

eBook writing If you have passion for writing and want to publish your book and not getting any publishers then you can write an eBook, publish it online & make money.

You can set price and sell online. All the technical details you will learn online.

9. Online Tutoring and Consulting

Online Tutoring Instead tutoring offline you can do online via Skype. You get paid for every session you conduct.

Later you also consult online and make it a full time profession.

So these were few online business ideas to start.

10. Desktop Publishing

Desktop publishing is very profitable business however you must know how to work with Adobe Photoshop.

You also have to hire professional desktop publishers if you are getting customers on daily basis.

You will also need an office space.

Business Ideas Under Rs.50,000/-

11. Food Catering Services

food catering business Here you take orders from customers for special occasions like marriage, birthdays, anniversaries etc.

Food catering service is relatively cheaper than opening a restaurant or a fast food joint. You just need Rs 25,000/- to Rs 50,000/- to get started.

12. Lunch Box Delivery Service

Lunch box delivery service is where you hire men to deliver lunch boxes to people working in offices. You don’t have to prepare food as you just collect the lunch boxes from an area and deliver to respective people working in offices.

13. Distributors and Dealers

Distributors sell to dealers and dealers sell directly to consumers. As a distributor you will buy products from a company and sell it to dealers. You need a warehouse and transportation for receiving and delivering goods to several dealers. Invest Rs 4 to 5 Lacs.

14. Laundry Shop

Laundry Shop Either you have to hire men for laundering or buy a laundry machine. You also need to advertise in order to reach out to more customers. Minimum investment of Rs 50,000 to Rs 75,000 is required.

15. Fast Food Joint

While opening a fast food joint you will need a kiosk that can be movable as well as immovable. You need money (Rs 2 to 3 lac) for owning a kiosk, procuring food items, few men for cooking and counter jobs.

16. Meat and Seafood Shop

Meat and seafood shop needs you a cold storage where you can store the food items. Apart from procuring fresh meat and seafood you need to invest in cold storage facility.

17. Restaurant and Food Truck

Open a family restaurant in a prime location. You will need men for cooking and servicing the food. You also have to procure fresh food items that will be prepared for your customers. Minimum investment of Rs 5 Lacs to Rs 6 Lacs.

18. Candle and Soap Making

candle & soap making If you can’t afford starting above mentioned businesses from point 11 through 14 then you can start with following 4 business ideas.

You easily acquire the raw materials like right kind of wax, the right equipment and technique to melt the wax and dealing with legal side of the business.

Minimum Investment: Rs 25,000/- to Rs 50,000/-

19. Idol Making

In festival season there is a demand of idols of various deities. In idol making business you need clay, paint and off course the idol maker.

Minimum Investment: Rs 25,000/- to Rs 40,000/-

20. Paper Bag Making

Paper bag making is really great because you need hardly an investment of Rs 5000/- to Rs 10,000/-. You need to collect newspaper and glue to get started.

Anyone can do it.

21. Pickle and Jam Making

Best for women entrepreneurs! Only thing you need is raw material, certain preserving chemicals, bottling and packaging and licensing. That’s it!

Minimum Investment: Rs 25000/- to Rs 50,000/-. Jam business could cost more.

22. English Coaching Academy

English Coaching Academy English Coaching academy bit different than taking tuition. Here you have to look out an office space where you can establish your academy.

You also have to spend money on advertising by distributing pamphlets, ads etc.

23. Cooking Class

Cooking class is great for women and you hardly need any investment to start it. Only you need to advertise to people who don’t know.

Minimum Investment: Rs 10,000/- to Rs 20,000/- for kitchen ware and fresh produce.

24. Acting and Dance School

This is very good if you live in an urban city. You can easily establish an academy where you teach young kids.

However the most important investment will be choosing a right location where you can find a lot of kids.

25. Interior Designer and Decorator

In very high demand if you live in an urban city. You will not have a problem getting clients because so many people buy homes daily.

You need to have experience, certification and advertise to spread a word about your company.

26. Mail Order Business

Mail Order Business Mail order business is not new. The best part of this business is you can run right from the comfort of your home.

You just need to pay for getting registered with a franchise. You also need basic stationery like envelopes for stuffing pamphlets, stamps, glue and most importantly money for printing pamphlets.

27. MLM

Multilevel marketing is not new and you already know about it. You can make it into a real big business if you are serious.

You just need to get registered for a company and start advertising on bus stops, newspaper, through distributing pamphlets etc so you get more members under your leadership.

28. Stock Marketing and Forex Trading

Not exactly a business but if you have interest in stocks and trading then definitely you can make some money here.

However you have to be careful about your money because you can lose it if you don’t how to trade. So put your money smartly.

29. Palm Readers and Astrologers

Palm Reading business This is definitely a small niche but if you can find right clients then this could be a great business idea. You must know everything about astrology, reading cards etc.

30. Counseling of All Types

Counseling can be done for various purposes like for career counseling, stress relief, personality building, finance etc.

You have to find your niche and get started.

Business Ideas Under Rs.1,00,000/-

31. Realtor

Real estate agent has nothing to lose. You make money from both sides. However you must have contacts so you get clients more often.

32. Indian Sweets and Condiment ShopIndian Sweets shop

Indian sweet shop is different than opening a bakery. You need experienced Halwai who know how to make traditional Indian sweets. The real challenge is the recruiting men and not the money for starting the shop.

33. Aggarbati and Beedi Making

Register your business and acquire raw materials like bamboo sticks, different powers, stick making machine and various machineries.

Similar for Beedi making you have to get license, tobacco, leaves and manpower to start the business.

Minimum Investment: Rs 50,000/- to Rs 100,000/- depending upon machinery.

34. A Coffee or Tea House or Other Beverages

tea_house You can easily replace café coffee day, Barista or Starbucks by opening your coffee or a tea house. You need to look out for location and hire men for servicing. Rs 50,000 to Rs 100,000 would be fine.

