You canâ€™t positively think your way to wealth. You have to positively DO your way to wealth. Source: amzn.to/arnUJN And I was, for a long time, thinking.
Would you opt for a higher compensation in lieu of a shorter commute, flexible working hours, the ability to work from home when needed, and wearing what you want to work? I certainly wouldn’t and I’ve been fortunate enough to have the financial flexibility to choose the latter. Having a solid emergency fund in place […]
A friend asked, I’m in the midst of changing jobs and have opted to withdraw the savings in my Employee Provident Fund. It’s a decent sum — around Rs 300,000 — and I wish to keep this money safe. Is there a way I can achieve this and yet earn a steady income? My immediate […]
Can inflation be a reason when justifying a request for a salary hike at work? I’d say YES. What do you say? Thanks S, for the discussion leading to this post.
At Central, I kept the [same day only] redeemable vehicle parking coupon in my pocket and conveniently forgot to produce it during billing. A couple of days later, at Reliance Timeout, I made it a point to keep the coupon along with the cash in my wallet and since I pay for most things with […]
The only long-term disability insurance product that I have seen on offer by Indian insurance companies is Tata AIG’s Secured Future Plan. The insurance payout scenario is excellent: at the highest level you get Rs 35,000 per month guaranteed for 20 years. However, no one at Tata AIG wants to sell you this policy! I’ve […]
You don’t manage money. What you do is manage your choices. Source: amzn.to/b2RXrw What do you think?
At Pizza Hut, we were about to leave a service tip when D observed that the bill already had levied a 10% service charge. How a service establishment can fix a fixed service charge is beyond my understanding. Do service charges scale linearly with the size of the group being served? Would you leave a […]
[sniplet organizing your finances] With D entering my life, I now see the need for creating our “Personal Finances Folder.” In this folder, I want to capture every aspect of our personal finances. Should anything happen, this should be our “Go To” folder. This far, we have kept our finances separate and therefore, to begin […]
Why can’t financial instruments that offer Guaranteed Investment Returns guarantee at least the current risk-free rate of return (which in my opinion is the rate of return offered by the Public Provident Fund scheme)? What do you think?
Continuing yesterday’s thoughts, you have only two options when dealing with financial clutter. Keep it, or Close it. What you decide really depends on your personal situation. But make that decision right now — else you’ll never get rid of that clutter. [sniplet tip tuesdays]
[sniplet organizing your finances] Over the past year, we’ve managed to get rid of a significant amount of physical clutter that was lying all around our home. You name it and I’d bet that I had it — somewhere. Minimalism has made our home simpler to manage. Driving to work, I felt that the same […]
How would you name a mutual fund that: Will invest in companies that are not in the Top 100 stocks by market capitalization. Will not invest in companies that have a market capitalization of less than Rs 100 crore. Emerging Bluechip Fund??? I’m quite sure many will be misled into investing simply by the usage […]
Approximately 70 to 30 — when most literature suggests the exact opposite. But that’s what my financial goals demand and financial goals are how you ought to arrive at your own debt to equity investment ratio.
A reader asks, I’m being offered an upfront joining bonus by my new employer. How should I go about investing this money? There is one condition though. I will be required to give back this money if I leave the job within 6 months. Given the payback condition, I’d recommend that the joining bonus be […]
D asked, I know there are clear-cut rules on your liability and what you should do upon losing your credit card. But what are the rules with respect to debit cards? What’s your liability and what should you do? I’m asking because my debit card doesn’t have my photo on it. Nor does the merchant […]
On my way to work, I was running my finances through my head and had this thought. Total up all your expenses (household expenses, personal expenses, EMIs, monthly savings for annual expenses, and anything else that you treat as an expense) in the past month. Divide this figure by the number of days in that […]
Here’s a tip that I read about some time back, implemented it in my own life, and found it to work. When you withdraw cash from an ATM, don’t throw the transaction receipt. Instead, keep it in your wallet and each time you spend the cash that you withdrew, note down the expense on the […]
It’s time to file your income tax returns — by July 31, 2010. You might find these links useful. Why you should file your Income Tax Returns every year? File your Income Tax Returns on your own this year. How to find the ward and circle number for filing your Income Tax Returns? Do you […]
Recently, on a personal finance show aired on FM 106.4, a caller asked: When I look at my loan amortization sheet, I find that during the initial tenure of the loan most of the EMI goes towards paying interest rather than against the principal. Why is this so? Because that’s the whole point of lending! […]