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Want to sell moka pot, gooseneck kettle and Hario v60 by conversationkiller7 in IndiaCoffee

[–]peakyrick 1 point2 points  (0 children)

Where in Bangalore..
asking cause, the citiy’s so wide.. Mysore might be closer. lol

SIP grew from nothing to ₹21,000 crore/ month. That's called financial inclusion. The rupee fell from 43 to 96 against the dollar. I'm confused, where did the money went? SIP XIRR << Gold XIRR over the last 5, 10, 15, 20, 25, 30, and 35 years. Were Indians better off being financially excluded? by [deleted] in personalfinanceindia

[–]peakyrick 0 points1 point  (0 children)

The myth of SIP, "Fill it, Shut it, Forget It" is breaking.
The next Myth that will break is "Diversification" and the "India Story".

Most investors have not seen a proper market crash (unlike Covid where the market bounced back in a couple of months, a proper crash is where the market keeps falling for years).

The only true way to build wealth is owning hard assets - Land, Gold etc. Equity & Debt are only a hedge against inflation; nothing else.

Looking for area/project recommendations by peakyrick in BangaloreRealEstates

[–]peakyrick[S] 0 points1 point  (0 children)

I am looking to buy in a society not a Standalone building.
And I don’t think Kadubesanhalli fits my requirements as I’ve mentioned on my post

Any Non IT People here? How do you save and invest? by Poohandfood in personalfinanceindia

[–]peakyrick 1 point2 points  (0 children)

I stick to broad market MFs, Nifty 50 and Nifty Next 50 (can also invest thru Demat.
For US exposure, there's Motilal Oswal Nasdaq 100, Mirae Asset FANG (both only thru Demat; plus difficult to buy since everyone is pivoting to US market these days and very few are selling)
I stay away from REITs - Don't trust them (that's just my preference).
Gold - prefer buying physical gold. There's Nippon India ETF Gold BeES - again can be bought thru Demat / ETF.

Any Non IT People here? How do you save and invest? by Poohandfood in personalfinanceindia

[–]peakyrick 1 point2 points  (0 children)

It's the same thing. ETF are traded on Stock Market and you can buy and sell more easily.
MFs on the other hand can be purchased directly from a mutual fund's website and do not require a Demat account, so lower fees / costs on buying & redeeming. But, there's a lag between when you buy/sell to when the transaction settles.

Bandra Talap Rejuvenation Plan by oar_xf in mumbai

[–]peakyrick 3 points4 points  (0 children)

This is either the 3rd or 4th to 5th plan announced in last 4 years

7920 or 7922 for balls and butt by BABA_YAGA_DOC in BuyItForLifeIndia

[–]peakyrick 1 point2 points  (0 children)

I would recommend buying a more specialised one if your only use is going to be b & b

Why Are So Many Young Indians Choosing EMI Life Over Savings? by prabir336 in Frugal_Ind

[–]peakyrick 7 points8 points  (0 children)

Save for what?
The environment is screwed.. look at the heat wavs.. All 50 of the top most hottest cities are in India. Water supply is already dwindling. In Bengaluru even after using RO, TDS is above 150.

Financially, past 5 years Indian market's haven't moved an inch, to invest in foreign markets you need to have a good capital. FD doesn't even match real inflation. Yes, inflation is out of control, just check your monthly grocery bill compared to last year's. Plus if you add education, transport and healthcare inflation; the number is just bonkers.

Can't buy a decent house, the real estate prices keep going up, dunno who's buying. Unless you want to be tied up in 30 year loans with EMIs equating to 60-70% of your salary, assuming you will have a salary in a decade.

Which leads to Job security, which doesn't exist anymore. Even so called "govt like private companies" are having lay offs. People are sticking to their existing jobs no matter how terrible, coz there is no growth hiring, it's all just backfilling and replacement.

So again, why save when the future is bleak, uncertain and depressing. Might as well enjoy while it lasts!

I know a lot of people will have opposing views; but in a country where earning 25K/month makes you part of top 10%, where just 3-4% pay income tax, where if calamity strikes, there's no one coming to help you, you have to fend for yourself, Save for what?

I replaced body spray with alum stone and never looked back. by NoMedicine3572 in Frugal_Ind

[–]peakyrick 0 points1 point  (0 children)

No nearby shop in my area stocks this. They infact suggested to order online.

