The inflation is here to stay for some time now says the RBI, the apex bank of the nation. this means there is going to be a lot of additional burden on the pockets of the consumers. Well this is not whats really worrying as compared to the topic of my current discussion. There is another significant phenomenon that is creeping into our economy. It is commonly known as the lifestyle inflation.
Let us try and understand what lifestyle inflation really mean and how it is affecting our lives. The pockets of the vast middle class that rules the nation have vastly expanded in the last few years to come. Well, that isn't much news, it is, the expenditure has increased too and in equal proportion. This is more of psychological phenomena rather than a physical one. It is a simple phenomenon that affects our thinking process.
We desire for the bigger and better standards in living than we have. As the income increases the desire for expensive goods and luxuries increase in the same proportion. The hole in our pockets never gets mended rather it only increases in size, the increase being directly proportional to the income increment. So to say, the level of satisfaction is always an elusive higher level. Once we attain this higher level, it is raised to a still higher level. So to say the satisfaction is always beyond reach. A person first desires a two wheeler, if he gets it, he would still not be satisfied as he would now possibly desire a car.
There are many reasons for the lifestyle inflation spreading its wings higher and encompssing the greater number of the populace under its spread. There are many contributing factors to aid this phenomenon. The first and the more prevalent being the peer pressure. Lots of people in the urbane middle class of the new emerging genre buy branded clothes and expensive watches either to boast their fortune or due to sheer pressure to move with the society. It is for the similar reasons that they buy Cars or hold credit cards to sport their wealth. It doesn't matter even if they have to borrow exorbitant loans for the purpose.
Another reason is that the goods that were within affordable limits have creeped upwards slowly in terms of cost, so now not only are the branded and luxury items costly, but, so are the items of daily use and absolute necessity. The problem arises here, where the societal pressure coupled with the rising costs pushes the individuals to live beyond there monetary limits.
Lifestyle inflation is more of a self imposed problem rather than being caused by the physical pressures, the latter may of course be the contributory factor to some extent.
Its time we anlaysed our budget and accordingly took some actions to fight out the lifestyle inflation affecting our lives
Wednesday, August 27, 2008
Make your dream home a reality- some tips
Home Sweet home, the most welcome place, a refuge from the worries and problems of the world thats locked out.
Owning a home that belongs completely to you and your family is a dream that is nurtured so passionately by the millions, who are trudging along, struggling with their lives to earn a decent living, to own a home, a place where they can feel secure, where they can enjoy and share the good times of their life and where no one is going to bother them with the rent agreements and rent payments or threaten to throw them out if they fail to pay back on the appropriate date.
However, not everyone manages to buy beautiful villa of their dreams. Of course dreams are different from reality, but that doesn't mean that we live through a nightmare after spending our lifetime earnings on something that is meant to spend the rest of our lives in. All I mean here is that we can keep in mind few important points before we finalise our house deals rather than deal with the nightmare of coping with the many shortcomings that would present them when we did not anticipate any.
When you start looking for a house, you must first decide on the amount that you can afford to spend on buying yourself a decent house, that would ensure you a comfortable living. Here you must keep in mind that buying the house is not an end to it rather it would lead you to certain other eventual expenses like furnishing, maintainance, society transfer charges etc. So your spendings must be in accordance, keeping in mind the future contingencies. A good idea is to get your loan sanctioned for the desired amount prior to beginning the actual hunt for your house. This would surely ensure your budget limits.You need to first compare the interest rates of the various loans available, before arriving at the final decision.For this now online help is also available on sites like www.paisawaisa.com. Once decided you must start looking for the house.
You would realise that the market has a wide range of choice available for you. There would be at least a hundred builders on your heels, trying to persuade you that theirs is the best option to invest in. Also be beware of those, who try to entrap you into a bargain that would be far above your own budgetary allocations. Remember no builder is interested in your welfare, rather they are interested in your money, so make your decision wisely.
Consider the following points properly before taking any final decisions on buying any property.
You must have good look into the house, check it out for the leaks in the ceilings or any where else, water fittings and supply of water, in the bathrooms and the kitchen. Space in the wardrobe, store rooms, electricity supply, lighting arrangements, general condition of the flat, availability of a parking space etc. The most important thing is to make sure there is a good security system in place.
