Comments for Super Indian Mom http://www.madhuriesingh.com/superindianmom Reviews of products and lifetstyle talk Mon, 28 Mar 2011 18:15:21 -0600 http://wordpress.org/?v=2.8.4 hourly 1 Comment on How to save more money and why to get rid of loans? by Madhurie Singh http://www.madhuriesingh.com/superindianmom/index.php/2011/how-to-save-more-money-and-why-to-get-rid-of-loans/comment-page-1/#comment-23 Madhurie Singh Mon, 28 Mar 2011 18:15:21 +0000 http://www.madhuriesingh.com/superindianmom/?p=261#comment-23 That's a great view and respect your analysis. I do not know the nitty gritty and would not want to get into it. No my loans two loans and very fresh hence already closed the moment we got some extra funds. The bigger homeloan is what I am very soon planning to offload as I did the calculations that basically I am not an investor mind set. Howmuchever I wish I should and could and want to be. So the only good investment I can see is land or property that too as much possible cash. And then reap in the income through that property. Like you said the income generating assets. I personally have no great respect for banks as I have seen their tricks and treatment the moment one is trying to preclose as opposed to take a loan. I would stick to my guns and advice people to keep paying up their loans as quickly as possible without getting too much into the who benefit and who does not. Trying to first offload the highest interest rate loan first and then the lower rates ones. Loans when used as a way to earn more by reducing the tax burden is for those who really are investors and have already one or two flats or income generating assets. Another way is to make use of the FAST TRACK accounts that backs do not propagate much about. This is an account where you can park your excess money whenever you get them. The EMI duration starts reducing as the amount parked is considered as Parked Principal. Only on the remaining principal interest is accrued. And very soon you can have a non EMI days With your money parked safely. But one must remember that the moment this account is debited, the EMI starts again. SO again, better to offload this loan too. Yes I am aware of the fraction of interest and principal as if you remember I have done a very good excel sheet which is like a consultant to me always. That’s a great view and respect your analysis.
I do not know the nitty gritty and would not want to get into it.
No my loans two loans and very fresh hence already closed the moment we got some extra funds.

The bigger homeloan is what I am very soon planning to offload as I did the calculations that basically I am not an investor mind set. Howmuchever I wish I should and could and want to be.

So the only good investment I can see is land or property that too as much possible cash. And then reap in the income through that property. Like you said the income generating assets. I personally have no great respect for banks as I have seen their tricks and treatment the moment one is trying to preclose as opposed to take a loan.

I would stick to my guns and advice people to keep paying up their loans as quickly as possible without getting too much into the who benefit and who does not. Trying to first offload the highest interest rate loan first and then the lower rates ones.

Loans when used as a way to earn more by reducing the tax burden is for those who really are investors and have already one or two flats or income generating assets.
Another way is to make use of the FAST TRACK accounts that backs do not propagate much about. This is an account where you can park your excess money whenever you get them. The EMI duration starts reducing as the amount parked is considered as Parked Principal. Only on the remaining principal interest is accrued. And very soon you can have a non EMI days With your money parked safely. But one must remember that the moment this account is debited, the EMI starts again. SO again, better to offload this loan too.

Yes I am aware of the fraction of interest and principal as if you remember I have done a very good excel sheet which is like a consultant to me always.

