In Search of the Way to Save

Looking to the stars - Calvin & Hobbes

Personal finance is personal. Rule-of-thumbs may be a good start, but it surely isn't for everyone. I certainly have my own way to budget, and out of all the apps I've looked through to help me, not one found to be a perfect fit. I then stumbled upon an iOS app, earmark. It's a social saving-spending app for you to set the top five things you'd like to buy and share it with everyone, including status updates when you forego spending to save for said five items. Pretty neat.

Three things I like about this:

1. Clarity. It would help me take a step back and remind myself that I have saving goals to achieve. In moments of need of clarity, I think this app would help me when my mind start playing the justifying-a-purchase games.
2. Motivation. We are social beings and our motivations sometimes require that social interaction. "Not buying this for that trip, proud of myself", and then receiving a supporting reply from a friend, "you go girl! let's make it to Makkah". Seriously, saving for hajj is hard...
3. Communication. Sometimes other people make our personal spending plans. Hanging out, do this, eat that. Those things add up.When we make it known to friends we're saving for something, it makes communicating personal intentions and rejecting an offer a lot easier.
4. Behaviour. People get easily hooked on social media outlets. If we get hooked on the app, we get hooked on our goals, we will achieve it.

What I don't like, but they might actually be right, is;

"We hate budgeting. 

So does everyone, ever.

We hate budgeting. So does 99.9% of the population.

We also like spending money. So does 100% of the population. 

Earmark helps people who hate budgeting save money while spending it."

I like that I've set myself a budget. It's life changing. But I guess for those who haven't, this app might actually work. For myself. I don't know. I don't have an iPhone. What I'm interested in most is whether I can apply earmarking [designate (something, typically funds or resources) for a particular purpose.] for myself.

So, what I'm proposing to do is to:

1. Unify my goals. I'm going to follow the findings that people become better savers when they have a single goal (pdf link). So I'll unify a single goal to the items I'd like to buy with a goal of higher calling or a long-term based goal like retirement.
2. Partition. Increase the chance of success of earmarking by separating the money physically, especially if the money has a visual reminder (pdf link). So, create a custom printed wristlet, or wallet (2), with a picture as my reminder.

Now, if I have a wallet for zakah, what are my visual cues...

"Is the description of Paradise, which the righteous are promised, wherein are rivers of water unaltered, rivers of milk the taste of which never changes, rivers of wine delicious to those who drink, and rivers of purified honey, in which they will have from all [kinds of] fruits and forgiveness from their Lord, [...]"

47.Surat Muĥammad (Muhammad; 15)

"He will forgive for you your sins and admit you to gardens beneath which rivers flow and pleasant dwellings in gardens of perpetual residence. That is the great attainment."

61. Surat Aş-Şaf (The Ranks; 12)

One way ticket to Jannah. Insha'Allah.

6 ways to bag that job which you want!

Checked out an interesting job application on iimjobs?
Applied?
What do you think are your chances?

A recruiter or a head hunter might get anywhere between 200 and 2000 applications for a single middle level position.
Which means your chances are between 1 out of 200 and 2000.

• 1 out of 20 applicants get into Harvard  (Source: http://tinyurl.com/qjd6brk)
• 1 out of 200 applications get into an IIM (Source: http://tinyurl.com/lujvlam)

Theoretically, you have a better chance of getting a seat in Harvard or even an IIM rather than that job which has more than 200 applications!


Here are a few ways that can improve your chances:

a) Quantify your achievements: In our resume, most of us state that we increased revenue or decreased cost. Or worked on that project that was praised by leadership. How about including some numbers? Rather than stating your got more customers, you could write that you increased revenue by 500%. Obviously, this is assuming that you DID increase revenue by 500%. This is because your customer count might have just increased from 50 to 80. But the overall business from new customers would have increased by 500%.

b) Include a cover letter: I had once noticed a Head of Digital Marketing of one India's biggest blue chip companies bemoan the fact that less than 5% of applicants had included a cover letter. And he wasn't going to consider those without a cover letter. So there! 95% of competition is out!

