Advice For Investors And Families Form Yogesh Chhabria.

Hi Dear Freaks;

You might know about world wide recession.

Do you know why this happened? The cause of this recession, what I was thinking is same and also matching with the view of “Yogesh Chhabria”.

Have a little introduction of “Yogesh Chhabria”.

He started investing in the Indian stock markets when he was sixteen. The markets have been kind to him, and today he shares his ideas with others and helps them create wealth.He has been a contributing author to the International Bestseller Series, Chicken Soup for the Soul and has written for several publications all across the world. He regularly writes on finance, investments and wealth creation for MoneyControl.com.He loves being a serial entrepreneur and his ventures have included his comic book business, The Indian Lemonade Company, international trade, a solar energy distribution venture, commercial blogs, investment counselling, education and real estate.

Yogesh speaks five languages, has to his credit various tittles and awards such as – Monsieur (Mister) Alliance Francaise de Bombay, The Air-India Scholastic Award, International Lions Club Exchange Scholar to France, Sindhi Social Samaj Award. He is a yellow belt holder in Taekwondo and holds an unofficial world Chat-a-thon record! For more information about "Yogesh Chhabria" click on http://www.happionaire.com/index_files/yogeshchabria.htm or search in Google.Com Custom search.

Here is An interesting article by Yogesh Chhabria for the world wide recession victims and for the all World Wide and Indian middle class families in its original form.


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 instalment). Today, you can buy everything on EMI - a house, a television, 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 good’s.
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 profession).
6. Don’t stress out your self, 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 matter’s 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?

So dear friends search freaks follow above all the points for a happy financial life.

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