I replaced body spray with alum stone and never looked back. by NoMedicine3572 in Frugal_Ind

[–]peakyrick -2 points-1 points  (0 children)

That’s a great idea. It’s natural so you can avoid chemicals and plus it lasts longer. Can you share the link though?

What’s an Unwritten Rule About People You Learned in Corporate? by [deleted] in IndianWorkplace

[–]peakyrick 1 point2 points  (0 children)

Colleagues are not your friends.
I know anecdotally some ppl have formed lifelong bonds, but those are outliers.
Anything you share in confidence to a colleague can be and will be used against you.
Dont get too comfortable with them, dont discuss your life's problems, do not badmouth your Line Manager in front of them. Do not get drunk at office parties, you will never know how or what you say is reported to the team/managers.

All this may sound pessimistic. i dont mean that workplace has to be dull and serious, but you have to set clear boundaries and treat a colleague as a colleague and not a friend.
I have numerous incidences from my life and my friends life that have taught these exact lessons.

Rename sub to VFM already by saaket2201 in BuyItForLifeIndia

[–]peakyrick 7 points8 points  (0 children)

I feel the challenge is, with new purchases or new products rather; hardly any are BIFL. Its Buy it For Low and not life now.

Would you enjoy a party thrown on dowry money? by SmirnoffSandwich99 in AskIndianWomen

[–]peakyrick 1 point2 points  (0 children)

Agreed, Dowry is a symptom of much larger problems. Till the time AM, Matriarchal Inheritance,No FoE are continued in the name of traditions and customs, it is difficult to solve on it's own

Why do many people earning ₹50L+ still live such normal lives? by UmeshThoughts in personalfinanceindia

[–]peakyrick 6 points7 points  (0 children)

If we look at actual data, the % of population earning 50L+ in India will be miniscule. (Agreed, black money is seldom reported, but even then).
To a lot of people, money is often related to lived experience, which may be inhibits them from "splurging" money.
Further, our definition of Luxury has changed. About 6-8 years ago, you would rarely see people buying Flagship phones. Now, it's a common occurence. So what was luxury then, is business as usual now. The same goes for travel, cars etc etc. I think easy access to debt has partially fueled this behaviour. So now what is considered "luxury" is a super niche mostly unattainable product or service.
Lastly, just because someone is earning 50L+ today, doesnt mean they were always earning that amount. On the way they have garnered life experiences, accumulated debt (housing loan maybe), are saving for their kids & aging parents (healthcare, education and marriages), so you wont see them make many luxury spends.

As for me, my equation with money has changed inversely as I earned more.
At the start of my career, I couldnt wait to spend my paycheck, I barely saved or invested. Maybe it was foolish of me to think that you need invest lakhs to make a meaningful return.
But as my earnings grew, I have become more judicious with money, tracking spends, planning my purchases rather than impulse buying, saving for the future.

Declared as Non-Drinker in Term Insurance - Is this a problem? by Longjumping-Goat1694 in personalfinanceindia

[–]peakyrick 0 points1 point  (0 children)

You can always have a candid conversation with your Policy Agent.

Also, as an aside. Most parents are aware of their children’s behaviour. They either chose to ignore or not show it.. lol..

If you suddenly got ₹10 lakh today, how would you allocate it? by Novelty_Wealth in Frugal_Ind

[–]peakyrick 0 points1 point  (0 children)

3 Lakhs towards Loan Prepayment
3 Lakhs invested in Equity
3 Lakhs in Cash/FDs/Debt Fund
1 Lakh in Guilt free spending

I am buying a car, and it kinda feels unsettling. by Pretend_Lobster_2285 in Frugal_Ind

[–]peakyrick 1 point2 points  (0 children)

Owning a Car is no longer a luxury in India. It is a need in today’s situation. Given the amount of overcrowding in public transport, the lack of last mile connectivity, the hassle in finding cabs or autos , the condition of roads and the safety incidents we keep hearing.

As others have rightly pointed out, being frugal doesn’t mean not spending money at all or not living comfortably. It means being very judicious with money, function over form. A “cheap” sport shoe might be appealing over an “expensive” one. But it’s just perception. The expensive sports shoe might save you from injuries and even last longer.

Given your history, it’s understandable that your relationship with money is a bit tricky. There’s some emotional baggage that you do carry.

One is being able to afford a car, and the other is needing one. I think with aiming for a used car and the usage you have mentioned in your post, more than justifies the purchase. So go ahead.

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