It is always difficult to sell and do business, especially if you think that the ‘other’ profession you do is teaching. Let me tell you about a friend who came to me enthusiastically to buy life insurance (3 stories actually) One was a good friend – he said he wants to pay Rs. 20 lakhs […]
Stash away that bonus! If you belong to that class of employees who gets a bonus at Diwali time, lucky you! Today you would be sitting on that bonus in your hand and the whole family would have a claim on that. Who are the claimants on this bonus? Lots in fact! Thanks to the […]
In all my financial interactions – be it planning for clients, training, teaching or writing, people have come to me with some problem which they think is unique. In all the financial problems, I am able to find a pattern. Believe it or nor, people more often than not choose the problem by their behavior. […]
Many people underestimate the hurt that taxation causes to their investment. Let us take an example. If you invested Rs. 100,000 in a RBI bond which pays 8% p.a. before taxes, you will get Rs. 8000 as interest and assume you pay 30% tax you will be left with Rs. 5600 at the end of […]
I have found many people spend money to satisfy some need which actually they do not have! Can you believe this? I myself found it difficult. Let me explain. When it comes to impulse spending we try to please our needs. One need is actually felt by us deep inside. The other one is temporary […]
Many people think they (and the industry tells them) that they are eligible for a “home loan”, car loan, personal loan, credit card loan etc. Actually this is not true. You only get a loan against your Form 16, which means this is a loan against your future earning capacity. Imagine telling a lender that […]
Many people think creating wealth is a very difficult process. Funnily, it is not so! Let us look at some simple steps: 1. Stop procrastination! The best definition of procrastination that I know is unfortunately not printable! But it is easily one of the most important reasons why wealth does not get built. So start […]