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Lifestyle Inflation, a silent devil working against you at all times.

by primadmin
written by primadmin

We all are busy in our world and work life. As we progress in life age and income wise, we aspire for various things. All of us work hard for life time goals, long term goals and short-term goals. We look at others what they own, how they live and want all the luxury in our day to day life. Better quality of life, better living, better holidays, better gadgets, better fashion, better education, better healthcare is all we need throughout our life. While the word Better is relative, it has screwed most of our financial planning. Along with the word better, there are two more words which are working against us, Upgrade & Latest. All in this generation want Better things, want to Upgrade everything & desire for the Latest in the market. You must be wondering, what I am trying to explain? Yes, I am explaining the combination of these 3 words Better-Upgrade-Latest which means, for getting a better life we all are bound to spend more day by day and that’s know as Lifestyle Inflation.

How Lifestyle Inflation works without our knowledge?  We know economics that teaches, when a lot of people chase a few goods/services the price will go up and that’s inflation. But let’s understand Lifestyle Inflation. You are living in a small flat which is good for your living but the moment you earn more money you want to buy a big one. Youngsters may have a bike which is working perfectly but their friends have taken a new one which has more power and great looks. There is new phone launched in the market, my phone is working well but I will get great exchange for old one. There are big discounts from e-commerce sites during mega sales, there are discounts on credit cards. My friends and neighbors have gone for international trip and posted nice photos on social media with a lot of people liking it, why am I behind? All my colleagues are driving big car, I am feeling ashamed with small car, time to upgrade.  Let me buy things on Credit Card or buy this on EMI. Overspending on what we already have or what we do not need or what we can live without leads to financial misery. This is how Lifestyle Inflation works against us.

There are some needs which are must, like medication in old age, replacing old car which needs a change, painting your house as its long time now, sending kids to higher education etc. All these are must and you have to spend on these but decide how much you need spend.

How to deal with Lifestyle Inflation?  I am not asking you to be a miser but spend as per your need. Before you buy better things or upgrade things, ask yourself these questions, do you need it? Are you going to use it? Even if you have a lot of money do you need to show it to all, your net worth should be known to you and your family only. Understand the difference between your need and what you want.

If you do not deal with Lifestyle Inflation, you will not be able to be financially independent, you cannot be loan free, you cannot retire early, your post retirement days will not be happy, you cannot have good times, you cannot offer good education-health care-living space to your family which are absolute necessary, you cannot pass on good legacy to your grandchildren. In short, your life will be happy if you know how to manage Lifestyle Inflation.

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Encashing your idle assets.

by primadmin
written by primadmin

All of us have many idling assets with us. Idle assets are those things which we own but we do not use them or use them very rarely. Hence, money is locked inside these assets and the real value /power of money is not used for us at all. Some of those assets are purchased by us, some of them have been passed to us by our parents or ancestors.

Very common examples of such idling assets are :

  • ancestral bungalow/house/property which many people own but they neither stay there nor give it on rent. The property is just lying there and we hope we will get a good price someday or pass to our next generation. 
  • many people have farm house or holiday home purchased to have good time with family. But either they did not find time to go here or they go only once or twice a year.
  • people also have purchased plots or farm lands at different parts of country. They will never go for farming but they anticipate prices to go up once some development comes around in that vicinity.
  • NRIs or high-end professions buy multiple flats at every major city which are not used and are rented for marginal yield.
  • old motor vehicles (car/ scooter/ bikes) which either we purchased or use by our family members but now rarely used.
  • Many are in possession of antique watches, cameras, jewelries, luxurious sarees, furniture, arts etc. They boast of their possession but never ever have used it. Emotional attachment to these are so high that we lock value of such assets inside our wardrobes or lockers. Sometime people also spend a lot on safe keeping and maintenance of these belongings.
  • Many have also inherited shares, chits, bonds, corporate deposit certificates of unknown companies which they have never tried to find out how much money they will get out of these assets. But we are just holding in anticipation.

We do not know if our next generation will be using these assets or they will sell or let go some of them just like that.

While we have these assets with us, we look for loans outside or postpone our needs due to lack of finance. It is our laziness and emotional attachment which does not allow us to see the real usage and value of the idling assets that can fetch us really good money and we can reuse this money for betterment of our present and future.

Remember there is something called time value of money and if we take the right decision to make best use of the value of money locked inside such assets which are less useful, we can solve many of our financial problems and also grow this value of money.

