33 WAYS TO IMPROVE YOUR FINANCES IN 2011

By Sandeep Datta

All of us wish to save, but not many of us succeed in that. It is quite common hearing words like: “How can I save in this little salary? Or I barely manage to survive in this salary”.

What most of us fail to realize that it isn’t just how much big or small salary we get at month-end, instead it is more to do with how well we manage within our income following our personal approach to save money.

Following are some of the important ways to improve one’s financial life in 2011, based on the latest economic research and interviews with financial experts. These ideas, which focus on spending, saving, and earning, guide us about the tools for a complete financial makeover.

Whether you want to ramp up your earning power, finally start a retirement savings account, or just stop feeling like you're wasting money, now is the time to put together your New Year's resolutions.

So, want to have a complete financial makeover? Read on.

GOAL-SETTING:

1. Decide on your big goals.

2. Share those goals with other people.

3. Do a little every day. Take small steps toward your big goals every day.

4. Take time to reflect. Look back on 2010. What were your personal money highs and lows? What mistakes did you make and what challenges did you face? What financial decisions are you most proud of?

5. Develop a back-up plan. In today's economy, no job is 100-percent secure. Create a list of steps you would take if you were to lose your job, even though you hope never to have to use it. Having a Plan B can give you peace of mind as well as a practical "to-do" list if you ever face the shock of an unexpected job loss.

SPENDING:

6. Budget by the year. Research shows that budgeting by the year instead of the month makes it easier to stay within your spending limits. That's partly because when we create an annual budget, we remember to take into account occasional expenses such as gifts.

7. Keep a spending diary. Even if you just track every dollar you spend for two weeks, it will open your eyes to where your money goes and what you could cut back on. You might not realize that you spend $100 a week on lunches, or that your taxi-cab habit is eating up half of your discretionary income.

SECURITY:

8. Check up on your insurance. Do you have the auto insurance, renters insurance, and life insurance that you need? According to Allstate insurance, 2 in 3 renters skip insurance altogether, even though most people could benefit from the protection and it's relatively cheap. Life insurance is another awkward topic since no one wants to talk about death. But many people are under-insured, which puts their families at risk. Review the insurance that you have and decide whether you have the right amount.

9. Protect your privacy. Whenever someone asks for your Social Security number, question if it's necessary to share it. Never give it to a solicitor on the telephone or in an E-mail, and if you ever notice a suspicious charge on your credit card, follow up with your card company--it could be the first sign of identity theft.

SAVING:

10. Write down how much money you want to save by the end of the year. As with your other goals, the simple act of writing it down will help keep that goal at the top of your mind throughout the year.

11. Become a better cook. Sometimes you have to spend money to save money. Nowhere is that truer than in the kitchen, where investing in a few key pieces of hardware can help you cook better, faster, and cheaper. And anything that makes your food taste better and gets it on the table quickly can lessen the temptation to order budget-busting take-out. Consider investing in a slow cooker to make meals even easier.

12. Use less energy. Small changes, like closing doors to unused rooms or turning off the air conditioner during the day, can make a serious dent in utility bills. So can unplugging appliances, turning off lights, and shutting down computers at night. Even televisions can use power when they're turned off, so unplugging them when they're not in use saves energy.

13. Start making cleaning supplies from scratch. The Internet contains hundreds of do-it-yourself recipes; Jennifer Taggart's thesmartmama.com can get you started.

14. Find inspiration online. There are hundreds of personal finance blogs and websites; find the ones that speak to you and visit them regularly to help keep you on track. Popular options include Wise Bread, The Simple Dollar, and Centsible Life.

15. Give yourself a stress test. How vulnerable are you to sudden job loss or unexpected expenses? Do you have an emergency fund? If not, start building one. You should have at least three months' worth of living expenses in your bank account.

16. Work with family members. Sometimes, family members can help each other save more money by working together. You can also help out by gardening, doing housework, or sharing your computer skills.

INVESTING:

17. Begin investing today. Waiting to start a retirement account until you feel like you can afford it might mean that you can never retire. Don't put off opening a 401(k) account if your employer offers it, even if you start by contributing just 2 percent of your salary. Soon, you can raise that percentage to 4 percent, and eventually to 10 percent or higher. For extra motivation, plug your numbers into a retirement calculator on Bankrate.com, and see how much you need to fund your golden years--it's probably much more than $1 million.

