Category: General

Attend Jagoinvestor Workshop in Mumbai on 17th May (Sunday)

Posted on by Jagoinvestor

Last week (on 12th of April) we conducted investor workshop “Design your financial life” in Pune, it was a great learning experience for participants and for us. At the end of workshop it was amazing to see how each participant’s heart got filled right kind of commitment to walk on the path of financial freedom.

Here are is the message from one of the Pune workshop participants to investors community

Hi Manish and Nandish,

First of all let me thank you for sharing very important basic concepts about INVESTMENTS…(Not SAVINGS) during this workshop. Me and my wife both enjoyed this workshop very much and in future we would like to certainly attend another one.

Let me also congratulate both of you. Two of you compliment each other nicely and form a very good team.

The workshop was very simple yet an eye opener for many of us who attended it. We never realised that we were making such huge mistakes in buying certain financial products, life insurance policies etc. which drained our hard earned money so far. We were not giving proper logical thought.

YOU MADE US THINK ABOUT HOW TO DEVELOP RELATIONSHIP WITH MONEY. This is the most important concept which I liked In this workshop. The name JAGO INVESTOR perfectly suits.

I would like to mention here that our education system does not include syllabus on money related matters which is in fact most important matter once we become graduates and start earning. I sincerely appeal to all the parents and young children to attend this workshop once. I am sure this worshop will change their views about investing the money for ever. The more early you start the more better it is.

Thank you once again. It was worth taking the pain for coming all the way from Ahmedabad to Pune to attend this workshop.

KEEP SHARING & SPREADING THE KNOWLEDGE…

Regards.
Abhay

More comments from other participants

This is really great workshop for all age groups, especially for the young students who just started their career. I would say please do come for the workshop as our school system doesn’t teach us importance of financial planing, all they teach us is that “mitochondria is the power house of the cell”. 🙂 These guys are genuinely taking efforts to financially literate the people. The workshop worth more than its fee. – Vivek Ratnaparkhi

The program is really well designed to convey the crux of the personal financial planning. It really acts as eye opener for all participants. The program introduces to basic financial planning concepts in a very easy to understand way – Vijay Kumar

The program gave me a list of actions I need to take for my financial life. It stressed the importance of written goals. Financial freedom was the best take away – Rupali Desai

It enhanced my knowledge on finance. It was an eye-opener program for me. I can manage my finance more clearly now. A small amount of saving can become a large amount in long term. Only thing is we have to put “Effort” – Supriya Singh

It was really good and my knowledge was increased about financial planning. I used to avoid the discussions related to financial life, but now I know the importance of it and can contribute towards it – Rakhi Gulmire

Here are some of the pictures from Pune Workshop

Jagoinvestor Investor pune workshop

Jagoinvestor Investor pune workshop

Jagoinvestor Investor pune workshop

Jagoinvestor Investor pune workshop

Jagoinvestor Investor pune workshop

Video Testimonials of Pune workshop Participants

Opportunity to participate in Mumbai

We invite you to block 17th of May (just one Sunday) so that you can participate in our Mumbai workshop. We are inviting you, because our workshop will add a lot of value to your existing financial life. So far, we have seen and observed that our workshop helps investors to add new and different dimensions to their financial world. In the whole process, you will learn to slow down so that you can examine what’s going on in your financial world. With our help and support, you will be able to define and adopt new set of actions and strategies to create an amazing financial life.

Why we conduct these workshops?

We do offline workshops so that we can connect with some of our readers at a deeper level, round the year we write articles, reply to thousands of comments and work with a few hundred investors one on one and in that process we learn, grow and expand as professionals. Our Workshop gives us an opportunity to share outrageously all the knowledge and experiences that we acquire round the year. The program is an opportunity to get our readers more and more action oriented.

Why you should come for this workshop?