35. Pottery

Pottery making is quite similar to idol making. You need clay, spinning machine, furnace and manpower. You will also need clearance from government for their environmental concerns.

Minimum Investment: Rs 50,000/- to Rs 100,000/-

36. Hemming, Tailoring and Stitching & Knitting

Tailoring shop would require nothing much. All you need is sewing machine and professional tailors. You can take orders and finish the job at a given time.

Minimum Investment: Rs 50,000/- to Rs 75,000/- mainly and sewing machines.

37. Weaving and Embroidery, Wedding Dresses

It is more than tailoring business. Here you make customized dresses for special occasion by taking orders from the customers. You must have necessary skills in weaving and embroidery.

Minimum Investment: Rs 75,000/- to Rs 100,000/- and few craftsmen.

38. Xerox and Book Binding Shop

The main investment would be buying machinery and a Xerox machine. A book binding machine could cost you over Rs 50,000/- and a Xerox machine would cost around Rs 50K to 1 Lac.

39. Mobile Phone and Electronic Repair Shop

You must have all the know-how about repairing electronic gadgets like mobile phone and laptops.

Here you don’t need much of an investment in acquiring various equipments but you do need a shop in prime location.

Minimum Investment: Rs 50,000/- to Rs 100,000/-

40. Coaching Center – Tuition, Dance, Martial Arts etc

Now diverging from starting stores to establishing academies!

Coaching center for tuition, dance, martial arts etc! You can start from home but later look out for an office in a prime location.

Minimum Investment: Rs 10,000/- to Rs 100,000/-

41. Gun Shooting School

Gun Shooting School Although gun culture is not very popular in India but if you know about guns then you can open a gun shooting academy.

Yes most important thing would be licensing and also finding customers because the niche is very small.

Minimum Investment: Rs 10,000/- to Rs 100,000/-

42. Ticket Booking and Reservation Service

You start ticket booking service for Indian railways, state transport buses and even domestic flights.

You do not need much as just a computer with internet connection will do it.

Minimum Investment: Rs 50,000/- to Rs 100,000/-

43. Cleaning Services

You offer cleaning services to homes, shopping malls, office buildings and other places where they are needed.

You hire them and supply to your clients. The main investment will be in hiring and training of workers.

44. Landscaping and Gardening Services

They are in high demand as organizations want their building to look more green and attractive.

Again you have to hire men and train them how to work with various mowing and chopping equipments.

45. Doula Services

Doula Services Doula services are still very rare in India. But you can find niche in urban center where affluent people live.

You need experienced handler or monitrice who can handle delivery when a woman is going through labor.

46. Plumbing Services

Just like masonry or cleaning services plumbing services fall in the same category.

You have to recruit plumbers and provide them to clients like construction companies or individual clients.

Minimum Investment: Rs 50,000/- to Rs 100,000/-

47. Home Renovation Service

Again it is similar to plumbing service where you only renovate homes of different clients.

You need men and basic supplies like paints, brushes, ladders etc.

Minimum Investment: Rs 50,000/- to Rs 75,000/-

48. Gourmet or Personal Chef

You will be personal chef for your clients and cook food whatever they like. Off course you must know how to cook different kinds of food and also have some contacts.

49. Computer Hardware and Software Installation Services

Profitable as well as very easy to start a business like software installation. Everyone buys new computer and they want to install software like OS, MS Office etc.

If you have collection of all the necessary CDs and software then you don’t need much of an investment.

50. Home Grown Organic Farming

Home Grown Organic Farming Similarly you can start organic farming from your home. You will need special kind of seeds, fertilizers and other equipments.

Minimum Investment: Rs 50,000/- to Rs 100,000/-

Business Ideas from Rs.1,00,000 to Rs.5,00,000/-

51. A Bakery, Condiment and Chocolate Store or Cooking School

Opening a bakery or a condiment store is bit more sophisticated then opening up a restaurant. You need raw material like flour, sugar, coco powder, dough machine and few helpers. Minimum investment of Rs 1 Lacs to Rs 2 Lacs would be enough.

52. A Provision and Vegetable Store

Provision store or a vegetable store will never run out of business. This is an easiest way to start a business with an investment of Rs 150,000/- to Rs 200,000 for procuring necessary items.

53. Saw Mill Business

Similarly a Saw Mill Business would require you investment in heavy machinery and hiring manpower.

54. Pet Breeding and Training Business

Pet Breeding Business You can breed pet and also train them. For breeding business you must have required semen specimen for breeding and permit.

55. Papad Making and Honey Processing

Acquire raw materials like various pulses, spices, rolling machines etc. You can either hire workers or spend on automatic papad making machine.

Similarly for honey business you need a farm where you rear bees.

Minimum Investment: Rs 75,000/- to Rs 200,000/-

56. Toys Making

This would need more investment because of machinery and equipments like drilling, punching, cutting etc. You can start the business by making wooden toys because you can escape regulations and other quality control measures.

Minimum Investment: Rs 75,000/- to Rs 200,000/-

57. Beauty Parlor and Makeup, Barber Shop or Salon

This is nothing new. For equipments and supplies you will need cosmetics, shampoo bowls, scissors, combs and chairs. Chairs will cost you real money. You also must have trained beautician.

Minimum Investment: Rs 200,000/- to Rs 500,000/-

58. Store/Boutique for Clothing & Fashion Accessories for Men, Women & Kids

Boutique Here you will serve high end customers with fancy dresses and other fashion accessories. You need money for opening a store in great location, dresses and other accessories.

Minimum Investment: Rs 300,000/- to Rs 600,000/-

59. School Uniform Store

You cater to specifically to children who are in primary schools. You need clothes and tailors for stitching clothes. You also need to do some advertising in your area.

