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Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Saturday, January 15, 2011

Top 5 ways to spend money and yet feel good about it


1.Re-skilling , learning and self development-  Now don’t you ever start to think that you’ve learnt it all. The moment you start resting on your retro academic laurels thinking there is nothing much to learn again, you are a dead man. Dead and gone…Poof ! Any HR manager worth his ‘Training Schedule’ will tell you that constant up gradation of skill sets is one way of ensuring you get noticed and stand a fair chance of getting promoted.  So one great way to spend money is to spend it on yourself by learning a new skill or by upgrading your existing skills. This in one way is more of an investment than spending when you think of it. Don’t worry too much about the ‘validity/acceptability’ of certificates. Its what you learnt and gained that matters most.

2.On experiences/travel – Life as they say is a series of experiences . The more varied and vivid, the more better it enriches life. It gives you confidence to face adversities in life. Travel does not have to be of the luxurious kind like taking off on a cruise ship.  The idea should be to live the moment and soak in the experience of your surroundings instead of spending your time in a hotel Suite. ( Please read 20 simple steps to the Perfect persuasive message if your wife insists on taking off on the cruise liner)

3.Buy a gift for a loved one-  Go buy something for  folks at home, spouse, children or even your best friend or teacher. They sure will appreciate the care that you have shown. The happiness which you get from their reactions far outweigh the money involved.

4.Go in person and donate to a charity near your home- The joy of giving is now no more a vague feeling.  Research has now proven beyond doubt that the joy that you get when donating your money or something of value to charity is more than what you get through monetary rewards.” "The same regions of the brain that are associated with the reward and the good feeling you have when you get something yourself, like money, were the same areas that were activated when you give. That surprised us," says Grafman. "And not only were the same areas involved, but in fact they were more activated when you give than when you receive."
Read it at sciencentral.com .

5.Buying and reading Books-  If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest. Benjamin Franklin quote. So go buy a book of anything that interests you and start acquiring that knowledge which will enrich your life. After a Dog, I think Books are a mans best friends (Politically correct statement- err..this is for the unmarried dudes and those of you who don’t have girlfriends or boyfriends)

So how many of these five have you done? How many do you intend to do?

Tuesday, January 11, 2011

Why don’t new hires plan their taxes ?

"Abracadabra, thus we learn the more you create, the less you earn. The less you earn, the more you're given, the less you lead, the more you're driven, the more destroyed, the more they feed, the more you pay, the more they need, the more you earn, the less you keep, And now I lay me down to sleep. I pray the Lord my soul to take, if the tax-collector hasn't got it before I wake."
-- Ogden Nash
Most new hires are completely immersed & concerned about the following: 

1. Did boss notice me staying late yesterday?
2. Are my slim fit trousers looking good on me today?
3. Will my weekly appraisal pass without having a perforated ear drum?

The last question on any newbie’s mind is “how do I plan my taxes/finances?” This issue arises primarily from the fact that they have gone from earning ZERO per month till last month to about 20 or 30 or 40k from the current month onwards.   Who cares if ‘somebody’ takes a few thousand bucks from their salary.When responsibilities are nil, commitments less and age on your side, people don’t bother about what happens to their hard earned money.  Some of them get into this cycle of thinking “No money to invest in lump sum so no tax investments. Since there are no tax investments , tax deductions happen from salary on a monthly basis.That’s enough ‘Gyan’ for the day.  We will assess your tax outflow in the upcoming blog.