From PTI
IDBI Federal Life Insurance, the joint venture insurance firm formed by IDBI Bank, Federal Bank and European Insurance firm Ageas, has formally kicked off commercial operations in Chennai.
The company, which began operations in March, 2008, had issued over 2.10 lakh policies offering an assured sum of Rs 9,819 crore till July, 2010, IDBI Federal Life Insurance said in a statement here.
With the setting up of a new branch in Chennai, IDBI Federal Life Insurance has presence in 53 cities, it said.
In the joint venture between IDBI Bank, Federal Bank and Ageas, IDBI Bank owns 48 per cent equity, while Federal Bank and Ageas own 26 per cent each. IDBI Federal Life Insurance aimed to strengthen its distribution network by adding 1,500 distributors and agents this fiscal, the statement added.
-PTI
Showing posts with label Personal Finance. Show all posts
Showing posts with label Personal Finance. Show all posts
Monday, September 27, 2010
IDBI Federal Life Insurance launches operations in Chennai
From PTI
IDBI Federal Life Insurance, the joint venture insurance firm formed by IDBI Bank, Federal Bank and European Insurance firm Ageas, has formally kicked off commercial operations in Chennai.
The company, which began operations in March, 2008, had issued over 2.10 lakh policies offering an assured sum of Rs 9,819 crore till July, 2010, IDBI Federal Life Insurance said in a statement here.
With the setting up of a new branch in Chennai, IDBI Federal Life Insurance has presence in 53 cities, it said.
In the joint venture between IDBI Bank, Federal Bank and Ageas, IDBI Bank owns 48 per cent equity, while Federal Bank and Ageas own 26 per cent each. IDBI Federal Life Insurance aimed to strengthen its distribution network by adding 1,500 distributors and agents this fiscal, the statement added.
-PTI
IDBI Federal Life Insurance, the joint venture insurance firm formed by IDBI Bank, Federal Bank and European Insurance firm Ageas, has formally kicked off commercial operations in Chennai.
The company, which began operations in March, 2008, had issued over 2.10 lakh policies offering an assured sum of Rs 9,819 crore till July, 2010, IDBI Federal Life Insurance said in a statement here.
With the setting up of a new branch in Chennai, IDBI Federal Life Insurance has presence in 53 cities, it said.
In the joint venture between IDBI Bank, Federal Bank and Ageas, IDBI Bank owns 48 per cent equity, while Federal Bank and Ageas own 26 per cent each. IDBI Federal Life Insurance aimed to strengthen its distribution network by adding 1,500 distributors and agents this fiscal, the statement added.
-PTI
Monday, March 29, 2010
Chennai Money - keep liquid investments in some cases
Keep some of your investments Liquid
Chennai personal finance wisdom -
Sponsored by OruAcre.com
Are you planning a major purchase this year? If so, make sure to keep some of your investments liquid. The liquidity of an asset refers to how quickly it can be converted to cash without penalty. So, if you are planning a significant expenditure, is important to have liquid assets to avoid pulling from a long-term investment or a retirement fund at an inopportune time.
Most long-term accounts will penalize you for withdrawing your money too early. Some will take away the interest that you have earned; others will actually dip into the principal that you have invested. Utilize a high-yield savings account or a short-term Fixed deposits to have funds accessible when you need them.
Hope this helps in your savings!!!
Chennai personal finance wisdom -
Sponsored by OruAcre.com
Are you planning a major purchase this year? If so, make sure to keep some of your investments liquid. The liquidity of an asset refers to how quickly it can be converted to cash without penalty. So, if you are planning a significant expenditure, is important to have liquid assets to avoid pulling from a long-term investment or a retirement fund at an inopportune time.
Most long-term accounts will penalize you for withdrawing your money too early. Some will take away the interest that you have earned; others will actually dip into the principal that you have invested. Utilize a high-yield savings account or a short-term Fixed deposits to have funds accessible when you need them.
Hope this helps in your savings!!!
Chennai Money - keep liquid investments in some cases
Keep some of your investments Liquid
Chennai personal finance wisdom -
Sponsored by OruAcre.com
Are you planning a major purchase this year? If so, make sure to keep some of your investments liquid. The liquidity of an asset refers to how quickly it can be converted to cash without penalty. So, if you are planning a significant expenditure, is important to have liquid assets to avoid pulling from a long-term investment or a retirement fund at an inopportune time.
Most long-term accounts will penalize you for withdrawing your money too early. Some will take away the interest that you have earned; others will actually dip into the principal that you have invested. Utilize a high-yield savings account or a short-term Fixed deposits to have funds accessible when you need them.
Hope this helps in your savings!!!
