Global Slowdown, plan your career and finances

How are you doing?  Here I found very good article regarding managing finance during slowdown. I hope it this will help you in to manage future decade for your career and finances. Also, Let’s hope Indian economy will continue performing good and survive with global economy crisis.

We’ve learnt our lessons the hard way. But rather than wait for the next
recession blow, one can play it safe.   Sanjeev Sinha  ( The Economic Times)

10 points that can equip you to deal with similar situations

THE OVERALL impact of the financial meltdown, which is certainly huge, is
now evident across the world. Particularly, the pain of job losses and drop
in savings is being felt everywhere. This, in turn, has instilled a sense of
fear and cynicism in the minds of investors globally. Still, while we are
making vast efforts to extricate ourselves from the current crisis, little
effort is being made to prevent the next one. Rather than wait, however,
there are many things which can be done now to avoid another crisis, or at
least cushion the blow when it comes. Listed below are 10 personal finance
lessons we can and should learn from the meltdown:

CONTROL EXPENSES & STICK TO THE BUDGET

You are more likely to face financial problems, if you have been extravagant
in your expenses. However, in a bid to tide over the current crisis and also
avoid such crises in future, you need to adhere to some financial
disciplines, and making a budget and sticking to it is one of them. Sticking
to the discretionary budgets, in fact, can help you handle the uncertainty
in the non-discretionary expenses.

DON’T COUNT ON TOMORROW’S INCOME

Counting on tomorrow’s income to spend today is one of our greatest
mistakes, which has already been proved by the current crisis. In fact, up
until the financial meltdown hit us, the spending levels of individuals,
especially in the 25-35-year age group, have been almost equal to their
income, if not more. “With the easilyavailable loans and credit cards they
were tempted to indulge even without being able to afford the expense. Now
with pay cuts and job losses, they are facing the worse. However, even if
you keep your job now, the prevalence of pay cuts makes it clear that you
can’t count on an ever-expanding paycheck to make up for your spending,”
says Lovaii Navlakhi, managing director & chief financial planner of
International Money Matters.

MAINTAIN LOW DEBT

Prioritise your debts. Pay off your loans with the highest interest rate
first. Basic advice, right? “The problem is that people have been
reiterating this theory for years, but most do not put it into practice.
This step requires one to plan out one’s debts and then follow through by
reducing it regularly and systematically. True, paying off debt can be a
difficult task, but it can also be quite rewarding as it gives you peace of
mind,” says Navlakhi.

GO FOR STRATEGIC ASSET ALLOCATION

Time and again we will hear from the so-called experts that there is a
paradigm shift in the market dynamics and that investors need to revise
asset allocations more aggressively to meet the impending demands of their
future lifestyles. “But one should strictly avoid falling for such traps.
Though temporarily the portfolio may appear underperforming, sticking to
fundamentals of strategic asset allocation would always help investors come
out of such temporary market mishaps,” says Ramesh Patibanda, director -
financial planning, Advice America, world’s leading provider of financial
advisor software solutions.

HAVE EMERGENCY FUND IN PORTFOLIO

Having an emergency fund in your portfolio is an ideal way to tide over a
family crisis or meet unexpected expenses. Therefore, the need for
maintaining emergency funds has always been emphasized by our forefathers.
“Even standard financial principles suggest that you should keep aside cash
to cover three to six months of living expenses, which would also be able to
cover most emergency expenses. Your emergency funds can also come handy in
case of a job loss,” says Ashish Kapur, CEO of Invest Shoppe.

ORGANISE YOUR FINANCES

To those who are not used to monitoring and managing their finances closely,
this may sound like a lot of work. But once you get a system in place, it
should only take a bi-monthly monitoring to stay on top of everything.
Ensure that you maintain sufficient liquid funds for emergencies. Also,
monitor your loans and ensure that you make credit card payments before the
due date.

LEARN TO PLAN AHEAD

It’s no secret that poor planning contributed to why so many people are
currently in weak financial situations. However, don’t panic. Figure out
where you are, where you want to be and put in place a realistic plan for
getting there. Unique circumstances will come up and cause you to stray from
your plans temporarily, but structure is necessary in order to monitor your
progress and stay focused.

INVEST SLOWLY & SYSTEMATICALLY

The problem for many people is that they live month to month and don’t
develop healthy saving habits until they are in their thirties or forties.
“Contributions to a savings plan should be recognised as the first of your
necessary monthly expenses, so that money saved will never be thought of as
money that can be spent. Even if you start saving in small amounts now, you
can always increase in the future,” says Navlakhi.

TAKE CONTROL OF YOUR INVESTMENTS

The worst thing you can do in a slow economy? Panic and pull all of your
money out of your investments! Therefore, resolve to protect your finances
as the market storm rages on. Take this time to build up your emergency
fund, and set reminders to regularly review your portfolio’s asset
allocation. “Try to align the same with your mid-term and long-term goals.
Do not get distracted by the usual city traffic jams when your final
destination is miles away,” advises Atul Surana, certified financial
planner, Catalyst Financial Planning.

