Krishnan's Blog

I since long wanted to write and maintain a financial blog. I love to read about financial things and also love to achieve financial freedom. But the fact is a lot of good financial blogs and books are for the western people. There is no India centric blog or book. I think I should start writing a financial blog which are useful for Indians. I have also started preparations. The preparations have to go on for some time and it might take atleast another year. I am however sure that a blog will come up soon, which will talk about all the financial matters which are Indian centric and useful to Indians. It might take atleast a year for me to be ready to really write a blog. Mean while some of the blogs that I really likes are as follows: I will teach you to be rich The simple dollar

Chennai is indeed a beautiful city. It is a IT hub and stands second next only to banglore in terms of IT export, which means it also has a large number of educated population. But are these so called educated people really educated? Are they aware of the traffic rules? Are they aware of civic sense? Wearing formal dresses and working in an MNC sitting in an air conditioned office doesn't mean being cultured. It means a lot more than that. The below picture made me write this small blog post. I prefer to reduce my words and let the picture do the talking. 

Making the will during your life time is one of the most important aspects of everybody's life. The hard work done by you for the entire life can get washed away in a moment if you happen to die without making a will as to who will be your successor. Hence, making a will well in time in your life is as important as living a healthy life. The laws and procedures for making the will are different in all the countries. I am going to briefly cover on the procedure of making the legally valid will in India. The will can be made at any age after 21 years in India. The procedure of making the will that is legally valid is very simple in India as compared with many other countries of the world. You can make the will on plain paper in India. It is not necessary to make the will on judicial or non judicial stamp paper in India. You can get the will typed on a plain paper. However, it is advisable to write your will in your own hand writing as the same can be verified later in case of any d...

Road Rage can be frequently seen in every country and in every traffic conditions. In traffic when a person comes in our way, we get angry and we scold him. This is a very basic type of road rage. But when the same anger crosses a certain limit road rage of course becomes a serious issue. We on a daily basis read a lot of cases about fights on the road and a lot of us might have also witnessed some. From my personal experience I once argued with a driver who was about to hit a man riding in a moped before him wantedly. The moped man's mistake, he camein the way of the car driver's track. Another similar incident happened in my locality, where a car driver punched a motorist on his eyes. The car driver was later thrashed by the public and handed over to the police. These kinds of scenes are very prevalant in the city traffic. The main reason for such nuisances is lack of awarness about taffic rules among common people, ease of getting license ( can be obtained by paying bribe ...

So far we have taken a medical insurance, opened two R.D accounts ( one for next year's medical insurance and another one to get a life insurance next year ) and of course realized our mistake. Now its time to pay for all the mistakes already done, that is clearing all the debts ( card balances & other loans ). The first step is to know what is the balance amount that needs to be paid in all the cards. In my case I found out which card had the lowest balance payable and which card had the highest balance payable. I also found out that in which cards where free. I took one such free card and went to a shop I know and swiped the card for the required amount and took the money from him. I then paid back all the balances in the card which had less balances. I then converted this new balance into EMIs. Then I did similar rotations and converted all my balances into EMIs. This way I will not be charged any useless fees and can also pay back my card balances easily. The loans are also...

One big mistake that we all can avoid are some unnecessary expenses. Let's take my pwn case as an example. I recently had a Sony ericsson k660i cell phone ( Rs10,000/- ). That cell phone was not even a year old. I have a bad habit of taking my cell phone with me inside the washroom. Suddenly one day the cell phone fell inside the toilet seat and it was done. I had to buy a new cell phone, there was no other go. That month we had some excess cash and hence I got my hands on a new cell phone. I bought a Nokia 7210 supernova ( Rs5400/- ). So my entire expense within one year for the same purpose was Rs15400/-, which on invested would have been a useful asset. A lot of people do the same mistake. Though this is a very small post but could explain a lot. Lesson: Avoid purchasing things which you do not need. Think twice before buying something.

" I was browsing the internet and there were lots of blogs which told about investment and how to achieve financial freedom, but they did not tell anything about the baby steps that we need to take in the beginning. "  This was the email that my cousin sent me one day. He was also interested in becoming rich and investing his money and having good control over it. He also wanted to take some insurances but felt that he cannot pay some huge amounts ( Rs6000/- ) as a one time payment. A valid point indeed. A lot of us feel the pinch if we need to pay the medical insurance or any other insurance as a full one time payment. Taking Rs6000/- out of monthly budget is going to cripple our finances of that month. I myself felt the pinch when I renewed my medical insurance this year.  Here comes something called a Recurring deposit account aka a R.D account . This is an account in which we can pay any amount ( min Rs100/- ) on a monthly basis for any number of years...