Chennai personal finance wisdom -
Sponsored by OruAcre.com
Are you planning a major purchase this year? If so, make sure to keep some of your investments liquid. The liquidity of an asset refers to how quickly it can be converted to cash without penalty. So, if you are planning a significant expenditure, is important to have liquid assets to avoid pulling from a long-term investment or a retirement fund at an inopportune time.
Most long-term accounts will penalize you for withdrawing your money too early. Some will take away the interest that you have earned; others will actually dip into the principal that you have invested. Utilize a high-yield savings account or a short-term Fixed deposits to have funds accessible when you need them.
Hope this helps in your savings!!!
Monday, January 11, 2010
Different Categories of Chennai People by Salaries - Economy of Chennai
I was talking to some of my friends in Chennai and corporate personnel in Chennai for the status of Chennai. Based on those discussions and interviews, here is my inference for Chennai Economy and reality check of the same.
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
Different Categories of Chennai People by Salaries - Economy of Chennai
I was talking to some of my friends in Chennai and corporate personnel in Chennai for the status of Chennai. Based on those discussions and interviews, here is my inference for Chennai Economy and reality check of the same.
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
Chennai Personal Finance Tips for 2010
• If you can't afford it, don't buy it. Live within your means.
• Create a monthly budget and stick to it.
• Evaluate your finances, and cut back on unnecessary expenditures.
• Keep up to date with your monthly payments. Missing a single month could cost you thousands of dollars in interest down the road.
• Reassess your life and car insurance policies. You could potentially save money by switching to a different company.
• Create a monthly budget and stick to it.
• Evaluate your finances, and cut back on unnecessary expenditures.
• Keep up to date with your monthly payments. Missing a single month could cost you thousands of dollars in interest down the road.
• Reassess your life and car insurance policies. You could potentially save money by switching to a different company.
Chennai Personal Finance Tips for 2010
• If you can't afford it, don't buy it. Live within your means.
• Create a monthly budget and stick to it.
• Evaluate your finances, and cut back on unnecessary expenditures.
• Keep up to date with your monthly payments. Missing a single month could cost you thousands of dollars in interest down the road.
• Reassess your life and car insurance policies. You could potentially save money by switching to a different company.
• Create a monthly budget and stick to it.
• Evaluate your finances, and cut back on unnecessary expenditures.
• Keep up to date with your monthly payments. Missing a single month could cost you thousands of dollars in interest down the road.
• Reassess your life and car insurance policies. You could potentially save money by switching to a different company.
Saturday, April 11, 2009
Chennai Slums and Chennai Microfinance help
Chennai Slums and Microfinance help
When researchers met with people living in slums in Chennai, during a research, people brought the sufferings that they faced with the private money lenders. With no hope to get small business loans from financial institutions, people living in slums that would like to start up small businesses had to turn to illegal lenders charging a hefty high monthly interest. Moreover, they are totally shut out from professional help on starting and running a small business. In order to let the lives of people living in slums to be self-sustainable, as well as to help parents in Chennai to earn enough income to send their children back to school, we will have to decide to start micro credit and micro finance programs in Chennai.
In general, the rate of repayment of the loans is expected to be 99%. Micro-credit can be provided to the community for carrying out the following activities:
1. Flower Vending
2. Tea Stall
3. Cloth Vending
4. Sugar Cane Juice
5. Grocery shop
6. Milk Vending
7. Tricycle
8. Vegetable Vending
9. Sewing Machine
10. Idly Shop
11. Bakery
12. Fancy Store
13. Bottle cap
14. Dry Fish
15. Petty Shop
16. Basket Making
17. Rice Grinding
18. Ironing
19. Goat rearing
20. Selling toys
If you are a self-sufficiently budgeted person, you could try this project?!
When researchers met with people living in slums in Chennai, during a research, people brought the sufferings that they faced with the private money lenders. With no hope to get small business loans from financial institutions, people living in slums that would like to start up small businesses had to turn to illegal lenders charging a hefty high monthly interest. Moreover, they are totally shut out from professional help on starting and running a small business. In order to let the lives of people living in slums to be self-sustainable, as well as to help parents in Chennai to earn enough income to send their children back to school, we will have to decide to start micro credit and micro finance programs in Chennai.
In general, the rate of repayment of the loans is expected to be 99%. Micro-credit can be provided to the community for carrying out the following activities:
1. Flower Vending
2. Tea Stall
3. Cloth Vending
4. Sugar Cane Juice
5. Grocery shop
6. Milk Vending
7. Tricycle
8. Vegetable Vending
9. Sewing Machine
10. Idly Shop
11. Bakery
12. Fancy Store
13. Bottle cap
14. Dry Fish
15. Petty Shop
16. Basket Making
17. Rice Grinding
18. Ironing
19. Goat rearing
20. Selling toys
If you are a self-sufficiently budgeted person, you could try this project?!
