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A chit fund (chitty) is a savings and borrowing scheme where a group pools money every month and one member receives the pot each month. Here’s how it works, in plain language.
Prize money, discount, dividend, commission — chit fund words can sound confusing. This step-by-step example with simple numbers shows exactly where the money goes each month.
Learn how effective financial planning can help individuals, entrepreneurs and businesses manage money, prepare for expenses, plan funding and work toward long-term financial goals.
Chit funds are safe when they’re properly registered and well run. Use this checklist before you sign up, so your savings stay protected.
Big expenses rarely come with warning. Here’s how to match a chit’s size and duration to your goal, so the money is ready when you need it.
Three popular ways to save, three different strengths. Compare chit funds, fixed deposits and recurring deposits and see which suits your goals.
Not sure where your salary goes each month? The 50/30/20 rule splits your income into needs, wants and savings, and it takes five minutes to set up.
An emergency fund keeps a medical bill or a job gap from turning into debt. Here’s how much to save and how to get there without feeling the pinch.