  • You will learn how to improve your financial life with your current set of resources and income.
  • You will learn how to plan for your financial life goals
  • You will interact and learn from other’s people’s financial life
  • You will dedicate one full day to get better with money management
  • You will learn to add new dimensions to your financial life
  • To understand that personal finance can also be fun
  • To give a whole new direction to your financial life

 

Register for the Workshop in Mumbai

Single Ticket Rs 3,800 Buy Single Ticket
Couple Ticket
(Discount of Rs 500)		 Rs 7,000 Buy Couple Ticket
Venue and Timing Details9 am – 6 pm (17th May, 2015)
BEST WESTERN HOTEL SAHIL
292,Bellasis Road, Mumbai Central
Opp City Centre Mall

  • The hotel is walking Distance from Mumbai Central Station
  • Lunch and Breakfast is included in the program fees

 

What you get as a participant?

  • You get a FREE Financial Health check-up Report worth Rs 499/-
  • One day workshop with some personal finance tools like budget sheet, Mutual fund tracker etc
  • Invitation to join our inner circle

It’s time at add jagoinvestor workshop to your financial journey

It has been a few years now conducting “Design your financial life” workshop and the experience has been amazing. It is a wonderful space to be in, in which the group learns and starts to fall in love with the overall process of wealth creation. We do not teach tricks and tips to build wealth in fact we help you to discover your own personal process of wealth creation.

This time we want more and more couples to participate so that they can get on same page when it comes to personal finance. It is extremely important that husband and wife both take equal interest when it comes to money management. We are offering special discount to those who want to come with their partner. (You can even come with your parents, siblings or friends and can claim the discount)

The workshop we conduct are highly interactive, it has lots of activities and fun exercises which helps you to discover your relationship with money. The sessions are interactive and very easy to grasp for any kind of investor, beginner or advanced. In short there is something for everyone in this workshop

Listen to workshop Participants who attended in Past

 

 

 

Invitation to join and participate

From the bottom of our heart, we invite you to join and participate in pune workshop. Come alone or with your spouse or parents, siblings or friends but see that you do not miss this opportunity. Do not let time and money to get in your way and book your seat at the earliest because we will be taking only 35 participants this time and registration will close after some days.

This workshop is strictly for investors and not for advisors or finance professionals. If you have never participated in any personal finance workshop let this be your first workshop. If you have already participated in our past workshop we invite you to share the event brochure with your loved ones. If you have any questions you can write in the comments section.

You can also visit our Workshop Page to Register and Get more details

Jagoinvestor Workshop in Pune – 12th April (Sunday)

Posted on by Jagoinvestor

We are back with our offline workshop. This time it will be held in the city of Pune.

We invite you to block 12th of April (just one Sunday) (mark 12th of April on your calendar) so that you can participate in our one day workshop. We are inviting you because our workshop will add a lot of value to your existing financial life. So far we have seen and observed that our workshop helps investors to add new and different dimensions to their financial world. In the whole process they learn to slow down so that they can examine what’s going on in their financial world. With our help and support they also define and adopt new set of actions and strategies to create an amazing financial life.

jagoinvestor workshop

Why we conduct these workshops?

We do offline workshops so that we can connect with some of our readers at a deeper level, round the year we write articles, reply to thousands of comments and work with a few hundred investors one on one and in that process we learn, grow and expand as professionals. Our Workshop gives us an opportunity to share outrageously all the knowledge and experiences that we acquire round the year. The program is an opportunity to get our readers more and more action oriented.

Why you should come for this workshop?

  • You will learn how to improve your financial life with your current set of resources and income.
  • You will learn how to plan for your financial life goals
  • You will interact and learn from other’s people’s financial life
  • You will dedicate one full day to get better with money management
  • You will learn to add new dimensions to your financial life
  • To understand that personal finance can also be fun
  • To give a whole new direction to your financial life

It’s time at add jagoinvestor workshop to your financial journey

It has been a few years now conducting “Design your financial life” workshop and the experience has been amazing. It is a wonderful space to be in, in which the group learns and starts to fall in love with the process of wealth creation. We do not teach tricks and tips to build wealth in fact we help you to discover your own personal process of creating wealth.