Chennai Slums and Chennai Microfinance help
Chennai Slums and Microfinance help
When researchers met with people living in slums in Chennai, during a research, people brought the sufferings that they faced with the private money lenders. With no hope to get small business loans from financial institutions, people living in slums that would like to start up small businesses had to turn to illegal lenders charging a hefty high monthly interest. Moreover, they are totally shut out from professional help on starting and running a small business. In order to let the lives of people living in slums to be self-sustainable, as well as to help parents in Chennai to earn enough income to send their children back to school, we will have to decide to start micro credit and micro finance programs in Chennai.
In general, the rate of repayment of the loans is expected to be 99%. Micro-credit can be provided to the community for carrying out the following activities:
1. Flower Vending
2. Tea Stall
3. Cloth Vending
4. Sugar Cane Juice
5. Grocery shop
6. Milk Vending
7. Tricycle
8. Vegetable Vending
9. Sewing Machine
10. Idly Shop
11. Bakery
12. Fancy Store
13. Bottle cap
14. Dry Fish
15. Petty Shop
16. Basket Making
17. Rice Grinding
18. Ironing
19. Goat rearing
20. Selling toys
If you are a self-sufficiently budgeted person, you could try this project?!
When researchers met with people living in slums in Chennai, during a research, people brought the sufferings that they faced with the private money lenders. With no hope to get small business loans from financial institutions, people living in slums that would like to start up small businesses had to turn to illegal lenders charging a hefty high monthly interest. Moreover, they are totally shut out from professional help on starting and running a small business. In order to let the lives of people living in slums to be self-sustainable, as well as to help parents in Chennai to earn enough income to send their children back to school, we will have to decide to start micro credit and micro finance programs in Chennai.
In general, the rate of repayment of the loans is expected to be 99%. Micro-credit can be provided to the community for carrying out the following activities:
1. Flower Vending
2. Tea Stall
3. Cloth Vending
4. Sugar Cane Juice
5. Grocery shop
6. Milk Vending
7. Tricycle
8. Vegetable Vending
9. Sewing Machine
10. Idly Shop
11. Bakery
12. Fancy Store
13. Bottle cap
14. Dry Fish
15. Petty Shop
16. Basket Making
17. Rice Grinding
18. Ironing
19. Goat rearing
20. Selling toys
If you are a self-sufficiently budgeted person, you could try this project?!
Monday, January 26, 2009
What to do if You Lose Your Job - Chennai Personal Finance Wisdom
What to do if You Lose Your Job
You lost your job, now what?
Stay positive and surround yourself with supportive family and friends and consider the following steps:
1) Immediately evaluate expenditures, bills and financial accounts for strengths and weaknesses.
2) Adjust your budget accordingly and minimize discretionary spending.
3) Discuss with your employer severance pay, outplacement services and medical insurance continuation options.
4) Check out the free job placement and career training services offered by your state. Taking classes will enhance your resume.
5) Remember, every penny saved will add up and help you get through until you find a new job.
Sourced from f e e d p i g dot org
You lost your job, now what?
Stay positive and surround yourself with supportive family and friends and consider the following steps:
1) Immediately evaluate expenditures, bills and financial accounts for strengths and weaknesses.
2) Adjust your budget accordingly and minimize discretionary spending.
3) Discuss with your employer severance pay, outplacement services and medical insurance continuation options.
4) Check out the free job placement and career training services offered by your state. Taking classes will enhance your resume.
5) Remember, every penny saved will add up and help you get through until you find a new job.
Sourced from f e e d p i g dot org
What to do if You Lose Your Job - Chennai Personal Finance Wisdom
What to do if You Lose Your Job
You lost your job, now what?
Stay positive and surround yourself with supportive family and friends and consider the following steps:
1) Immediately evaluate expenditures, bills and financial accounts for strengths and weaknesses.
2) Adjust your budget accordingly and minimize discretionary spending.
3) Discuss with your employer severance pay, outplacement services and medical insurance continuation options.
4) Check out the free job placement and career training services offered by your state. Taking classes will enhance your resume.
5) Remember, every penny saved will add up and help you get through until you find a new job.
Sourced from f e e d p i g dot org
You lost your job, now what?
Stay positive and surround yourself with supportive family and friends and consider the following steps:
1) Immediately evaluate expenditures, bills and financial accounts for strengths and weaknesses.
2) Adjust your budget accordingly and minimize discretionary spending.
3) Discuss with your employer severance pay, outplacement services and medical insurance continuation options.
