Happy Mother’s day 2024: Invest in your mom’s financial security with THESE 5 gifts

Instead of just a card or a greeting, you can set up your mother with financial security and benefits to help her in tough finanvial situations

India, Trending, Mothers-Day, Mothers-Day-Gifts, Mothers-Day-Financial-Gifts, Mothers-Day-2024, Mothers-Day-News, Mahilla-Samaan-Certificate, Monthly-Income-Savings | Happy Mother’s day 2024: Invest in your mom’s financial security with THESE 5 gifts- True Scoop

It is Mother's Day today (May 12), and if the perfect gift to celebrate the incredible woman in your life eludes you, don’t worry. Instead of just a card or a greeting, you can set up your mother with financial security and benefits to help her in tough financial situations. Here some relatively perfect gifts that you can give your mother to show your love, care and respect for her unconditional motherly love:

 

Teach her the benefits, uses, and workings of a credit card:

If your mother does not have a fixed source of income, then you can gift her a credit card to meet her financial needs. Many people are afraid of using the credit card due to the fear of it being misused. However, you can prepare them to keep the credit card with them by intelligently explaining the benefits of using it. With this, they will not have to face problems when they are in dire need of finances.

 

Monthly Income Scheme (MIS)

On Mother's Day, you can also invest in Post Office Monthly Income Scheme (MIS) in your mother's name. National Savings Monthly Income Account is now giving a 7.4% annual interest. Through this scheme, you can arrange an income of about Rs 9,250 every month for your mother.

 

Health Insurance

A good Health insurance policy is quite literally a life save in tough times. Health insurance can be given to your mother to deal with any minor or major health issues. If they already have a health insurance policy, you can top it up and get them higher coverage. Even after getting health insurance, tax benefits can be availed under Section 80D of the Income Tax Act.

 

Investing in Mahila Samman Savings Certificate in the name of your mother

 

You can invest in 'Mahila Samman Savings Certificate' (MSSC) scheme in the name of your mother. Investing in this scheme can provide financial security to your mother. This scheme also boasts a 7.5% annual interest. You can invest a minimum of Rs 1000 to a maximum of Rs 2 lakhs.

 

Get mobile recharge done for the whole year

If the schemes are too complicated, you can just do something simple like pay your mother’s mobile recharge bill for the whole year. It is an option that is within a reasonable budget and undoubtedly useful. Jio, Idea, Vodafone and Airtel have many pre-paid recharge plans that offer a 365 days validity. Many facilities like unlimited calling, data and free SMS are available in these plans. You can choose the recharge plan according to your mother's needs.

 

True Scoop advises performing your due diligence and thoroughly research on financial options before committing to an investment opportunity.


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