Tuesday, 10 May 2005
Extra Income......how?
hi all......recently I was thinking of making some extra income......afterall the software job is not enough to make you live the way you have been living in the college days. Moreover you all know my lavish way of living.....so guys need some help from you all regarding the same.
I know that - money will earn money, and this is the latest mantra for earning money, but how should one proceed with this.........I tried certain things....but still waiting for that ultimate panacea.
Firstly, I tried to teach some students.....it started well but I guess this is a raw business....and you can earn only if you can become a ful-timer......moreover there was a problem that ppl expected that I should come down to their place to deliver my lectures......and thats difficult! and at the end of the month you get some 4k to 5k after teaching around 30-35 hrs each month........which means that if you can devote around 1 hr per day you will end up earning 100/-.......minus the petrol and time you spent........so that was not exciting.
second, I tried to get into the multilevel marketing......but thats a total bull-shit.......you always keep looking for new customers.......and this really gives a very bad impression on the person you are trying to persuade.....and the chances are that he will start avoiding you......so guys, I am telling from my personal experience that you should never get into such a thing........this really sucks.
lastly, and the most recent idea which has come into my mind is spending some money in Shares......but right now I am not much into it.....just starting........with some inputs from my friends who have also started just now and they are able to give only innocent suggestions........so the biggest problem with me right now is to get started......moreover I want to invest partially in long term and partially for short term.......say 40% in long term and 60% for short term.........and also there is one more constartint.......I can spend a maximum of 5k each month........so how should I proceed?
and before I end this ....... can you suggest me something better for earning something extra.
hope to hear from you all.
bye!
09:42 Posted in Career and Job | Permalink | Comments (2) | Email this
Comments
oye pondy,
u hav told me enough about the "shares" scheme of urs... but let me tell u babe just chill enjoy ur salary n hav fun till u can rest in peace for the first year then u'll come 2 know about various new methods 2 save ur taxes n earn some more cash!!
but i tend 2 forget that ur r an old man and that ur on the downhill of ur life so go ahead with all the crap u can think of!!
Posted by: dibyarth | Tuesday, 10 May 2005
hi sarsij,
ur ideas r really good and it is good that u r thinking seriously about the investment of ur hard earned money. so let me give you some tips..(expert gyan)... regarding investment.
1.Understand the power of money....money is like sand as much as u try to hold it, more it slips.....
2.Money is not real....think why????.....In how many transactions actaul money invovles ...most of the time it is on paper....
3.expenditure is directly proportional to earning.....if u want to earn more start spending more...
4.if u can count ur money it means u donot have much money.....never express in digits how much money u want to invest....just say i have spare money to invest in different options/fields ...liquidity funda
5.good way to invest in India is to avoid tax on ur income....
never hesitate to hide ur income....there is no crime in this...this tests ur sharpness in finding og bugs in existing system/rules..this will help in ur career growth also...
6.shares/stocks is a very good idea....first start buying shares of reputed company....
7.in share dealing always rememer one guru mantra ...share price is dependent on market (performance/results of company)...and sentiment (people (share holder)emotion....e.g.if this year rain is not good,people shall join in the grief of farmers and share price will go down...and vice versa)....... this is only field that require both intelligent brain and soft heart at the same time....
8.other options available are...
a.put ur money (in multiple of 5000rs/-) in ICICI saving a/c and leave that for 1yr 1day u will get 5.5% of interest.....this will help u for yearly travelling....not with flight......
b.u can buy life insurance policy....life is very uncertain.. kabhi bhi kuchh bhi ho sakta hai...
c.put ur money in mututal fund...earned money can be spent in ur daroo party....
d.put ur money in NSC (fixed for 6 years...8% compound interest annually)..help u in buying of jewellary for ur beloved wife....
e.for future put ur money in PPF (present rate is 9.5% compound interest annually)...help u after retirement...
f.buy property in any remote cities across india ...where u think there is scope of future expansion...this will help u in ur child growth...
for now i think this is enough ...try to digest this ...after this if u still want to know more...then it will give me great pleasure to help u ...
thanks and regards
ravi ranjan
Posted by: ravi | Wednesday, 11 May 2005
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