The iPhone 4 Temptation!

Posted 2 CommentsPosted in Finance

It’s irresistibly tempting. My head spins non-stop with how-can-I afford-this thoughts. Since the iPhone 4 launched [in India], I’ve had these financially-destructive thoughts: Dip — no, make that dive — into my emergency fund. In a weird way this does count as an emergency because my present phone, a Nokia E52, has had its share […]

Tip Tuesdays: Use Your Credit Card for Emergencies Only After You Have First Created a Real Emergency Fund with Real Cash in a Savings Account

Posted 2 CommentsPosted in Finance

I have often heard the argument that the credit limit on a credit card serves the purpose of an emergency fund. This strategy by itself is both myopic and dangerous. However, what can make this strategy both farsighted and safe is if you have a real emergency fund with real cash in a savings account […]

A Real-Life Lesson: The Value of Being Debt Free, Having Independent Health Insurance, and an Emergency Fund

Posted 9 CommentsPosted in Finance

The past one-and-half months have been traumatic as my mother’s health has steadily deteriorated into a critical condition. We’ve given her the best medical care possible — probably that’s what has kept her going this far. I couldn’t have afforded this medical care if it were not for three things: Clearing my debts and keeping […]