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Building blocks of financial planning

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Sarin P
I read the whole article
by Sarin P on Aug 18, 2009 02:53 PM

Yes the first two articles are really good. But moving further, the content is reduced and the explanations are at minimum. Particulary in the retirement planning article, what are the avenues and examples should have been of great help.

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Sarin P
Great article and upto the point.
by Sarin P on Aug 18, 2009 02:29 PM

Great article and upto the point. am going through other ones in the series and let you know how are they.

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Nicely written
by GAUTAM DUTTA on Jul 22, 2009 12:43 PM

The explaination is very precise and quite eye opening. One cannot expect to start developing all stages (Savings, stocks, real estate, bussiness, etc) (not always anyway) at the same time, so it makes sense to see where you stand at present and then start building your finances (first the safety nets and then the acrobatic maneuvours can be tried out. Really hope to see more inputs from you in the future.

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vaibahav   ektare
Thanks but I want some more guidence
by vaibahav ektare on Jul 19, 2009 01:38 PM  | Hide replies

Nice material.
I am an engineer getting approx. 45 K take home salary .

Initialy I had some liabilities towards family so taken some loans.

The total installment is approx. 14 K p.m.
Now, married since past 1 yr.
But I never find my finances in order.
Always my balance vanishes .
i am not able to plan any thing . no tax planning at the end of financial yr I end up paying maximum tax.
My wife is also working .
i don no how to manage , I am very depressed just because of this . I m expecting some good solution thru this forum .



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Ajay Pai
Re: Thanks but I want some more guidence
by Ajay Pai on Jul 21, 2009 04:13 PM
vaibhav, quickest way
put a spreadhseet with your monthly income and howmuch you can invest in SIP, NSC, PPF, FD, RD everymonth.
Whatever is leftout see if you can live with or is there more you can squeeze out or your investments are unrealistic.

If you feel ur monthly savings are fine for you then follow it everymonth religiously. I go to the postofice first saturday of everymonth to buy NSC. Ask your wife to pester you to do this everymotnth. That way you can atleast save something for the tax part :)

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vaibahav ektare
Re: Re: Thanks but I want some more guidence
by vaibahav ektare on Jul 21, 2009 10:44 PM
thanx sir,

I m done with wht u've said just now.
Yes I'd never thought this way .
I was always tryin to invest in bulk in which I failed always.

I've made the chart, Its now exactly on the wall , it may not be the correct way but I think this is how I should start.
I've actually never taken this money thing so seriously & it is the reason of my problems .
thanks for the guidence ...
May I expect some more expert comments ...

regards ,


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kudos good one
by RAJESH SISHODIYA on Jul 17, 2009 06:29 PM  | Hide replies

really good article. but i request the author to give more real life examples so that it touches even more to our lives

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Re: kudos good one
by Almighty on Jul 17, 2009 07:31 PM
Recession or not ...

.....only 3 things matter.
1) How to make money( job or business.)
2) Keep your expenses down to minimum
3) Save and invest consistently

one way to save and create more wealth is to stop paying high
interest rates to banks on home loans etc.
The best way to get out and stay out of high interest rates of
banks is by using some of the little known NBFC and private
institutions which have access to low cost funds and can offer
lower rates of 6.5-7.5% fixed for entire tenure of the loan.

I changed from my banks rippoff rate of 12.5% to 7.5% from private
finance company using one of my contacts.
I'll be saving over 16.4 lacs over the next 15 years by changing over
to private finance company. I can now save and invest this amount
to earn more or repay the loan 35% faster than before.
why work longer to make the bank richer at your cost ?

If interested in lowering your interest u too can contact
Sujith 09980807164

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Ajay Pai
Re: kudos good one
by Ajay Pai on Jul 21, 2009 04:05 PM
Instead of calculating all the mandatory expesnes da da da da... just simply target to save about 3-4 months worth salary in a separate account. It may take more time than expected, but if one gets really stingy it can be achived in about 6 months.
As soon as you get the salary, subtract all the obligations like loan payments, utilities, rent etc and take a portion of the rest and put it in a separate account (very imp to have it separate).

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Amreesh Reddy
I am feeling Dejected, overwhelmed and out-of-sorts
by Amreesh Reddy on Jul 17, 2009 05:13 PM  | Hide replies

I am just earning Rs 8,000/- per month. And after looking at the figures that are posted here I am feeling all that I have mentioned in the subject line.

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sridhar srinivasan
Re: I am feeling Dejected, overwhelmed and out-of-sorts
by sridhar srinivasan on Jul 17, 2009 09:54 PM
Don't worry with good thinking, hard work, interest, ideas, implementation, etc. anyone can make it big. ONLY you need unlimited enthusiasm to achieve it. Read inspiring lives of BIG people & how they made it to the top.

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Bharat Desai
Re: I am feeling Dejected, overwhelmed and out-of-sorts
by Bharat Desai on Jul 25, 2009 12:58 PM
Hi Amrish,

I believe your expenses are atleast less that your earning and you might be saving very small portion of your earning. Rather thinking of income figures posted here, you can start in smaller steps and accept that you will have to keep on saving/investing for longer time with discipline.

I think this article aplies to all who wish to implement.

On the other side, improvise yourself with better skills/knowledge/experience to increase your income.

I really wonder how you could have manage your expences. All da best.

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Srinivasan R
Excellent subject.
by Srinivasan R on Jul 17, 2009 05:10 PM  | Hide replies

The contents were highly informative and should reach down to the masses.

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Amreesh Reddy
Re: Excellent subject.
by Amreesh Reddy on Jul 17, 2009 05:16 PM
Right, but it's not for the masses and at least not for the people like me who just earn Rs 8000/- per month. How a person like me can think also of this kind of investment, when I don't have enough money to fill my stomach and my parents at home.

Not for "Aam Adhmi"

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pawan bisht
Re: Re: Excellent subject.
by pawan bisht on Jul 17, 2009 05:22 PM
Try to improve your earnings, by improving your qualiction and ability and then search for a better and high pay job.

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Jaidev R
Re: Excellent subject.
by Jaidev R on Jul 17, 2009 11:12 PM
Excellent article. expecting more such from Rediff.

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