Minimum Investment: Rs 100,000/- to Rs 200,000/-

60. A Bookstore and Stationery Shop

Start procuring books from different publishers and sell it with a profit margin. You can also sell stationery items as supplements. Location of the store is very important like school or college campus etc.

Minimum Investment: Rs 200,000/- to Rs 250,000/-

61. Custom Made Festival Gifts

Now we are diverging here.

Here you need artistic skills like working with wrapping papers, streamers designing them and delivering to the clients.

You will be preparing gifts for special occasions, marriages etc.

Minimum Investment: Rs 100,000/- to Rs 200,000/-, mainly in advertising.

62. A Florist and Flower Delivery Service

A burgeoning business! You need to supply of fresh and exotic flowers. You also need to find a right location for establishing your shop.

Minimum Investment: Rs 100,000/- to Rs 200,000/-

63. Gaming Parlors

Gaming parlors are quite popular with kids and younger generation. You need high speed computers with high speed internet.

You also need furniture and cabins.

Minimum Investment: Rs 100,000/- to Rs 200,000/-

64. Music and Videos DVD Store

You sell DVDs, CDs for music and movies. You also sell high end accessories that are popular among high end customers.

You need to contact distributor for acquiring original CDs. Minimum Investment: Rs 200,000/- to Rs 400,000/-

65. A Drug/Pharmacy Store

Very profitable business because of rising demand for drugs and other pharmaceuticals!

The most important thing is the license and a 2 year D pharmacy degree. You also have to acquire all the necessary medical supplies.

Minimum Investment: Rs 400,000/- to Rs 500,000/-

66. Scrap Store

Scrap Store You basically collect all the junk from newspapers to plastic to discarded metals. Here you need men who will collect all the junk from a given area.

You also need to contact the seller or company where you are going to sell all your collected junk.

Minimum Investment: Rs 100,000/- to Rs 150,000/-

67. A Driving School

This is real and you have seen many driving school. You don’t need much to get started.

The most important part is off course driving license and the license is not an ordinary driving license. You also need to buy few second hand cars.

Minimum Investment: Rs 100,000/- to Rs 300,000/-

68. Travelling Agency

First you have to get approval from either government or IATA (The International Air Transport Association) to become an agent.

You also need service tax registration. A large chunk of your investment will also go into advertising your new business.

Minimum Investment: Rs 200,000/- to Rs 300,000/-

69. Masonry and Carpentry Service

You will have to hire men who are trained in masonry and carpentry. You will supply these men when you get order from your clients.

You have to spend money on hiring mason workers and carpenters. You also need to build contacts to get more clients.

Minimum Investment: Rs 100,000/- to Rs 200,000/-

70. Welding Service

Just like masonry and carpentry service for offering welding services you need to hire men and train them.

They will be needed for construction and other kinds of wielding work. Here you also have to spend on equipments related to welding.

71. Baby Day Care

Baby day care centers are booming all over the country. It is really easy to open a baby day care.

You can start with your home and hire few women to take care of young kids. You yourself can teach them.

Minimum Investment: Rs 50,000/- to Rs 150,000/-

72. Water Supplying Service

Here you supply water in tanker to people who ordered it. The money is really great especially in summer season.

You need water tankers and also storage facility where you can store water so you can distribute if order comes.

Minimum Investment: Rs 200,000/- to Rs 500,000/- Tanker’s cost not included.

73. Milk Supply Service

You supply milk in a van from a dairy farm to inner and outer city.

You will need to invest in vans, containers and off course deal with dairy or farm where you will get orders to deliver the milk daily.

Minimum Investment: Rs 200,000/- to Rs 400,000/-

74. Cab Services – OLA, Uber etc

IF you have cars then you can become a franchisee of OLA or Uber and start a cab service.

The money is really great and you don’t need much in an investment except a car and driving license.

Minimum Investment: Rs 200,000/- to Rs 400,000/-

75. Auto Repair – Interior & Exterior

Auto Repair Business Auto repair is where you give full service from repairing different parts to cleaning the car.

You must have all the necessary equipments and mechanic to do the job.

Minimum Investment: Rs 300,000/- to Rs 500,000/-

76. Air Condition and Other Home Appliance Repair

You need necessary technicians who know how to work with electronic goods. For AC repair and servicing you need to hire engineers.

For getting clients you have to advertise about your business to office complexes and homes.

77. Antique Store

It is a small niche and not for everyone. If you happen to collect antique then you can turn that hobby into a profession.

Minimum Investment: Rs 200,000/- to Rs 300,000 depending upon how big the store is.

78. Funeral Services

You provide cars for funeral, casket and a priest who offer the last rites. You also need an office and advertise your business to get started.

Minimum Investment: Rs 200,000/- to Rs 400,000 /-

79. Cyber Café

You do not need much to start a cyber café and it is profitable too.

You need few computers, internet connection, batteries to backup and furniture to start this business.

Minimum Investment: Rs 300,000/- to Rs 400,000/-

80. Tropical Fish Aquarium Store

You need to invest in aquariums and acquiring exotic fishes from all around the world. You must know right people in the industry who are going to supply you with exotic fish daily.

Minimum Investment: Rs 100,000/- to Rs 300,000/-

81. Welding and Woodworking Business

If you can acquire right kind of labor and equipments then you can start welding and woodwork business.

Minimum Investment: Rs 200,000/- to Rs 400,000/-

82. Software Training and Placement Service

You start teaching basic software like C, C++, Java etc to students and also offer them placement.

You need teaching staff and contacts with companies who require new recruits to employ.

Minimum Investment: Rs 100,000/- to Rs 200,000/-

83. Advertising and Branding Agencies

If you have an experience in advertising and branding then you can think of starting your own agency.