c) Complete your Linkedin Profile: Here is a simple question. What do you do when you are introduced to someone? You immediately check their Linkedin profile. Dont you think the recruiter would also be doing this? Linkedin also enables you to directly apply to jobs with your Linkedin profile. So update it!

d) Brand YOU: Today you need to inform the world two things - What you know and Who you are. Use Twitter, Facebook and Blogger (or Wordpress) to share your views with the world. It could be about anything. Treat your digital profiles as a brand. If you are an accountant, I am sure you must be thinking 'What the hell? How can social media help me out?'. Well. Write about your subject! Or your passion. If you are stuck at a boring dead end job, this could also open up avenues!

e) Ask!: Many of us don't ask! We don't let our well wishers know that we are looking out. So just ask for help.

f) Stay connected: Remember meeting the Head of HR of that MNC in that conference in Bangalore? You even exchanged cards! Linkedin also notifies you about his birthday. Do you call to wish him? If you dont, then start doing it. Your greetings should be genuine. But an opportunity might just knock your door!


Meanwhile in USA,..



(Source: http://tinyurl.com/plt8tcu)


You can also join http://tinyurl.com/plcqeow for checking out career opportunities! 

A fanboy's review of the Moto E

Why do I like the Moto E?

And why would I recommend buying it?

Reasons are simple:

Price: I feel like this if I need to buy a phone priced at more than Rs 9,000

(Source: http://funnyjokesandsmss.blogspot.in/2011/01/share-khan-lkg.html)

The Moto E costs just Rs 6999 on Flipkart

Body: The build and feel of the phone is very premium. You will feel as if you are holding a phone worth Rs 15,000

Android OS (Kitkat): Best OS ever. Intuitive and Robust. 

Updates: Just be at a place where you have Wifi Connection and enable the phone's wifi. All your applications will keep getting updated.

Gorilla Glass: This is a boon for those of us who are clumsy with our phones. The glass won't crack. Period

Check out a video review of this phone here

Two cons are that the camera sucks and it is really hard to remove the cover! :(

3 future trends in digital marketing

Hello there!

I foresee the following trending in the Indian digital marketing industry very soon:

a) Infographics:

It is always better to show an infographic than to define one
This is an infographic:


(Source: http://infographicality.com/category/beautiful-infographics/page/4/)

I feel companies from the BFSI industry and Real Estate industry will find infographics useful.
This is because both sell products belonging to high involvement category.

Some of the benefits of infographics are:

a) Complex pieces of information is presented in a beautiful visual manner
b) Individuals spend a lot of time on infographics
c) Infographics can be promoted through various channels
d) First mover advantage: Not many brands in India are using infographics


b) Content marketing:

Just read this to understand ROI delivered by content marketing
Everybody loves to read a story.
Make sure you write an interesting one!

c) Review Videos:

I entered a search term in the Youtube search bar: Unboxing videos flipkart
Check out the top results: https://www.youtube.com/results?search_query=unboxing+videos+flipkart

None of these videos belong to Flipkart!

Eventually many brands would want to create video content exclusively for Youtube.
Although, presently, several are advertising on Youtube.

Just imagine the response that a crackling review video can get.
Check this

2 lakh + views and increasing.
Let us assume one percent is driven to the website.
2000 visits to the website and increasing.

With expert help, a video like this can be created for Rs 30,000.

This means you are paying Rs 15 per click (on the higher side)

And this number will keep decreasing over  a period of time as people keep coming back to watch videos and the reach of a popular video keeps increasing.



Do let me know what you think!



Source: http://becuo.com/happy-pigs

How to buy a car in 2 days

Last month I embarked on the car buying journey. Like any newly minted MBA graduate, I came prepared and ready to negotiate.

My criteria were pretty straight forward: small, four-door, hatchback, excellent gas mileage, reasonably priced.

Initially my boyfriend and I were going to buy the car together. We researched our options online...and also asked our Lyft driver for recommendations.

She suggested we download the app: TrueCar.  We did and we were super stoked about it at first. But, after a while the dealerships just bombard you with quotes.  If you have very specific criteria, this app can help you find the best dealer in the area. But, if you're more flexible and looking for the best deal, it's a little overwhelming.