DEBT:

18. Pay off your expensive debt, even student loans. Student loans that carry a 5 or 6 percent interest rate (or higher) are costing you much more than your savings can earn in this current low-interest rate environment. Paying off a chunk of your student loans will immediately start saving you more money than you could if you continue to make those slow-and-steady monthly payments.

19. Choose the best credit card for you. If you pay your balance off each month, you should have a card that gives you rewards points. If you carry debt, just focus on getting the card with the lowest interest rate. Most people have multiple cards that aren't suited to their needs. Pick the one that fits you best and stop using the other ones. Don't close them, though, because that can hurt your credit score.

20. Improve your credit score. The easiest way to do this is by making steady, on-time payments every month and otherwise keeping your accounts in good standing.

21. Make a plan for paying off high-interest rate debt. If you carry any credit card debt, auto loans, or high-interest student loans, it's time to come up with a plan for paying them off. With interest rates on savings account so low, it often makes more sense to unload your expensive debt rather than continuing to make interest payments.

RETIREMENT:

22. Know how much you need in retirement years. Run some numbers. Most people fail to calculate exactly how much they're on track to save, or how much they'll need, in retirement. Use free calculators from Bankrate.com.

23. Ramp up your retirement savings by a few percentage points. Those calculations might convince you that you need to start saving more. To keep anxiety (and a major budget crunch) at bay, increase your savings in small increments.

EARNING:

24. Invest in your career--even when you're being frugal (being economical or careful in spending) everywhere else. Investing in a career coach or development course can help you snag a promotion, get "unstuck" from a career rut, or transition into your dream job. Formal advice can come from meeting with more experienced colleagues over lunch or coffee.

25. Start earning extra money on the side. Many people don't realize they have valuable skills that other people are willing to pay for, such as a second language or even craft skills. To get ideas for how to earn extra money, check out the services section on Craigslist and see what people are advertising--editing, gardening, and event planning. Earning just a few hundred or thousands of rupees a month can help get you back on your feet, plus you'll get valuable job experience and the possible start of a successful small business that you can continue to grow.

26. Launch your own business. Have you always dreamed of being your own boss? Make this the year you start taking small steps toward that goal. Decide what you can sell, buy your website address, and consider taking on a few clients.

27. Use social media tools to boost your career. Making connections on Twitter, Facebook, and LinkedIn can enhance your overall profile in your field and strengthen connections that will come in handy when you're job-hunting. Many people err by not fleshing out their profile information on their social network accounts; start by adding more information about yourself, along with a photo.

28. Schedule creative time for yourself. Boost your productivity with scheduled downtime, in which you give yourself the freedom to brainstorm about new ideas and possibilities for yourself and your career.


GIVING:

29. Gift words of wisdom or good evening instead of expensive articles. When birthdays or other events come up, think about how you can give an experience, such as an afternoon at a museum or conversation over tea, instead of things.


30. Read a book or two to further educate yourself. Get some more in-depth knowledge" by traveling, reading, or volunteering. Studying up on your cause doesn't need to cost much money, but it will make you a more informed--and more effective--giver.

31. Talk with parents and siblings about any support you expect to give to them. It can help raise overall family saving. Giving doesn't relate only to charities; many people also support their aging parents and needy siblings. Make sure you understand what your parents or siblings expect from you, if anything, and that you can afford to provide them the support that they need.

32. Clean out your closet. Not only will you have a more organized space for the new year, but you probably have some valuable items--books, CDs, and games--that charities could make good use of.

33. Join forces with friends by forming a giving circle, a group of friends for any social cause for fun or an unforgettable joy.

Why?

Strange but true, most of us tend to ignore our friends for boyfriends/girlfriends.

The all goody-goody feeling of coming across somone of one's choice or beyond one's expectation often overwhelms the kind of attention or respect friends deserve.

No matter how much we pretend but we actually start ignoring or gradual minimising interaction with that very friends' circle, which may've stood by us in all seasons of life when we were aloof.

We wish these all-weather friends should learn to bear with our busyness or long vanishing-period without intimation at times. But do we wish the same treatment being meted out to us, if we required them in future.

It looks highly indecent of us, as we tend to act put off by those very individuals who have been the joy of our lives till we found this newcomer in our lives.

Also, at times, some of us even turn shockingly straight-forward, selfish or insensitive to others' desire of spending time with us like before over a cup of tea or loitering around in markets or meeting points like before.

We begin valuing our mood and ignoring others' joys. We don't give much value to others' concerns, wishes, or needs.

