saving | wealthymatters

Barbie Weds Superman – Wedding of the Century !

December 23, 2015 2 Comments

wealthymatters Last night I heard confirmation that Team 2 (consisting of myself and fellow IndiBloggers Akshay Iyer, Leena Singbal, Vanessa Rowe, Subham Singh, Bikash Bhandary, Prashant Kharkhera, Aditi Pathak, Mohit Chabria, Chirag ) had been judged a winner of the Ad Mad Event at ‪#‎Flipkartkids‬ for our improv perfomance: “Barbie Weds Superman – Wedding of the Century !”.

And the judge was no less than Ace Adman O&Ms Piyush Pandey!(intelligence as per the person shooting the official video.)

Yay !

I played Masoom 05151 and anchored the show we put up. And ‘Barbie Weds Superman – Wedding of the Century !’, is probably how I will always best recall last Saturday’s ‪#‎Flipkartkids event.

Hopefully I can track down photos or even the official video of our performance. IndiBlogger founders and crew can you help?

I initially attended this event to launch Flipkart Li’l Stars – India’s Biggest Online Kids Store, to get some insight into how I could invest in the “Toy Story”. After all we are now an increasingly young nation with a lot of children and parents who are more aware than ever before of toy trends world-over. Moreover we now have greater means to indulge our children. So there must be money to be made in the situation. And I had heard that people from Disney, Mattel and Chhota Bheem were to attend the event. Read more of this post

Filed under Tidbits Tagged with analyzing trends, ‪#‎Flipkartkids, budgeting, cyclical business, demand projection, derisk, e-commerce, Fake, financial education of children, financial intelligence, Flipkart, Flipkart Li’l Stars, India’s Biggest Online Kids Store, Indian Trader, inventory risk, Investing, investing in toys, monopoly, Piyush Pandey, postaday, saving

Dodging A Haircut

July 18, 2015 8 Comments

wealthymatters There are always going to be ants and grasshoppers. Unfortunately, after the grasshoppers have partied a country to the brink,on the day of reckoning, the ants will pay the price, for the grasshoppers have nothing to pay with. Savers pay when governments keep interest rates artificially low, savers pay when inflation eats away at the value of their savings and savers pay when currencies are devalued. It is harder for prudent ants to influence governments and society because saving and investing, to progress in an orderly manner, over a period of time is so unsexy. It is far easier to fall for the glamourous visions of grasshoppers that involve great expenses today, often borrowed, to ensure a many great parties tomorrow, that will be no big deal to pay for, given greater earnings in future.

The only recourse left to ants is to disconnect from the dominant ideas of the day and continue doing what their good sense tells them to do. And one skill that they had better cultivate, is to side-step the force that governments of grasshoppers can legitimately bring to bear. Read more of this post

Filed under Theory, Tool Kit Tagged with Ant and the Grasshopper, Cyprus, financial prudence, Greek Crisis, haircut, postaday, put spending on credit cards, saver, saving

The Unglamourous Way

May 16, 2014 Leave a comment

I am now a multi-millionaire, and I have never had my own business, invented anything or inherited one red cent. What I have always done is paid myself first. Especially in your twenties, max out your retirement deductions, or at the minimum put in an amount that maxes out your company match. The money I contributed in my twenties now accounts for ⅔ of my net worth, even though I contributed much more each year in my thirties and later. Such is the power of compound interest!

I never spent much on items that depreciate, such as cars, boats, RV’s, etc. Now I am at a point where I can drive what I want.

Keeping up with your family, friends and neighbors in terms of what they buy, and where they vacation is a sure way to an empty bank account. Keep in mind that many of them live beyond their means, and paycheck to paycheck.

I know this is boring, however not everyone is special in their earnings potential. But anyone can end up wealthy if they follow my advice.-Alan Hamilton,Age 56

Filed under Theory, Tool Kit Tagged with depreciating assets, earnings potential, how to become a multimillionaire, keeping up with the Jones, living paycheck to paycheck, multi-millionaire, postaday, power of compounding, saving, Wealthy

The Richest Man In Babylon

December 24, 2012 2 Comments

‘The Richest Man In Babylon’ is a book by George Samuel Clason,first published in 1926, which teaches simple lessons in financial wisdom through a collection of parables set in ancient Babylon.

The book is well deserving of its status as a personal finance classic and is an extremely easy read both for adults and children.The parables have the power to make an indelible impression on the mind and teach lessons for life.I feel the book should join all the childhood classics such as Cinderella,Sleeping Beauty,Snow White, Aesop’s fables et al. After all it is so much easier and fun to learn financial wisdom from parables than through bitter experience.

Copies of the book can be bought online and in book stores easily and they make excellent gifts.It is also an excellent title for your personal library.Alsoyou can get free copies legally as it is off copyright.Here is the link to a free copy.

The following are my favourite excerpts from the book:

“…a man’s wealth is not in the purse he carries. A fat purse quickly empties if there be no golden stream to refill it. Arkad has an income that constantly keeps his purse full, no matter how liberally he spends.”

“Thou makest me to realize the reason why we have never found any measure of wealth. We never sought it. Thou hast labored patiently to build the staunchest chariots in Babylon. To that purpose was devoted your best endeavors. Therefore, at it thou didst succeed. I strove to become a skillful lyre player. And, at it I did succeed.” Read more of this post

Filed under Entrepreneurship, Paper Assets, Theory, Tool Kit Tagged with book review, George Samuel Clason, How To Lend Money, personal finance classic, personal finance for kids, postaday, quotes from The Richest Man In Babykon, saving, teaching kids about money, The Five Laws Of Gold, The Richest Man In Babylon, The Richest Man In Babylon Free Copy, The Richest Man In Babylon pdf, wealth

John D. Rockefeller – The Man Who Gave Away Shiny New Dimes

June 2, 2012 35 Comments

John Davison Rockefeller (July 8, 1839 – May 23, 1937) was an American industrialist and philanthropist. In 1870, he founded the Standard Oil Company and aggressively ran it until he officially retired in 1897. As kerosene and petrol grew in importance, Rockefeller’s wealth soared and he became the world’s richest man .His wealth was estimated at $900 million in 1913, equivalent to $189.6 Billion today. This is more than the riches of Bill Gates, Warren Buffett, and the Walton family combined! He was the first American billionaire. Adjusted for inflation, he is often regarded as the richest person in history.

Rockefeller came from humble, meager beginnings.He was born to traveling salesman William Avery Rockefeller and his wife Eliza. John D. Rockefeller was the second-born child; he had five siblings. His mother was thrifty by nature and necessity.He learned his penny-wise ways from his mother’s old saying: “Willful waste makes woeful want.“As a youth, Rockefeller reportedly said that his two great ambitions were to make $100,000 and to live 100 years. Read more of this post