Save Your Hard Earned Money! (Cash In-5)

Save Your Hard Earned Money! You might have been advised by many on how to save and invest money or you might have read books or articles about it. All bits of advice and knowledge will not work until you start working on it. Some of the tips may sound so simple that you ignore it. Ashish Parmar, Operation Head of an IT company once told me, “As my income goes up, my expenses also ascend. I have been working for the last 15 years. Today my salary is Rs.…

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Understand Your Expenses (Cash In-4)

Understand your expenses   As debt goes up, it becomes more and more difficult to get back to financial stability. Before one loan is paid up, there is a new one waiting. How do one escape from it? It’s very crucial here to understand how expenses behave in order to live a life free of debt. After knowing how to add income, the next step is to analyse expenses. I shall divide personal expenses into two categories Essential Expenses Optional Expenses Essential expenses are those expenses which you cannot avoid…

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Moving Up The Ladder (Cash In-3)

Moving Up The Ladder   Ashok Rao, the accountant head of a pharma company joined his first job 12 years back. He goes to the office daily and works for 8-10 hours and gets his pay. This is how he plans to spend the rest of his life. He has no idea how to move up in life despite being in the rat race for over a decade. I’m pretty sure many of us can relate to Ashok and are already spending our lives in the rat race trying to…

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Escape The Rat Race (Cash In-2)

ESCAPE THE RAT RACE   Ever thought of living a life which is financially free and how to achieve it?   One of the keys to achieving financial freedom is to start building a source of passive income early in life. Passive income is the one which does not require your direct involvement to earn it. The question arises, why does one need passive income? The reasons differ from person to person. An effective way to know the answer is by following an easy exercise. Consider that you have won…

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Honey, It’s About Money (Cash In-1)

HONEY, IT’S ABOUT MONEY! Reema (age 22), earned her degree in marketing at the first go. All set well, she started his first job with a salary of Rs.15,000 per month. She lives in Mumbai with her parents and is the only child, with no other responsibilities on her shoulders. At the end of the month after spending on a lavish lifestyle, she found a surplus of Rs.5000 from her salary. Not knowing what to do with it she spent it on partying and shopping with her friends. Though she…

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Fixed Income Investment

Fixed Income Investment   There are basically 2 types of investments. One which gives you a fixed income, one which does not gives you a fixed income. Today we will learn about investments which give us fixed income.   For Whom? For those whose daily living depends on the corpus of money that’s available. Especially for people whose source of monthly income is from pension, or for widows or single mothers not earning. For those who are not comfortable with any risk in investments, who are conservative and can’t sleep…

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Is it death of crypto currency in India

RBI has only banned banks from associating with cryptocurrency, not cryptocurrency itself. Exchanges could provide alternatives such as buying bitcoin for dollars through Paypal. This would, however, push the cost higher as one would have to pay a charge on Paypal to transfer the dollar amount to your bank. Should you buy bitcoin or stay away? It depends whether you are speculating with your money or investing.  The fundamental principle of investment is it has underlying which becomes the base for valuation. Say, for example, you are investing in gold,…

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Who wants to be a Multimillionaire?

Who wants to be a Multimillionaire? Hurray! You just won a prize of Rs.1000.Now you have two options Receive the prize now Receive the prize after a year If such a scenario ever happens, which option will you go for? By natural instinct most of you will choose to take the money now. So at the most basic level, we demonstrate a time value for money which says that all things being equal, it is better to have money now rather then what happens to the money in the future…

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Rising Inflation

Rising Inflation   Have you ever wondered why the price of your notebooks are increasing year on year? Or why you need to pay more for friendship bands than last year? The answer to this is Inflation. Inflation is responsible for the rise of general level of the price of everything, not just consumer items. To put it to simply, the power of purchasing with the same 100-rupee note is decreasing because of inflation.   What is Inflation? Inflation is a long term rise in the prices of goods and…

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