But what we fail to remember as the equally true fact is that these are the same friends, whose shoulders we desperately yearn for to share and sob by the end of the honeymoon phase of our brief love life.

My Lunch Box....

One of the most delightful joys of married life is to carry lunch prepared by one's wife.

I admit to have never allowed anyone to cook meals for me, as I maintained reservations about the mood with which someone other than my mother would prepare my food.

I have always believed in the age-old belief that the food must be prepared in good mood, with sense of love and care.

Sceptical of others' approach to prepare food for me and its impact on my mental health or nature, always guided me not to get it prepared by anyone other than by my affectionate mother's hands.

I always wished if there could be anyone other than my mother to prepare food for me, it would be my wife. That too, if I found she loved me by heart and not just words.

By the grace of God, thankfully, I have got such an affectionate wife in Pratibha who, I feel, can endure hardship for me.

Yesterday, she realised how she is actually missing a privileged 'work', for no reason and which could actually spread comfort and joy in her husband's life. She said, she would prepare food in the morning, despite her office.

I actually felt loved the way today she woke up early and prepared lunch for me. I felt her deep sense of care and affection for me while relishing each bite of Roti and Karahi Paneer with green salad today for the first time in last five months of my marriage. My trust in my darling wife's abilities increased today. I must say, she cooks deliciously, whenever she can.

It's raining jobs but...... I stand confused

I am a confused man today. There is a greed in mind to take up new opportunities, as they look tantalising.

A week before I decided to join new organisation I recieved a call letter from Orissa Post. My friend in Orissa says, it was a big opportunity, which I didn't take up as it required me to stay in Orissa initially.

The second one came from Economic Times. Only a month ago I had met the ET's Editor Partha Ghosh, who found me up to the mark to work in his organisation. But he wished that I stay at Gaziabad, neighbouring place of Delhi, to cover Gaziabad and Meerut. I couldn't agree to this requirement.

Recently, a senior journalist friend asked me to work for his Kolkata-based channel which is interested to open office in Delhi. Another senior journalist, who is like brother to me, wanted me to work for his news agency and earn good.

The latest opportunity came from IANS, the news agency and an organisation I always wished to work to enhance my writing-ability and excellence in journalism. I had appeared in a written test in this organisation a few months ago. It was for foreign desk and quite tantalising to me. They asked me to wait. But yesterday ( Dec.1, 2010) the head of the Foreign Desk wrote to me to come and meet him!

All this has left me so much confused, beyond explanation.

On one side is a relatively relaxing Media Consultant job at Morarji Desai National Institute of Yoga, Depart. of AYUSH, (Ministry of Health). About 50 percent increased salary, five days a week service with nearly a fixed schedule of 8 hours, besides Govt. holidays, felt too tantalising opportunity after a long stressful life at ANI.

The present job also allows me to give family due time, especially to my wife. We have been able to spend 24 hours together for the first time on Sundays in the last 15 days since joining the new job.

But the other side is the charm of working as full-fledged journalist and handling national, international news.

I feel like losing my identity as a journalist at MDNIY even if I am the incharge of Communication and Documentation wing and expected to acquire a profile of Executive Director, as mentioned to me by the Director here.

Suriender Kapoor, the man who runs ANI actually......

Thanks Sandeep. I came to know after you left. You are always welcome. Also I wish you great success in your future. You areA good professional and a very good in nature which everyone likes it.God bless you and please be in touch I am available 24hours.All the best.

Surinder
News Director, ANI
Nov.28,2010

The bigesst certification of my excellence and expertise in journalism as issued by Asian News International (ANI) on Nov.27, 2010.

TO WHOSOEVER IT MAY CONCERN

This is to certify that Mr. Sandeep Datta s/o Late Ram Parkash Datta was employed with M/s ANI Media (P) Ltd as a copy editor from May 10, 2005 to November 14, 2010.

During this period, he was assigned to work in the print division of the company. His responsibilities included sub-editing/copy editing news reports (national) and reports coming in from various parts of South Asia and features.

He was also given the special responsibility of making detailed features highlighting the positive steps taken by various state governments in promoting development of inhabitants residing in the Naxal belt of the country, besides features from the north east.

He was found to be disciplined and diligent in the work that was assigned to him during the period of his employment. We wish him all the best in his future endeavors.

Yours sincerely,

(I. Ramamohan Rao)

Chief Editor, ANI Media (P) Ltd.