This time we want more and more couples to participate so that they can get on same page when it comes to personal finance. It is extremely important that husband and wife both take equal interest when it comes to money management. We are offering special discount to those who want to come with their partner. (You can even come with your parents, siblings or friends and can claim the discount)

The workshop we conduct are highly interactive, it has lots of activities and fun exercises which helps you to discover your relationship with money. The sessions are interactive and very easy to grasp for any kind of investor, beginner or advanced. In short there is something for everyone in this workshop.

Listen to workshop Participants who attended in Past

 

 

 

Register for the Workshop in Pune

Single Ticket SOLD OUT
Couple Ticket
(Discount of Rs 500)		 SOLD OUT

 

What you get as a participant?

  • You get a FREE Financial Health check-up Report worth Rs 499/-
  • One day workshop with some personal finance tools like budget sheet, Mutual fund tracker etc
  • Invitation to join our inner circle

Invitation to join and participate

From the bottom of our heart, we invite you to join and participate in pune workshop. Come alone or with your spouse or parents, siblings or friends but see that you do not miss this opportunity. Do not let time and money to get in your way and book your seat at the earliest because we will be taking only 35 participants this time and registration will close after some days.

This workshop is strictly for investors and not for advisors or finance professionals. If you have never participated in any personal finance workshop let this be your first workshop. If you have any questions you can write in the comments section.

You can also visit our Workshop Page to Register and Get more details

6 money lessons every investor can learn from Pradhan Mantri Jan-Dhan Yojana Posters

Posted on by Jagoinvestor

I recently was reading about Jan Dhan Yogjna and came across some really nice posters created by their team which is used to educate public in their financial literacy camps.

On looking those posters, I was really touched by its simplicity and how powerful they are to install basic foundation lessons. There were many posters in the PDF file I saw on their website, but I picked 6 posters which I was to show you and teach you some important and foundation lessons on money.

I request you to read what I have written for each of them (don’t skip them) to benefit most from them. I know some of you might feel, these points are not for you, but trust me – many of you need them as much as others.

Lesson  #1 – Essential Expenses comes first before Non-Essential Expenses

financial literacy from Pradhan Mantri Jan-Dhan Yojana

You always have two kind of expenses, essential and nonessential and whatever income you earn should first go into expenses which are extremely essential in nature like food, house, education, Medication etc .

If you see the porter above, it shows you a pot which in its bottom has all the essential things and all the non-essential things come about it. In the similar way, when you are investing or spending your money always ask this question – “Have I taken care of the essential first ?” .

I know this looks too basic thing and its assumed that even a fool knows this, but reality is very different. You will see lots of parents who have spent 30-40 lacs on lavish wedding of their children, who are now struggling to even buy a house.

There are people who have invested their money in land, which is locked and now they are struggling to pay high education fees for their children. There are parents who are saving for their car, even before they have any money accumulated for their kid’s school fees.

Lesson  #2 – Financial Planning is extremely Easy – if you are ready

financial literacy from Pradhan Mantri Jan-Dhan Yojana

The next poster shows the simplicity of financial planning and how easy is it to implement. All you need to do is be ready beforehand and act on requirement. The above poster is created from a poor person’s perspective, but there are big things to learn .

Whatever is your future need, write it and then find out how much you need to invest on a monthly basis and then DO IT . There is no extra ordinary thing done by those investors who always meet their life goals, all they do is properly save with discipline.

Lesson  #3 – Spend, Reduce and Avoid

financial literacy from Pradhan Mantri Jan-Dhan Yojana

You always have 3 categories of expenses in your life. Needs , which needs to be taken care of no matter what you do and you have to spend on those things, no matter what, like education, food, health, medicine. You should make sure you spend on these things and don’t cut on them provided you have the money for these things. Its essentials of life and they are critical for your existence

However there is another category called Wants, which are “great to have” things in life. Things like expensive clothes, entertainment, holidays – which is something where you have to define your limits. You don’t have to cut them out of your life, but always remember how much you need to spend on those things.

