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#personalfinance

Personal Finance

Are you making your money work for you?

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It’s not how much money you make, but how much money you keep, how hard it works for you. ~Robert Kiyosaki   Just as you work hard to make money, you must ensure that your money also works for you. Merely saving money is not enough, it should be invested properly so that it grows in value and helps you to realise your financial goals.   Why do you need to grow your money? Nobody needs to be told how unpleasant inflation is! It erodes the value of your money. As prices go up due to inflation, the same money will fetch you lesser goods. You cannot control inflation but you can beat the inflation by protecting yourself against it. That is possible when your money also grows in value at least equal to or more than the increase in the cost of living. Your investment should help you at least to preserve the purchasing power of your money.   Lifestyle Inflation But then, inflation is not the only devil.  When you make more money, you tend to spend more. Your and your family’s standard of living goes up and you incur more expenses to maintain that standard. The increase…

Hotel and Food Chains

Savor fine dining experience at these five places

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Fine dining is an occasional treat for most people. ~ Rene Redzepi Having great food in an exceptional restaurant in the company of our loved ones is an experience that most of us cherish. Last month, I had met up with my college classmates for our silver jubilee alumni meet. It was an out and out fun experience sitting out in sunshine and dining with old classmates at a club resort in Delhi, while recalling the memories of our college days.   We decided to meet up once each year thereafter in a different city, and so we zeroed in on a few of the finest dining places. Friends, who are now settled in different places suggested their local favourites. So, the list that emerged included some of the finest restaurants in different parts of the world. The top 5 names that came up are as follows. Woodpecker at Aamby Valley in Maharashtra : Being from Mumbai, I had put forth the name of this stylishly designed world cuisine restaurant, which overlooks a water body, and serves breakfast, lunch, dinner and weekend brunch. Cloud 9, at Grand Hyatt, Shanghai: This was suggested by a batch mate who had flown in all the way…

Personal Finance

Do your homework – Let your children dream

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We hurried off to the station. After dropping our daughter off at her college and helping her move in to her hostel room, it was time for my husband and me to leave. Getting into a college of choice is a big milestone in the life of a child.  At the same time letting go off your child is a strange experience, a little sad too for the parents. The thought that an ‘Empty nest’ awaits you can be upsetting. I prepared myself for quieter days ahead, with no nagging about food, sleeping late, clothes, cleaning, etc. After exchanging goodbye, we got on to the train, and in a while the train chugged out of the station. On my way back the memories of the day, when she first went to school swarmed through my mind. It seemed like it was only yesterday that we dropped our little girl to school for the first time. Fourteen years had elapsed in between. The little girl was now soon to be a young adult, rejoicing in her new-found freedom in the college, 2000 kms from home. Years seem to have passed by in a jiffy! Suddenly, I felt a sense of immense satisfaction of having discharged…

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