One day I was shocked when Frieda told me that she has INR 3.5 lacs in her savings bank account. My first reaction was Why are you losing money, she was bemused and said can you make sense ?

I replied “why you need so much money sitting in bank account and earning 3.5% p.a, while prices in India are increasing at 8-10 % every year” ( Yes I am talking about Inflation) So by parking your money at 3.5% your actually are on losing side.

So how much is enough ?
And what should I do with rest ?

Good Question but difficult to give one generic answer, it depends upon our comfort level. For me if I have next 15 days Expenditure in my bank account I am OK ( Being Risky guy and pretty sure that I won’t be fired from my current job 😀 ) But as thumb rule don’t keep more than 3 months expenditure in savings account if you have constant and predicable monthly cash flow. ( Your are salaried employed in plain terms)

Tricky one is other part What should I do with Extra balance, for Conservative and new Investors like Frieda its … Read the rest

Pic Source: http://www.psdgraphics.com/file/credit-card.jpg

Credit card doesn’t figure on our list when we want to make money, Does it?

For some it is plastic convenience while others dread it, however smartly used. We can generate some extra money from it. A simple case will make things easy to Understand.

My Friend Freida (Not Pinto 😀 ) has monthly household grocery expense of Rs 10000.00 and she usually uses cash/debit card for purchases. The moment she swipes money is out from her bank account.

Can she be a smart shoppers (all women are :D)
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Yes,
Say if she has a credit card with Billing date of say 5th of every month and payment date … Read the rest