You have to REDUCE your spending on these things if possible and then at last there are VICES, which are bad for you, which destroy lives in long run. Smoking, alcohol , gambling etc which give a pleasure in short-term, but should be totally cut out from your life. Most of the people in lower strata of income always remain poor mainly because of these vices.

Lesson  #4 – Debt will destroy you, if you dont handle it properly

financial literacy from Pradhan Mantri Jan-Dhan Yojana

I love this poster most because I know most of the people can relate to it more than other posters. Debt is like sugar – sweet for now, diabetes for future . Millions of people today are in debt cycle which started very small.

When their career started, they bought a bike on EMI , or they swiped their credit card because they need loan for some not so important purpose in life (and many times, very important) and then from that time, till date they are paying the EMI for some of the other purpose.

Availability of easy credit has made them addicted to loans and credit offers. One side when one has to save and grow their money, people in debt cycle are actually doing the reverse.

If you see the image above, you can see how poor people get in debt cycle, the easy availability of credit from sahukar or friend in their village makes sure that they are always in that debt cycle, because anytime they need money, they can get it (at small level) and the interest they pay does not look huge (because it’s in rupees terms) like Take Rs 1000 and give back Rs 2 every day , that is bloody 72% per year. Avoid it if you can

Lesson  #5 – Save money keeping in mind your life cycle needs

financial literacy from Pradhan Mantri Jan-Dhan Yojana

Most of the people live as if life will always be great and they will always see happy days in life just because their current situation is awesome. Bad things happen in life and you can have it too . It’s important that you save for bad days keeping in mind all phases in life.

I came across a 53 yr old person recently who has spent on everything else in life, but has Rs 0 for him today and now when he is free from other responsibilities in life, wondering how will he manage in his old days since only 7 yrs are left before he will be “senior citizen” .

You will see change of jobs, birth of child, death of someone , lowering of income and many other things which will need money that time which brings an important question – “Are you saving minimum 20-30% of your income for your future needs?” . If not , think on this .

Lesson  #6 – Borrow to undertake an activity, which enhances your income

financial literacy from Pradhan Mantri Jan-Dhan Yojana

I want you to stay grounded with that statement for a moment.

– “Borrow to undertake an activity, which enhances your income“

No statement can make it simpler than this. If you are taking loan, ask the question (unless its emergency) – “Will it be used for something which can enhance my income or build me a growing asset ?” . If the answer is YES – you can go ahead, else refrain from it.

Most of the people I came across have tons of personal loans, credit card debt, car loan which is not helping them build anything in life, it’s mainly for their consumption . To some level I am not too much against it personally, but when it’s beyond the limits – it really troubles you all the life because you never get a good enough start in your financial life in initial years.

Basic, but foundation lessons

Today’s article was a bit basic in nature, but I would say its very important one which builds foundation of every investor. Despite it looking basic, millions of investors don’t follow it and get into trouble. I want you to send this article to at least 5 people you know are starting their career, or you feel need some foundations in personal finance knowledge.

Would love to know what you think of these lessons and did you love these posters ?

When exactly does PPF account mature ? Answer is not 15 yrs !

Posted on by Jagoinvestor

When does a PPF account mature ? If you thought that its 15 yrs from the date you started your PPF account, then you are wrong ? Yes – there is a myth around this topic and most of the people do not know how does it actually work.

Its extremely simple to find out when exactly your PPF account matures, and let me show you how to calculate it!

How is PPF maturity date calculated for PPF account ?

The maturity period for PPF account is 15 years from the close of the financial year in which the initial subscription was made. Its that simple. So if you open your PPF account on 4th Nov 2014, this date lies in the financial year 2014-2015 , then the financial year ends on 31st Mar, 2015 .