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Apply your PAN Card online at the comfort of your home or office.

by primadmin
written by primadmin

PAN is an important document in India. While only taxpayers need to have this document in their possession, a lot of people need PAN if they do not have it. Now almost everywhere for starting any financial investment you must have PAN. Also, if you are starting your employment/ job, your company is going to ask for PAN. People who do not have it with them wonder how to get it. There are many authorized agencies who can accept your PAN card application at their outlets/shops. There are also many agents in the market who facilitate PAN Card and are the most preferred way for common man to get their PAN card done. But many people pay a huge sum to agents as they are unaware of charges and where to apply.

However, no need to go to agent or authorized agency outlet. Now you can apply online from the comfort of your house or office or any other place using internet. I am not talking here about e-PAN but Physical PAN which we popularly call PAN Card.

How to apply PAN Card online ?

  • You can apply either via UTITSL or NSDL. These two are authorized companies for issuance of PAN on behalf of income tax authorities. It does not matter through which of these two companies you are applying PAN, so do not think just go ahead and apply to get your PAN.
  • Select Apply for New PAN Card (Form 49A)
  • Select Digital Mode If you have Aadhaar linked mobile number and digital e-signature. Fill the Digital form and select to verify using digital signature. Follow the steps for filling details, upload documents & validate using Aadhaar/ digital e-signature. Post completion of application you need to pay the requisite fees and then submit your application. You will get an acknowledgement number by which you can track the status of issuance of your PAN card.
  • Select Physical Mode if you do not have Aadhaar linked mobile/ do not have Aadhaar / cannot verify using digital signature. Fill the online application form, upload the documents, make payment and submit your application. Here, after submitting your application you have to take print and send the physical documents via courier/post to the UTITSL or NSDL office. The address will be shown on screen while submitting your application. Once documents are received they will process and issue/send your PAN card. You can track status online using your application number.

What are charges for new PAN card ? Note that PAN card for minors cannot be applied online using the steps discussed here. For applying PAN Card, you will be charged Rs. 93/- (plus taxes) if you want to receive it within India and if your address is out of India you have to pay Rs. 864/- (plus taxes). You will need proof of date of birth and a valid address proof document for applying PAN Card, either residential proof or proof of office address.

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How to report cybercrime & financial fraud activities online ?

by primadmin
written by primadmin

We all hear the famous punctuation “there is no lock for the thief”. While we invent new locks, security systems, safety and prevention devices the criminals are way ahead and they also innovate new techniques of staling your money. Gone are those days when robbers used to break open your house or loot banks or stop you at night to snatch your money or pickpocket at crowded places or snatch your jewellery and run away. I am not saying all these have stopped, as we progress toward digitization the robbers are eyeing your information and password to still your money. Fraud telephone calls for financial transactions, identity theft, email scam, phishing attack, fraud insurance policy verification, job fraud, matrimony fraud, QR code frauds, Card skimming at ATMs etc., all these are now very common to trap you and get access to your information. Fraudsters have looted many youths, senior citizens, educated people, people working in corporates, even people at government jobs.

While we all want ease of access for banking, financial transaction, instant payments etc., we have to be careful in keeping all our data, passwords, KYC/identity/documents safe and away from these monsters. Else our hard earn money will be lost in seconds.

With increased awareness, some of us now a day could know which are fraud call and we avoid them, block the numbers, delete the emails etc. Those who are not able to deal become victims.

However, we all must report these fraudulent activities of the robbers for making our society robust and safe guard people from being victims. We often ignore and move on if there are no losses incurred personally. Only those who lost money in such activity, they go and report such cases.

Government of India under the Department of Ministry of Home Affairs has created National Cyber Crime Reporting Portal and has made it very easy for Indian citizens to report all such cases so as to clamp down the criminals. You can visit the portal at  https://www.cybercrime.gov.in  and report all such cases easily within seconds. Once you report the case, they are send to the cell & local authorities for investigation and action. This portal is accessible both in Hindi & English languages. You can also dial their helpline number 1930 for registering a complain.

Government has been actively popularizing the services offered by this portal via SMS/Email/radio & TV adds.

Be a responsible citizen, next time you come across such fraudsters do not ignore them. Just go to the portal, report the cybercrime & financial fraud activities sitting at your home/office.

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Why should you always update your Risk Profile ?

by primadmin
written by primadmin

We all know ‘Nothing is permanent in this world’ and ‘Change is constant in life’. Everything around us is changing fast every second, every day. We all grow in life over a period. Our roles and responsibilities change at home/ office / businesses.  Our daily needs keep changing. 

Economic & environmental factors also keep changing across locally, within our nation and would wide. In this fast-moving dynamic world, our risk appetite also changes over a period of time. Hence, our investment risk profile also changes from time to time. 

