Some very important financial tips that everyone should know

Some very important financial tips that everyone should know ….

1. Avoid buying property on loans as it eats most of your earnings unless you have a clear plan for its repayment. It’s important to monitor cash flow. Though, the house will be your asset, your liability will be much more.

2. Start a SIP at a very young age. Try to save atleast 15–25 % of your earnings.

3. Avoid buying a car unless you use it everyday.
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4. Do not let this sentence scare you. “Mutual fund investment are subject to market risk. Please read the offer documents carefully before investing”. Most people avoid investing in mutual funds just because of this one warning. Yes, there is a market risk, but look at the history and growth of mutual funds.

5. Try having a simple wedding.

6. Atleast 20% of your wealth should be liquid so you can utilize it when necessary.

7. Considering inflation, you are actually losing money if it is in savings bank account. Do not keep huge money in savings bank account.

8. If you invest in stocks, pay due attention.

9. If you invest in stocks have a separate account for delivery investment and Intraday investment. It is easy to monitor this way and also makes tax calculation easy

10. Do not have a belief that property and car make you rich. Its what you save and invest, that is important.

11. Never invest in insurance for returns. Insurance is not an investment option. It is a risk management tool.

12. Never use credit cards for lavish spending. Use credit cards intelligently and for needs not for wants.

13. Cancel all credit cards before you die. Or inform family about all your accounts, credit cards, loans and saving now itself. Even a small residue will cost your family much.

14. Invest on yourself and then on other investments.

15. Always try to balance your earnings with your savings first, then on spending and loans. Never take unnecessary loans. Always have reserve and utilise them and unless no other go never take loan.

16. Always have a plan for future events on your career, life, spending and finance.

17. Always have a reserve on your savings for contingency and urgent situations.

18. Your personal life and health are the most important investment. Do have a regular health check and do healthy workout every day. Stay healthy and live happily.

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Time Will Come!

Kenya is 2 hrs ahead of Nigeria, but it does not mean that Nigeria is slow, or that Kenya is fast. Both countries are  working based on their own “Time Zone.”

Some one is still single. Someone got married and ‘waited’ 10 yrs before having a child, there is another who had a baby within a year of marriage.

Someone graduated at the age of 22, yet waited 5 years before securing a good job; and there is another who graduated at 27 and secured employment immediately !

Someone became CEO at 25 and died at 50 while another became a CEO at 50 and lived to 90 years.

Everyone works based on their ‘Time Zone’,

People can have things worked out only according to their pace.
Work in your “time zone”.

Your Colleagues, friends, younger ones might “seem” to go ahead of you.
May be some might “seem” behind you.

Don’t envy them or mock them, it’s their ‘Time Zone.’
You are in yours!

Hold on, be strong, and stay true to yourself. All things shall work together for your good. You’re not late … You are not early … you’re very much On time!

The #SelfieAgainstDowry campaign

IPC 498A (Anti-Dowry law) has been rampantly misused by many sections of the society.

The ever decreasing rate of conviction and increase in the number of frivolous cases during the last few years has not only opened the eyes of the common men, but also the judiciary, media, Women’s Ministry and the governments (both central and state governments) to an extent that the government is now mulling over amending the said law.

In such an environment, a local Panchayat from a small village called Bibipur in Haryana has come up with a campaign for #SelfieAgainstDowry.

It is important to note that the same Panchayat had won acclaims and accolades for its #SelfieWithDaughter campaign which was later adopted by Prime Minister Narendra Modi in his revolutionary Mann Ki Baat series and passed on to a billion population of India.

This time again the Panchayat is expecting a similar response and is in the news again.

“Killer” Job!

This is in respect to a news that a man has killed his wife and mother as they used to quarrel a lot. It is also reported that he wasn’t happy with his job. One can find the original new here.

What has come to light is the increase in number of incidents where men have ended live – either of self or others. This abnormal behaviour of some men are generally considered less important unless and until a life of a woman is ended. However as far as National Crime Records Bureau (NCRB) suicides statistics are concerned, to say that the situation related to men’s suicide is alarming will be an understatement.

What has come to light in all such reports is that there is a tendency by investigating agencies to dissociate the offence from troubles women are giving to men. This in no way is to imply that the crime committed is a lesser crime. Any act of killing others or oneself is highly deplorable in itself, irrespective of the cause that led to it.

However it is imperative to understand the kind of investigation that takes place when such offence is committed. It is usually inferred that such murder/suicide has happened because the man was troubled due to financial problems like a loan that he isn’t able to repay, lack of monetary resources to buy a property or dissatisfaction at his work. The default tendency is to equate a man’s happiness directly to his earning.

“Job” has become such an integral & indispensable part of a man’s life that every altercation men suffer due to family problems are automatically related to his Job! The idea that he could be a victim of unhealthy relationships due to his wife or girlfriend is rejected. Murder or suicide due to financial problems becomes a safe assumption.

And this so-called ‘safe’ assumption becomes the lead of the investigation done by police! The whole investigation takes a pre-determined turn. It fails to record a possibly true reason that the women could be oppressors, culprits or abettors.
Women can never do wrong is a word every policemen tends to swear unless there is a clear prima facie suggesting the same. This is more of a problem the entire society suffers.

Reverse the genders and every altercation where women are the victim is related to her husband not taking ‘good’ care of him regardless of the fact whether she had anything ‘constructive’ to put her mind into… read her ‘job’ or lack of it!

This typecasting of both genders into categories – men into negative & women into positive – is detrimental to the civic health of families and societies at large.