So the 15 yrs will be calculated from this date (31st Mar, 2015) and the lock in year would be 2015+15 = 2030 . So the exact date would be 1st Apr, 2030 in this case.

ppf maturity calculation

Note that PPF maturity always happens on 1st Apr , and not any random date of a year. Most of the people just add 15 yrs to the date of opening of PPF account to find out the maturity date.

Below you can see a short video which will explain PPF maturity calculation to you. Have a look at it.

So technically your PPF account can mature in 16 yrs in best case, suppose you open your PPF account in the first week of Apr, then your 15 yrs will be calculated from the next year (financial year ends on 31st Mar of the next year).

Jagoinvestor Android App Launched – Read articles on your Mobile

Posted on by Jagoinvestor

I am happy to share that finally we have launched an android app for the blog and an iOS app is in making and will be launched very soon.

You can do various things on the mobile app like reading the latest articles, checking your portfolio (for clients only), do your mutual funds investments and redemptions. You can also visit our knowledge section and check out some education material or use financial calculators on the app.

Here is the Android app link

jagoinvestor mobile android app

 

I hope this will make life easy for many people. You can download the app on any mobile or tablet which is on android platform. Give give your suggestions and comments on this.

Join Action Month – Take-up 30 Day Challenge to complete your Life & Health Insurance (Download E-BOOK)

Posted on by Jagoinvestor

We are back with Action Month ! … You may be high on knowledge, but check if action is missing in your financial life or not ? If thats the case, action month will be of great help to you.  We invite you to see Action month as an opportunity for you to get into action.

Action month is a group campaign where you can choose to be a part of it and promise yourself to complete long time pending tasks in your financial life. This time we will provide full encouragement and support to bring a turnaround in your financial life.

If you are ready to take-up “30 DAY CHALLENGE” we would love to have you as action month participant.

We decided to bring back the action month in the month of Dec, 2015 and its mission is to help you in protecting your family.There are two area’s which you need to take care if you want to protect your family and yourself and they are

  • Life Insurance
  • Health Insurance

Top 5 Reasons – Why people remain under insured in Life and Health Insurance

  • Casualness: A lot of people are casual when it comes to buying health and life insurance cover. They are simply not present to the importance of this area and so they end-up without adequate life and health cover
  • Over analysis: A lot of so called “intelligent” investors choose to remain busy with their product over research habit.Because of this they continue doing analysis all the time. Over analysis keeps them away from taking right kind of action
  • Confusion: There are innumerable products available in the market and any investor can very easy fall into confusion trap. Confusion is one big reason why people fail at buying life and health insurance policy.
  • Procrastination: A lot of investors know they need to buy life and health cover but they are victim of procrastination. They continue to procrastinate and remain under insured
  • Fear: A lot of investors are afraid to approach companies and advisors. They are afraid of either getting wrong advice or they think they will be pressurized to buy wrong products. Inside this fear they do not initiate conversation of having life and health cover.

Bonus Reason to Join Action Month

I will give you one more reason for joining action month. Its already the month of Dec, and in next 1-2 months you would need to submit your investment receipts in your company to avail income tax benefits. If you complete taking life + health insurance in this month, you will have your recipts by Jan and you will be able to save income tax under sec 80C and 80D .

How will this Action Month Work?

Step 1

 Calculate your Life Insurance and Health Insurance status by using the calculators below

Step 2

 Register for the action month by filling up the form below we will send a joining kit which has 2 ebooks on life insurance and health insurance as GIFT in 48 business hours.

Step 3

 You then become part of our 30 day challenge action month, where you promise yourself to complete your actions before the end of this year (within 30 days).You have choice to take actions on your own or take Jagoinvestor support in completing both the actions.Claim Settlement Assistance – Jagoinvestor Team will be providing claim assistance service to all the clients who will buy TERM PLAN under our guidance.

