Top 8 Money Tips For Nr Is

Submitted by: Rajendra Bhatia

NRIs, have you ve been toiling hard to rake in that extra bit but unable to fathom where all your money disappears by the end of the month? Chances are there s a money leak. Fix it right away with a financial budget says Geeta Nair before your expenses balloon to unimaginable proportions leading you to a debt trap.

A financial budget can help you set your finances in order. It s all about personal finance. And it ll help you allocate your income appropriately among your needs, wants and desires enabling you to meet your financial goals easily.

Here s how NRIs can go about managing their finances:

Ascertain your total income: Jot down all your sources of income. Apart from your regular employment, your part time jobs, dividends, interest income from investments are all sources of income. Total them all.

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Save at least 20% to 30% of your gross income: Says Kairav Shah, Vice President, Personal Finance,, Make it a point to set aside 20% to 30% of your total monthly income towards savings always. Leave this money untouched. And depending on your age, goals and risk profile invest this amount in mutual funds, equities, fixed income among others.

But then do you have a good support system in place? For instance if you re living in places like Australia wherein children s education, retirement, health are supported by the government there s not much to worry. States Shah, If you re covered under a social security in whichever country you reside, you may reduce the said percent by about 5%.

Buy property at the earliest: NRIs, buy a home at the earliest wherever you stay outside India. Opines Shah, Most NRIs make the biggest mistake of not buying a home in the foreign country they stay and continue to live in rented apartments for long periods. You must consider buying a home at the earliest. This is because over a period of time property gets expensive, and if you continue to wait, back home too you ll not be in a position to buy on your return after several years since by then the same may get unaffordable. You d lose out both ways. Besides real estate investment in India is important too.

Are you spending on a need or a want? Paying up your monthly rent, electricity and grocery bills are all needs you can t do without. But you can surely cut down on your several outings at expensive restaurants and shopping sprees that burn a deep hole in your pocket.

With several malls around convenience is in, no doubt. But think. Are you buying goods that you really need or are you following herd mentality? Have you used that food processor you bought last Christmas or is it still lying in a sealed pack in the corner of your kitchen unused? Analyse your past purchases and you ll know your spending habits.

Put off impulse purchases: Do you go berserk when you hear of heavy discount offers, free gifts and cashback schemes. Stop! Simply put off impulse buying. That buy-one get-one free offer may not be as good as it seems. Besides, give a thought do you really Need that shirt now or do you Want it because it simply appears to be a good offer?

Follow the 60:30:10 ratio: Try maintaining a ratio of 60:30:10 between your needs, wants and desires. Maintain a list of each of your expenses howsoever insignificant they may seem. And you ll know how much you ve ended up spending on items you don t really need. Segregate the fixed and variable expenditure. While there s not much you can do with the former, you can easily fine-tune your variable expenditure.

Contingency fund is a must: Financial emergencies such as loss of employment, illness in the family, accidents etc can spring up unpleasant surprises just anytime. You need a contingency fund that can take care of sudden financial needs. Opines Shah, “Keep aside three to six months of your income for emergencies. And you won t have to dip into your savings in case of a financial crisis.”

Stick to your budget, review regularly: Creating a budget is easy but its hard to stick to it. Ascertain each time how closer you have been to your laid out plan. Make necessary changes wherever needed, fine tune and stick to your budget always come what may. Do a review to find out how far you re on track and whether there is a diversion at all. If yes, make up for the same in the next month and soon you ll be on the right track to achieving your goals.

About the Author: Rajendra Bhatia (

)-A Certified Financial Planner, Investment Advisor & CEO of Arthashastra Financial Planners,Located at Mumbai. Having more then 15 years of industry experience & a passion to create personalized,efficient & effective solutions in the space of personal Finance.


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How To Eradicate Bed Bugs?

By Penny Lane

Bed bugs are one of the pests that cause great nuisance and pain to its hosts. Since many years, people have been facing the problem of bed bugs. The bed bugs trouble becomes a big one as people do not know how to get rid of them. They use products that never show the promised result. It is best to contact exterminators for bed bug control.

When bed bugs are in your house, it becomes hard to find the best solution. The nature they have compels them more quickly and they occupy the places more rapidly. Let us study the size, structure and the behavior of bed bugs. It will help you understand how they get into action:

A mature bug is often in a size of 2-5 inches. They have tiny structures and this helps them to retain their survival up to the end. This is advantageous for them to be obscured in places where it is hard to reach which means they are good at hiding. You cannot even imagine how quickly they grow. You don’t know that a simple hole in any wall of your house may be containing thousands of bed bugs inside. Both young and adults feed on blood. It is the diet they prefer for their appetite. Once the juveniles are raised they become a sign of great pain. So try to eradicate them in their initial egg stages.

Bats are another type of bed bugs, it comes out in night and if there is a chance it also try an attack on human’s blood. These are not particularly the bed bugs but more specifically a kind of species of the bed bugs as they also feed on blood.

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Bed bugs prefers the night time, as they love to crawl out when there is silence all around. They come out in the quiescent and feed on human blood to overcome their thirst. Mentioned below are two steps to get rid of bed bugs.


The first step of prevention is the clear and vigilant inspection. Try to seek into every area where you suspect the presence of bed bugs. Check all the crevices, fissures, cracks and holes in the walls of your house. Check the furniture, power areas, electric boards, carpets, curtains and clocks on the walls. They also try to hide in the kitchen cabinets. Once you are satisfied with the inspection, move on to the next action of eradication.


There are effective insecticide sprays available in the market. You can buy the sprays in reasonable rates. Also buy the insecticide powers and dusts for the cervices or unreachable locations. Try to spray every spot where you suspect the presence of bed bugs. For places like crevices or fissures, you can use the powdered pest control product. While spraying keep in mind that all the eggs are destroyed and every adult is eradicated, because if there is one remaining it can grow into thousands in just a matter of few hours. If you still are facing any problem, just call out the experts. They know how to deal with the tiny machines in a more effective way.

About the Author: Penny Lane has often called on the expertise of

Knoxville exterminators

to treat her large office facility. She has consulted a

Knoxville bed bug control

expert to research an article she is writing about the subject.


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