I met Dalai Lama today!

I always wished to meet the Dalai Lama at least for once in this lifetime. The Nobel Laureate for Peace and one of the world's most respectful leader in the present time is indeed any intellectual or educated person' biggest wish. He is viewed as the biggest threat by China.

Never thought I would meet such a great personality like that. Suddenly and so unexpectely. But I did!!!

My Director at the Morarji Desai National Inst. of Yoga (MDNIY), my new workplace, suddenly called for me today and directed me to escort Swami Dr. Parmanand, Vice Chancellor of Ram Krishan Mission University, from India Habitat Centre at Delhi's Lodi Road.

I was irritated to do such kind of unjouralistic work for the first time. I visited the place and after a bit of search, finaly located him at the sixth floor of Guest Building of India Habitat Centre.

I knew he was to attend some function here with Tibetan's Spiritual Guru Dalai Lama. But I least expected both of them would be having lunch together. I tried to approach Swami ji after they were done with their lunch. But he was busy with other guests present on the occasion.

Suddenly , I notice Dalai Lama was also leaving the place. Everyone was standing in line in his honour to say bye to him. I noticed him shaking hand with a Tibetan butler even, who bowed before him in deep respect for his country's God.

I was hesitant till I saw the Great Dalai Lama even shaking hand with that butler without any discomfort. Suddenly , I gathered courage and clicked him through my mobile. And, the moment he turned towards me as he approached the door, he noticed me standing there with a big smile.

He came closer to me and perhaps believing me to be one of the guests in that dining hall, bowed as a Buddhist courtesy to accept my greetings too. He held my extended hand for three to four seconds firmly with his large and Dunlop-palm and said: "Thank You Very Much" with a smile on his face. Both of us bowed to each other while holding each other's hands and he left the place.

He left me without words!

Never expected the most wished thing could happen just like that ever. That too Dalai Lammmmmmmmaaaaaaaaaa!!!

Life in Morarji Desai National Institute of Yoga (MDNIY) is a distinct experience altogether from Asian News Internatinal (ANI), the news organisation I worked with for over five-and-a-half years.

It revolves around a Director and Yoga. Others exist here as non-entites. Most of the people that I have come across here are happy doing what they have been doing for ages.

Though it's an autonous organisation but the style of working here is typically Sarkari. Except for a committed Director, most of the people are unusually content with their work and happy to ensure that they are not facing the music for any of the assigned responsibilities. Everyone here passes the buck on other and the other person on some other.

I have been given the charge of a learning centre for yoga, a dream project of the Director Dr. I. Basavaraddy. He wants results and remains busy pushing people here to justify their salaries. People fear him for the simple reason that he demands results.

He talks straight on the face but still maintains respect while speaking to anyone.

Thank God you made me quit ANI on a good note......
(the original piece will be posted later)

Yes, I quit Asian News International (ANI) finally on Nov.15, 2010. That was my last day there. I was myself in a doubt, whether I would ever be able to see or imagine myself living beyond working at ANI ever.

My decision surprised many of my well-wishers as they learnt that I quit to join as media consultant at Morarji Desai National Inst. of Yoga (under Depart. of AYUSH), Ministry of Health. It felt surprising also because I opted to not explore or utilise the available options of working in TV channels or rival News Agency and even Economic Times!)

I know I disappointed many a people as much I disappointed the journalist in me. But , at the same time, my decision did delight all those who knew about the untenable circumstances I was working in for such a long time.

It will not be complete truth, if I said that I changed it for the sake of new opportunity.

It is worth mentioning here about the work profile I was assigned in ANI to evaluate my worth for Print Media section of ANI.

In the last five years, I was made the sole incharge of Feature stories of ANI's print media section, the incharge of late evening shift happened two years ago.

On the last day, as an ANI employee, my profile comprised being responsible for Jammu and Kashmir's stories, North East stories, Jharkhand, Chhattisgarh stories, writing Ministry of External Affairs's Exclusive Feature stories, handling all political, and international stories related to President, Prime Minister, and External Affairs Minister's foreign visits, Sports (Commonwealth Games's opening ceremony and closing ceremony related all stories).

Ashok Dixit, my immediate boss and News Editor, threw a farewell lunch for me at a fantastic hotel in Green Park and my main boss that I respected the most all these years, Mr. I. Ramamohan Rao, threw another farewell party at the renovated Karnataka Sangha, in R.K.Puram after two days. The gesture of both the bosses touched my heart immensely.

