This 20th Century formula still works, try it…

This is the digital age. The transaction on money – savings, investment, shopping, payments, loans and salaries are all now happening via electronic medium. This has also led to consolidation of information, which was once dis-aggregated and difficult to track. Now we would be able to track ALL of our transactions that we have made during the past several years via a click of the button. The transaction trail can give insights into what we earned, spent, shopped for how much or invested how much and when. Better still, we have live information via apps about how much is the bank balance, investment account balance, spending limits, credit limits and due dates of all payments via smart apps that enable us to track the universe of our financial footprint via single or multiple digital interfaces.

As a result, most of the analytics and information dashboards; if used to the full potential may become a boon to get personal finances in shape and help become financially secure. Alas, this information overload has also worked against the individual since dealing with so much information on a day to day basis and working to keep it consolidated and makes sense of it most of the times takes a toll on the individual mentally. Above, all it requires a lot of discipline on the part of the individual to stick to the plan that was formulated despite making or knowing it through smart apps.

Though these smart apps allow for functions such as budgeting and planning via different tools, in practice it never materializes due to lack of discipline and inability to stick to the same due to impulses / over information on account balances or simply easy credit facilities availed.

Spending curbs and budgeting

The need for today, whether for individuals or families is to keep spending under check and not to shoot the budget that was planned (if at all) for the year. Getting a budget at the beginning of the year for spending on essentials and discretionary items is doing the basics right. Now while all the smart apps might make it easy to roll out a yearly budget, sticking to it while juggling between apps, account, keeping a track and above all having the discipline to not use / ignore the alarms might make the most efficient budget planning exercise seem useless.

Doing it the 20th Century style

20 or 30 years ago, family budgets were done yearly with monthly spending planned during the month, usually at the beginning of the month. This was done by allocating the planned expenditure for the month and all expenses anticipated (essential and / or discretionary) and allocation done before. There used to be a small buffer for unforeseen over budget items during that month, but this could be by a small percent of that period budget. If the spending for that month exhausted the limit, then there was no further spending on that line item or that spending could be rolled over to the following month.

So visualize a typical household budget on a monthly basis with – Food/groceries, staff payments, medical, school payments, travel & transport, communication and many such as being essentials and followed by a list of discretionary spending such as dining & entertainment, short vacations, weddings/parties, shopping nick-knacks etc.

Now imagine there are monthly / annual spending limits on each of these items. The essentials would normally take a uniform run-rate for the entire period however, the discretionary items are the ones that need the regulation / budget on a monthly / annual period.

The traditional way to do this would be to allocate an envelope to each of the expenditure at the start of the month and spend only that which is allocated to that expenditure item. If the envelop goes dry before the end of the month then no further spending occurs and if the there is balance in that then it goes into the emergency envelope that is not to be touched come what may except for emergency.

This method was practiced widely and still is done by many families but due to rapid digitization and quick payment systems, this method is less prevalent. This method might be useful for individuals / families that are struggling with issues of discipline or ones that need to get habituated to such form of spending. It is very rewarding method that helps keeps budgets in control and provide for the ability to get all your spending needs address, however big or small.

If you have not tried this yet or have heard of this right now, it might be time to start on with this without further delay at least for 1 yearly budgeting cycle.

How to spend your month-end happily?

Have you ever reached the end of the month with almost nothing in your pocket and bank account? If so, you’re not alone. In fact, many Indians, often with large families, are living pay cheque-to-pay cheque. It can be one of the hardest cycles to break. Below are some tips on how to spend your month end happily and without worries.

Know Your Exact Budget

The biggest trick to help you spend less than you earn is to know exactly what you are earning and exactly where are you spending. It sounds simple, but

What should I keep in mind while going in for home loans?


When taking home loan one should keep in mind while going in for home loans
* – Decide how much loan you wish to borrow.
* – Pick between Floating Rate and Fixed Rate.
* – If interest rates are likely to go up in fixed, they are t come down in floating.
* – Benefits
* o 80C – 15 Lakhs
* o Sec 24 – 2 Lakhs.

Talk to our certified “Financial planning advisors”.

Call us +91 98453 99780

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How do I plan for my child’s higher education?


– For most parents giving your child a good education is a priority.
– You need to have an estimate of the possible requirement.
– It is good to start early, you van look at approximate cost and inflation.
– If you plan for a course like Medical, the amount is much higher.
– Look at how much you need after inflation. Start investing if its higher inflation.
– Use a combination of products and Invest. Eg, Long term risk reduces as you come closer to the end date.

Not sure how to save for your child’s higher education? Anil Rego, Founder and CEO of Right Horizons Financial Services, talks about how you can plan for your child’s higher education.

