When choosing where to invest for saving tax, why not also think of the most efficient investment considering the balance of both risk and return. There are several tax-saving investments like public provident fund (PPF), unit-linked insurance plans (ULIPs), national pension scheme (NPS), national savings certificate (NSC), equity-linked savings scheme (ELSS), long term fixed deposits, ...

This is one of those money decisions which is almost always answered emotionally rather than logically. However, in being carried away by emotions you may end up damaging your financial future and adding on needless stress to perform professionally too.

Have you been in the midst of a financial crunch or had the desire to make a big-ticket spend, but realised your savings are not enough?