A while ago I wrote an article on needs v/s wants wherein I talked that in this fast paced world of consumerism we are increasingly concentrating on our wants viz a viz our needs. One of the biggest reasons for such a change is that we no more feel the pain of paying. You must be wondering, what is pain of paying? Imagine you are out for shopping and you come across a very smart watch. The moment you see it you feel like buying it as this was something you wanted for long. Now you have three options to pay for it i.e. Cash, Debit Card and Credit Card. Continue reading “Credit Card Swipe: Wipes the Pain”
Category: Financial Planning
Financial Safety Nets to Sleep-In-Peace
Have you ever seen the trapeze acts in the circus? Trapezes are those acts wherein artists swing in the air and do breath taking stunts. Are these acts not risky or these people belong to some other world? These artists are normal people like you and me and believe me the acts are also very risky. But what lets them perform these acts fearlessly is the safety net placed below them. What if there is no safety net? Either the artists wouldn’t perform or the performances would not be upto the mark. The fact that there is a safety net to protect them in case they were to fall helps them to overcome the fear of falling and motivates them to perform to the best of their abilities. Protection enables these artists to take higher risks. Continue reading “Financial Safety Nets to Sleep-In-Peace”
Make Your Kids Money Smart
“Twinkle Twinkle little star
How I wonder what you are
Up above the world so high
Like a diamond in the sky”
This rhyme reminds me of my childhood days when I was taking my first step towards becoming one of those stars who would shine like a diamond in the sky i.e. towards becoming a successful person in life. Today when I teach the same rhyme to my young daughter , I aspire the same for her. Continue reading “Make Your Kids Money Smart”
Have you managed your risk
Whether it is investing, driving or walking down the street everyone exposes themselves to risk. At the outset, let us first understand what is risk in investing? We often hear people saying that you should not invest in XYZ, it is risky. To most of us, risk in investment is when market value goes down below the amount so invested. For instance, if Rs.1 Lac invested becomes Rs.98000, we presume it to be a risky investment. Continue reading “Have you managed your risk”
Emergencies don’t knock the door!!!!
Emergency Funds- The moment we hear this, it reminds us of our Savings A/c; isn’t it??? Most of us often confuse our Savings A/c with an emergency fund and hence believe that our savings a/c is our emergency fund.
If I go by the literal meaning of Emergency Fund – “It is that cash that one saves for the sole purpose of helping him/her maintain a normal life in times of unforeseen emergencies”. Now tell me – “Is it justified to call Savings A/c an emergency fund?” We use savings account for both our needs and wants whether it be our daily living expenses or shopping or entertainment expenses. And as the month end approaches, in most cases the balance in savings a/c tends to get to its lowest levels. Continue reading “Emergencies don’t knock the door!!!!”