In one of my blog, I explained the difference between Productive Asset and Non Productive Asset & I suggested, not to invest in Non Productive Assets…There is one more class of Asset & it’s called Depreciating Assets. Your 4 wheeler i.e. Car falls in this category. The assets in this category neither appreciate nor give any regular returns or helps in savings. The investment in this asset class depreciates over a period of time. On top of it, if u buy any such asset by availing loan then it’s a huge Financial Loss/burden. Always avoid Car Loan and Car should be purchased from own fund ... Read More
How to get a Safe Deposit Locker from Bank?
Trust me it is very difficult to get a Safe Deposit Locker from Bank..I faced this trauma thrice in life…Now U must be wondering, i must be super rich and hired 3 lockers but to clarify as & when i changed cities during professional journey, i required locker in new cities…The crux of the matter is to get a locker from bank is like snatching a piece of flesh from the jaws of a Lion. As some wise men said “Experience makes men wise & so as I”… After 3 traumatic experiences, i understood “How to play with psychology of bank staff” & i would like to share with all. Basically Lockers ... Read More
Avoid Shopping at Supermarkets or Hypermarkets
Retail revolution is taking place in Big Cities of India and everybody is gung ho about it…According to me it’s a step towards consumerism in India. Every time i visit any of Supermarket like Big Bazaar or HyperCity, I end up buying more and shop for almost double the amount then required…Every week i visit Supermarket with the list of items required & before entering the Supermarket i promise myself that i will not buy any item/product outside the list and i will purchase only required quantity. Once i finish shopping, i realize again i end up buying more..Its better to avoid Avoid ... Read More
Beware of Relationship Manager / Personal Banker
Recently i received a call from my Relation Manager and she told me, she has 1 awesome investment plan to offer & she would like to share the details with me …While talking to her, I was thinking about myself and some of my friends who were trapped by Personal bankers….In past, I took some wrong financial decisions based on RM’s advise and lost my hard earned money…This time though i was in no mood to invest but just to test myself that have i attained financial wisdom, i told her to mail me complete details…After going though details, I applied all my knowledge which i gained during last ... Read More
Credit Card – SAVE while you SPEND
I am sure that till date, most of the articles u might have read related to Credit Cards must have advised you not to use credit card…Now u must be wondering why i am writing an article on Benefits of Credit Card and advocating its usage…Reason is very simple becoz of huge benefits linked to Credit Card…At the same time we should remember following points while using credit card else it will become headache for us Credit card should be used Wisely, Judiciously & only for unavoidable/necessary expenses. Credit Card should be avoided for Impulse buying. Credit Card usage should not ... Read More
Dream Home Vs Gold – Productive Vs Non Productive asset
Indians are basically mad about or fond of following Four 1. Increasing Population (India’s population is proof of same) 2. Cricket 3. Movies 4. Last but not the least the craze for Gold (Simply check out qty of gold with few of ur frnds/relatives) Gold and Property are 2 most preferred investments mode for Indians with Gold being at No. 1 position…Most of the times, people are confused between Dream Home Vs Gold…Recently one of my friend asked same question to me which put me in confusion then after lot of research and analysis my conclusion is, though Gold act as potent tool/hedge ... Read More