Tuesday, November 24

Money Matters

4 Golden Rules to Save Money
Money Matters

4 Golden Rules to Save Money

How to save Money ? I have always feared running out of money or not having some when I need it the most. A few silly experiences (like the ones below) in the past have gotten me this way. 1. As a student studying in a different town, there was this time when my bus ride home broke down in the middle of nowhere. I had wiped my purse clean to pay for the bus ticket. I had no possible means of getting a taxi or even calling my father to let him know where I was. (Pre credit card era, pre mobile phone era). This scared the S#@% out of me and I thank god that I reached home safe and sound. 2. After 6 months of a well-paying IT job, I had to move to another location. I had 0 in savings and had to borrow money from mom to pay the deposit at the working women’s hostel. Asking money from an...
Where is my Money??
Money Matters

Where is my Money??

Where is our money going? Between my husband and I, we are spending over 3000$ a month. We don’t have any expensive hobbies or habits. We don’t eat out more than twice a week (the month is question is an exception). We pack our lunch every day. We do not buy packaged food and almost cook everything from scratch. So, what I found out on a recent budget experiment is freaking me out. Row Labels Sum of Cost Eat Out 527.96 Grocery 329.49 Household 21.7 Monthly Recurring Cost 1815.06 Yearly Recurring  Cost 378.94 One time Travel Expense 73.5 Grand Total 3146.65 For most of you reading this article, 3000$ a month might come across as a right amount to be spending. But keep in mind that we do not have any kids or pets. 3000$ a month adds...
Should I save Money?
Money Matters

Should I save Money?

Honestly, I do not know but I do it anyway. Why? Because of the too many articles that I have been reading about what happens during retirement when health expenses rise exponentially and income is almost negligent. There are too many ‘what-ifs’ that are driving me to save money for my future. Following are 3 examples from people I know and their money saving model. Save, save, save: Saves 70% of the paycheck I don’t have binge shopping sprees. Almost all purchases are well planned. I indulge myself with Lunch\dinners outside at least twice a week and Starbucks- maybe twice a month as so on. For any purchase over 100$, I sit with the decision for a day before I buy it. I am not cheap but I do not spend on unnecessary stuff. Summary: I am on track for retirement. I ...
USA: Save your Account from Online Thefts
Money Matters

USA: Save your Account from Online Thefts

Like many others, I too came to the USA with the great American dream. As in India, I share my Account Details with anyone who owes me money. 3 months later, I used an online site to transfer some money to India and all they wanted was my Acct Number, Name and the Routing Number (Which is unique to a bank). They did not ask for passwords or any other details. This lack of security seemed odd, so a colleague and I walked to the nearest Bank and spoke to their representative. We thought he would assure us that our accounts were safe. Instead, he told us the exact opposite. He said that anyone with our Account Number, Name and Routing Number* can transfer money out of our accounts. a. Every time you gave someone a check, you gave them your name, account number and routing number on a pi...