You will need a team and more importantly staying in touch with right people in the industry so you get clients.

84. Traditional Medicine – Homeopathic and Ayurvedic Store

This niche is very popular and you don’t need much to get started.

You need license and have complete knowledge of homeopathic or ayurvedic medicine. You also have to acquire medicine and drugs from manufacturers.

Minimum Investment: Rs 100,000/- to Rs 200,000/-

85. Accountant and Tax Consultancy

If your line is accountancy then you can start giving consultancy for auditing, tax issues etc. You just need to start your office and spread a word about it.

86. Gym and Fitness Center, Weight Loss Center

gym You can open a fitness center like gym in your society and make money by giving memberships to new members.

You will have to invest in equipments and keeping few trainers.

Minimum Investment: Rs 300,000/- to Rs 500,000/-

87. Event Management – Wedding and Parties

Event management is also a lucrative business if you know the right people in the industry then you can easily get started. You need a regular office to run this business.

Business Ideas from Rs.5,00,000 to Rs.10,00,000/-

88. Processing and Packaging Company

This is bit sophisticated business as you will need substantial amount of money for acquiring the machinery, raw materials and workers. Except an investment of over Rs 500,000/- to Rs 10,000,000/-

89. Water Purification Plant

You will need utilities like air conditioning, air compressor, licensing, consulting, construction, bottling and packaging charges. Moreover you need manpower and location to establish the plant.

90. A Pawn Shop

Pawn Shop It is a risky business because you are going to lend money on personal property as security or collateral.

You need to have contacts for getting clients and also good relation in the community for solving disputes.

91. Car Accessories Store

You will be selling various car accessories like various interiors and exteriors. However you wouldn’t be repairing or servicing the car.

The most part of investment would go into acquiring various accessories from a right distributor.

Minimum Investment: Rs 5,00,000/- to Rs 10,00,000/-

92. Nursing School

This is not for everyone because you will need manpower as well as license to start a nursing school.

First you must get a license from Indian Nursing Council to open a school. You also need right kind of training staff to teach and train young students.

Minimum Investment: Rs 500,000/- to Rs 100,0000/-

93. Modeling Agency

The most important investment that you will ever make is establishing contacts with right people in the industry.

You will not recruit but also train and groom them to become a perfect model.

94. Photo Studio and Art Studio

The main investment that you need is buying equipments for developing and printing photos. You also must have knowledge about photography and a shop at right location.

Minimum Investment: Rs 500,000/- to Rs 1000,000/-

95. Fumigation Services

Fumigation Services You will need right licensing, training of men and equipment like sprayers, coverwalls, masks, safety uniforms etc.

You also need to advertise your business.

Minimum Investment: Rs 500,000/- to Rs 700,000/-

96. Crematory Services

This could also become a profitable business. You will need a license for opening a crematory. You will need electric heater or chamber where body is burnt.

Minimum Investment: Rs 500,000/- to Rs 1000,000/-

97. Spy and Security Services

If you have expertise then you make huge money with this business. If you have back ground in defense and combat then you can start giving this service.

The main challenge would be hiring men for security and spying needs.

Minimum Investment: Rs 500,000/- to Rs 1000,000/-

98. Car Pooling Service

Car Pooling service is very profitable when you live in a city or small town. You need to invest in cars and drivers to start this business.

Including advertising you will need an investment of at least Rs 500,000/- to Rs 1000,000/-

99. Trucking Services and Towing Service

With rising accidents in cities and traffic violations towing services are in great demand.

The business is profitable and you need few towing vehicles as your main investment.

Minimum Investment: Rs 500,000/- to Rs 1000,000/-

100. Leasing Cars Service

If you own few cars then you can lease them to others and charge them a rent on daily basis.

If you don’t have a car then you can buy second hand and rent them.

Minimum Investment: Rs 300,000/- to Rs 600,000/-

101. Used Car and Bike Dealership

Instead of becoming a dealer for new cars you can become a dealer for used cars and motorbikes.

You will basically act as middleman between the sellers and new second hand buyers.

Minimum Investment: Rs 500,000/- to Rs 700,000/-

102. Packers & Movers or Courier Services

On the lines of Ups, DHL, Gati, etc you can start moving goods from point A to point B. Packers and Movers

Moving logistics is very profitable and you need a fleet of vehicles to transport goods from one point to another.

You can also start as franchisee of a bigger company.

Minimum Investment: Rs 500,000/- to Rs 1000,000/-

103. Cold Storage Facilities

Here you store and sell meat, sea food, vegetables, fruit and other perishable edibles. You have to procure the food materials from your supplier.

Minimum Investment: Rs 500,000/- to Rs 600,000/-

104. Pathology Lab

You have to invest in lab equipments and hire technicians to get started. You also need to get all the necessary license and certification before you open the pathology lab.

Minimum Investment: Rs 500,000/- to Rs 1000,000/-

105. Glass & Electrical Lights Store

Here you sell glass items and electrical lights like chandeliers and accessories for show etc. The items are expensive and for upper end customers.

Minimum Investment: Rs 500,000/- to Rs 10,00,000/-

106. HR Recruiter

HR recruiter is a great business idea. You have to invest in advertising and a tie up with various companies you will be sending candidates to.

Minimum Investment: 200,000/- to 250,000/-

107. A Call Center

After getting some experience you can open up your own domestic call center. You need to hire few callers and get a client to get started. You also need an office space.

Minimum Investment: Rs 500,000/- to Rs 600,000/-

108. LKG and UKG Schools

Here you will need manpower and also physical infrastructure like classroom and furniture. But the profits are really great if you get started.

Minimum Investment: Rs 500,000/- to Rs 1000,000/-

109. A Hardware Store

Hardware Store Here you will sell everything related to home like pipes and fittings, steel rod, girders, cement, paint etc.

You have to secure all the supplies from the distributors.

