Tag: Money

Family finance: How salaried Singhs can achieve their money goals easily

Loknath Das

Raman Singh and Amrita Kaur are both employed and bring in a combined monthly salary of Rs 1.5 lakh. They live in their own house worth Rs 1 crore, in Delhi, with their two children, aged eight and four. They have no liabilities, and their portfolio comprises equity in the form of mutual fundsworth Rs 82.2 lakh, debt worth Rs 90 lakh in the form of EPF, PPF and fixed deposits, and Rs 5 lakh as cash. Their goals include building an emergency corpus, saving for their kids’ education and weddings, buying another house,…

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How to save money on travel (including bucket list destinations)

Loknath Das

Whether it’s written down in the back of your agenda, in a note on your phone or filed away in a mental cabinet to be called on by daydreams when work and life get too hectic, we all have a bucket list of places we’d love to go. Unfortunately for many of us, that’s exactly where these destinations stay — on a list that never gets checked off. Pricey flights and hotels make jet-setting to far off, exotic locales difficult. But if you know how to go about booking them, you…

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Family finance: Why Pune-based Agarwals are on the right track to achieving their money goals

Loknath Das

Sahil Agarwal, an IT consultant, stays with his homemaker wife and one-year-old child, in Pune. He stays on rent, even though he has his own house, which provides a rental income of Rs 12,000 a month. Combined with Agarwal’s monthly salary of Rs 91,000, his total income comes to Rs 1.03 lakh. The household expenses amount to Rs 57,000, insurance premium accounts for Rs 4,583, and Rs 25,000 is put into investments. This leaves Agarwal with a surplus of Rs 16,417. His portfolio comprises a house worth Rs 70 lakh, cash of…

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Ex-Googler Turns Mom’s Money Into a Billion Dollars

Loknath Das

HIGHLIGHTS With less than $1 million in capital he moved from California to Shenzhen Anker is now valued at about $1.1 billion Company is embedded with the supply chain in Shenzhen After Steven Yang left his coveted job at Google, he asked his mother whether he should take venture-capital money to fund his business idea. If his online consumer-electronics enterprise was a risky bet, she told him, go with the venture capitalists. But if building the business into something great was his destiny, he instead should use her money from a…

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What is AAA Travel and Can It Save You Money On Travel?

Loknath Das

Before you could research and book your travel in an instant on the Internet, you needed AAA Travel. The information superhighway has made DIY travel planning extremely easy, but travel agencies including AAA Travel still exist. If you’ve grown up in the Internet age, you’re probably wondering what is AAA Travel? If you or you’re family booked a flight or planned on driving across the country as a child, it’s possible you used an AAA service. Whether you needed roadside assistance, a TripTik, or a travel agent to book your trip, it…

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How Technology Can Save Your Small Business Big Money

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If you own a small business, you know how important it is to keep costs down and profits up. In fact, experts say that over 80% of small businesses that fail do so because they suffer from problems with their cash flow. No matter how great your business idea is, if you can’t fund it, it won’t succeed in the market. Luckily, there are ways that you can use technology to increase your chances of success and protect yourself from some of the common problems that small business owners have.…

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Sexism was pervasive in finance, says Virgin Money boss

Loknath Das

Virgin Money boss Jayne-Anne Gadhia has told MPs that sexism was “pervasive” in the “very male culture” of finance. Ms Gadhia spoke of one example from her time at Royal Bank of Scotland when a senior woman was very upset because she was “expected to sleep with her boss”. She was speaking to MPs as part of their inquiry into women in finance. Ms Gadhia, who was at RBS from 2001 to 2007, added that the industry had improved at dealing with sexism in the workplace. Parliament’s Treasury Committee is…

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12 Super Simple Money Management Tips for Your Personal Finances

Loknath Das

The best financial advice tends to apply to pretty much everyone. You don’t need a spreadsheet of pros and cons and complex scenarios. What you need is a rule of thumb. There’s no shame in using one-size-fits-all advice. A study of West Point cadets, for example, found teaching rules of thumb was at least as effective as standard personal finance training in increasing students’ knowledge and confidence as well as their willingness to take financial risks. Researchers found money rules of thumb were more effective than teaching accounting principles to small business owners…

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Parents didn’t have electricity at home or enough money to send me to school: UPSC rank 3 topper

Loknath Das

How did a farmer’s son from a remote village in Andhra Pradesh make it to rank three, all-India level, in the Union Public Service Commission’s civil services 2016 examination? There was a time when 30-year-old Gopala Krishna Ronanki’s parents, Ronanki Appa Rao and Rukminamma, an agricultural labourer often out in the fields, did not even have electricity at home or enough money to send him to a private school. Ronanki has been a teacher in a primary school for the last 11 years. His family belongs to Parasamba village of…

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How the Title I Money Is Distributed

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The federal government distributes the $14.5 billion program for poor students, known as Title I, to states and school districts based on four separate formulas. Here is how they work: Basic Formula This formula allocates Title I dollars to school districts based on the number of poor students they serve. A district qualifies for the funding if it has at least 10 poor children and 2 percent of its students live in poverty. This means that virtually all school districts, even very wealthy school districts, get at least some Title…

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