For example:

  • someone is approaching retirement in next couple of years and want to divert all his volatile investments to assured income products. Now he wants to take less or no risk.
  • stock markets have crashed, if you are sitting with cash and want to use the opportunity to invest you can do so. You may not be thinking this few months back but now you have changed your mind.
  • someone may be waiting for stock market correction for doing his annual ELSS investment. 
  • those who have already made profits may think to book profit and move their money to safe instruments. 
  • some people may be waiting for Gold price correction to invest or buy for occasions like marriage. 
  • a young chap got an increment, he may be thinking to invest more now irrespective of market conditions and want to take more risk which he was not thinking before few weeks.
  • may be many mid aged persons are not worried at present economic scenario and just following what they were doing for their retirement corpus built up. 
  • With changing times people/ investors keep balancing/ re-balancing their portfolios. 

When you think your risk appetite is changing, you must update this to your bank, finance company, relationship manager so that they align with your objective and do not suggest or invest in wrong avenues. All financial institutions ask you for risk profile updation from time to time. Do not ignore these updates thinking it would not affect you.

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Understanding Top-Up & Super Top-Up of Health Insurance Plan.

by primadmin
written by primadmin

Buying health insurance is no child play. There are so many companies, so many plans and so many options. What to select and what not is totally confusing. Today let’s understand two important aspects of all health insurance policies. We normally use terminologies Top-up and Super Top-up. But many of us do not understand what they really mean.


Basic Health Insurance Plan – If you have a basic/ regular health insurance plan, it will have a fixed annual cover. For example, you have a plan which provides cover of Rs. 5 Lakh. In case of any requirement the insurance company will pay up to 5 lakhs. But if your medication is of 7 lakhs then the additional amount of 2 lakh have to be paid by you.


Top up plan –  this is additional cover that you take over and above your basic health plan. You can take it from same or other insurance companies. When you take a top-up plan, insurance companies will have deductible. Deductible is the amount that will be deducted from you first which the top-up claim is paid. Let’s understand by an example. You have a basic health plan of 5 lakh and top-up plan of 10 lakh where deductible is 2 lakhs. Now imagine you have a claim of 11 lakh for hospitalisation due to some surgery. Then from your regular plan first 5 lakh will be paid, you have to pay 2 lakhs from your pocket as deductible and then your top-up plan will pay remaining 4 lakhs. Deductible is there in top-up so as to avoid false claims, if you do not pay deductible then insurance company will not pay too-up claim.

Top-up will ask for deductible every time you have a claim.


Super Top-up plan – super top-up works similar to top-up except that, in case of super top-up you pay the deductible only one time in a year. For repeated claims within same year you do not have to pay deductible.

Super top-up and Top-up plans help when you know someone has past record of health issues and might need hospitalisation frequently in future. Better if you opt for these for family members aged 50 years or more.

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Avoid your credit & debit card frauds. Follow these simple measures.

by primadmin
written by primadmin

Increased digitisation has eased our life, everything around us is filled with Tap, Swipe & Scan. Digital payments are everywhere and merchants now discouraging cash transactions in India. With this comes multi fold increase in frauds. Every day we hear stories of someone losing money to fraudsters. Fraudsters call you with some basic data of yours already in their hand and during conversation they try to extract the remaining data from you. They know your mobile number, initial 6-8 digits of your card number, they try for few more digits from you out of the total 16 digits of your card. They using the latest software they try guessing your card number and the CVV. While the financial regular is trying its best to make aware, take measures and control, it is you who has to safe guard your money/ credit card/ debit card. No fraud is possible if you are taking all precautions and are alert.

Follow these simple steps to protect any debit or credit card frauds.

  • Keep your mobile number updated in your bank account and credit card.
  • Opt for sms and email alerts. Do not ignore when you receive messages from your bank or credit card company. Read them immediately.
  • Use mobile app of your bank and track your transactions.
  • Keep your banks fraud reporting number handy in your mobile. It’s generally printed at the reverse of your card. But if you do not save it, in lost card scenario you will have to search and by that time money will be lost.
  • Any fraud transaction in your card / account must be reported to your bank immediately. Bank has insurance for all such things and it will be covered. If you delay they might not cover it.
  • Most bank now provide facility of switching on/off your card using mobile & internet banking. Use this facility if card is not used frequently. Similarly, international transactions can also be switched on/ off if not needed in near future.
  • Do not handover your card to anyone. Always swipe it in front of your eyes. Be extra careful while using cards at petrol pumps, shopping malls, any crowded places and suspicious places as they try to divert your attention.
  • Do not pay by card if you feel suspicious. For example, sometimes they try to swipe multiple times.
  • Ask for the customer copy of the card payment. Vendors try to save paper by not giving it & we only believe on the sms beep. Insist on the copy and read it carefully.
  • Read bank/ credit card statements and tally. Any error highlight immediately by complaining.
  • Do not share OTP/ PIN/ CVV/ personal data to anyone, not even over phone.
  • Do not use public Wi-Fi for financial transactions.
  • Do not install unknown mobile applications or games.