Minimum Investment: Rs 500,000/- to Rs 700,000

Business Ideas Above Rs. 10,00,000/-

110. Beer and Wine Making

Opening a brewery is quite expensive compared to above mentioned business ideas. The most expensive investment would be buying equipment and it can cost your Rs 50 lacs to Rs 1 Crore.

Moreover you also need raw materials like hops, grapes, storage facility, bottling and packaging.

111. Spa and Manicure/Pedicure, Hair Removal, Skin Treatment

Spa or Skin treatment clinic would require very high capital for hiring masseuse, beauticians, electronic gadgets and designing interiors. You also have to open your spa in a prime location with lots of customers to attract.

Minimum Investment: Rs 1 Million to Rs 1.5 Million

112. Liquor & Beer Store

Opening a liquor or a beer store is a serious business but returns are very high. The most difficult thing would be getting a license.

You also have to procure all kinds of liquor from different distributors. Getting a beer licence is much easier than getting a liquor licence.

Minimum Investment: Rs 1000,000/- to Rs 1500,000/-

113. Start a Vocational School

Here you give vocational training like plumbing, masonry, electric fitting, sewing, embroidery etc.

You can open a school, get recognized by the state government and start offering certification once students complete their course.

Minimum Investment: Rs 1000,000/- to Rs 1500,000/-

114. Cricket Coaching Academy

Cricket coaching academy would work only in posh area of an urban city.

You have to have grounds available, you also need to organize tournaments, need coach and equipments to train kids.

Minimum Investment: Rs 1000,000/- to Rs 2000,000/-

115. Old Age Home

It is quite similar to baby day care but here you have to take care of old people. You will be in great need of volunteers who can look after old people.

That will be your main investment other than having a big place to accommodate the old people..

116. Trailer Services

Trailer Services Not in India but in USA trailer services are very popular. Trailers are nothing with movable homes that can be transported from one place to another.

If you have trailers then you can start a business.

Minimum Investment: Rs 5000,000/- to Rs 10000,000/-

117. Crane and Heavy Lifting Services

A growing business in cities because of constructions and road accidents.

The main investment that you will make would be buying heavy machineries like cranes and heavy lifters.

Minimum Investment: Rs 50 Lacs to Rs 2 Crore

118. Transportation Service – City and Interstate

Running a transportation service is big business because you have to maintain a fleet of buses.

The profit is great but you need buses and drivers who are going to transport people within the city and intra city also.

Minimum Investment: Rs 50 Lacs/- to Rs 1 Crore

119. Car Parking Service

Car parking is a growing business because lack of parking space in urban areas of a city.

In order to start a parking service first you need to have an area of land near a shopping mall or a work place.

You also need to talk to owner of the mall in order to build a partnership.

120. Gas Station or Petrol Pump

This is not for everyone because you will require serious capital to start a petrol pump.

The most difficult part would be getting license. Moreover the cost of setting a petrol pump is also going to be high.

Minimum Investment: Rs 2 Crore- to Rs 3 Crore

121. Party Hall, Marriage Hall etc

If you have a large area then you can turn it into a marriage hall. You rent the space for a day and charge a certain amount.

You also have to spend money on advertising and get special permission from the magistrate for playing music after 11 pm.

122. Charter Flight Service

Charter Flight Service Let me tell you honestly this is very small niche and it is not for everyone because cost of starting this business is very high.

You need to have private planes as well as clients who can afford charter flights and helicopter rides.

123. Modular Kitchen, Sofa and Furniture Stores

This is very popular niche and you have to invest in acquiring supplies for kitchen and home requirements.

Here you have to have contacts with distributors to get the supplies.

Minimum Investment: Rs 1500,000/- to Rs 2000,000

124. Art and Painting Collection and Auction Business

You collect art, paintings and sell them in an auction.

You need to stay in contacts with art galleries in the city, artist community and also art admirers and buyers.

125. Motel, Inn, Lodge Services

Travelling industry is growing and you have to offer travelers cheaper accommodation and an alternative to expensive five star hotels.

You need to find right location and construct the building.

Minimum Investment: Rs 1000,000/- to Rs 3000,000

126. Video Conference and Board Room Services

This is extension of last point here you give them on rent on hourly basis. You have to find right location where you can find more clients.

127. Newspaper and Magazine Publishing

You start publishing a newspaper in your city or town. However you have to muster resources like good writer, editors, printing machine and distributors.

Similarly you can also publish magazine.

Minimum Investment: Rs 1000,000/- to Rs 2000,000/-

128. Nightclub and a Pub Nightclub business

Lucrative business if you live in a city. However, starting a nightclub or a pub could be challenging because you need to have manpower, licensing, liquor, a right area etc.

129. Farming

Now here we will be talking about business related to farming. If you have land then you can start farming and sell the produce.

You will need a tractor, fertilizers, seeds and water supply. You can directly sell to the APMC’s near to you.

130. Animal Husbandry, Poultry and Fisheries

If you have animals then you can start a dairy farm, sell meat and even domesticate fish. However you have to invest in life stock and other infrastructure.

Minimum Investment: Rs 1000,000/- to Rs 2000,000/-

131. Building and Construction

This business is really growing in second tier cities where you take a plot and build a home 4 to 6 storey’s high and sell it. You become a small builder.

If you belong to a 2 tier or 3 tier cities then you can buy 2000 sq. ft. or bigger plot & construct 3 to 4 storied building with 1 or 2 flats on each floor and get huge profits.

Many of the people started this business without any experience & making good income. Initially, you need to give time to understand the whole process but after 1-2 projects, you will become expert.

So these were 130 business ideas. There are many other small businesses that I have not mentioned in this list but they are also great like starting your own music band, tattoo shop, producing TV serials, solar farm etc.

You can choose anyone of them and get started. Choose a business that you have some experience in.