]]> Comment on How to save more money and why to get rid of loans? by punekidz http://www.madhuriesingh.com/superindianmom/index.php/2011/how-to-save-more-money-and-why-to-get-rid-of-loans/comment-page-1/#comment-22 punekidz Mon, 28 Mar 2011 06:01:36 +0000 http://www.madhuriesingh.com/superindianmom/?p=261#comment-22 Madhurie, First of all its a nice post. But let me point out some basic assumptions. The banks deduct very little of the principal in the first few months of the loan, and a huge percentage of the EMI goes towards the interest part of the loan. So when you are already 50% of the tenure of the loan, your total payments made have contributed only 20% towards the principal and 80% towards the interest. Hence you have already benefited the banks. By paying lumpsum for rest of the principal you are again benefitting the banks. In fact its your chance to “rob” the bank. I see this mistake made often by people in "Indian IT companies". First when they are buying a house, they try to make as much down-payment, (some of which is attained by borrowing from friends and family members) and then take rest as home loans. Sometimes homeloans are taken to offset availing the tax deductions. The first few months after the home loans start are spent in paying back other borrowers, and not in reducing the principal. Then when they try to make a lumpsum payments, they are already late: the interest part is already deducted. Go to the "Loan Amortization Calculator" and play with the slide for "information number" and view the two pie charts..I am not marketing this website, but a simple google search gave me this link.. Also add the value of money thought. Your monthly EMIs will be a smaller pinch as you are halfway in your tenure. As value of money decreases, the EMIs will look miniscule. So my suggestion is if you are already half way in your tenure..continue holding the loan till the end or till you decide to dispose off the property. Instead use the access money in investing in some "INCOME GENERATING ASSETS". Indians its time to learn from the "jews" of New York. They own 80% of the real estate in Manhattan, but hold huge loans..Their monthly income from rent is very high compared to their old loans. They continue to invest more and more even at age of 80. I also agree to your view that a nice balance has to maintain’d between savings, loans and investments. Madhurie,
First of all its a nice post. But let me point out some basic assumptions. The banks deduct very little of the principal in the first few months of the loan, and a huge percentage of the EMI goes towards the interest part of the loan.
So when you are already 50% of the tenure of the loan, your total payments made have contributed only 20% towards the principal and 80% towards the interest. Hence you have already benefited the banks. By paying lumpsum for rest of the principal you are again benefitting the banks. In fact its your chance to “rob” the bank.
I see this mistake made often by people in “Indian IT companies”. First when they are buying a house, they try to make as much down-payment, (some of which is attained by borrowing from friends and family members) and then take rest as home loans. Sometimes homeloans are taken to offset availing the tax deductions. The first few months after the home loans start are spent in paying back other borrowers, and not in reducing the principal.
Then when they try to make a lumpsum payments, they are already late: the interest part is already deducted.
Go to the “Loan Amortization Calculator” and play with the slide for “information number” and view the two pie charts..I am not marketing this website, but a simple google search gave me this link..
Also add the value of money thought. Your monthly EMIs will be a smaller pinch as you are halfway in your tenure. As value of money decreases, the EMIs will look miniscule.
So my suggestion is if you are already half way in your tenure..continue holding the loan till the end or till you decide to dispose off the property. Instead use the access money in investing in some “INCOME GENERATING ASSETS”.
Indians its time to learn from the “jews” of New York. They own 80% of the real estate in Manhattan, but hold huge loans..Their monthly income from rent is very high compared to their old loans. They continue to invest more and more even at age of 80.
I also agree to your view that a nice balance has to maintain’d between savings, loans and investments.

]]> Comment on Packing from hair pin to laptop for a travel. by Madhurie Singh http://www.madhuriesingh.com/superindianmom/index.php/2009/packing-from-hair-pin-to-laptop-for-a-travel/comment-page-1/#comment-21 Madhurie Singh Thu, 10 Dec 2009 08:19:47 +0000 http://singhmadhurie.wordpress.com/?p=88#comment-21 Dear Smita, nice to hear from responsible people like you who are making difference to our society. I will surely write on this subject. Take good care Madhurie Singh Dear Smita, nice to hear from responsible people like you who are making difference to our society.
I will surely write on this subject.
Take good care
Madhurie Singh

]]> Comment on Packing from hair pin to laptop for a travel. by smita john http://www.madhuriesingh.com/superindianmom/index.php/2009/packing-from-hair-pin-to-laptop-for-a-travel/comment-page-1/#comment-20 smita john Sun, 29 Nov 2009 20:37:30 +0000 http://singhmadhurie.wordpress.com/?p=88#comment-20 Dear Madhurie, i am smita working for an ngo and came across ur website to help people. while u are a super mom for ur kids, there are kids being enslaved for house hold work. surprisingly the people who do this are socially responsible and highly educated people like urself. please put some light on this on ur site so that people have some mercy on kids. best regards smita Dear Madhurie,
i am smita working for an ngo and came across ur website to help people. while u are a super mom for ur kids, there are kids being enslaved for house hold work. surprisingly the people who do this are socially responsible and highly educated people like urself. please put some light on this on ur site so that people have some mercy on kids.