Calculate your Life Insurance and Health Insurance Status

Below is a simple life insurance and health insurance calculator, which will help you understand where you stand in these areas. Put your numbers and see the output, and then fill up the form below these calculators to be a part of this amazing action month.

Join the Action Month REVOLUTION and be part of 30 day challenge

Finally, fill up the form below to register yourself in the action month and be part of our 30 day challenge. When you fill up the form below, you  officially register yourself in Action month and after 1 month we will ask for your actions and what is the status. Once you get policy in your hand we will ask you for a picture of you holding your policy with your loved ones.

ACTION MONTH IS CLOSED

Welcome to the 100 crore Club

(We want to HELP over 100 families in having adequate life and health cover)

We really wish that in this action month, the combined sum assured taken crosses at least 100 crore. Even if 100 people take 1 crore sum assured, it will be total of Rs 100 crores, which we call as 100 crore club. Are you going to be part of it ?

If you have any doubts or issues regarding this action month, you can ask your question below in comments section.

13 awesome ideas to make extra income other than your regular job [part 5/5]

Posted on by Jagoinvestor

Do you want to make extra income on a consistent basis apart from your regular job ? In this 5th article under “increasing income” series, we are going to look at some of the ways you can make some extra money other than your salary. I will be discussing 13 ideas, out which which most of the things can be instantly tried out by most of you.

Note that, here were are not talking about creating passive income which requires huge investment. We are mostly going to talk about ideas which can be implemented without requirement of huge capital, but only some time and dedication.

Lets look at these ideas one by one..

1. Consulting in your domain

If you are expert in some area, you can always give your consultancy service to smaller businesses who cant hire big companies. When we were brainstorming with a client of ours to generate second line of income, he identified that he has some great knowledge in the area of terrace gardening. He could see that he can help families with large enough terrace to setup their own balcony garden and earn some fees over weekends or extra time.

consulting

Look back at what all you know and have learned over these years, and you will realise that you have some really deep knowledge in some field, and surely there are many who are looking for someone like you, who will guide them well for a lesser fees (compared to professional fulltime companies)

2. Referral Business

Connecting two entities is another great way to make extra money by spending less energy. So can always have an agreement with some business entity to give clients on referral basis and earn a commission. I recently hired a designer for some work and I asked him if he knows someone who can PRINT the designs for me. He referred me to his friend who done the printing work. I am sure he must have got some cut for the referral and there is nothing wrong in it. Its a smart way of earning money.

Here is what Ajay shares in our last article.

I used to refer students to a local computer institute where i myself learnt ms office. they used to pay me 10% of the course fees paid by the student. i used to earn average between 1000 to 3000 monthly those days.

You might not know that even builders pay you 20-30k for each client referred (who bought the house). So now, have you got a friend who is into business or some kind of service ? Just talk to him if you can pass on clients to him and earn some money on it.

3. Create products and sell on Ebay

With websites like Ebay and OLX, you can now sell virtually anything on internet to those who are looking for products. So you can do some handicraft or anything else, which can be created at home in extra time and then it can be sold on ebay. Or you can find some local product which others would find awesome, but its not available in other parts of country and then start selling it online for a profit. Even you can look at some products which are selling at huge discount at stores (wholesale market or under clearance sale) and then sell it on amazon at regular price.

Earning from Ebay

Earlier, when you wanted to sell something along side your job, you needed to have a shop and someone was required to be at shop all the day, not anymore !.

Ramit has a great article dedicated on this topic.