These simple steps can keep you digital savvy and your money safe. Follow these today.

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IPO Alert – Hariom Pipe Industries Limited.

by primadmin
written by primadmin

Hyderabad based pipe manufacturing & distribution company Hariom Pipe Industries Limited is all set for its IPO opening on 30th March 2022. It is a part of Hariom Group of companies. The company started its operation in 1962. They are into manufacturing and distribution of all types of pipe/ tubes. They focus on all segments needs such as engineering, agriculture, housing, automotive and mining etc. They have their flagship brand ‘Hariom Pipes’ and enjoy quite strong in presence in south India especially in AP & TG. Company has strong dealership network of 200+ across India.

The details of the IPO are as below:

  • Issue size – Rs. 130/- Crores
  • Issue period – Between 30th March to 5th April 2022
  • Price band – Rs. 144/- to Rs. 153/-
  • Face value – Rs. 10/- per equity share
  • Lot size for bidding – minimum 1 lot of 98 shares. Single retail investor can apply maximum of 13 lots.
  • Listing at exchanges – BSE & NSE
  • Tentative allotment date – 8th April 2022
  • Tentative refund date – 11th April 2022
  • Tentative date for credit of allotted shares in DMAT – 12th April 2022
  • Tentative IPO listing date –  13th April 2022
  • Retail category on offer – 35% of total offer
  • Non-Institutional category on offer – 15% of total offer
  • Qualified Institutional Buyers (QIB) shares on offer – 50% of total offer

Disclaimer: Investment in equity markets involves high degree of risk, please read the IPO document carefully before investing.

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IPO Alert – Sunrise Efficient Marketing Limited.

by primadmin
written by primadmin

Surat based industrial products distribution company Sunrise Efficient Marketing Limited is all set to roll out IPO on 30th March 2022. They are into retail, export, import, manufacturing its own brands, assembling, servicing and various other services. Key products handled includes motors, pumps, automotive spare parts, gear boxes, generators, agricultural equipment, industrial valves etc. They are also into distribution of lubricants and lighting products. Sunrise Efficient Marketing Limited was previously known as Sunrise marketing and services were established in the year 2002. 

The details of the IPO are as below:

  • Issue size – Rs. 16.70/- Crores | 13,80,000 Equity Shares on offer.
  • Issue period – Between 30th March to 5th April 2022
  • Price band – Rs. 121/- per equity share
  • Face value – Rs. 10/- per equity share
  • Lot size for bidding – minimum 1 lot of 1,000 shares. Retail investor can bid only for 1 lot.
  • Listing at exchanges – BSE SME
  • Retail category on offer – 50% of total offer
  • Non-Institutional category on offer – 50% of total offer

Disclaimer: Investment in equity markets involves high degree of risk, please read the IPO document carefully before investing.

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UMANG Mobile Application, all Government Services at your fingertips.

by primadmin
written by primadmin

UMANG stands for Unified Mobile Application for New-age Governance. This is a mobile application (app) introduced by Government of India in 2017 for providing multiple facilities under one umbrella. It’s a universal application which gives various government related utility services inside your smartphone. This application aims to promote Digital India mission and is promoted by Ministry of Electronics & Information Technology-Government of India.

UMANG app is available free of cost at Google Play Store for android users, Apple App Store for Apple users and is also available for Windows users. There are no charges for registration and usage. It’s totally free being offered from government. This app is available in 13 languages (English, Hindi & 11 Indian regional languages) for wider reach among Indian citizens.

How to register? After downloading, open the app. Enter your mobile number, OTP will be sent to your mobile, enter OTP & set a password. Once you have successfully registered, you can update additional data such as Profile Picture, Name, Aadhaar etc. in this application.

What services are available in UMANG?  It provides 22,000+ services and integrates 200+ applications. The most popular services inside UMANG app are:

  • PAN
  • Aadhaar
  • Digi locker Services
  • EPFO
  • National Pension Scheme
  • Public Provident Fund
  • Gas cylinder booking

It also integrates to VAHAN services, where you can see digital driving license & RC Book copy of vehicles. Your board/ university certificates can also be extracted and stored in this application for ready reference.  You can also raise grievances using this application. UMANG also facilitates various bill payment services. UMANG app is also available in web version at https://web.umang.gov.in/landing/. So, create your profile today and make your life easy with the application.

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