Why those with enough money don’t spend it

Many rich people are insecure about money. A prudent allocation of assets and a gift of attitude can help them to enjoy their wealth

Registration is easy the most discussed topic in personal finance. It is easy to find research that deals with households and debt-trap spending in the middle class. But there are many households facing the opposite problem. They have enough money, but it does not just happen.

Many rich families suffer from insecurity imposed on money. Especially if it is auto-cattle and if they came from a bottom of the lack of money during their growth.

They can be rich today, but remember that spending out of fear of being forced to go back to being short, if they spend their wealth. The expenses are psychologically painful for many of those who are associated money for well-being in absolute terms.

The problem of mixed priorities is quite common among those who are unable to make spending decisions. How many of us are surprised by looking at the right side of the menu, after choosing to eat at a good restaurant?

How many of us have decided to go back to the museum doors after seeing steep entry fees, even after spending a fortune when traveling abroad? How many of us have collected, checked the label of the garment and returned to the dais, although we liked the color and the fabric?

The systematic denial of what could be a legitimate expenditure, taking into account income levels and wealth, is more common than we recognize. Psychologists point out some factors that may be involved.

People can show their success and it is mainly attributed to certain habits, attitudes and personal preferences. Investors who are deprived of trying to save money, support sacrifices and the deliberate denial of pleasure as virtues.

Passing impulsively, or making decisions spontaneously, is prudent in your evaluation. They do better if they are given the time to evaluate the decision and believe in time.

I have a friend who told me that her husband can not worry about the birthday gift, but he has perfected the art of advancement and persuasion to get him to buy expensive gifts anyway.

smart woman! Those who pride themselves as workers and willing to put the effort to do something, know that it is difficult to pay for help. A friend of mine, a consummate cook, unnecessarily handled work and home for several years, before naming a cook.

She could afford to pay with the house that would have made life a lot easier, but outsourcing a task she did which was tantamount to acknowledging that she did not want to do it.

Sometimes expenses are accompanied by the guilt that we do not know how to handle. Outsource a task, we believe we can do anyway, do not make us feel happy or relieved.

Rather, it led to the guilt that we are no longer the person who enjoyed doing this work or that work, or that we can not give time to what we liked to do before.

Many of us end up wasting time on routine tasks that can be easily outsourced because we see that spending does not add up, but eliminate what we imagine are the simple pleasures of life.

Money Mysteries: Money advice in a nutshell

It’s a Catch-22 situation. People who do not understand the investment, and are still trying to understand things, of course, should take the advice of another person. However, they are not equipped to determine whether the advice they receive is good or bad.

Everyone is willing to offer advice, but the advice that some have actually worked for the person who gave it, could be quite inappropriate for someone else.

Business advisory providers are also problematic. If they work on commission, boards are certainly motivated by business considerations, rather than their interest. So where should you seek advice?

How about the financial advice of a designer, although very experienced? As a reader of this publication, who surely familiar with Scott Adams, the comic strip Dilbert is a very funny but desperate aspect in the reality of the business.

Few people know that Adams also wrote some of the best personal finance tips. He calls it a “book,” and his title is all he needs to know about financial planning. Except this “book” has not been published and only has 87 words.

Here, everything: make a will. Pay your credit cards. Get term life insurance if you have a family to maintain. Finish your 401 (k) to the max. Finish your IRA to the fullest. Buy a home if you want to live in a house and you can afford it.

Put six months of spending on a money market fund. Take the money you have left and invest 70% in equity funds and 30% in a bond fund through a discount broker, and never touch it until retirement.

Adams has a bachelor’s degree in economics. He also has an MBA and worked in a bank for eight years. It is so wonderful that despite these disadvantages, it is still talking about personal finances.

Adams said he started planning to write a book about personal finances. However, when he had thought in detail what the book had been simplified and the whole logical end, it was just these 87 words.

The good news is that these 87 words contain everything you need to know to plan your lifetime savings and investments.

Obviously, in India, 401 (k) and IRAs are replaced by appropriate equivalents such as PF, NPS and annual investments in ELSS funds.

For 70:30 plates, choose good mixed backgrounds and start SIP in each. Profits are tax-free even after one year.