4. Create a Course and Sell on Udemy.com or Skillshare.com

If you are an expert in some area, which you think can be taught to others by creating a course out of it, you can always sell it on udemy.com or skillshare.com and make money on the fees recieved by the students. So if you are an expert on cooking, Yoga, SEO , Designing, MS Excel, Java, Python … whatever.. Create a nice rich course , record your videos and done ! .. You can tie up with these websites and then earn a lot money. Just understand those models and work on it.

skillshare

5. Freelancing online

If you have extra time with you over weekends or after your job, you can freelance and take small projects. There are many websites like elance.com , odesk.com or freelancer.com where you can earn money by working on projects. There are thousands of people in India who are working full time on these kind of freelancing websites and believe me, they are earning in lakhs. Look at it as a serious way of making money and not just a time pass activity.

earning from freelancing

6. Become a Tutor online if you love teaching

If you have a knack for teaching and if you are an expert in some subject, you can become a tutor online for students. There are tons of websites like TutorVista or Tutor.com where you can try out this. You would need a great internet connectivity for this. It can work best for someone who is ready to work late in nights as many students from US and Canada would be right fit for you then.

7. Tutions at Home

This is the old favorite way of earning some side income. You must have listened to great stories of how many people have supported their families and their own studies just by taking tuitions. Then why not to extend your income even if you have a job ?

Do you know Music ? Are you an expert in Maths ? Vedic Maths ? Yoga or may be cooking ? Do you live in a residential society which has 100’s of other families? Then tutions is a perfect thing you can start give you are good at what you claim to. You can always dedicate 2 hours (if you really have them) and do some basic advertising in your apartment or nearby places and take students to teach them at home. The best part of this kind of tutors is that you refresh your dying knowledge, earn some money at the comfort of your home and you kill time which goes into unproductive things most of the times. myprivatetutor.com is a good place to register and start with.

7. Rent your empty house/room on Airbnb.co.in

Do you know that next time you head over to Goa for a family holiday, you can just rent out the whole house for 6-8 people at just Rs 5,000 a day . Thats correct!

airbnb in india

Airbnb gives you great way to rent your house or even an empty room, if you want to earn some extra money out of it. You can always give your extra room to travellers and people who are looking for 1 day-week stay on Airbnb.co.in. Just put pictures of your house/room, explain your conditions and rules, put the facilities and thats all. Clients will find your listing, make the payment online, and if you accept, you host them!.

The best part is that you keep 97% of the fees paid and you don’t have to search for clients yourself . Serve them as they come. If you have a full house at some great tourist place like Goa/Shimla/Manali or those kind of places, you can put your whole house on rental basis. Many people who have a second home or extra room, hire a maid and offer the full range of services of a regular basis. Imagine if your extra room is rented even 5 times a month and you earn Rs 1,000 from it ? Its Rs 5,000 extra income !

8. Teach someone live on Google Helpouts

If you have a skill, you can teach someone live on google helpouts. There are tons of categories like Arts and Music, Cooking, Home and Garden, Fitness and Nutrition and many more .. which you can choose from.

Google Helpouts

In this era of globalisation, I am sure there are enough number of people in the world who would like to pay to someone to learn some thing unique.

9. Do Odd jobs at Fiverr.com

Imagine you want your logo/brochure to be designed or want your website andriod app to be created ? It can be done at only $5 (Rs 300). There are tons of odds things you can do at fiverr.com . Most of the times its a small manual task, which is super easy for you, but tough for others.

A small assignment can be done at fiverr.com for $5 and you can raise the fees depending on the complexity involved. There are tons of people in world who are looking at delegating some task at a small fee.

fiverr

I have used it 2 times myself to get some work done and paid $5 two times.

10. Cooked meals Pickup

I recently ordered some amazing Egg Biryani in Pune (the most delicious) I had till date and the lady sold it from her home through registering at tastykhana.in. I had to go to the place to pickup the biryani.

That got me thinking how many people in our country cook some amazing things, but never capitalize on it. So if you have people at home who cook some speciality and you feel that it will loved by people in your city, you can start pickup service at home. Get the order, prepare the food , opt to deliver at home (at extra cost) or ask them to pick up from your place. And if you are thinking about preparing “Andhra meals” in Pune, I am your customer already.

11. Starting a Creche at Home

I am not talking about professional/big size creche here. If your home is big enough and there is a scope of it, a simple creche can be started. There will surely be some market for it. If most of the couples living around you are into full day jobs, you can surely cash on this opportunity and think about it.

