I have been battered around for too many radical views….and saying the following things: – do not buy a house, rent it – LIC is a lousy investment, do not expect miracles from it – so on and so forth So having said all that let me ask you one terrible question: Is doing an […]
I deal with many kids in their 20’s and am normally shocked how little they know about personal finance! Here is a class 101 for parents on what their kids should know (I guess it is like sex education for the parents – they know it is important, but they are personally so confused, they […]
I have done quite a few posts on managing money jointly….so here is one more… Here are some excellent tips…and has emerged out of a lot of experience of consulting, counselling, reading, skimming…etc. So, here we go: 1. Money is surely the root cause of all disputes: having too much, having too less, in what […]
Your daughter earns Rs. 44,612 per month as take home salary. You were initially very happy and proud about this. Then 3 months passed, you got her passbook updated, and noticed that she had a balance of 29, 643. You thought it was about Rs. 100,000 short 🙂 What happened? Well there was a phone, […]
Our children’s attitude towards money is largely fashioned by our attitude towards money. So if you and your wife fight about money, or argue about money or hide things from each other, rest assured your prince or princess is watching you. One needs to be very clear in the communication with the kids. Keeping an […]
This is a touchy topic! Should parents give money to adult kids? Let us say for the following: Buying a car Buying a house Higher education Marriage For an expensive vacation (expensive because the kid cannot afford it) I do have strong views on this. Everybody should learn to live within their means. If you […]
When you are doing well and have a nice surplus (and the world can see it!) there is a good chance that people come to you for help. Nothing wrong in their coming, and nothing wrong in your giving, however it is not easy. Let me give you a few examples: Mr. M an executive […]