Thursday, February 7, 2008

How India Earns, Spends and Saves

I found many interesting points in this article ..

Few like -

  • India saves but does not invest
  • India saves for long-term goals such as emergencies, education and old age.
  • The average household savings are Rs. 16,139 (is that true?? show me the moneyyyy)

And few scary one's...

  • Financial vulnerability is not limited to poor households; even prosperous households are financially vulnerable.
  • Wise savers but unwise investors
  • The study found 96 per cent of the households cannot survive beyond a year on their current savings in case of loss of income due to some eventuality such as death or disability of the chief earner.

Read the full survey here.

Your kids don't need life insurance

Amazed by the heading of the article itself ??!!
Someone might be thinking .. so why so many insurance pushing for it ?!!
Well, I would say, our judgement should be based on what we need rather than what they want to sell ...
humm.. now it makes sense!!!
Don't be misled by advertisements promising a high cash value for a small premium. There are better steps you can take to secure your child's future says Money Magazine's Walter Updegrave.
Read on..