4) Check out the free job placement and career training services offered by your state. Taking classes will enhance your resume.
5) Remember, every penny saved will add up and help you get through until you find a new job.
Sourced from f e e d p i g dot org
Tuesday, January 20, 2009
Supplementing Your income - Chennai Personal Finance Wisdom
Supplementing Your Income
If you've reduced your monthly expenses but still find it hard to save each month, consider additional sources of income—which doesn't always mean working a second job on the side. Look for income sources that are flexible, sustainable and enjoyable. Here are some ideas:
* Become a virtual assistant – Virtual assistants are individuals hired to perform duties online that don't require a physical presence, such as conducting research, designing websites, writing articles and making reservations.
* Start a home business – Turn your skills and hobbies into an additional income source. Home businesses are often inexpensive to start and easy to grow and promote via the Internet.
* Write a blog – Earning a little extra money can be as easy as blogging from your home. With free or low-cost blog publishing tools, you could turn a small time investment into extra savings.
Sourced from f e e e e d p i g
If you've reduced your monthly expenses but still find it hard to save each month, consider additional sources of income—which doesn't always mean working a second job on the side. Look for income sources that are flexible, sustainable and enjoyable. Here are some ideas:
* Become a virtual assistant – Virtual assistants are individuals hired to perform duties online that don't require a physical presence, such as conducting research, designing websites, writing articles and making reservations.
* Start a home business – Turn your skills and hobbies into an additional income source. Home businesses are often inexpensive to start and easy to grow and promote via the Internet.
* Write a blog – Earning a little extra money can be as easy as blogging from your home. With free or low-cost blog publishing tools, you could turn a small time investment into extra savings.
Sourced from f e e e e d p i g
Supplementing Your income - Chennai Personal Finance Wisdom
Supplementing Your Income
If you've reduced your monthly expenses but still find it hard to save each month, consider additional sources of income—which doesn't always mean working a second job on the side. Look for income sources that are flexible, sustainable and enjoyable. Here are some ideas:
* Become a virtual assistant – Virtual assistants are individuals hired to perform duties online that don't require a physical presence, such as conducting research, designing websites, writing articles and making reservations.
* Start a home business – Turn your skills and hobbies into an additional income source. Home businesses are often inexpensive to start and easy to grow and promote via the Internet.
* Write a blog – Earning a little extra money can be as easy as blogging from your home. With free or low-cost blog publishing tools, you could turn a small time investment into extra savings.
Sourced from f e e e e d p i g
If you've reduced your monthly expenses but still find it hard to save each month, consider additional sources of income—which doesn't always mean working a second job on the side. Look for income sources that are flexible, sustainable and enjoyable. Here are some ideas:
* Become a virtual assistant – Virtual assistants are individuals hired to perform duties online that don't require a physical presence, such as conducting research, designing websites, writing articles and making reservations.
* Start a home business – Turn your skills and hobbies into an additional income source. Home businesses are often inexpensive to start and easy to grow and promote via the Internet.
* Write a blog – Earning a little extra money can be as easy as blogging from your home. With free or low-cost blog publishing tools, you could turn a small time investment into extra savings.
Sourced from f e e e e d p i g
Saturday, January 17, 2009
minimum salary required to run middle class in chennai?
Chennai is an interesting and unique place, like many cities in India - in which we can live with any kind of money.
Middle class article written before.
Even with Rs.2000 per month, you can get your life with family going. You can even live with Rs.1,00,000 per month. It is all about afford-ability.
You can go to the local street idly shop and have a nice breakfast with even Rs.3(equivalent to one cent in USD). Can you imagine to do the same in a city in any other country?
You can also go to a star hotel in Chennai and have the breakfast on the table for even Rs.300. You can live to both extremes.
However, who is middle class in Chennai? Middle class in Chennai is somebody who would not go to the streets and eat! Middle class is somebody who would not go to the star hotel and have their breakfast. Middle class is somebody who gets the groceries from shops and cooks at home and anything he/she wants prepares at home and be happy with what they have.
Highly budgeted about personal finance. They know how much they get as income every month. Middle class in Chennai learn to live with what they have and make in every month. Usually they always run month to month with their salaries. Middle classes are highly community oriented and they are clubbed within the relatives for their rest of the lives.
Here is a list of items - they need every month. Please put it in a sheet of paper of excel spreadsheet and fill it up for yourself.
House Rent
Petrol and Auto expenses
Monthly Bills
Phone
Electricity
Internet
Groceries
School Fees
Going out and Shopping
Restaurants
Medical Expenses
Loan Installments
Insurance Payments
Parents expenses
If you are setting up a middle-class family in Chennai, here is what you will need.
