Tax free wealth

LATELY, I have been thinking a lot about the Lehman crisis . Spending money that they didn't have and going beyond their means is one of the main reasons for their situation today. In fact that is the cause for the current economic crisis in the US.

When I see all this happening, I can only remember the good old days. Then, karz was bad. People looked down upon those who took loans. Parents would not give their daughter's hand in marriage to a man with loans.

But of course, the times have changed now. Everyone I know has a loan. The buzz word is EMI (equated monthly installment). Today, you can buy everything on EMI - a house, a television, even an i-Pod. In fact I know of someone who just bought a fancy BMW 3 series on EMI, instead of buying a cheaper car outright with cash. I mostly prefer to take public transport, but then I am an old man with old thoughts!

Anyway, coming back to what caused the crisis. Imagine having Rs 2 lakh in your bank account, no regular income, yet buying a house worth Rs 65 lakh, in the hope of selling it for a higher price. Even if the price of the house fell by just 5 per cent (that is Rs 3 lakh), you will go bankrupt. This is what Lehman Brothers did; with around USD 20 billion they went and bought assets worth over USD 600 billion. Isn't it suicidal and simply foolish?

I am sure things would have been different, had I been the head of Lehman brothers. But who wants an old conservative man like me to head a complex financial institution.

But there are a few lessons that we can learn:

1.Live a balanced life and avoid overspending.

2. Don't buy things we don't need.

3. Don't buy Branded goods.

4. Don't buy excess Food, Cloths, Cosmetics, Footwear, electronics and Fashion accuracies
just think before you buy.
Tip: World still has a lot of growth ahead and the future holds immense opportunities for us. Let us make the most of it and save and invest it wisely instead of wasting our precious little on things we don't need.

5. Try to balance life with work (No one is happy to work in their professions).

6. Don't stress out yourself, after work try to do some extra activities like swimming, yoga, walking, running where you can divert your mind from stress.
A thumb rule: Health is more important than money.

7. Try to understand each other (Wife and Husband) in financial matters and help each other.

Tip: As soon as you get your monthly salary, set aside a fixed amount, usually 35 per cent, for insurance, savings and investments. You can then spend the rest.

8. Not all loans are bad. Loans that are 'need based' (home loans, education loans) can always find a place in your finances against those that are largely 'want based' (Credit cards, personal loans, car loans).

9. Borrow only if repayment is financially comfortable.
A thumb rule: Keep EMIs within 35 to 45 per cent of your monthly income

In that respect, there is one American who I really respect - Warren Buffet. He has lived in the same ordinary house for over three decades, drives his own medium sized car and leads an extremely regular 'middle class' life. If that's all it takes for the richest person on earth to be happy, why do all of us need to take extra stress just so that we can get things which aren't even essential?

Health is Wealth Its Tax Free...

Free Voip Phone calls with Nexus123‏

Today's we will be discussing about another voip provider "Nexus123". The key part about Nexus123 is that, it is offering free 10 minutes of free voip phone calls to anywhere in world. Yes, you can make 10 minutes free voip phone calls.

When some voip provider offer free minutes, the best part is that it can be used for making free calls to destinations which have very high calling rates. Some African and Asian countries where calling rates can also be called using Nexus. (Calls to Cuba will last for 3-4 minutes, actually calling rate to Cuba is very high).

Nexus123 Saver from Nexustel is a service that will allow you to make long distance calls from your cell phone or any phone you want. Most importantly, there is no need to dial an access key or PIN so you will save time.


To get your free 10 minutes,

1. Visit Nexus123, fill your details. You need to enter your correct phone number, email address. I am not sure if it is only available to people living in USA and Canada. However, calls can be made to any part of world.

2. Check your email and click the confirmation link in order to verify your email.

Your free account is active now. To make free calls you need to dial the access number. A list of access numbers can be found on Nexus123 website.

No need to pay anything in order to get free minutes.
No credit card required to register for free account.
No maintenance fees or hidden charges of any kind.