Archive for the ‘Money’

  • Your money, your fault>
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    Your money, your fault
    It was two weeks to the date when I was involved in what was a very stimulating conversation about money (and at times, the lack of it). Money is one of the last things I want to discuss with anyone since it’s a potential landmine, it’s such a touchy topic and so prickly. Some discuss it freely and with ease while others bristle upon a raw nerve being touched, but against all logic I decided to dive in head-first this time and discuss things candidly. Talk veered from how money was so invigorating in our twenties to how it is a cause for worry now, and inevitably we talked about our financial state now as opposed to those times. Personally, I’m making less (much less) than I was back then as a corporate suit that smiled and shook everyone’s hands through gritted teeth but conversely  [...]
    at August 25th, 2010 at 12:08 am
  • Learn New Skills to Improve Your Financial Resilience>
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    Learn New Skills to Improve Your Financial Resilience
    On our path to building financial resilience, it’s important to learn new and alternative personal skills. In an economy like this, our ability is one of the best assets to invest in. I admit this is easier said than done. However, the more specialized skills you have, the more indispensable you are, and the higher compensation you receive. Here are few things you can do to sharpen your skills: If you are still in school, learn things outside your educational premises School is the time when you can spare some hours learning new skills by joining some course or coaching classes. You can take up a part time job, go for internship, join summer camps, interact with more people, and try to learn as much as you can from your experience. Take Up Skill Building Jobs Instead of simply taking up job  [...]
    at August 16th, 2010 at 01:08 am
  • Living Like a Drug Dealer is Much Better>
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    Living Like a Drug Dealer is Much Better
    Living life like a drug dealer doesn’t necessarily mean you have to consume drugs. One of my friends is into this business and he earns much more than he needs for his survival. However, he is happy giving away a major part of his earnings to charitable organizations, and lives life moderately. Only by understanding and adopting certain principles, he managed to have a cheerful life. Let’s see whether any of these can be useful to us. You Can Get Anything But Not Everything He has enough money to buy anything he wants. But buying everything is certainly not possible. Similarly, we too cannot have anything. Always, in life, we would come across multiple choices to choose from. However, taking all the paths is not possible. You have top choose any one. Don’t Bother About Others Most of  [...]
    at August 11th, 2010 at 03:08 am
  • Retirement Redefined By Daniel Solin>
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    Retirement Redefined By Daniel Solin
    Recently I read the book ‘The Smartest Retirement Book You’ll Ever Read’ by Daniel R. Solin. This is probably different for other books. The personal finance books that I generally enjoy reading are the ones that add new insights to existing topics. This book too has some great points about retirement. Let’s explore the key points one by one. 1. Rethink Retirement Investment Solin mentions it very bluntly that if you don’t protect your retirement investment against inflation, you will run out of money much soon than you anticipate. Inflation is the only thing that can ruin your retirement plans. It can depreciate the value of money. So, the money you are saving now will worth much less during your retirement. So, what’s the solution? You can keep certain amount of your investment  [...]
    at July 14th, 2010 at 03:07 am
  • Money or Happiness?>
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    Money or Happiness?
    Being happy doesn’t depend on number of dollars we have in our pocket. It’s a psychological concept. Rich and poor, both can be happy. However, we make statements like ‘Being happy is better than being rich’, when we have money. But being rich gives us the freedom and privilege to do things that makes us happy. Being rich gives us the power to do things that we want to do. In many parts of world, people slog whole day simply to earn money equivalent to a couple of dollars. The work for more than 12 hours a day, hardly sparing any time to spend with their family. Yet, when we ask these people if they are happy, they say they are. The fact is, some are happy, many are not. But they move on with life. For those people, happiness simply means earning enough to satisfy their  [...]
    at June 28th, 2010 at 01:06 am
  • Whoever Said ‘Money Can’t Buy Happiness’>
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    Whoever Said ‘Money Can’t Buy Happiness’
    We have heard it many times, but whoever says it is either very poor, or very wealthy. Poor says it because they aren’t able to get more money. Most of their trouble is due to money. Don’t you think money wouldn’t be able to bring happiness in their lives? Most certainly, it would. On the other hand, the super rich doesn’t have to worry about things. They have enough to give $1,000 charity every month, buy a new car as soon as it is launched, and still left with lots. If they have to take a bus to workplace every day, get irritating creditors calls, and pay credit card bills with penalties, when all they are left with is $200 to meet all the monthly expenses, they would know what real problems are. They simply tell you this because they want to be one of the ‘middle  [...]
    at June 18th, 2010 at 03:06 am
  • Tax Sheltered Annuity Plans For Retirement>
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    Tax Sheltered Annuity Plans For Retirement
    Tax Sheltered Annuity, or simply a TSA, is a plan that permits employees of public organizations to contribute some amount every month, without paying taxes on it. So, the contributor can invest of part of his gross annual income toward a tax-sheltered plan (403(b) or TSAs). People who are eligible to contribute toward such plan includes employees in public schools (1 to 12), universities, colleges, churches, charity organizations, and libraries. The contributor must keep investing in this plan until the age of retirement (59 ½ years) to receive tax benefits. If he withdraws money after retirement age, taxes applicable on such withdrawals are comparatively low. The funds toward which the contributor has to pay is usually chosen by the employer. Quite similar to other retirement plans, transfer  [...]
    at June 14th, 2010 at 03:06 am
  • Simplifying Savings>
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    Simplifying Savings
    One of the main causes of recent economic crisis in our country was that we did not have the habit of SAVING. Whenever we had money in our hands, we would instantly spend it, without thinking about the future or our financial position. We were all used to being highly dependent on credit cards and used to spend more than we actually had to begin with. Let us forget about all the mistakes we made earlier, and now start afresh. So, in the present situation, each one of us is aware about the importance of savings in today’s life. The importance of savings has been clearly established, but one question keeps hanging above our heads, like a ticking pendulum. HOW CAN I SAVE MONEY? Here are simple ways to do it. 1.      KEEP A TAB Note down all your expenses in a journal. List it according  [...]
    at June 10th, 2010 at 01:06 pm
  • Alternative Student Loans – A Complete Guide>
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    Alternative Student Loans – A Complete Guide
    Loans fill up the financial gap, often created either due to insufficient flow of funds or improper financial management. Similarly, alternative student loans help students with adequate funds when they aren’t able to meet their expenses. The Lenders Finding list student loan lenders is an uncomplicated task these days. Most of these lenders have an online presence, making it easier for students to fid them. However, majority of these lenders provide secured student loans. The need some kind of security before lending a loan. As a student, you can select a trusted brand and fill up an online application for alternative student loan. It is, however, important to read all the details mentioned on the form including the ‘fine print’. Although there isn’t a significant difference in the  [...]
    at June 2nd, 2010 at 03:06 am
  • Private Investors for Small Business – Basics>
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    Private Investors for Small Business – Basics
    You have got a brilliant business idea but you don’t have funds to invest in it. This is the case with most of us. However, those who really believe in themselves and have the courage to turn it into reality, manage it efficiently. They approach banks, credit unions, and other financial bodies to finance their business. The major problem is we aren’t aware about all the finance sources available to us when it comes to funding small business. There are various ways to get monetary help. One such effective source is private investors for small business. Private investors are people who lend money to new startups on comparatively higher rate of interest. It is, however, difficult ascertain their lending criteria as every one of them would have their own set of conditions. But they are generally  [...]
    at May 21st, 2010 at 01:05 am
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