Car (optional - depends - mostly upper middle class)
Furniture
Bike
Bicycle
Kitchen Utensils
If you use these data points and fill it up for yourself, you would get some idea about what would you need every month to get your middle-class family going in Chennai.
Depending upon your cost you enter, you can determine, if you belong to middle-class family or upper-middle class family in Chennai. Again, I would say, if you want to lead a middle class life - it might take Rs.10,000 per month for a middle class family to run, excluding any loan needs you might have and your own home you might live in.
Please bear in mind, there is lot of inflation these days and all the prices have hiked up. Check up for your current needs and rates, before you act after reading this article.
This article was written upon request by one of the visitors. thank you
Middle class article written before.
Even with Rs.2000 per month, you can get your life with family going. You can even live with Rs.1,00,000 per month. It is all about afford-ability.
You can go to the local street idly shop and have a nice breakfast with even Rs.3(equivalent to one cent in USD). Can you imagine to do the same in a city in any other country?
You can also go to a star hotel in Chennai and have the breakfast on the table for even Rs.300. You can live to both extremes.
However, who is middle class in Chennai? Middle class in Chennai is somebody who would not go to the streets and eat! Middle class is somebody who would not go to the star hotel and have their breakfast. Middle class is somebody who gets the groceries from shops and cooks at home and anything he/she wants prepares at home and be happy with what they have.
Highly budgeted about personal finance. They know how much they get as income every month. Middle class in Chennai learn to live with what they have and make in every month. Usually they always run month to month with their salaries. Middle classes are highly community oriented and they are clubbed within the relatives for their rest of the lives.
Here is a list of items - they need every month. Please put it in a sheet of paper of excel spreadsheet and fill it up for yourself.
House Rent
Petrol and Auto expenses
Monthly Bills
Phone
Electricity
Internet
Groceries
School Fees
Going out and Shopping
Restaurants
Medical Expenses
Loan Installments
Insurance Payments
Parents expenses
If you are setting up a middle-class family in Chennai, here is what you will need.
Car (optional - depends - mostly upper middle class)
Furniture
Bike
Bicycle
Kitchen Utensils
If you use these data points and fill it up for yourself, you would get some idea about what would you need every month to get your middle-class family going in Chennai.
Depending upon your cost you enter, you can determine, if you belong to middle-class family or upper-middle class family in Chennai. Again, I would say, if you want to lead a middle class life - it might take Rs.10,000 per month for a middle class family to run, excluding any loan needs you might have and your own home you might live in.
Please bear in mind, there is lot of inflation these days and all the prices have hiked up. Check up for your current needs and rates, before you act after reading this article.
This article was written upon request by one of the visitors. thank you
minimum salary required to run middle class in chennai?
Chennai is an interesting and unique place, like many cities in India - in which we can live with any kind of money.
Middle class article written before.
Even with Rs.2000 per month, you can get your life with family going. You can even live with Rs.1,00,000 per month. It is all about afford-ability.
You can go to the local street idly shop and have a nice breakfast with even Rs.3(equivalent to one cent in USD). Can you imagine to do the same in a city in any other country?
You can also go to a star hotel in Chennai and have the breakfast on the table for even Rs.300. You can live to both extremes.
However, who is middle class in Chennai? Middle class in Chennai is somebody who would not go to the streets and eat! Middle class is somebody who would not go to the star hotel and have their breakfast. Middle class is somebody who gets the groceries from shops and cooks at home and anything he/she wants prepares at home and be happy with what they have.
Highly budgeted about personal finance. They know how much they get as income every month. Middle class in Chennai learn to live with what they have and make in every month. Usually they always run month to month with their salaries. Middle classes are highly community oriented and they are clubbed within the relatives for their rest of the lives.
Here is a list of items - they need every month. Please put it in a sheet of paper of excel spreadsheet and fill it up for yourself.
House Rent
Petrol and Auto expenses
Monthly Bills
Phone
Electricity
Internet
Groceries
School Fees
Going out and Shopping
Restaurants
Medical Expenses
Loan Installments
Insurance Payments
Parents expenses
If you are setting up a middle-class family in Chennai, here is what you will need.
Car (optional - depends - mostly upper middle class)
Furniture
Bike
Bicycle
Kitchen Utensils
If you use these data points and fill it up for yourself, you would get some idea about what would you need every month to get your middle-class family going in Chennai.
Depending upon your cost you enter, you can determine, if you belong to middle-class family or upper-middle class family in Chennai. Again, I would say, if you want to lead a middle class life - it might take Rs.10,000 per month for a middle class family to run, excluding any loan needs you might have and your own home you might live in.
