Enjoy the good things for free
By ashokpethkar
@ashokpethkar (575)
India
June 19, 2007 8:00am CST
Does it feels unreal? My friend Mr X has fairly prooved this.Every person has his/her own style of planning and different perspctive to manage money,so also for Mr.X.
He has a habit of doing two things before taking financial decision above 10000 bucks.
1.He only spends, if he has full cash amount with him.He does not like loan.(we see some people of such type) but
2. His second action is most important and that is the catch.
Suppose he spends 40000 bucks,he should get it free i.e. whatever he buys it becomes almost free. Wait he is not mad.Here is his method.
Once he thought to buy BIKE pricing 40000 bucks.He budgeted for 10 % extra i.e.for total 44000 bucks.After purchasing a bike for 40000 surplus 4000 he invests in a
scheme giving returns 8% to 10 % So that he will get back
full 44000 bucks within a time span of 20 to 30 years(His choice of products depens upon market senereo,he selects the product consulting with his consultant)
Good part of this is also a tax & retirement planning.He also have a habit of of monitoring finance at regular intervals.
Friends this philosophy and approach is positive and
realistic.Do try .Your comments and suggestions and any such method please.
1 response
@pallidyne (858)
• United States
19 Jun 07
I wish I could do that for all of my financial deals... Unfortunately its going to take more than half a years salary to get married later this year. And that's doing a lot of things on the cheap.
I try to do that for most purchases, with the exception of my house and wedding and have had a lot of luck staying out of or at least minimizing debt.
And it is never too early to save for retirement.