The PM as my personal chair warmer!

Went in to do Jeremy Vine’s Radio 2 show as normal. The big difference, Tony Blair was doing the hour before me. Sadly, they ran long with the PM and he took 30 minutes of my MoneySaving time (anyone’d think there was an election on or something!).
So I crossed Mr. Blair in the corridor and nodded hello. I was pleased to see he wears more fake tan than me (well… when you’re on the telly, don’t ask me about being told i needed to ‘dye my eyelashes!)
When I sat down the chair was warm, obviously provided by the PM’s bottom heat – some people would pay for that (though I’m not one of them, so shifted uncomfortably).
Onto the programme, which was titled ‘What’s the cheapest?’ As I scribbled down my notes it occurred to me I hadn’t brought paper in with me and my scribbled on top of TB’s page.
So I looked at his notes. Like me he writes down details of the caller and their name so you don’t forget during a phone in. His said
3 year old,
11 year old
school failing
curriculum issues.
Having listened before this was obviously from a discussion of a parent who’d called in. She’d complained bitterly about the fact her child had been rejected from three schools. Blair’d been on the back rope and the points scored were heavy.
Sadly there was nothing salacious in his notes. No scandal! I did for a moment entertain a huge temptation to mimic his handwriting and write in the word ‘bitch’ afterwards, then flog the paper to the Sun.
I’m not that brave though, so good manners meant in the end I took the paper home clean with both my and his notes on it, having got Jeremy and the producer to verify it and it now hangs on the wall in the office. A nice memento!

The PM as my personal chair warmer!

They’re Britain’s favourite savings product. The 21 million people with just over £70 billion saved in Premium Bonds will be delighted to hear that in under a fortnight’s time, the prize fund will increase from 1.15% to 1.4% – so your chance of winning per £1 bond will improve from 1 in 30,000 to 1 in 24,000.

And that rate is higher than the top easy-access savings account at 1.32%. So, should you simply pile in – after all, what could be safer than tax-free Premium Bonds? Well, here are four things you need to know before making that decision…

  1. Smaller savers typically do worse with Premium Bonds. NS&I Premium Bonds are a savings account with your interest dictated by a monthly prize draw. The prize fund rate is just a vague watermark showing that the total payout is 1.4% of all the cash in them.

    Yet it doesn’t mean put £100 in bonds and you’re likely to win £1.40. That’s impossible, as the smallest prize is £25. As our Premium Bond Probability Calculator shows, 19 of every 20 people with £100 in will win nothing – for the other person to get £25.

    Even if you line up everyone with £1,000 in Premium Bonds in order of their year’s winnings, the halfway person would have won… nowt, nada, not a penny! You’d be about two-thirds of the way along before you hit the first winner.

    This ‘halfway along’ measure (the median average if you remember school maths) is a far better indication of what someone with typical luck would win than the prize rate.

    Let me prove that with an extreme example… Imagine I sold a million people a £1 lottery ticket, and then paid just one winner £1,000,000. As the ‘average’ payout is £1, I could argue everyone gets their money back. This, of course, is gibberish. Instead, line them up in order of winnings and the halfway person would’ve won nothing – a far better representation.

    Premium Bonds are similar – for everyone who wins £1 million, many must win nothing. So the prize fund rate inflates people’s realistic winnings.

    But the closer you are to saving the £50,000 maximum, the more things smooth out. So with typical luck, while you’ll still win less than 1.4%, it’s not that much less.

  2. Ignore the urban myths such as ‘newer bonds have a better chance’. There are many myths about how to improve your odds of winning on the Premium Bonds – all are nonsense. Each £1 bond has exactly the same chance of winning as every other. Though many of the myths derive from an obvious route.

    The most common I hear is, “You’ve a better chance of winning with newer bonds”. I suspect the reason for this is that over the years the ‘minimum investment’ amount has increased, so people who bought bonds more recently tend to have more of them, so they win more often. Yet 100 bonds bought now have exactly the same chance as 100 bonds bought in 1957, soon after Premium Bonds were launched.

    Equally someone tweeted me the other day that “people in the South of England are favoured” and that this was proved when you look at the fact people from the South East win more often. That’s almost certainly because the South East is a large affluent area and people who live there own more bonds. The only thing you can do to increase your probability of winning is own more bonds.

  3. Premium Bonds may be tax-free, but this only helps those with big bucks. The savings rules changed a couple of years ago. You now DON’T pay tax on normal savings interest as a basic 20% rate taxpayer unless you earn over £1,000 interest a year (well over £60,000 saved at current rates). Higher 40% rate taxpayers only pay tax on interest over £500.

    In practice only the top 1% of people pay tax on savings. For everyone else the Premium Bonds tax advantage has gone.

  4. Premium Bonds aren’t ‘the one safe haven’ anymore. With Premium Bonds only the interest is a gamble. As it’s operated by NS&I – which is Treasury-owned – your capital is as safe as it gets. This safety used to be a valuable boon, but these days all UK-regulated savings accounts have the UK savings safety guarantee of up to £85,000 per person anyway, so the advantage isn’t such a biggie.

Of course what people love about Premium Bonds is the excitement of opening “you’ve won” letters or emails. Indeed many with larger amounts rejoice with joyous declarations such as “I win £25 every few months – it’s fantastic!”

That’s a dangerous psychology – with a decent amount in them, you’re likely to win monthly. Do the maths and work out what you actually win annually. Then compare this to top savings where the ‘winnings’ are guaranteed.

Premium Bonds are only a virtual dead-cert must-do for the few with big savings who pay tax on them. Smaller savers would need to be extremely lucky to beat the 1.32% you can get in the top easy-access savings account, and even then fewer than half of those with the full £50,000 saved would be likely to match or beat it.

