An interesting article by Yogesh Chhabria.
LATELY, I have been thinking a lot about the Lehman crisis. Spending money that they didn't have and going beyond their means is one of the main reasons for their situation today. In fact that is the cause for the current economic crisis in the US.
When I see all this happening, I can only remember the good old days. Then, karz was bad. People looked down upon those who took loans. Parents would not give their daughter's hand in marriage to a man with loans.
But of course, the times have changed now. Everyone I know has a loan. The buzz word is EMI (equated monthly installment). Today, you can buy everything on EMI - a house, a television, an i-Pod. In fact I know of someone who just bought a fancy BMW 3 series on EMI, instead of buying a cheaper car outright with cash. I mostly prefer to take public transport, but then I am an old man with old thoughts!
Anyway, coming back to what caused the crisis. Imagine having Rs 2 lakh in your bank account, no regular income, yet buying a house worth Rs 65 lakh, in the hope of selling it for a higher price. Even if the price of the house fell by just 5 per cent (that is Rs 3 lakh), you will go bankrupt.
This is what Lehman Brothers did; with around USD 20 billion they went and bought assets worth over USD 600 billion. Isn't it suicidal and simply foolish?
I am sure things would have been different, had I been the head of Lehman brothers. But who wants an old conservative man like me to head a complex financial institution.
But there are a few lessons that we can learn:
1.Live a balanced life and avoid overspending.
2.Don't buy things we don't need.
3.Don't buy Branded good's.
4.Don't buy excess Food, Cloths, Cosmetics, Footwear, electronics and Fashion accuracies........just think before you buy.
Tip: World still has a lot of growth ahead and the future holds immense opportunities for us. Let us make the most of it and save and invest it wisely instead of wasting our precious little on things we don't need.
5.Try to balance life with work (No one is happy to work in their profession).
6. Don't stress out your self, after work try to do some extra activities like swimming, yoga, walking, running where you can divert your mind from stress.
A thumb rule: Health is more important than money.
7.Try to understand each other (Wife and Husband) in financial matter's and help each other.
Tip: As soon as you get your monthly salary, set aside a fixed amount, usually 35 per cent, for insurance, savings and investments. You can then spend the rest.
8. Not all loans are bad. Loans that are 'need based' (home loans, education loans) can always find a place in your finances against those that are largely 'want based' (Credit cards, personal loans, car loans).
9. Borrow only if repayment is financially comfortable.
A thumb rule: Keep EMIs within 35 to 45 per cent of your monthly income
In that respect, there is one American who I really respect - WARREN BUFFET. He has lived in the same ordinary house for over three decades, drives his own medium sized car and leads an extremely regular 'middle class' life. If that's all it takes for the richest person on earth to be happy, why do all of us need to take extra stress just so that we can get things which aren't even essential?
Thursday, October 16, 2008
Saturday, June 28, 2008
Lost
I feel I have lost my heart...
And yet I can hear it beat loud!
Like the sun which I know is there,
But hidden behind the cloud!
The sun is lost... And so is my heart...
And the weather seems so gay!
The tiny drops fall on the ground,
Washing all sorrows away!
My heart is lost... And so is the sun...
And my life seems so gay!
The cool breeze brushes my cheeks,
Taking my mind, miles away!
But soon the clouds will disappear
And the sun will burn again.
From dreamland to the world of reality
I will have to run again!
And yet I can hear it beat loud!
Like the sun which I know is there,
But hidden behind the cloud!
The sun is lost... And so is my heart...
And the weather seems so gay!
The tiny drops fall on the ground,
Washing all sorrows away!
My heart is lost... And so is the sun...
And my life seems so gay!
The cool breeze brushes my cheeks,
Taking my mind, miles away!
But soon the clouds will disappear
And the sun will burn again.
From dreamland to the world of reality
I will have to run again!
Wednesday, March 12, 2008
Increased respect towards Sir Tendulkar!
In India today, cricket is a very "high valued" sport. I am not a cricket fan solely because I feel cricket is too hyped a sport.
Sachin Tendulkar has been one of the best players of cricket history. Infact, "Sachin" has become a synonym of cricket. And inspite of all this, Sachin's poise and his humility stands out.
Isnt it weird that a simple man like Sachin is the master of such a hyped up sport?! I have always felt it to be an irony that I like Sachin but not cricket!
I wonder why other sports are not given as much encouragement as for cricket? With the cricket juggernaut, all other games are getting sidelined. Some months ago, hockey players had protested about why cricketers were given so much acknowledgement after winning the Twenty20, but the Indian hockey team victory was sidelined?
Today, the Indian hockey team could not qualify for the Beijing Olympics. "Why, what went wrong": is another topic of discussion. But what I want to highlight here is, Sir Tendulkar has come up and is urging people at this time of hockey-crisis to support the hockey players!