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Common mistakes in managing money


There are many mistakes people make when it comes to managing their money. Watch Anil Rego, Founder & CEO of Right Horizons Financial Services, give his expert views on these mistakes and how to avoid them.

Talk to our certified “Senior financial planning advisors and wealth managers”.
Common mistakes people make while managing their money

* – In the long term, equities give you the best returns.
* – However, we compare it with fixed deposits, look at it in very short intervals.
* – Buy high, sell low.
* – Goals
* – Understanding risk and return
* – Too conservative, too aggressive
* – Very low risk you may not be able to beat inflation and achieve your goals.
* – Too high risk leads to loss of money.

Know more about how do we deal such problems in easy ways

Talk to our certified “Senior financial planning advisors and wealth managers”.

Call us +91 98453 99780

We do encourage to use online technologies.
Follow us
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What is the ideal retirement corpus one should have?

ideal retirement image


What is the ideal retirement corpus one should have?
– The retirement corpus that you require at retirement would differ from person to person.
– The corpus required would depend on several factors. It would depend on what is the monthly income that you need at retirement. We have clients whom we support with Rs 50K a month and we have customers whom we support with an income of Rs 5 lakh a month. One way to do it is to look at your current monthly expenses and adjust that for inflation.
– The other factors that go into computing your required retirement corpus is the tenure to retirement. Some of us may want to retire early, and if the tenure for which you require monthly income goes up, it again increases the corpus required. Many clients of ours choose to retire early to either pursue their interest which could range from entrepreneurship to working for social impact.
– There are other assumptions like inflation rate and the rate of return that would impact your inflation. What most people miss out is the impact of inflation post inflation. If you need Rs 1 lakh per month as of today, in the next 8 years that is likely to be Rs 2 lakh per month. At the 16th year, it is a staggering 4 lakh a month.
– Let me give you an example- a 40 year old person looking to retire at 60 years would require about Rs 3.5 to 4 crore.
– Since most of the time, this is a long term plan with many assumptions, we normally review where we stand against our goal every 2-3 year. As we come closer to the need, this helps us refine our assumptions.

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Golden days for Gold

Golden days …

I remember those days,?

One day I was just searching for something like a letter in the cupboard of my bedroom.

Suddenly I found that something has fallen from the top of the shelf.

It was old & covered with dust.

I cleared the dust on my dress and observed it clearly.

An instant smile lit my face,

And a pleasantly surprised look too.!

It was my mom’s wedding photos

I forgot what I was looking for, and got immersed into these photos.

As I kept turning the album, I noticed the date 5/1976

I was so surprised.

My mom looked so beautiful in her bridal saree,

She had worn beautiful traditional earrings complemented with a beautiful necklace and adorned with hands full of jingling bangles,

Mom “Pawan what are you doing up there? “

ME: nothing mom, I just found some treasure!

No reply from mom

I found a paper and realised it is an old bill

The bill was dated with 5/76 (i.e. May 1976)

source Image is capture with 2 MP camera phone

But honestly, most of us don’t know how much the price when our father and mothers purchased gold in those golden days

Gold prices are expected to increase going ahead. The price of 24-carat gold has dropped by Rs 430 today.

Currently, 10 grams of gold in Hyderabad is priced at Rs 36,160. Market experts say that despite the strong trend internationally, demand from jewellers and retailers has slowed and the price has been adversely affected. At the same time, the price of 22-carat gold also fallen by Rs 230 to Rs 33,150.

The silver price, on the other hand, has remained steady. The price per kg silver is stable at Rs. 44,965. This is due to the lack of demand from industrial units and coin makers.

How many of you know the gold rate in golden days

For my readers here it is:

From 1925 to 2014

10 grams of Gold Price in Golden era

I hope Now we know the value of Gold
Let me give my conclusion

Going by the above data and past trends, How many of you expect the the “Gold Price” to Increase the cost ?

Based on these images can you imagine in the next financial year or next upcoming quarter?

The answer is “NO”

Not only in Gold prices
We have so many platforms which are gradually changing the graph every day/month.
Like Mutual Funds, Economy, Real Estate, Portfolio management services, Financial Planning etc.,

Likewise, in the market there are only a few companies who had more than 15 years of experience in the same domain and having the customer’s satisfaction rate more than 95%+

Ex: Right Horizons Financial Services Pvt Ltd.

Talk to our certified “Senior financial planning advisors and wealth managers”.

Bring back this beautiful smile in your golden years. Start planning for your retirement now.

Talk to our certified “Senior financial planning advisors and wealth managers”.

Call us +91 98453 99780

We do encourage to use online technologies.
Follow us
Facebook : https://www.facebook.com/Righthorizon…

LinkedIn: https://www.linkedin.com/in/right-hor…

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Email : contactus@righthorizons.com

Whatsapp : +91 9148096684