this article on budgeting appeared in www.moneycontrol.com long back. INCOME: Rs 100, expenses Rs 99, life is fine. Income: Rs 99, expenses Rs 100, life is in despair. (Due apologies to Charles Dickens!) There used to be a time when it was advisable to have regular health checkups when you 45. Now, it’s closer to […]
Some questions plaguing parents about money have been the following: 1. Should I delay my saving/ investing for retirement BECAUSE I am saving for my children’s education ? 2. Should I dip into my Retirement kitty to pay for my children’s education ? Sadly in the Indian context education is just a broad word I […]
I am an anarchist and do not believe that Rules and Regulations are very important. In fact I do think that lawyers, accountants and even doctors exaggerate their educational processes. Having said that when I meet financial planners who do not understand: Indian Income tax – especially clubbing, scope of what is Income, the difference […]
From the age of 50 or thereabouts you need to be planning for retirement. Typically you may be planning to retire at 52-65 depending on many factors of your life..here are a few things you need to take care of: a. Communicate with your spouse: If you think you will retire at 55 and your […]
Sadly there is not enough research on the financial behavior of Indians. On the other hand there is a lot of research in the US about American earning, spending and investing pattern. It is NOT possible to just do a cut n paste of the American behavior patterns, and THEREFORE one cannot just accept the […]
It is easy for me to say ‘you should not take personal loans, because I have not taken’. It is so foolish too say do not borrow. Most people are borrowing out of compulsion, not love for the bank!! Nobody borrows if they can live without that expense. However people do borrow, and when I […]
There is only ONE reason why people get into debt. Living beyond their means. Make no mistake there is just one reason. However when people get into debt, and when they come to me, they justify on various grounds…I have very little sympathy -Satyam is never Sundaram, but always SHIVAM!! What are the main reasons […]