Scott Adams has good comics in what he called the “financial entertainment” industry. In one, evil Dogbert explains his plan to launch an investment fund, “We are entering the game into financial services.

In this way, all our products can be imagined. We will start 10 mutual funds, each with values ​​selected at random. Later, we will build our ads around so does the best by chance. My goal is to be the first provider of imaginary experience. ”

I am sure that some managers of Indian investment funds recognize this strategy from personal experience. Obviously, Scott Adams understands much more than office life.

Govt may give Bhim users cashback bonanza on Independence Day

BENGALURU: On Independence Day, the government will provide higher reimbursements if consumers opt for digital transactions using the Bhima application.

Operated by National Payments Corporation of India (INPC), the Bhima application works on unified interface (UPI) payments.

Prime Minister Bhim released in December, after demonetization, to stimulate digital payments.

President and CEO of NPCI, A P Hota told TOI that the proposed approval of an increase in government reimbursement incentives for the use of Bhima should take effect on August 15.

This also coincides with the planned deployment of a new version of Bhima. “We have informed the government that payment incentives should be increased so more people start using it.

We are waiting for government approval for August 15, “said Hota. Currently, these are cashbacks between Rs 10 and Rs 25.

The Hota push for greater incentives for users to Bhima also occurs after other payment applications in the country that offer reimbursement incentives to cost-effectively acquire customers and repeat transactions.

Companies such as Paytm and PhonePe, supported by global investors relied on these reductions to attract users on their platforms.

Currently, if one person refers to Bhima to another, she will receive Rs 10 bonus and the person who will receive Rs 25 in money back.

TOI had reported last month that banks could reduce UPI rates for traders in a move to support the number of transactions conducted through UPI.

After demonetization, the government has allocated over Rs 450 crore for payment incentives to be used for a period of six months from the April 14 birthday edition of Ambedkar BR.

The payment application has recently reached a user base of 16 million with 4 million active customers in the end of June

“We are also in the final version of Bhima’s 1.4 version, which will make application transactions smoother.

Among other updates, rapid response (QR) Bharat code will be integrated into the application, which should be another amplification factor to increase Bhim transactions ”

Hota said. Bharat QR allows stores to accept electronic payments from UPI cards or with the client scans the QR. Given the demonetization, the government has actively encouraged digital payments.

Government reviews IT imports from China

NEW DELHI: The government has begun examining massive imports of electronics and information technology from China due to concerns over security and data leakage +.

There has been a growing outcry of import restrictions and other restrictions on these products, which are currently a huge amount of shipments across the border.

The review comes at a time when India and China’s Doklam gap has intensified and may signal the occurrence of a strategic trade war as tensions on the border worsen and concerns over trade imbalances and increased security.

The growing share of Chinese companies in the electronics and information technology industry booming in India, a recent study by the CII Industry Chamber, has raised alarm in government, especially in what is believed to be Much of this can be used to gain unlawful access to critical information about individuals, businesses, and government provisions.

“There are more and more concerns about the preparation of the security device, especially in fears that online e-commerce platforms and finished products can be used to gain sensitive information,” industry sources said.

“The communication has been sent to industry stakeholders for their views and to assess their preparedness for the protection of critical data and information.”

India’s move towards the digitization of services and trade and multiple increase in online transactions has also contributed to the security problems that have reached the highest levels of government.

The IT Minister and the law, Ravi Shankar Prasad, recently held a high-level meeting to assess the situation regarding China’s participation in the electronics industry and information technology in India sources.

Prasad is supposed to have ministry officials asked to make an assessment of the vulnerability of India with respect to products from China.

Chinese companies have almost turned into a column to India’s massive needs in the manufacture of electronic products, especially when importing a large part of critical components and finished products.

These include components for products such as mobile phones, medical equipment, telecommunications network equipment and devices and the Internet for things related sensors (IOT).

In addition, leading Chinese companies have large stakes in some of the leading online markets in the country.

“Many devices transmit or store data on Chinese servers, which could be a security risk.

On the other hand, online transactions using several of these devices and platforms can be filled in Chinese servers, which can create security problems for the country at a time of deepening the crisis at the border, “said a source.

India’s significant and worrisome trade imbalance with China is another trigger for the year. It is estimated that the government should focus and emphasize the faster indigenization to address the problem.