best regards
smita

]]> Comment on Made in Heaven, Separated on Earth by Madhurie Singh http://www.madhuriesingh.com/superindianmom/index.php/2009/made-in-heaven-separated-on-earth/comment-page-1/#comment-14 Madhurie Singh Mon, 26 Oct 2009 18:52:56 +0000 http://singhmadhurie.wordpress.com/?p=39#comment-14 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">RT @tweetmeme Made in Heaven, Separated on Earth http://retwt.me/1h9Gd</span> <div class="topsy_trackback_links">[<a href="http://twitter.com/madhuriesingh/status/5179832087">Original tweet</a>, <a href="http://topsy.com/tb/www.madhuriesingh.com/superindianmom/index.php/2009/made-in-heaven-separated-on-earth/">Topsy page</a>]</div></span> RT @tweetmeme Made in Heaven, Separated on Earth http://retwt.me/1h9Gd

[Original tweet, Topsy page]

]]> Comment on How to Install a Husband! by pallavikelkar http://www.madhuriesingh.com/superindianmom/index.php/2009/how-to-install-a-husband/comment-page-1/#comment-10 pallavikelkar Sat, 24 Oct 2009 12:47:40 +0000 http://www.madhuriesingh.com/superindianmom/?p=171#comment-10 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">How to Install a Husband! http://bit.ly/3zyMY5</span> <div class="topsy_trackback_links">[<a href="http://twitter.com/pallavikel/status/5121772347">Original tweet</a>, <a href="http://topsy.com/tb/www.madhuriesingh.com/superindianmom/index.php/2009/how-to-install-a-husband/">Topsy page</a>]</div></span> How to Install a Husband! http://bit.ly/3zyMY5

[Original tweet, Topsy page]

]]> Comment on How to Install a Husband! by Best Indian blog posts - Discover Indian bloggers http://www.madhuriesingh.com/superindianmom/index.php/2009/how-to-install-a-husband/comment-page-1/#comment-9 Best Indian blog posts - Discover Indian bloggers Sat, 24 Oct 2009 11:51:08 +0000 http://www.madhuriesingh.com/superindianmom/?p=171#comment-9 [...] : Madhurie Singh What : How to Install a Husband! Spicy : Woah, don’t try this on your husband or…… . Madhurie has this post where [...] [...] : Madhurie Singh What : How to Install a Husband! Spicy : Woah, don’t try this on your husband or…… . Madhurie has this post where [...]

]]> Comment on Soy Cookie – Diet Food by Madhurie Singh http://www.madhuriesingh.com/superindianmom/index.php/2009/soy-cookie-diet-food/comment-page-1/#comment-8 Madhurie Singh Sun, 18 Oct 2009 06:53:11 +0000 http://www.madhuriesingh.com/superindianmom/?p=150#comment-8 Yea I did read about a mail doing rounds about negatives of Soy. But I believe natural food will not be harmful and all these reports are unbelievable. Though I have not dug into it yet ! tk care Yea I did read about a mail doing rounds about negatives of Soy. But I believe natural food will not be harmful and all these reports are unbelievable. Though I have not dug into it yet !
tk care

]]> Comment on Soy Cookie – Diet Food by mush http://www.madhuriesingh.com/superindianmom/index.php/2009/soy-cookie-diet-food/comment-page-1/#comment-7 mush Fri, 16 Oct 2009 17:58:59 +0000 http://www.madhuriesingh.com/superindianmom/?p=150#comment-7 interesting stuff, madhurie! have you read the latest on soy flour and soy beans? many health experts are now asking to stay away from these. cheers... mush interesting stuff, madhurie!
have you read the latest on soy flour and soy beans? many health experts are now asking to stay away from these.
cheers… mush

]]> Comment on AMWAY MLM – Merchants of Deception by Madhurie Singh http://www.madhuriesingh.com/superindianmom/index.php/2009/amway-mlm-merchants-of-deception/comment-page-1/#comment-11 Madhurie Singh Tue, 13 Oct 2009 18:59:39 +0000 http://singhmadhurie.wordpress.com/?p=54#comment-11 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">RT @tweetmeme AMWAY MLM – Merchants of Deception « MADHURIE SINGH . COM http://bit.ly/2L5tg</span> <div class="topsy_trackback_links">[<a href="http://twitter.com/madhuriesingh/status/4841790332">Original tweet</a>, <a href="http://topsy.com/tb/www.madhuriesingh.com/superindianmom/index.php/2009/amway-mlm-merchants-of-deception/">Topsy page</a>]</div></span> RT @tweetmeme AMWAY MLM – Merchants of Deception « MADHURIE SINGH . COM http://bit.ly/2L5tg

[Original tweet, Topsy page]

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