postaday2011 | wealthymatters

5 Rooba(5 Rupees)

July 17, 2011 Leave a comment

wealthymatters.com I happened to watch this movie today. Quite a few people recommended it to me.It’s a really short flick at 7 minutes.Here’s a link to it:

http://www.facebook.com/video/video.php?v=1970751271115.

Personally I felt really sad watching it.I was struck by how differently well-to-do parents interact with their children.The movie might be realistic and show pretty much what happens in real life.But why not change our reality by changing our behaviour? Read more of this post

Filed under Theory, Tidbits Tagged with bargain, delayed gratification, live with loss, live with the consequences, postaday2011, RandomBlog2011, saving, seeking value, teach bargaining, teaching children about money, teaching finance to children, think about money making ideas, value for money

About Your CIBIL TransUnion Score

July 17, 2011 12 Comments

The CIBIL TransUnion Score is India’s first credit score for individuals.It is a three-digit numeric summary (ranging from 300 on the lower side to 900 at the higher side) of a consumer’s credit history, compiled from information received from lenders who are members of CIBIL. The model followed by CIBIL predicts the likelihood of an individual missing more than three payments on a credit line over the next 12 months. For the last few years banks have had exclusive access to this score.Now individuals too can access their CIR and credit score for Rs450.

To understand the impact of the CIBIL TransUnion Score on an individual’s loan application we need to take a look at the table below.It shows loans sanctioned by loan providers based on an individual’s CIBILTransUnion Score in 2008 and 2010.

wealthymatters.com Read more of this post

Filed under Theory, Tool Kit Tagged with CIBIL, CIBIL TransUnion score, credit history, credit score, debt burden, EMI to income ratio, EMI/income, Income, internal credit policy, length of credit history, loan application, loan approval, new credit, outstanding debt, payment history, postaday2011, RandomBlog2011, TransUnion, utilization of credit

How to improve your CIBIL CIR ?

July 17, 2011 4 Comments

wealthymatters.com

Your Credit Information Bureau (Cibil) credit information report (CIR), other than your income, is the single most important tool used by a lender to evaluate your application for any loan or credit card application. So, it’s important to understand how to improve your CIR, so that it is viewed favourably by lenders .Here are some basic rules to improve your CIR: Read more of this post

Filed under Paper Assets, Theory, Tool Kit Tagged with auto loan, cheap loans, CIBIL, CIR, cosigned, credit card loan, credit cards, credit hungry, credit limit, credit report, current balance, evaluating loan application, expensive credit, healthy mix of credit, home loan, improving your credit report, joint account, late payments, loan application, loan approval, loan settlement, low balance, negligence, non payments, outstanding debt, postaday2011, RandomBlog2011, sanctioned amount, service debt, unused credit card, write off

Decoding your CIBIL CIR

July 17, 2011 11 Comments

wealthymatters.com If you have just bought your CIBIL credit report and need some help understanding it or if you are considering forking out for one and want to know what you will get,the following write up is for you:

Here is the information found on a CIBIL CIR:

Payment history

Days Past Due (DPD) appears in the account(s) section of your CIR. It appears with one other piece of information — the month and year of payment. DPD indicates by how many days a payment on that account is late that month. Anything other than ‘000’ is considered negative by a lender. Up to 36 months of this payment history (with the most recent month displayed first) are provided in this section. Read more of this post

Filed under Paper Assets, Theory, Tool Kit Tagged with CIBIL, CIR, collateral, credit, credit history, Credit Information Report, credit report, current balances, current income, days past due, doubtful loan, DPD, EMIs, extent of debt, fees, financial obligations, free copy of CIR, late payments, loan approval, loan sanction, loans, loss, new credit facilities, payment history, postaday2011, RandomBlog2011, RBI asset classification norms, reputational collateral, standard loan, substandard loan, uncollectable

The Temple of Gold

July 14, 2011 2 Comments

wealthymatters.com The Sripuram Mahalakshmi temple is my new find for the day.I heard about it on the TLC show ‘Oh My Gold-OMG’.The pictures are stunning.I plan on visiting the place on my next visit down South.

The temple is supposedly located on 100 acres of land and has been constructed by the Vellore-based Sri Narayani Peedam, headed by spiritual leader Sri Sakthi Amma also known as Narayani Amma.Sripuram-Sri Lakshmi Narayani Golden Temple is supposedly the largest Golden temple in the world, with over 1.5 tonnes of gold used. All the gold work has been done by artisans specializing in temple art using gold. Every single detail has been manually created, including converting the gold ingots to gold foils and then mounting them on copper. Gold foil from 9 layers to 15 layers have been mounted on the etched copper plates. Every single detail in the temple art is supposed to have some vedic significance.

The lighting is arranged in such a way that the temple glitters at night. And the LED lighting on the ridge of the roof of the star path is lit up at night so that flights operating in that direction can witness a star on the earth.

A house of gold-a fitting tribute indeed to the Goddess Mahalakshmi!