India had a trade deficit of nearly 52 billion with China last fiscal year and the country is now looking for better access to markets in the neighboring country for its products and services.

In the electronic map, the government insists on increasing local production by introducing manufacturing benefits into India.

Indonesia speaker named suspect in major graft case

Indonesia speaker named suspect in major graft case

The anti-corruption agency of Indonesia appointed President of Parliament as a suspect in a major graft scenario that would have hissed about 170 million dollars from the government coffers.

The Corruption Eradication Commission appointed Setya Novanto, the spokesman for the house, as suspect in the Monday graft giant Monday also involved other senior politicians, including the Minister of Justice, the former interior minister and several governors.

The head of the commission, Agus Rahardjo, said Setya “abused his authority and position for personal gain or for the benefit of society.”

Researchers say Novanto was among many politicians who received reimbursement of funds to a government plan to issue new ID cards to 255 million people in the country.

The anti-corruption special court in Indonesia said that more than a third of the 5.9 trillion rupee fund ($ 443 million) has been kidnapped by a network of politicians and entrepreneurs in a scheme that would have been crowned 2009-2015 .

Novanto, who is also the coalition chairman of the ruling Golkar party, is the fourth suspect to be announced in the case, which could become a test of President Joko Widodo’s willingness to take a firm stand against corruption because many of the Involved are public officials.

Novanto was formerly known as a suspect in another corruption case that forced him to step down as a teacher in 2015, when he was accused of extorting a US stake in Freeport-McMoRan in exchange for the extension of the The company to operate in the archipelago.

He was acquitted of the allegations and was again appointed as a teacher in 2016.

Indonesia ranked 90th out of 176 countries and territories in Transparency International’s corruption perception index last year. A number ranking represents the least damaged.

PTI will wait for SC verdict on Panama Papers before pressurising Sharif to resign

PTI will wait for SC verdict on Panama Papers before pressurising Sharif to resign

Islamabad: The Supreme Court must declare its verdict on the documents Panama, Pakistan Tehreek-i-Insaf (PTI) on Tuesday said to await court decision before calling people to take to the streets and convincing Prime Minister Nawaz Sharif to resign.

On the other hand, the Pakistan People’s Party (PPP) warned that Sharif will be forced to leave his post if he does not resign, reported dawn.

“Our party will await the decision of the Supreme Court,” said PTI spokesman Fawad Chaudhry. Chaudhry said the decision to wait was made by the party, adding that the party would not hold large rallies or public meetings until the court announced its decision, but hold small party conventions several places.

“We do not want to give the impression that we were taken to the people on the street before the verdict of the apex court, but we want to keep our busy workers stay ready for any calls from the president,” he said.

On Monday, a Supreme Court of Justice of Pakistan, which runs the three-judge enforcement bank in the Panama Papers case, said the findings of the joint investigation team (JIT) against the Sharif family are not mandatory in The apex court.

“The ECI’s results against the Sharif family are not binding on the Supreme Court,” said the Tribune expressly quoted Justice Ejaz Afzal Khan at the hearing.

The apex cut asked whether Sharif received a monthly salary from FZE, an offshore company, as the JIT report reveals.
According to the report, Judge Sheikh noted that JIT has obtained FZE documents through Mutual Legal Assistance (MLA) from the United Arab Emirates, under the law of the National Accountability Office (NAB) because the source documents were not certified .

Meanwhile, Judge Ejaz noted that it was questionable whether the documents can be accepted without a doubt the people who sign them. The highest court is likely to put Sharif on trial on charges of corruption or even disqualification.

However, some hope that the judges will dismiss the case after the JIT filed a damaging report on the wealth of the Sharif family.

Earlier, Sharif’s lawyers and finance minister, Ishaq Dar, made separate objections to JIT’s report at the apex court today.

A vertex three-member bank, headed by Judge Ejaz Afzal Khan and Justice Sheikh Saeed including Azmat and Justice Ijazul Hassan after the JIT began hearing the case when the JIT submitted its final report July 10.

The report highlights a categorical play by the prime minister, his sons and other family members in his wealth related to offshore companies in Panama Documents discovered.

