Let Deepavali be the hard deadline for your money box reset

Notice that when there is an external date marker, we end up doing things to service that date. Take birthdays, anniversaries, exams and deadlines around work. Exam and work related deadlines specially see us working at all hours with a single focus—of cracking that exam or shipping that order. We do the same when there is a deadline around filing taxes or making tax-saving investments. But most other items on our must-do list, like a health check-up, regular work out and money management, keep getting bumped to the next week, month or year. I’ll do it when I have, fill in the words ‘time’, ‘mindspace’, ‘money’ in the space, and we have our reasons in place for postponing one more time things we know we need to do but don’t since there is no hard deadline.

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The limits of popcorn pricing at multiplexes

As the security woman at the entrance to a multiplex turns my hand bag inside out giving competition to an airline security check, she gleefully hits pay dirt. Not a small grenade, she’s found my bottle of gum and my tiny jar of dry fruit. No food allowed. But this is not food, it is something I carry in my bag all the time. An argument ensues and the movie experience is reduced. Once inside the complex, I find myself unwilling to pay exorbitant prices for average quality food that is pushed hard by ushers-turned-waiters who come in the way of movie watching.

What food costs inside a multiplex is suddenly part of the urban middle class discourse at dining tables, at social events, on social media, with the humble popcorn itself at the core of this debate. Popcorn in a multiplex costs about 500% more than what you get outside in the mall. Pop them at home, and the mark-up is more than a 1000%. While there is other food and drink being sold that is more expensive than retail prices outside, the price point of popcorn shows the highest mark-up. To force sales, multiplexes prohibit outside food from entering their premises, making for a captive consumer group who is out to have a good time and is in a mood to eat, drink and be entertained.

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Let’s Talk Money. Swarajya reviews my book: If There Is One Guide You Need To Fix Your Personal Finances, Here It Is

Super review by R Jagannathan in Swarajya magazine.

 

“This may be an overstatement, but it is probably true that most Indians are bad at managing their personal finances. And one is not talking only about people who use their credit cards as if there is no tomorrow, go for inappropriate insurance policies, invest in real estate or gold for the wrong reasons, buy stocks on the basis of inside information, or people who generally don’t save for their retirement till it is almost too late.

The truth is, even the financially literate, people who dabble in money day in and day out, can sometimes make huge mistakes based on ego – I know what I am doing; after all, I give others advice on where to put their money. I know, for I was one of them. I invested large sums regularly in the National Pension Scheme (NPS) on the assumption that no law would be daft enough to tax 100 per cent of withdrawals on maturity (usually at age 60, but which can be extended); I assumed that the tax, at best, would be on the gains made on my investment. Well, I was wrong, and ended up losing money on the NPS a year ahead of the time when taxation on withdrawals was made more rational.”

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