HAVE REALISTIC EXPECTATIONS

There’s nothing wrong with hoping for the ‘best’ from your investments, but
you could be heading for trouble if your financial goals are based on
unrealistic assumptions. Therefore, when Warren Buffett says that earning
more than 12% in stock is pure dumb luck and you laugh at it, you’re surely
in for trouble!

Source: Economic Times, Sunday, 28 June 2009

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9 to 5 Office Worker Will Become a Thing of the Past

In your personal life, when attending to business or working on side
projects, how often do you spend 8 consecutive hours in front of a
computer? It doesn’t make sense because we lose the ability to
concentrate effectively within a few hours.Everyone goes through
alternating periods of high and low mental acuity. There are days
when I work on personal projects for well over 8 hours, but the time
is always divided into multiple sessions. I might spend a few hours
coding a design, a few hours writing, and a few hours reading feeds,
moderating comments, and responding to email.

I work this way because it aligns with my mental energy cycle. Any
more than 3 hours in front of a computer and my eyes start hurting
and I become restless. I lose the ability to do my best work.
Instead of forcing myself to continue, I switch to an activity that
allows my mind to recharge. These breaks maximize productivity by
eliminating down periods. It’s counter productive to force work when
the mental energy isn’t there.

The Problem with an 8 Hour Work Day

A continuous 8 hour work day is a relic of the past. It makes sense
for physical labor and manufacturing work, but with information
workers it doesn’t account for the mental energy cycle. The ability
of a factory worker to think analytically is irrelevant, he’s either
cranking widgets or he isn’t.

In the case of the modern information worker, nearly all tasks
involve creative or strategic thinking. The way someone answers an
email or interprets a piece of information can differ drastically
depending on his or her energy level. Nobody does their best work
5:30 in the afternoon after they’ve been sucking down coffee all day
to stay awake.

Makar Sankranti

By Swami Shivananda

Sankranti means to go from one place to another place (to change direction). It also means one meets another. The time when the sun changes direction from one constellation (of the zodiac) to another is known as Sankranti.
Transition of the Sun from Sagittarius to Capricorn during the winter solstice in the northern hemisphere (Uttarayana) is known as Makar sankranti.

Solar Year – Importance of the Sun

There are 12 signs of the zodiac. There are 12 Sankrantis as well. They are given names according to the position of the sun in relation to the signs of the zodiac. Each of the 12 Sankrantis has its relevant importance but two of these are most prominent.

These two are Mesh Sankranti and Makar Sankranti (Aries and Capricorn).The solar year commences when the sun is in Aries (the first sign of the zodiac). From the point of view of mathematical calculations, the solar year is more scientific than the lunar year. One lunar year has 354 days only and lunar days (or nights) increase or decrease according to the phases of the moon. Compare this to the solar year which has 365 ¼ days and remains the same. Many astrological books are based upon solar calculations. The sun is the most important and the most prominent of our stars and the undisputed lord of our planetary system. The sun always comes first. First day of the week commences with Sunday (Ravi).

Science attaches great importance to the sun. The sun is the inexhaustible storehouse and the source of light and energy. Without sunlight creatures and vegetation would cease to exist. People will lose their life sustaining vitality. Lack of nourishing substances would lead to the end of creation. This is why the sun’s existence, movements and positions in the cosmos are so important and that is why the sun earns our respect, admiration and reverence.

New Year’s Tips for New You

Focus Resolutions on Getting the Most out of Life, Now

© Tel Asiado

New Year’s tips to a fresh start for a healthier, calmer, and less stressful life.

The New Year means giving yourself another chance at life, a fresh start. Some might have prepared their resolutions, while others can’t be bothered but that doesn’t mean they haven’t mentally prepared themselves their own resolve. Always, it’s the time to plan carefully, set goals and prioritize. By doing them, simple things can be enjoyed with a calmer and less stressed living. Here are some tips or reminders to consider.

Reflect

You know you need to change, but can’ t quite put your finger on what exactly is making you anxious, unsettled or frustrated. Desires can be muddled by responsibilities or concern for others, fear of the consequences, uncertainties or being out of touch with your feelings. A few mental exercises can help pinpoint your goals. Write down your thoughts, worries and needs. It’s a powerful way to clarify thoughts, confront fears and help identify and secure commitments. Make your goals specific, measurable, attainable and time-specific.

Take a look at your life from a number of perspectives: work, home, health, relationships and money. How about your spiritual life? How do you feel about each of these areas? Be specific. What actions can you take to improve on them?

Music and meditation

Music has and also is the key to unlock the Heart-Door of the Supreme.

Music is the inner or universal language of God. I do not speak French or German or Italian, but if music is played from any of those countries, immediately the heart of the music enters into my heart, or my heart enters into the music. At that time no outer communication is needed; the inner communion of the heart is enough. My heart is communing with the heart of the music, and in our communion we become inseparably one.

Meditation and music cannot be separated. When we cry from the inmost recesses of our heart for peace, light and bliss, that is the best type of meditation. Next to meditation is music, soulful music, the music that stirs and elevates our aspiring consciousness. We cannot meditate twenty-four hours a day, but we can meditate, perhaps, for two hours a day. At other times we can play music or listen to music. When we play or hear soulful music, psychic music, immediately we are 1911 transported to a higher realm of consciousness. When we play music soulfully, we go high, higher, highest.