Without justice and accountability, India can’t deliver on its Sustainable Development Goals promise

Without justice and accountability, India can’t deliver on its Sustainable Development Goals promise

While India offers a review of sustainable development goals at the UN High Level Policy Forum in New York on Wednesday, it is unlikely that Indian authorities deviate from painting a rosy outlook.

Sustainable development goals are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity through 17 interconnected goals.

These objectives include climate action, economic growth and gender equality. Sustainable development goals are imposed after world leaders from 193 countries met at the United Nations Summit on Sustainable Development in New York in September 2015 and adopted the Sustainable Development Program 2030.

The ten ten objectives adopted unanimously will provide a global framework for international development for the next 15 years.

As part of its monitoring and review mechanism, the high-level political forum is the central platform for countries to submit their National Journal volunteer.

Politically High Level Forum this year, India and 43 other countries will present their National Voluntary Review on progress, challenges and gaps in the implementation of sustainable development goals at the national and subnational levels.

In its report to the High Level Political Forum, the Government of India has listed its achievements in reducing poverty, health and nutrition, gender equality and empowerment of women.

However, the report ignores the most crucial element for the success of its initiatives: in the absence of transparency, accountability and access to justice, these efforts are nothing.

Homicides, violations of human rights
After decades of defrauding concerns about security, justice and accountability of traditional development debates, Agenda 2030 has come to recognize good governance as the cornerstone of sustainable development.

In fact, their inclusion in the overall development objective 16 – “Promoting peaceful and inclusive societies for sustainable development, facilitating access to justice for all and creating effective, accountable and inclusive institutions at all levels” is considered to be The goal of the transformation to be installed in the agenda can be achieved.

For the poor and vulnerable have the same rights to economic, financial and land resources, as well as basic public services, it is imperative that people have a legal identity and access to justice when they are denied those rights.

Similarly, in order to put an end to all forms of discrimination against women and girls, anti-discrimination laws must be introduced and the rule of law maintained.

In essence, the goal of sustainable development 16 allows citizens to demand what belongs to them and create safer and more inclusive societies. However, the government’s report on its sustainability goals keeps silent on these crucial issues.

Mandela Day: Why The World Celebrates Nelson Mandela’s Life And Times

Mandela Day: Why The World Celebrates Nelson Mandela’s Life And Times

New Delhi, July 18: Nelson Mandela died in 2013. But his birthday is still celebrated internationally as Mandela’s day.

It is recognized by the United Nations and celebrated worldwide on 18 July. It is quite extraordinary because the activist and statesman defended the rights of blacks in South Africa alone.

However, many marginalized communities are always inspired by their struggle for the freedom of their people.

Nelson Mandela was born in Mvezo in the royal family Thembu in 1918. He trained as a lawyer and could lead a comfortable life. However, he opted for a life of deprivation and struggle.

He fought tyrants six decades to ensure equal rights for blacks in the South African company that was run by white, white.

Mandela joined the African National Congress in 1943. After the white government then established apartheid – a system that denied blacks their basic rights, while granting special privileges to whites, he and the ANC spent their Lives to eliminate the draconian system.

He led the 1952 Challenge Campaign. Although his activities remain non-violent, he joined the Prohibited South African Communist Party (SACP).

He was condemned to life in 1962 for conspiring to overthrow the government. He spent 27 years in prison and was released only by national and international pressure on the South African government.

Due to its sacrifice, South Africa gained its independence in 1994 and Mandela became its president. He introduced agrarian reform, social programs for poor services and health. He then focused on the fight against poverty after a second quarter fall.

Nelson Mandela has achieved iconic status and has received many awards in his lifetime, including the Nobel Peace Prize. The highest civilian prize in India, Bharat Ratna has also been conferred. Many other countries have done the same.

In November 2009, the UN recognized its birthday as International Mandela Day. It is not a holiday in South Africa.

This is only to fulfill their sacrifices, their values and to celebrate freedom and equal rights for all. Mandela died in 2013.

Islamic leaders boycott Jerusalem holy site over metal detectors

Islamic leaders boycott Jerusalem holy site over metal detectors

Islamic leaders on Monday urged Muslims to boycott a holy site in Jerusalem in a gesture of protest after Israel set up metal detectors at the entrances to the site after a deadly Arab attack last week.

