Comments on: Ripley’s believe it or not…

By: c.j.gopinath

c.j.gopinath — Tue, 28 Aug 2012 10:41:20 +0000

I always say we should practice
Income-investments = expenses
but generally people follow
income-expenses= investments

By: natarajan

natarajan — Tue, 28 Aug 2012 09:08:53 +0000

Interestingly, during a school reunion after 25 years, i found that beyond the beautiful facade lies bottomless abyss! Some of the guys who came in flashy cars,sported expensive watches and mobiles,fancy living addresses were also neck deep in debt despite high level of income, while some of the average joes, seemed to have planned real well despite average income and were virtually debt free! The problem is when the money roles in the brain shuts down, ego and whims take over!

By: bharat shah

bharat shah — Tue, 28 Aug 2012 08:01:24 +0000

‘MANY a time do not even realise that they are spending MORE than they are earning.’
i think, one should consider the finance cost and depreciation of the capital items e.g. family car, home appliances etc. as expenses in the current year.

By: Jayant

Jayant — Tue, 28 Aug 2012 06:13:04 +0000

First hand experience on #5.

By: krish

krish — Tue, 28 Aug 2012 06:05:28 +0000

I feel society creates lot of pressure on high earners. While we may argue in several dimensions but bottom line is different. The higher earners are supposed to own a better car and phone than your subords. Furthermore luxury home in posh area, branded clothes, suites, fancy jewellary for the wife, best school for the kids, foreign vacation, expensive restaurents and the list is endless.

As expenses catch up with life style, it is little wonder even high income earners could end up with little money to save or invest. As matter of fact, your Rule # 1 makes lot sense for any category of people.

By: param

param — Tue, 28 Aug 2012 05:58:20 +0000

#5 is excellent. i got a call during the month of march from a ‘friend’ who managed to track down my phone number thru someone & we established contact after about 6-7 years. after 5 mins of small talk, he asked me whether i need help with tax planning, as he had targets to meet since he joined an insurance company recently. i don’t think i saved that number though

By: MRHDK

MRHDK — Mon, 27 Aug 2012 20:21:31 +0000

Last one is really amusing!