postaday | wealthymatters

How Much Of A Clothes Horse Are You?

August 5, 2013 Leave a comment

wealthymatters Nearly 35 per cent of young men and women in urban centres of India spend Rs.5,000 per month on clothing alone, according to a survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).The survey included respondents from the following 10 cities : Delhi, Mumbai, Kolkata, Bangalore, Chennai, Hyderabad, Lucknow, Ahmedabad, Jaipur and Chandigarh

People from Delhi spent the most on clothes and 55 per cent of them said their budget for shopping for clothes exceeds Rs.5,000 every month. About 25 per cent said they splurge between Rs.2,500 to Rs.3,500 on clothes every month and about 20 per cent of Delhiities said they spend between Rs.1,500 to Rs.2,000 on apparels per month.

Also interesting is the fact that nearly 60% of the respondents admitted that their wardrobe was full of clothes they don’t wear.

So what about you?How much do you spend on clothes?Do you have a well thought out wardrobe or one filled with clothes bought on impulse?

Filed under Tool Kit Tagged with clothes budget, clothing expense, postaday, wardrobe expense

Your Goal

August 5, 2013 Leave a comment

So you’d like to be wealthy?Obviously.Otherwise why read a blog like wealthymatters?

Here is the first change you need to bring into your life.Use your income to buy assets and then use the income stream generated from them to pay for toys.

wealthymatters

Filed under Theory, Tool Kit Tagged with buy assets, generate cash flow to buy toys, income to assets, postaday

How Do You Compare?

August 5, 2013 Leave a comment

Here is an Assocham finding:

In an average salary structure of Rs 40,000 per month, the amount available for discretionary spending is not more than Rs 17,000 as average employee shells out over Rs 6,000- Rs 8,000 on housing loan or rent, Rs 5,000 loan on cars or two wheelers, Rs 7,000-10,000 on education cost and FMCG,

How do you compare?How much of your income goes to create assets?Do you buy liabilities which create more expenses in time?

Filed under Paper Assets, Tool Kit Tagged with discretionary spending, education costs, grocery expenses, housing expenses, postaday, salary, salary structure, vehicle expenses

Benefits Of Going Direct

August 5, 2013 Leave a comment

wealthymatters Here is a graphical representation of the benefits of opting for the direct plans of mutual funds.

So think twice and do the math before expecting your MF adviser to work for free.There are no free lunches and you will pay one way or the other. So do the math and see what works better for you,paying a fee to your adviser directly or expecting your adviser to be paid by the asset management company.

Filed under Paper Assets, Tool Kit Tagged with direct plans of mutual funds, investing in mutual funds, mutual fund commissions, paying your financial adviser, postaday, regular schemes of mutual funds

IndiBlogger Awards

August 5, 2013 2 Comments

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