Please bear in mind, there is lot of inflation these days and all the prices have hiked up. Check up for your current needs and rates, before you act after reading this article.
This article was written upon request by one of the visitors. thank you
Middle class article written before.
Even with Rs.2000 per month, you can get your life with family going. You can even live with Rs.1,00,000 per month. It is all about afford-ability.
You can go to the local street idly shop and have a nice breakfast with even Rs.3(equivalent to one cent in USD). Can you imagine to do the same in a city in any other country?
You can also go to a star hotel in Chennai and have the breakfast on the table for even Rs.300. You can live to both extremes.
However, who is middle class in Chennai? Middle class in Chennai is somebody who would not go to the streets and eat! Middle class is somebody who would not go to the star hotel and have their breakfast. Middle class is somebody who gets the groceries from shops and cooks at home and anything he/she wants prepares at home and be happy with what they have.
Highly budgeted about personal finance. They know how much they get as income every month. Middle class in Chennai learn to live with what they have and make in every month. Usually they always run month to month with their salaries. Middle classes are highly community oriented and they are clubbed within the relatives for their rest of the lives.
Here is a list of items - they need every month. Please put it in a sheet of paper of excel spreadsheet and fill it up for yourself.
House Rent
Petrol and Auto expenses
Monthly Bills
Phone
Electricity
Internet
Groceries
School Fees
Going out and Shopping
Restaurants
Medical Expenses
Loan Installments
Insurance Payments
Parents expenses
If you are setting up a middle-class family in Chennai, here is what you will need.
Car (optional - depends - mostly upper middle class)
Furniture
Bike
Bicycle
Kitchen Utensils
If you use these data points and fill it up for yourself, you would get some idea about what would you need every month to get your middle-class family going in Chennai.
Depending upon your cost you enter, you can determine, if you belong to middle-class family or upper-middle class family in Chennai. Again, I would say, if you want to lead a middle class life - it might take Rs.10,000 per month for a middle class family to run, excluding any loan needs you might have and your own home you might live in.
Please bear in mind, there is lot of inflation these days and all the prices have hiked up. Check up for your current needs and rates, before you act after reading this article.
This article was written upon request by one of the visitors. thank you
Thursday, January 15, 2009
what would you do with Rs.1 crore? - Chennai Finance Wisdom
Sponsored by OruAcre.com
What would you do, if you get a financial windfall of Rs.1 crore?
Would you invest all into real estate?
Would you buy stocks and put it into the market?
Would you and your wife enjoy spending it?
Would you give it for charity?
What would you do?
I am sure you would be shocked! Money can come in various ways to you. At some point of time, if you are lucky, you would get a financial windfall. Be prepared! I am not saying tomorrow you would get a windfall, but any point of life, it can happen.
As soon as you get a financial windfall, don't do anything. There would be lot of advices, lot of new friends, lot of relatives hanging out with you. These people wouldn't have even cared for you in normal days. Hence, don't get overwhelmed. Just stay calm and do whatever you were doing, as in past.
However, you should consult the financial planner and not mention about the windfall. If you mention about it, you will be looted by commissions. However, if this financial planner is a trustworthy person, he/she is the right person to talk to.
Talk to your good friends about it and others ignore it. However, don't overthrow any good friends on the name of money.
Don't panic. If you panic, you will end up putting the money in wrong places. Hence, stay calm and patient.
The whole idea of putting all the money into one pocket is not a good. The age old fundaa has to be applied here. Diversification...
Think about what you really need from life? Do you want to just stay on life and exist in life, without working. Retire early? or do you want to become big using this money?
Put the money in various pockets and make sure you have enough backup for anything emergent. Invest in something, which would earn you money, with a safety lock on it. In Chennai there is solid business - build commercial complexes, wherein businesses can be opened. You would get good money for your living.
So, invest a part of it, in real estate. I wouldn't give any percentage, because it depends on what you really want in life, based on Rs.1 crore you have. Invest in lands.
Pay off all the debts you will have;
Invest in market; Invest in businesses you know very well;
Invest on people; Make yourself a job, out of it;
Build businesses for yourself. Have a great backup like 40% of the money!
Give some for charity...
Don't forget to enjoy the money - like 3 lakhs for enjoyment out of 1 crore.
At last, don't forget one important point - People first, Money next!
If you have any thoughts, please post your opinions here by clicking on the comments below the article.
What would you do, if you get a financial windfall of Rs.1 crore?
Would you invest all into real estate?
Would you buy stocks and put it into the market?
Would you and your wife enjoy spending it?
Would you give it for charity?
What would you do?
I am sure you would be shocked! Money can come in various ways to you. At some point of time, if you are lucky, you would get a financial windfall. Be prepared! I am not saying tomorrow you would get a windfall, but any point of life, it can happen.