It was a farewell worth remembering forever for its sincere gesture. Honestly stating, I least expected it !.

Regards
Chaudhary Sandeep Datta

Has Booker Prize offered Arundhati Roy a liberty to rise above law?

By Chaudhary Sandeep Datta

The Government of India looks justified in upto an extent by not letting the popularity monger writer Arundhati Roy gain the so called ‘Kashmiri martyrs’ status be geeting arrested under sedition law.

It’s a common knowledge that such moves by authorities, even if it may include slapping a case against them, only serves to such persons’ pre-set personal objectives.

Painter M.F.Hussain who made naked drawings of Hindu Goddesses, Bangladesh writer Tasleema Nasreen giving an inflammatory description of situation in her native country, and Salman Rushdie insulting the Koran through Satanic Verses have been a few such popular examples in the recent past.

Arundhati seems to be treading the same path to achieve controversy-driven fame. Such individuals are well aware of their unofficial ‘liberty’ that protects them from Government action for a long time, if not forever. As they are in regular notice of the world of the intellectuals, who are always ready to lend ‘support’ to such ‘voices of revolt’ at the drop of hat.

But the educated class of the country and the information-seekers across the world need to know what the Man Booker Prize winner novelist Arundhati Roy is doing by such a liberty granted as the Freedom to Speech and Expression to all Indian citizens under Article 19 (A) of the Constitution of India.

Despite high concerns over writer Arundhati Roy’s ‘call for justice’ speech delivered in Delhi recently, it looks she is hard bent on provoking the minds of the people in Kashmir to break free from India and patting them on their back for indulging in stone pelting against security forces.

It shouldn’t surprise anyone if a group of such provoked minds end up becoming militants or going on burning more public or private buildings.

Roy, who was in Srinagar till last reports about were received, once again attempted to dare the Central Government and its powers to control the voice that indirectly provokes and hails people seeking disintegration of States.

Roy, who has been vociferously advocating the cause of Kashmiris and other minorities in India minced no words in accusing New Delhi of waging war against minorities.

“In Nagaland, the troopers have been targeting Adivasis, in Telangana Dalits and in Punjab, they target Sikhs. India is an upper caste Hindu state that is certainly at war with minorities. It has waged a protracted war in Nagaland and Kashmir to force inclusion of people into its system,” The Kashmir Observer quoted Roy as saying on October 24.

Provoking the local people against Indian establishment further, Roy stated that Kashmiris recruited in the army and paramilitary forces are being used to suppress the voices of dissent in the Northeast and other states. “I was heart broken when I saw Kashmiri BSF personnel in Dantewada. Mothers in Nagaland recalled their kins who were posted in army and other security agencies. I urge Kashmiris to ensure that they are not used to as tools of suppression,” the report stated Roy as saying.

Hailing the role of Kashmiri women in the ongoing movement, Roy asked them to contribute to the struggle in one way or the other. “Kashmiris have been breathing and inhaling through the barrel of AK 47.”

She was speaking at a seminar in Srinagar on “Whither Kashmir? Freedom or Enslavement” organised by the Coalition of Civil Societies.

Roy, during the seminar, said that the Indian state was mimicking colonial powers in its policy of divide and rule, and had launched a protracted war in Kashmir.

An outspoken critic of corporate narratives of events and issues, Roy said that India was a cage in which millions of people of different nationalities were held against their will.

“I believe Kashmir is not an integral part of India. It is a historical fact,” Roy said, hailing stone-pelting youth “for taking the Kashmir movement to a decisive phase.”

While provoking youngsters, Roy said that the events of the past four months had changed the opinion in India. “The people of India are now showing a willingness to talk Kashmir,” she said. “This, in my opinion, is the greatest achievement of the past four months.”

“Resistance is a beautiful thing. It is high time for Kashmiris to set goals for Azadi and steer the movement,” she said, adding: “Your struggle has raised the consciousness about the Kashmir dispute and the oppression you face. But you must decide what type of society you have in mind once you are allowed to decide your future.”

“Kashmiris will have to make a choice whether or not they want Indian oppression to be replaced by a future corporate oppression,” Roy stated.

After reading her reported statements in Srinagar, one tends to question if winning a coveted prize allow a person in India to rise above law? Perhaps, Arundhati would have met with a different fate at the hands of law had she been in China. Long live Indian democracy!
--
Regards
Chaudhary Sandeep Datta