25 years back a Central Govt group A GO had a Basic Salary of 2200. Where could he have saved 1500 out of that(Rs 50 per day then) in a month. Be practical in calculation. Don't advise in retrospect.
Instead of saving money and making others (share brokers/government institutions etc) rich it is better to enjoy our earnings.. Live rich and do not worry about tomorrow and spoil your today.
Re: Enjoy the life
by Sayantan Majumdar on Apr 03, 2012 10:00 AM
You must be a kid my friend. As you become mature you will have to re state your statement "Live rich...blah blah blah"
It is high time that FM's of all the states and the Union FM take note of this article and instead of generating more revenue thru' taxes, curb the expenses.
Re: Make out FM read this
by CHANDAN BHOWMICK on Apr 02, 2012 07:34 PM
biggest blunder by govt was pay hike to central govt employees disproportionately.Now govt is unable to bear the expenses .One who was drawing Rs 20000.Per month before last pay commission now drawing more than Rs80000 without any reason.Infact in pay commission there was no representative from RBI to advice about finnancial implication which happens now.There is no way to come out of this trap and INDIA is heading GREECE like situation
Re: Re: Make out FM read this
by Biswajyoti Borkakoty on Apr 02, 2012 08:18 PM
Don't comment like an ignoramus! 6th pay commission hike was only 25%. Infact, the salary scale of govt employees are still too low compared to pvt or multinationals pay scales and not comparable to western countries.
It is becoz of commies like U in the bureaucracy that India is still struggling to develop.
Economy is work & efficient work and not money saved. If U work more the economy of the country will rise. If U spend more also the economy will rise. Economy falls when people don't utilize or circulate their money!
Re: Re: Re: Make out FM read this
by netinetineti on Apr 02, 2012 09:29 PM
babu mahashoi... what improvement do you want in the bureaucracy? they are corrupt louts with an insatiable appetite for money.. asking to increase their salary is like pouring petrol on fire.. what babu mahashoi 1,ie chandan has said is correct. paying the inept government servants more money and rewarding them for their incompetence is going to break the backs of the vast majority of hardworking indians.
In 2001 I targeted a property worth 3 lakhs I started SAVING Rs 5000/- from 2001 and till 2004 my saving was 2.75 lakhs including interest etc but that property price gone upto 5.0 lakh , I enhanced my saving to approx 8000/ pm and till 2010 my saving was 12.0 lakh but property price gone upto 18.0 lakh , still I further enhance my saving to Rs 10,000/- pm and now in 2012 I have a total saving of 20 lakh approx but that property price gone upto 28 lakhs , I am still not able to buy it What is Use of Saving money , Nothing !!!!
Re: no use
by sathig on Apr 02, 2012 06:22 PM
you should have bought 3L property on loan, by 2010 the property value is Rs 18L as per ur data, By 2010 you could have completed your loan with interest, and you would have been now the owner of 18L worth property, you r not guided properly
Re: Re: no use
by sathig on Apr 02, 2012 06:32 PM
Dont ever think to buy a property from ur saving, get loan, definity inflation will overtake your interest paid and you will get good value for money you invested
Re: no use
by jimmy noronha on Apr 02, 2012 08:50 PM
I too had the same experience, so the moment I saved about 4 lacs in 1987, I immediately put about 3 lacs in real estate, and today after 25 years the property is worth about one crore. So, be wise and invest in real estate and do not bank on bank and make others rich.
In 2001 I targeted a property worth 3 lakhs I started SAVING Rs 5000/- from 2001 and till 2004 my saving was 2.75 lakhs including interest etc but that property price gone upto 5.0 lakh , I enhanced my saving to approx 8000/ pm and till 2010 my saving was 12.0 lakh but property price gone upto 18.0 lakh , still I further enhance my saving to Rs 10,000/- pm and now in 2012 I have a total saving of 20 lakh approx but that property price gone upto 28 lakhs , I am still not able to buy it What is Use of Saving money , Nothing !!!!
Re: NO USE TO SAVE
by True Voice on Apr 02, 2012 12:20 PM
Why do you want to buy a property and make it as dead investment? Save money and travel every where, experience new things in live. Thats it. Typical Indians waste their savings for property or for children. Both are of no use
Re: Re: NO USE TO SAVE
by Ramachandran NandaKishore on Nov 28, 2012 11:54 AM
In Other countries, the Government takes care of the citizens and provide pension to every citizen . In India , it is not the case. We have to save for our old age . ( If you die young , in a way..you are lucky). I dont see anything wrong in saving money for a property. My advice to Sandy is to use your money and get loan from bank for the rest of the amount
best way to become rich is to take big amount of LIFE INSURANCE and then DIE early. at least ur family becomes rich. rediff please update this method...
Good article for middle & lower middle class where they are tempted to buy unwanted stuff just because of peer pressure. A maruti alto or any such entry level car would suffice a small family. But just because of the neighbor's big car people go for the higher end ones and end up in unwanted EMIs. So no saving take place. I know many people bought mid segment cars never traveled by air or never experienced pleasure trips. These unwanted EMIs are more than sufficient to make your life beautiful if saved properly
Re: After 25 years the value of 4laks is equal to todays 8000
by Rajinder Khosla on Apr 02, 2012 11:23 AM
If you won,t save you will not have even 8,000/-at that time