As soon as you get a financial windfall, don't do anything. There would be lot of advices, lot of new friends, lot of relatives hanging out with you. These people wouldn't have even cared for you in normal days. Hence, don't get overwhelmed. Just stay calm and do whatever you were doing, as in past.
However, you should consult the financial planner and not mention about the windfall. If you mention about it, you will be looted by commissions. However, if this financial planner is a trustworthy person, he/she is the right person to talk to.
Talk to your good friends about it and others ignore it. However, don't overthrow any good friends on the name of money.
Don't panic. If you panic, you will end up putting the money in wrong places. Hence, stay calm and patient.
The whole idea of putting all the money into one pocket is not a good. The age old fundaa has to be applied here. Diversification...
Think about what you really need from life? Do you want to just stay on life and exist in life, without working. Retire early? or do you want to become big using this money?
Put the money in various pockets and make sure you have enough backup for anything emergent. Invest in something, which would earn you money, with a safety lock on it. In Chennai there is solid business - build commercial complexes, wherein businesses can be opened. You would get good money for your living.
So, invest a part of it, in real estate. I wouldn't give any percentage, because it depends on what you really want in life, based on Rs.1 crore you have. Invest in lands.
Pay off all the debts you will have;
Invest in market; Invest in businesses you know very well;
Invest on people; Make yourself a job, out of it;
Build businesses for yourself. Have a great backup like 40% of the money!
Give some for charity...
Don't forget to enjoy the money - like 3 lakhs for enjoyment out of 1 crore.
At last, don't forget one important point - People first, Money next!
If you have any thoughts, please post your opinions here by clicking on the comments below the article.
what would you do with Rs.1 crore? - Chennai Finance Wisdom
Sponsored by OruAcre.com
What would you do, if you get a financial windfall of Rs.1 crore?
Would you invest all into real estate?
Would you buy stocks and put it into the market?
Would you and your wife enjoy spending it?
Would you give it for charity?
What would you do?
I am sure you would be shocked! Money can come in various ways to you. At some point of time, if you are lucky, you would get a financial windfall. Be prepared! I am not saying tomorrow you would get a windfall, but any point of life, it can happen.
As soon as you get a financial windfall, don't do anything. There would be lot of advices, lot of new friends, lot of relatives hanging out with you. These people wouldn't have even cared for you in normal days. Hence, don't get overwhelmed. Just stay calm and do whatever you were doing, as in past.
However, you should consult the financial planner and not mention about the windfall. If you mention about it, you will be looted by commissions. However, if this financial planner is a trustworthy person, he/she is the right person to talk to.
Talk to your good friends about it and others ignore it. However, don't overthrow any good friends on the name of money.
Don't panic. If you panic, you will end up putting the money in wrong places. Hence, stay calm and patient.
The whole idea of putting all the money into one pocket is not a good. The age old fundaa has to be applied here. Diversification...
Think about what you really need from life? Do you want to just stay on life and exist in life, without working. Retire early? or do you want to become big using this money?
Put the money in various pockets and make sure you have enough backup for anything emergent. Invest in something, which would earn you money, with a safety lock on it. In Chennai there is solid business - build commercial complexes, wherein businesses can be opened. You would get good money for your living.
So, invest a part of it, in real estate. I wouldn't give any percentage, because it depends on what you really want in life, based on Rs.1 crore you have. Invest in lands.
Pay off all the debts you will have;
Invest in market; Invest in businesses you know very well;
Invest on people; Make yourself a job, out of it;
Build businesses for yourself. Have a great backup like 40% of the money!
Give some for charity...
Don't forget to enjoy the money - like 3 lakhs for enjoyment out of 1 crore.
At last, don't forget one important point - People first, Money next!
If you have any thoughts, please post your opinions here by clicking on the comments below the article.
What would you do, if you get a financial windfall of Rs.1 crore?
Would you invest all into real estate?
Would you buy stocks and put it into the market?
Would you and your wife enjoy spending it?
Would you give it for charity?
What would you do?
I am sure you would be shocked! Money can come in various ways to you. At some point of time, if you are lucky, you would get a financial windfall. Be prepared! I am not saying tomorrow you would get a windfall, but any point of life, it can happen.
As soon as you get a financial windfall, don't do anything. There would be lot of advices, lot of new friends, lot of relatives hanging out with you. These people wouldn't have even cared for you in normal days. Hence, don't get overwhelmed. Just stay calm and do whatever you were doing, as in past.
However, you should consult the financial planner and not mention about the windfall. If you mention about it, you will be looted by commissions. However, if this financial planner is a trustworthy person, he/she is the right person to talk to.