All in all it helped in the research stage, because we could quickly get estimates on car prices throughout the Bay Area. However, we did not end up using it to make our final purchase.

The first day of actual car shopping was brutal...and not necessarily because of the dealerships. Mainly because when it came down to making a decision, we were not on the same page: I wanted automatic and my boyfriend wanted manual.

We would sit down with a sales guy having discussed our walk away point and our BATNA (best alternative to a negotiated agreement) beforehand. I would pull up my handy dandy spreadsheet. Here's a screenshot for reference (very useful for figuring out what package you want to negotiate):

[This spreadsheet will help you calculate monthly payments if that's most important to you, but also break down in total what you're paying in interest and principal. This helped me decide that I wanted to pay more now, so I have less interest to pay all together.]

But, then we wouldn't be able to commit because we couldn't get the price we were targeting. Now our target was pretty low for the type of car and features we wanted.

On the first day we passed by a used 2011 Ford Fiesta for $10,899 that caught my eye because it was in great condition and well priced. Finally, when we couldn't come to an agreement on the new ford cars, I decided to go for the used car on my own if I could negotiate a lower price, which I did!

So to recap, in order to buy a car in 2 days: do thorough research beforehand, figure out your budget, and commit.

How to become wealthy with just Rs 5 lakhs

Imagine.

No, I am not referring to the song by John Lennon.

But imagine that you have Rs 5 lakhs with you and you are 30.
The date is 28th October 2004.

And suppose one of the following happens to you:

a) Prison

You are thrown in prison for 10 years.
You stay in for 10 years.

Possibly because of the following:




(Source: http://www.funnyjunk.com/funny_pictures/4205323/How+do+you+remember+your+name/)


Or


b) Paralysis

Not sleep paralysis:



(Source: http://thefunniestpictures.com/2014/04/18/ever-had-sleep-paralysis-thats-some-scary-shit/)

But like:

(Source: http://www.theguardian.com/tv-and-radio/2013/dec/09/stephen-hawking-brief-history-mine-tv-review)


Or


c) Renunciation: You decide to renounce the world and become a holy person. You would be living on alms and doing this to pass time:



(Source: http://www.theguardian.com/commentisfree/2010/aug/27/gap-year-india-glorified-holiday)


Then suddenly.
At the age of 40.
You either are released or regain your abilities or have a change of heart and want to join civilization.

So do you start from scratch?

Since you could be feeling like this:



(Source: http://www.repaydebt.org/e-cards/i-am-having-an-out-of-money-experience)


But what if I say, you would be worth atleast Rs 1 crore 55 lakhs 70 thousand!
And earning an income of Rs 3 lakhs plus just in FY 2014-15

Unbelievable?

This is assuming you would have invested Rs 5 lakhs in ITC on 27th Oct 2004 and held onto them.
Back then the share price opened at Rs 36.27 (adjusted for splits and bonus).
The share split 10:1 and also offered bonus of 2:1 on 21st Sep 2005.
It again offered bonus of 1:1 on 3rd August 2010.

All this by just staying invested in ITC.
You wouldn't have even had to do a lot of research to know about the company.
ITC touches almost every aspect of one's life.
Advertises so much that only a most ignorant person wouldn't be aware of its existence.

This is the magic of compounding and long term investing!

How to Handle All Your Bookkeeping Needs Easily

When a business needs Calgary bookkeeping help, they must make sure they are working with a company that can provide help with the accounting.

A company does not have to hire a full-time staff to handle these items because they can hire an outside company to take care of their books. The preparation of financial statements Calgary companies do can be handled outside the office, and they will be handed in to the office manager or owner every week.

When these companies are handling the books, they can also provide tax documents to the client. The tax documents that they provide make it easy for the business to handle their taxes at the end of the year, and the business will be able to commission all the documents they need to make sure they do well at an audit.

A business that does not have time to handle all its own finances needs to be sure that it is hiring someone to handle the books. The best way to get the books taken care of is through an independent firm that knows how to handle the accounting. They use professionals who can prepare all the financial documents for the business properly every week of the year.