R.D accounts
" I was browsing the internet and there were lots of blogs which told about investment and how to achieve financial freedom, but they did not tell anything about the baby steps that we need to take in the beginning. " This was the email that my cousin sent me one day. He was also interested in becoming rich and investing his money and having good control over it. He also wanted to take some insurances but felt that he cannot pay some huge amounts ( Rs6000/- ) as a one time payment. A valid point indeed. A lot of us feel the pinch if we need to pay the medical insurance or any other insurance as a full one time payment. Taking Rs6000/- out of monthly budget is going to cripple our finances of that month. I myself felt the pinch when I renewed my medical insurance this year. Here comes something called a Recurring deposit account aka a R.D account . This is an account in which we can pay any amount ( min Rs100/- ) on a monthly basis for any number of years...