How to Fight inflation : 2



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4 } Stop waste of money : 
There are many things which we buy without intend to use it also. which just attract you and you feel that you can fit it some were but turned up in to just adding on the unwanted items.
normally it happens with me also when i go to malls. so in this time it is important to note down what we want to buy & stick to that list.

5} Car pooling :
This is a option which you can look in to reducing your expenses. There are few car pooling options available in some cities. you can exercise this option to commute to office daily .


6 } Investments :

Don't sit on the investments which are not performing take a review of the situations and come out of the investments which are continuously under-performing. Don't keep out any amount idle, try to use every single rupee to yield you the returns. 

7 } Be ready to encash long term investment opportunities :
Normally it happens with every body that we keep on putting hard on the things which are out of our control & may miss the opportunities. 
This is a turbulent time for the economy as a whole , all companies are under pressure the market attractive for investments with long term perceptive. take this opportunity to invest it on long term goals wisely. your today's decision may give you good returns in long run, but be prepared for short term loss if any.

8 } Prepare your financial plan : 
Prepare your financial plan which will give you the whole picture of your life cash flows, this will help you to visualize where you are heading & in taking immediate corrective actions, also help you to know about if there going to be a problem or not in future.

How to Fight Inflation ? part 1

How to fight Inflation :

(a good photo on web )

The inflation in India is growing day by day and it had taken a very steep rising curve in last few months. To control this inflation Central bank is rising the repo & reverse repo rate like anything it has risen the rates eleven times and by 375 basis points till since from last 18 months.

What is the result of this ? do there is a control on inflation ? answer is BIG NO !

But yes one result is there it had made a very big impact on the common man in India. For almost s to everything from food to Petrol now he has to pay more money . The basic necessities like Food, Clothes & home is becoming costlier for him. Let’s not get in to the details how it had happened & why it had ?

The main question is to Fight this out because now this is a survival game.

How you can to fight inflation ?

There are two well known ways to fight with inflation .

1.       To earn more  ( How???? )

2.       To spend less   ( Compromise ?????  )

Can we think of any other thing which can be a better option to the above two ?

Yes there is a option & that is planning .

If you really want to fight inflation & be Financially successful then you have to plan you finances.

How you can plan your Finances ?

1}Protect your existing asset : You have to protect your existing asset from getting eroded by unforeseen events, so first comes the protection. Have a sufficient Medical cover to your family to take care of medical expenses which can occur any time without informing you & can give you a big hit in this highly inflationary environment.

If you are a family of four belongs to Middle class with yearly income between 5 lac to 7 lac Family  floater medical policy SA 300000/- is recommended. If the income is above to this then increase  the cover as per your income.

Should have a contingency fund to take care of unexpected eventualities. The pressure on corporate  is also increasing due to high interest rate Debt .

Have a sufficient life cover .

2 } Pay off the loans which are at higher interest rate : There are very few fortunate people who had opt for Fixed rate of interest rate for housing loans 50 basis point more than rate of 7% at that time . Their bet in today’s time turns on their way. But for rest it is like a nightmare, it may not be possible every time to pay off the loans one shot but you can surely make a plan to increase your EMI and link it with increase in Payment. The one which have less tenure & have higher interest rate should have to be settled first.

3 } Stop using credit card : Credit card normally induce impulsive buying . keep Credit card away from your pocked will save you from unnecessary expenses & also can save you from unexpected Debt trap.

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