For the first time in decades, Israel has closed the site – sacred to Muslims as the Noble Shrine and Jews as the Temple Mount – last Friday after three Israeli Arab Israeli Muslims opened fire from the holy compound automatic weapons, killing two agents Of police before being shot and killed.

Israel reopened the compound of Muslim worshipers Sunday after imposing new security measures, including metal detectors at entry doors and additional security cameras.

The Waqf, the Islamic authority in Jordan who handles religious affairs on the spot, was outraged by metal detectors. Dozens of worshipers prayed in the streets near the door after refusing to enter through metal detectors.

Police said Monday that about 200 Palestinians were trying to block a nearby road and throwing stones at the officers who dispersed them.

A day earlier, small clashes broke out as some Muslim faithful tried to stop others from using the gates, Israeli media reported.

Police said that despite tensions, hundreds of worshipers had entered the compound.

The Waqf, and other Islamic groups have issued a statement calling Monday Muslims to “reject and boycott all aggressive Israeli measures, including changing the status quo story, including imposing metal detectors.”

They called on the faithful to “not enter the mosque” through the detectors. The statement added that “if metal detectors continue to be registered, we call people to pray at the doors of the mosque and in the streets of Jerusalem.”

The fate of the compound, sacred to Muslims and Jews, is an emotional issue and is the centerpiece of rival Israeli and Palestinian national narratives.

All changes perceived delicate arrangements on the site can trigger tensions. Its closure after Friday’s attack sparked condemnations from the Arab world.

Jordan has called for its immediate reopening and there were demonstrations in the streets against Israel, with which Amman concluded a peace treaty.

Israel did not coordinate the changes with Jordan, who serves as a custodian of the Muslim-run site, a Jordanian government official.

Jordan’s position is that everything that has been installed on the site must be approved by the Waqf, or Islamic government, and you can not change the status quo, the official said. Domingo spoke on condition of anonymity because he was not authorized to discuss the situation with journalists.

The repeated scene clashes

Jews venerate the site where two Jewish temples were in biblical times like the Temple Mount. This is the holiest site of Judaism and the adjacent Western Wall, a remnant of one of the temples, is the holiest place where Jews can pray.

Muslims consider the same complex at the top of the hill as the Noble Sanctuary. Home Al-Aqsa Mosque and the Dome of the Rock, Islam’s third most sacred place after Mecca and Medina in Saudi Arabia.

No red carpet for Trump, says London’s Khan

No red carpet for Trump, says London’s Khan

London Mayor Sadiq Khan reiterated his opposition to US President Donald Trump who received a state-of-the-art visit when he arrives in the UK next year.

“State visits are different from a normal visit and at a time when the president of United States policy in which many of our countries do not agree, I’m not sure that our government is working the red carpet” Khan Told CNN in an interview on Monday.

Last week, the White House confirmed that Trump’s state visit to the United Kingdom has been delayed until 2018.

The delay is due to the fact that there will be no massive protests against Trump in the British capital.

Trump met with British PM Theresa May at the G-20 summit in Hamburg and told reporters he would travel to London.

The offer may state a visit, which usually includes a banquet with the Queen, was made during his visit to Washington in January, a few days after the inauguration of Trump.

Khan, the first Muslim mayor of a western capital, however, has not ruled out meeting with the president of the United States, if offered the opportunity.
“If anyone has any opinion that I think can be changed, I’m ready to do my part,” he told CNN.

“If you think that in some ways it is not possible to be proud Muslim and Western, I am happy to disappoint the idea that you are a reporter for CNN or Donald Trump.”

CNN went to the White House to comment.
Khan and Trump’s relationship was an impressive beginning of Khan’s opposition to Trump’s decision to get rid of the United States from a list of Muslim-majority countries.

Then, after a terrorist attack on London Bridge last month, which left eight dead, Khan comforted Londoners that there was “no reason to be alarmed” by increasing police presence sparked an extraordinary Trump threat on Twitter .
But Trump later tweeted: “The pathetic excuse London Mayor Sadiq Khan, who had to think quickly in his statement” there is no reason to be alarmed “MSM [media] is working hard to sell it.”

Earlier this year, more than 1.8 million people signed a petition to block Trump travel in the UK for fear that this would lead to embarrassment to Her Majesty the Queen.