And as many leave money sitting in Premium Bonds for years, if you’re willing to lock money away, the top one-year fix pays 1.95% guaranteed. Even with £50,000 saved, fewer than 10% of people (who don’t pay tax on savings) will match or beat this with Premium Bonds.

So even though the rate boost means Premium Bonds are a much stronger proposition today than before, for many, especially smaller savers, they’re mathematically a bad bet. Though if normal savings only give you a marginal gain over Premium Bonds, and you value the thrill and that infinitesimally small chance of winning a million, it’s not too bad to stick with them.

For a more detailed breakdown of how they work, see Premium Bonds – are they worth it?

How much and how often have you won?

I’d be really interested to see how Premium Bonds have worked for you. If possible do list how much you have in them and what you’ve won over the last year. Or perhaps you’ve held them for years and never won a thing. Do let me know in the discussion box below.

Premium Bond rate boosted from 1.15% to 1.4% – should you pile in?

They’re Britain’s favourite savings product. The 21 million people with just over £70 billion saved in Premium Bonds will be delighted to hear that in under a fortnight’s time, the prize fund will increase from 1.15% to 1.4% – so your chance of winning per £1 bond will improve from 1 in 30,000 to 1 in 24,000.

And that rate is higher than the top easy-access savings account at 1.32%. So, should you simply pile in – after all, what could be safer than tax-free Premium Bonds? Well, here are four things you need to know before making that decision…

  1. Smaller savers typically do worse with Premium Bonds. NS&I Premium Bonds are a savings account with your interest dictated by a monthly prize draw. The prize fund rate is just a vague watermark showing that the total payout is 1.4% of all the cash in them.

    Yet it doesn’t mean put £100 in bonds and you’re likely to win £1.40. That’s impossible, as the smallest prize is £25. As our Premium Bond Probability Calculator shows, 19 of every 20 people with £100 in will win nothing – for the other person to get £25.

    Even if you line up everyone with £1,000 in Premium Bonds in order of their year’s winnings, the halfway person would have won… nowt, nada, not a penny! You’d be about two-thirds of the way along before you hit the first winner.

    This ‘halfway along’ measure (the median average if you remember school maths) is a far better indication of what someone with typical luck would win than the prize rate.

    Let me prove that with an extreme example… Imagine I sold a million people a £1 lottery ticket, and then paid just one winner £1,000,000. As the ‘average’ payout is £1, I could argue everyone gets their money back. This, of course, is gibberish. Instead, line them up in order of winnings and the halfway person would’ve won nothing – a far better representation.

    Premium Bonds are similar – for everyone who wins £1 million, many must win nothing. So the prize fund rate inflates people’s realistic winnings.

    But the closer you are to saving the £50,000 maximum, the more things smooth out. So with typical luck, while you’ll still win less than 1.4%, it’s not that much less.

  2. Ignore the urban myths such as ‘newer bonds have a better chance’. There are many myths about how to improve your odds of winning on the Premium Bonds – all are nonsense. Each £1 bond has exactly the same chance of winning as every other. Though many of the myths derive from an obvious route.

    The most common I hear is, “You’ve a better chance of winning with newer bonds”. I suspect the reason for this is that over the years the ‘minimum investment’ amount has increased, so people who bought bonds more recently tend to have more of them, so they win more often. Yet 100 bonds bought now have exactly the same chance as 100 bonds bought in 1957, soon after Premium Bonds were launched.

    Equally someone tweeted me the other day that “people in the South of England are favoured” and that this was proved when you look at the fact people from the South East win more often. That’s almost certainly because the South East is a large affluent area and people who live there own more bonds. The only thing you can do to increase your probability of winning is own more bonds.

  3. Premium Bonds may be tax-free, but this only helps those with big bucks. The savings rules changed a couple of years ago. You now DON’T pay tax on normal savings interest as a basic 20% rate taxpayer unless you earn over £1,000 interest a year (well over £60,000 saved at current rates). Higher 40% rate taxpayers only pay tax on interest over £500.

    In practice only the top 1% of people pay tax on savings. For everyone else the Premium Bonds tax advantage has gone.

  4. Premium Bonds aren’t ‘the one safe haven’ anymore. With Premium Bonds only the interest is a gamble. As it’s operated by NS&I – which is Treasury-owned – your capital is as safe as it gets. This safety used to be a valuable boon, but these days all UK-regulated savings accounts have the UK savings safety guarantee of up to £85,000 per person anyway, so the advantage isn’t such a biggie.

Of course what people love about Premium Bonds is the excitement of opening “you’ve won” letters or emails. Indeed many with larger amounts rejoice with joyous declarations such as “I win £25 every few months – it’s fantastic!”

That’s a dangerous psychology – with a decent amount in them, you’re likely to win monthly. Do the maths and work out what you actually win annually. Then compare this to top savings where the ‘winnings’ are guaranteed.

Premium Bonds are only a virtual dead-cert must-do for the few with big savings who pay tax on them. Smaller savers would need to be extremely lucky to beat the 1.32% you can get in the top easy-access savings account, and even then fewer than half of those with the full £50,000 saved would be likely to match or beat it.

And as many leave money sitting in Premium Bonds for years, if you’re willing to lock money away, the top one-year fix pays 1.95% guaranteed. Even with £50,000 saved, fewer than 10% of people (who don’t pay tax on savings) will match or beat this with Premium Bonds.

So even though the rate boost means Premium Bonds are a much stronger proposition today than before, for many, especially smaller savers, they’re mathematically a bad bet. Though if normal savings only give you a marginal gain over Premium Bonds, and you value the thrill and that infinitesimally small chance of winning a million, it’s not too bad to stick with them.

For a more detailed breakdown of how they work, see Premium Bonds – are they worth it?

How much and how often have you won?

