Discover India » Financial Tips

Manipur

Amit Bhawani — Sat, 03 May 2008 15:18:04 +0000

Manipur is situated in the northeastern part of the India. Imphal is the largest city of the state. The capital of the state is also the same city. The basic group of people that live here is called Meiteis and the language that they speak is known as Meiteilon. Along with this basic group, a lot of people that are called south Indians are also residing in the state. Along these Tamils, there are few other groups as well, for instance, Kukis and Nagas. The total districts which are there in Manipur are nine. The geographical conditions of the state have been under scrutiny as there have been some problems, recently, between the basic living group of Meiteis and the Nagas.

Manipur is famous for a lot of things; however, its dance is something that set it apart from others. Manipur dance is devotional and religious in nature and that is the reason, it is performed in the temples. Religiously, the place is considered to be a meeting place of Arjuna and Chitraganda. It is the reason why people here feel proud about this fact as they find traces of Manipur in Mahabharata.

Manipur is also quite popular for its landscape beauty and it would be interesting to mention that it is regarded as the Switzerland of India, and the beauty and the grandeur of the natural things certainly makes it as amazing as the Switzerland is. As it name has all in it to convey the feeling as what it has, Manipur, literally means the Land of Jewel. You will find a beautiful and mind boggling mixture of scenic beauty over here, as the lakes, rivers, valleys and the forest are what that make the whole state a treat to visit in real sense.

As there are different groups with different ethical background, the variation in culture and civilizations, can be seen as the features of all the groups will be quite evident from it. All lot of festivals can be seen here, however, Lai haraoba is considered to be a lot important, as it is celebrate after they harvest there crops. The picturesque beauty and the rich culture make it quite interesting for the tourists.

How to tackle your critical financial situation

Amit Bhawani — Sat, 12 Jan 2008 12:39:51 +0000

Money plays an important role in each one of our lives. Mostly, the bulk of what we earn each month is spent towards routine expenses. If at all any money remains by the end of the month, we then start thinking about saving. Also, these days there are credit cards sold by various companies and they are the one’s who easily tempt us to spend money on credit. Most of the time, the temptation is so strong that we tend to borrow more than what we can actually pay back. This results in a debt trap. Also, some people who have surplus money, tend to spend it on something that may not necessary are one’s need. Hence, the rest of your money is spent as a “treat” for your own self. People with excess money tend to spend more rather than save it. They themselves don’t keep a track of their spending and one day they see themselves in a critical financial situation. Now, there are a number of steps that you must take in order to rectify the problem with your financial situation. They are as follows:

1) Find out the exact damages: Sit down and find out whom you owe and what amount that you owe to others. You must be aware of the fact that if your debt repayments take more than 20% of your net monthly income, it means that you are putting yourself in financial trouble. You must take some steps to deal with this issue.

2) Draw a budgeting plan: Once you have found out the total amount you own, you must now then draw a budget and a schedule for repaying your debts. Analyze and plan out what you can afford to repay and at the same time see that you are able to stay within your stipulated budget.

3) Discipline yourself: Don’t go for any further loans until you have cleared your earlier loans. Keep yourself from borrowing further money or being in any more debts until you have repaid your debts. See that you clear first what you already owe.

4) Monitor your daily spending: Withdraw a set amount of your saving bank account and spend it within your monthly budget. Refrain from credit spending. By this way you will not spend more than you have in cash.

5. Save on the way you pay your bills: Get into the habit of paying your utility bills by direct debit. If you pay your utility bills by direct debit facility, you need not then worry about sending checks on time and it also works cheaper since direct debit payments attract a discount offer. By following this way, you can save on your bills.

6. Change over to cheaper credit card or loan provider: You can look out for a different credit card or loan provider who offers a better rate that you may be paying now, particularly for transferred balances on cards. But don’t get carried away by special offers. It would be better if you opt for a low rate that is stable rather than going for a 0% offer which might be limited to only six months. Do your own research while checking for a new credit card on loan provider which will benefit you with regard to your present debt.

7. You can switch your mortgage: Each month, you may be spending more on your mortgage than other expenses. It is very essential to make sure that you are being offered the deal. You could consult a financial advisor and find out whether it would be a wise idea about your mortgaging option. If the switching over is the right option for you, then you could end up saving money.

What is a personal bank account?

Amit Bhawani — Fri, 31 Aug 2007 20:30:16 +0000

A personal account is an account opened by a member of the company in order to accumulate and finally be able to receive his earnings. This method of account opening will facilitate a member of the company to collect his earnings in his personal account. His earnings may be in the form of commission or monthly salary. The member of the company can ask his company to pay him, once he reaches a particular earning figure amount. On reaching the target amount, the member can then notify the company to issue a final check of the said amount. So instead of the company paying the member through check, every now and then, all that the company has to do is just allow the member to gather all his monthly earnings or target earnings in his personal account and then finally release a check of the set amount, drawn in the name of the member who has to be paid accordingly.

The basic idea of having a personal account is to allow the member of the company to reach a particular figure of the earning amount and there after make a withdrawal request. The person can choose to wait till their money has been accumulated as per the desired amount. For example, the member can instruct the company to send a check amounting to the committed target amount. The balance earnings can be then carried forward to the next month. Of course, members can make a decision to receive their paycheck periodically as and when basis. But it is highly recommended to accumulate the members earnings in a personal account and then make a withdrawal request. This is done after ensuring that the said amount has been accumulated in the personal account of the concerned member.

Personal account system prevents third party credit card transactions which contain huge cost and chargeback risks. Hence, these days, companies would prefer to encourage every member to open a personal account with the company. His earnings will then be reflected in his personal account and finally, after accumulation of the earnings, it will be given to the member as per his target. This method of working could definitely save the company huge amounts in Visa charges and chargeback risks can be eliminated too.

The personal account system is considered to be efficient in allowing members to put a control on the paying mode of commissions and help the company to get rid of the high cost and chargeback risk involved in normal banking account- paying structure. The personal account system enables a member to issue an inter-member transfer to any other member in the system. With the personal account system, the member need not have to use his own credit card while enrolling a friend who doesn’t have one.

The personal account system acts as an important tool to deal with a lot of financial issues which the MLM companies need to tackle in today’s times. I must end up saying that the personal account system is one of the best paying method for the member of the company and for the company itself.