I’d written about this before, but felt it important to bring up again. According to the Reserve Bank of India’s Guidelines on Fair Practices Code for Lenders, Banks and Financial Institutions should convey in writing the main reason(s) which, in the opinion of the Bank or Financial Institution have led to rejection of the loan […]
The more I read about and observe the economy, the stronger is my belief that you should, THINK hard about and then WORK on developing an alternate skill or two (something that’s not directly related to the type of work you’re doing right now). The skill that you value so much right now will be […]
I’m a BIG fan of Suze Orman simply because she gives practical advice on personal finance. I try and catch her show every Sunday on CNBC (here’s the TV schedule). I happened to read this recent interview with Suze Orman where she answers questions posed by a group of personal finance bloggers. Though some of […]
Click on the album for a full-size view. Shot with my Canon PowerShot SD850IS on the way back from Sunrise Valley, Wayanad, Kerala.
These should be on everyone’s personal finance agenda for 2009. Get OUT of “non-essential” (as in credit cards, personal loans, vehicle-beyond-what-I-can-really-afford loans) debt. DO whatever it takes to get out. Stay OUT of “non-essential” debt. BUILD an emergency fund. #1, #2, and #3 BEFORE anything else. DON’T save or invest in financial products and services […]
A friend and I recently ascended Chembra Peak. A few photos from our trek. A view of Chembra Peak (the one in the distance) from the banks of the heart-shaped lake, half-way up the mountain. This view is deceiving because there are three mini-peaks (can’t be seen from this viewpoint) to climb up before you […]
Since I often ask you guys to run away from a lot of financial products/services/agents/institutions, I thought I’d make a quick list of items that I have so far asked you to run away from. Unit Linked Insurance — of any kind — Policies (ULIPs). Financial products/services/agents/institutions which/who offer you “exclusive,†“privilege,†“priority,†“premium,†“premier,†[…]
The first time I saw this presentation (it was emailed to the administration head at my office), I screamed “WTF mate?” multiple times and in quick succession. Go through this presentation and give me one decent reason for why you would ever want to invest in this attractively packaged recipe for financial alchemy? [slideshare id=855587&doc=returnguaranteefund-1229571730583996-2&w=425] […]
A reader recently wrote: I have a friend who needs some guidance on a problem she’s facing with her Barclays Credit Card. Barclays is forcing her to avail a membership called Barclays Priority Circle. They call her several times a day asking her to pay around Rs 9,000 as membership fee and late payment charges. […]
I can’t STRESS on this one point enough. I happened to read this article in the NY Times and immediately felt that I ought to remind you again on why you should opt for independent health coverage even if your employer currently provides one. Have you? Tip Tuesdays is an initiative to share practical personal […]
Today’s topic is an easy to understand and informative read for the weekend. It’s a speech delivered by Dr. D. Subbarao, Governor, Reserve Bank of India at the RBI-BIS Seminar on “Mitigating Spillovers and Contagion – Lessons from the Global Financial Crisis” (click to download) at Hyderabad earlier this month. Of significance is this quote […]
Each month we’re so caught up in managing our day to day expenses that we tend to lose focus on our annual expenses. Generally speaking, any expense that you pay for once a year counts as an annual expense. Typical examples are insurance payments, property tax payments, maintenance contracts, and such. We tend to lose […]
Visit an ATM and you’ll be greeted with a huge litter of transaction slips. I haven’t yet understood why people simply discard their ATM transaction slips. It’s the only transaction record that you possess in an otherwise automated (read, faceless) transaction setup. I can immediately think of a few instances where you should safely keep […]
Most of you must have faced a situation in which you visit a bank to deposit money and the teller starts observing each note under an ultraviolet lamp. What the teller is trying to do is to detect counterfeit currency notes. Most of us are unaware about our rights when it comes to such situations. […]
I have an HDFC Bank Credit Card — one that I haven’t used since I received it over an year ago. I therefore decided to cancel it. A week back, I dropped a request-for-cancellation letter at an HDFC ATM near my house. Today morning, I called to check the status of my request. A few […]
Looks like a traffic plateau. Time to ask for suggestions. How would you promote this blog? I’d love to hear your ideas — plenty of them.
When a life insurance agent tries to coax you into buying a particular life insurance scheme and in the same pitch offers to give back to you a certain percentage of his commission, you should run away as fast as possible. Double your speed if the particular policy in question remotely resembles a Unit Linked […]
A reader asks, I want to contribute for my sister’s marriage which we’ve planned for in two years’ time. Could you suggest the best possible short-term investment plan for this purpose? My suggestion: Park your money in bank fixed deposits. They’re safe, offer decent returns, are liquid if planned for correctly, and more importantly, match […]