Talk to your good friends about it and others ignore it. However, don't overthrow any good friends on the name of money.
Don't panic. If you panic, you will end up putting the money in wrong places. Hence, stay calm and patient.
The whole idea of putting all the money into one pocket is not a good. The age old fundaa has to be applied here. Diversification...
Think about what you really need from life? Do you want to just stay on life and exist in life, without working. Retire early? or do you want to become big using this money?
Put the money in various pockets and make sure you have enough backup for anything emergent. Invest in something, which would earn you money, with a safety lock on it. In Chennai there is solid business - build commercial complexes, wherein businesses can be opened. You would get good money for your living.
So, invest a part of it, in real estate. I wouldn't give any percentage, because it depends on what you really want in life, based on Rs.1 crore you have. Invest in lands.
Pay off all the debts you will have;
Invest in market; Invest in businesses you know very well;
Invest on people; Make yourself a job, out of it;
Build businesses for yourself. Have a great backup like 40% of the money!
Give some for charity...
Don't forget to enjoy the money - like 3 lakhs for enjoyment out of 1 crore.
At last, don't forget one important point - People first, Money next!
If you have any thoughts, please post your opinions here by clicking on the comments below the article.
Saturday, January 10, 2009
Advice for Credit Card Users - Chennai Money Wisdom
Smart Tips for Credit Card Users
Credit cards can help build a good credit history but improper use can be disastrous. It can be said that credit card debt is easy come and not so easy go. Being knowledgeable and reading the fine print may save you money and may prevent unnecessary expenses when it comes to using plastic.
If you own one or more credit cards, consider the following tips:
1) Most credit cards offer rewards such as airline tickets, cash back, car insurance and other incentives.
2) Paying off your monthly balance to avoid interest will allow you to fully reap the benefits of the card.
3) Credit card applications may often contain low interest rates to attract customers. Before you sign, research: varying interest rates, minimum payment requirements, grace periods, annual fees and credit limits.
4) Understand the impact that cancelling a credit card will have on your credit score. If the card is one that you've had for awhile and consistently paid off, it could negatively affect your credit rating.
Sourced from: f e e d t h e p i g
Credit cards can help build a good credit history but improper use can be disastrous. It can be said that credit card debt is easy come and not so easy go. Being knowledgeable and reading the fine print may save you money and may prevent unnecessary expenses when it comes to using plastic.
If you own one or more credit cards, consider the following tips:
1) Most credit cards offer rewards such as airline tickets, cash back, car insurance and other incentives.
2) Paying off your monthly balance to avoid interest will allow you to fully reap the benefits of the card.
3) Credit card applications may often contain low interest rates to attract customers. Before you sign, research: varying interest rates, minimum payment requirements, grace periods, annual fees and credit limits.
4) Understand the impact that cancelling a credit card will have on your credit score. If the card is one that you've had for awhile and consistently paid off, it could negatively affect your credit rating.
Sourced from: f e e d t h e p i g
Advice for Credit Card Users - Chennai Money Wisdom
Smart Tips for Credit Card Users
Credit cards can help build a good credit history but improper use can be disastrous. It can be said that credit card debt is easy come and not so easy go. Being knowledgeable and reading the fine print may save you money and may prevent unnecessary expenses when it comes to using plastic.
If you own one or more credit cards, consider the following tips:
1) Most credit cards offer rewards such as airline tickets, cash back, car insurance and other incentives.
2) Paying off your monthly balance to avoid interest will allow you to fully reap the benefits of the card.
3) Credit card applications may often contain low interest rates to attract customers. Before you sign, research: varying interest rates, minimum payment requirements, grace periods, annual fees and credit limits.
4) Understand the impact that cancelling a credit card will have on your credit score. If the card is one that you've had for awhile and consistently paid off, it could negatively affect your credit rating.
Sourced from: f e e d t h e p i g
Credit cards can help build a good credit history but improper use can be disastrous. It can be said that credit card debt is easy come and not so easy go. Being knowledgeable and reading the fine print may save you money and may prevent unnecessary expenses when it comes to using plastic.
If you own one or more credit cards, consider the following tips:
1) Most credit cards offer rewards such as airline tickets, cash back, car insurance and other incentives.
2) Paying off your monthly balance to avoid interest will allow you to fully reap the benefits of the card.
3) Credit card applications may often contain low interest rates to attract customers. Before you sign, research: varying interest rates, minimum payment requirements, grace periods, annual fees and credit limits.
4) Understand the impact that cancelling a credit card will have on your credit score. If the card is one that you've had for awhile and consistently paid off, it could negatively affect your credit rating.
Sourced from: f e e d t h e p i g
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