An in depth survey of the location of the place is equally important. Find out for yourself the distance from your workplace, availability of good school, market and hospital in the vicinity of the location, accessibility to public modes of transport and connectivity to the city/ town.
You also need to study your neighborhood really well. Talk to the people residing nearby and try and understand their views and ideologies, problems faced by them etc. Your aim should be to get an in depth insight into their basic nature and ideologies. Everyone wants to live next to good and helpful neighbours, as they re the first ones to be in position to help you in times of need.
Another important factor is to keep in mind is the reputation of the builder, to assure yourself that you are dealing with a genuine person and your relationship with the builder in the process of purchasing the house and afterwards is going to be a pleasant one. Also you are assured of the fact that what you would end up buying would be a genuine property and there would be no legal implications attached.
Finally while taking possession of the property make sure that all the documents are complete and appropriate with the ownership being registered in your name. If needed do not hesitate to take help of a lawyer to assure yourself that no legal implications arise after you gain possession of the property.
Owning a home that belongs completely to you and your family is a dream that is nurtured so passionately by the millions, who are trudging along, struggling with their lives to earn a decent living, to own a home, a place where they can feel secure, where they can enjoy and share the good times of their life and where no one is going to bother them with the rent agreements and rent payments or threaten to throw them out if they fail to pay back on the appropriate date.
However, not everyone manages to buy beautiful villa of their dreams. Of course dreams are different from reality, but that doesn't mean that we live through a nightmare after spending our lifetime earnings on something that is meant to spend the rest of our lives in. All I mean here is that we can keep in mind few important points before we finalise our house deals rather than deal with the nightmare of coping with the many shortcomings that would present them when we did not anticipate any.
When you start looking for a house, you must first decide on the amount that you can afford to spend on buying yourself a decent house, that would ensure you a comfortable living. Here you must keep in mind that buying the house is not an end to it rather it would lead you to certain other eventual expenses like furnishing, maintainance, society transfer charges etc. So your spendings must be in accordance, keeping in mind the future contingencies. A good idea is to get your loan sanctioned for the desired amount prior to beginning the actual hunt for your house. This would surely ensure your budget limits.You need to first compare the interest rates of the various loans available, before arriving at the final decision.For this now online help is also available on sites like www.paisawaisa.com. Once decided you must start looking for the house.
You would realise that the market has a wide range of choice available for you. There would be at least a hundred builders on your heels, trying to persuade you that theirs is the best option to invest in. Also be beware of those, who try to entrap you into a bargain that would be far above your own budgetary allocations. Remember no builder is interested in your welfare, rather they are interested in your money, so make your decision wisely.
Consider the following points properly before taking any final decisions on buying any property.
You must have good look into the house, check it out for the leaks in the ceilings or any where else, water fittings and supply of water, in the bathrooms and the kitchen. Space in the wardrobe, store rooms, electricity supply, lighting arrangements, general condition of the flat, availability of a parking space etc. The most important thing is to make sure there is a good security system in place.
An in depth survey of the location of the place is equally important. Find out for yourself the distance from your workplace, availability of good school, market and hospital in the vicinity of the location, accessibility to public modes of transport and connectivity to the city/ town.
You also need to study your neighborhood really well. Talk to the people residing nearby and try and understand their views and ideologies, problems faced by them etc. Your aim should be to get an in depth insight into their basic nature and ideologies. Everyone wants to live next to good and helpful neighbours, as they re the first ones to be in position to help you in times of need.
Another important factor is to keep in mind is the reputation of the builder, to assure yourself that you are dealing with a genuine person and your relationship with the builder in the process of purchasing the house and afterwards is going to be a pleasant one. Also you are assured of the fact that what you would end up buying would be a genuine property and there would be no legal implications attached.
Finally while taking possession of the property make sure that all the documents are complete and appropriate with the ownership being registered in your name. If needed do not hesitate to take help of a lawyer to assure yourself that no legal implications arise after you gain possession of the property.
Subscribe to:
Posts (Atom)
Posts