Here is what Sachin has told the media:
“Do not run them down. This is the time all Indians must encourage and support the players. Once you fall, it’s important to get up. There will be stumbling blocks in sports. The players will get up and we must give them our helping hand. As a nation we need to be with the players. One must also recognise the fact that the players must be feeling the disappointment much more than anyone else.”
This has increased my respect towards Sir Sachin Tendulkar!
Sachin Tendulkar has been one of the best players of cricket history. Infact, "Sachin" has become a synonym of cricket. And inspite of all this, Sachin's poise and his humility stands out.
Isnt it weird that a simple man like Sachin is the master of such a hyped up sport?! I have always felt it to be an irony that I like Sachin but not cricket!
I wonder why other sports are not given as much encouragement as for cricket? With the cricket juggernaut, all other games are getting sidelined. Some months ago, hockey players had protested about why cricketers were given so much acknowledgement after winning the Twenty20, but the Indian hockey team victory was sidelined?
Today, the Indian hockey team could not qualify for the Beijing Olympics. "Why, what went wrong": is another topic of discussion. But what I want to highlight here is, Sir Tendulkar has come up and is urging people at this time of hockey-crisis to support the hockey players!
Here is what Sachin has told the media:
“Do not run them down. This is the time all Indians must encourage and support the players. Once you fall, it’s important to get up. There will be stumbling blocks in sports. The players will get up and we must give them our helping hand. As a nation we need to be with the players. One must also recognise the fact that the players must be feeling the disappointment much more than anyone else.”
This has increased my respect towards Sir Sachin Tendulkar!
Monday, February 11, 2008
It Doesnt Interest Me
A wonderful poem written by Oriah Mountain Dreamer.
It doesn't interest me what you do for a living. I want to know what you ache for and if you dare to dream of meeting your heart's longing.
It doesn't interest me how old you are. I want to know if you will risk looking like a fool for love, for your dream, for the adventure of being alive.
It doesn't interest me what planets are squaring your moon. I want to know if you have touched the centre of your own sorrow, if you have been opened by life's betrayals or have become shrivelled and closed from fear of further pain.
I want to know if you can sit with pain, mine or your own, without moving to hide it, or fade it, or fix it.
I want to know if you can be with joy, mine or your own; if you can dance with wildness and let the ecstasy fill you to the tips of your fingers and toes without cautioning us to be careful, be realistic, remember the limitations of being human.
It doesn't interest me if the story you are telling me is true. I want to know if you can disappoint another to be true to yourself. If you can bear the accusation of betrayal and not betray your own soul. If you can be faithless and therefore trustworthy.
I want to know if you can see Beauty even when it is not pretty every day. And if you can source your own life from its presence.
I want to know if you can live with failure, yours and mine, and still stand at the edge of the lake and shout to the silver of the full moon, 'Yes.'
It doesn't interest me to know where you live or how much money you have. I want to know if you can get up after the night of grief and despair, weary and bruised to the bone and do what needs to be done to feed the children.
It doesn't interest me who you know or how you came to be here. I want to know if you will stand in the centre of the fire with me and not shrink back.
It doesn't interest me where or what or with whom you have studied. I want to know what sustains you from the inside when all else falls away.
I want to know if you can be alone with yourself and if you truly like the company you keep in the empty moments.
It doesn't interest me what you do for a living. I want to know what you ache for and if you dare to dream of meeting your heart's longing.
It doesn't interest me how old you are. I want to know if you will risk looking like a fool for love, for your dream, for the adventure of being alive.
It doesn't interest me what planets are squaring your moon. I want to know if you have touched the centre of your own sorrow, if you have been opened by life's betrayals or have become shrivelled and closed from fear of further pain.
I want to know if you can sit with pain, mine or your own, without moving to hide it, or fade it, or fix it.
I want to know if you can be with joy, mine or your own; if you can dance with wildness and let the ecstasy fill you to the tips of your fingers and toes without cautioning us to be careful, be realistic, remember the limitations of being human.
It doesn't interest me if the story you are telling me is true. I want to know if you can disappoint another to be true to yourself. If you can bear the accusation of betrayal and not betray your own soul. If you can be faithless and therefore trustworthy.
I want to know if you can see Beauty even when it is not pretty every day. And if you can source your own life from its presence.
I want to know if you can live with failure, yours and mine, and still stand at the edge of the lake and shout to the silver of the full moon, 'Yes.'
It doesn't interest me to know where you live or how much money you have. I want to know if you can get up after the night of grief and despair, weary and bruised to the bone and do what needs to be done to feed the children.
It doesn't interest me who you know or how you came to be here. I want to know if you will stand in the centre of the fire with me and not shrink back.
It doesn't interest me where or what or with whom you have studied. I want to know what sustains you from the inside when all else falls away.
I want to know if you can be alone with yourself and if you truly like the company you keep in the empty moments.
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