I’d be really interested to see how Premium Bonds have worked for you. If possible do list how much you have in them and what you’ve won over the last year. Or perhaps you’ve held them for years and never won a thing. Do let me know in the discussion box below.

Is cash dead? 4 reasons you shouldn’t use it…

Cash is dead! Long live plastic (and I’m not talking about new fivers and tenners). I always try to pay on a card – as it’s like wearing a piece of invisible financial armour – and I want to urge you to consider the same.

While cash feels real, and convenient, it’s risky.

A woman once sent me an email desperate for help for her very nearly 90-year-old dad. He’d paid a restaurant a decent-sized cash deposit to book to celebrate his birthday with the family. The restaurant went bust beforehand. She wanted to know how to get his money back. Sadly I’d no answer. Had he paid by plastic, it would have been different.

The number one choice is to use a credit card – as the protection’s stronger, and as you’ll see, some pay you to spend on them. Yet it requires self-discipline not to get into debt; if that worries you, then debit cards still beat cash.

Yet let’s not get silly here. This isn’t a militant call to ditch your paper and coins. For those who need to budget tightly whether due to rigid constraints, or to aid impulse control, cash can be a good way to limit spending – and if that works for you, stick with it. Others want the convenience of handing over a few coins when popping out to buy a paper – that’s fine too.

My real agenda here is that if you’re making any sizeable or important planned purchases, it’s far safer to do so on cards. Here are the four need-to-knows…

  1. Credit cards have powerful ‘Section 75’ protection. Pay on a credit card for an item costing £100 to £30,000 and it’s covered by ‘Section 75’ laws, which mean the card company is JOINTLY liable with the retailer. Of course you need to pay the card off IN FULL each month or you’ll pay interest.

    The obvious benefit is if you order something and the retailer goes bust, as recently happened with Monarch, you can get your money back from the card firm. But it’s far bigger than that.

    The joint liability means anything you can complain to a retailer about, you can choose instead to go to the card firm about.

    For example, if you bought clothes from Rio de Janeiro samba shop, and on your return home discover a fault, you can ask the card company to sort it rather than ‘going back’ to the shop. Plus, staggeringly, the card provider’s liable for the ENTIRE amount, even if you just pay 1p on the card.

    In 2014 Linda Marriott paid a £200 deposit for a new kitchen on her credit card, and transferred the remaining £22,200 from a bank account. The kitchen firm went bust, so Linda and her husband Neal asked the card firm for all the cash. It said no. So they used our Section 75 guide templates to go to the Financial Ombudsman which made the card firm pay the full £22,400.

    This is important too. Normally with consumer issues you can only go to court, which judges purely on the law. Yet as a credit card is involved you can go instead to the free Financial Ombudsman Service, which looks not only at the law but also ‘standard industry practice’ and considers ‘have you been treated fairly?’ This can be very successful, and worked well to help some get PIP breast implant refunds.

    The only time Section 75 doesn’t work is if you pay via a third party, eg, a travel agent – that breaks the direct payment link needed for the law.

  2. Debit (and credit) cards have chargeback protection. Debit card chargeback means if you don’t receive what you paid for, and the retailer won’t give your money back, you can ask your card provider to request the money back from the supplier’s payment processor.

    It’s not law but part of the rules imposed on card firms by Visa and American Express, and Mastercard (£10 min reclaim). While it works on credit cards too, you should use Section 75 instead if you can, as that’s stronger.

    You must do a chargeback within 120 days of becoming aware of a problem, up to a maximum 540 days after a purchase (see full debit card chargeback help).

    It worked well after Lowcostholidays collapsed, as Victoria emailed: “Just received £1,400 from my Lowcostholidays booking after sending off MSE’s chargeback template letter. TSB paid in just five days. Thanks.”

  3. Some credit cards pay you to spend on them. A few credit cards pay cashback or rewards. It’s done in the hope that you’ll pay back a huge whack of interest. But set up a direct debit to repay the card IN FULL every month, and never withdraw cash on it, and there’s no interest, so now your spending really pays.

    The top payer is the fee-free American Express Platinum, which pays 5% cashback (max £100) for three months, then up to 1%. Though there are many choices – see our Top Cashback Cards guide for full best buys.

    This can be very lucrative, as Helen tweeted me: “@martinslewis I ‘earned’ £300 on my @AmexUK cashback credit card last year. Not hard swiping a bit of plastic to buy stuff!”

  4. Extra proof for faulty goods. If goods are faulty, many stores want a receipt. Yet by law you just need proof of purchase. So pay on plastic and you can show a credit card or bank statement. Buy in cash and lose the receipt, you’re stuffed.

There are of course shops, stores and service providers that charge extra if you pay by plastic. The rules say this should be in proportion to the operational cost, but that’s disgracefully never been enforced and many flout it. If there is a charge for plastic you need to balance the extra protection against that cost. On many low-risk transactions it won’t be worth it, pay in cash; but for a few, effectively that extra price is in practice an insurance cost.

Overall though for most main purchases plastic wins. A few may also talk about ‘discounts for paying in cash’ though some (not all) of that of course is about dodging tax, which is illegal. Yet I think as technology marches on and we get more electronic ways to pay via cards (eg, using a phone), cash is becoming less important.

Where are you on this? Let me know below…

Beauty Parlour Job

oday everyone goes to the Beauty Parlour and everyone wants to look good. This is also a good job to start from a home.

Before starting a beauty parlour from home you have do a Beautician course which is of 2-3 months and later experience of working as a beautician required.

Also, some investment is required but here also you can earn quite a handsome money. Here also mouth publicity is required you can just inform your neighbours and friends.

Provide training & consultancy from home

f you are expert in anything or have some skills that people want to learn then you can start providing training or consultancy about that from your home

You can provide training for dance, English, guitar, chess, computer or provide consultancy for vastu, buying stocks or home or anything that you know