Even if it means renting another 1 BHK flat and starting your creche there, its worthwhile. See how you can actually implement this – I just gave a direction

12. Freelance writing for someone websites/newspapers

If you are strong in writing and can put your ideas on paper in creative manner, then you can write for newspapers and magazines. I get tons of emails myself for freelance writing (i don’t do it but). Here is what Abhijit kulkarni has done..

earning by freelancing

Checkout how you can put your writing skill to earn more..

13. Sell nutritious health drinks around the Park nearby

One of our readers shared this idea with us. If there is nearby park or place, where people come for walk, jogging early morning, then you can always sell health/vegetable drinks and various healthy breakfast too. I am sure it will help you also personally to take care of your health and earn some extra income.

If you don’t have some one at home to do it or you lack time, you can employ a part time person to do this for 2-3 hours and pay them salary or a profit cut.

14. BONUS IDEA – Be a passive partner in someone else business

I know most of the people can’t do fulltime business, because they are into a regular job. But you can always invest your money, your ideas and some basic level of administration to run a side business along with a 3rd party whom your trust.

There are many awesome people, who have the ability and passion to do some business, but they dont have money or experience or some ideas to implement. You can partner with them and offer to invest money in the business and also contribute your time over weekends or after work if its possible for you.

Example 1 – Image a person who has a shop, you can help him/her start a internet cafe – because you are an expert in computers, networking and know the technical side of how to do it. You can build the systems and overall business. You do the backside work and the other person does the front office job. Divide the profits !

Example 2 – Do you know someone who is looking for a job and can drive well, but has limited time? How about you buy a Maruti Van and ask him to use it to start a pick and drop business for children in school . Divide the profits ! ..

Sonme months back, I heard the founder of Tastykhana.in in a TIE talk, where he shared that when they desperately needed some money in the starting years of their business, that time – one of the employee of an IT company put in Rs 1 lac in their business and within a year or two, he got back 20 lacs return through an exit option when they got funding later (it was something like this, if not exact)

Can you see a point I am making? I know its not an as easy as it sounds, but at the same time, its not as tough as you imagine. You need to take some level of risk and try out these things if you want to earn extra income.

How to handle .. “But .. “

I know these ideas must have pumped a lot of excitement in you and a lot of you might have a feeling of “But … and followed by some reason”.

Note that earning an extra income apart from your regular job, takes huge commitment. Its simple, but not an easy task. Its not for weak hearted. You will have to keep aside some of your reasons,come out of your comfort zone and take some pain in order to implement it.

It might means waking up early, it might mean sacrificing something in life (Read the story of Anupam on creating second income) , you might have to redesign your schedule, ask for support from others and taking some tough decisions. There is no shortcut when you want to make money in life.

This is exactly why most of the people never create any additional income, because they never take efforts for it. They are just focus on reducing their expenses, where the possibility is limited. Today I invite you to look at the other side, thats INCREASING YOUR INCOME, which has unlimited potential.

Also do not focus on the quantum of money you earn in the starting. What about Rs 1,000 extra in the first month ? It pays your PHONE BILL ! . Thats big thing .. Its EXTRA money afterall. I hope you loved these ideas and you would surely try out atleast one of these over the next 1 month. Plan for it and take action.

I would like to hear some more ideas from you, no matter how silly or crazy they sound. Even if its something which can earn you Rs 100 extra, please share it. Any contribution is appreciated.

10 ideas to create Passive Income or alternative Source of Income – (Part 4/5)

Posted on by Nandish Desai

In the last article of “Increasing income” series you read Anupam’s real life sharing about how he created his second income (we thank him for sharing his experience with our readers). Today let’s go a little deeper and learn ways by which YOU can also create passive income stream, which means ways of income where you do not work actively and still the income is generated.

ideas to create passive income
We can see that a lot of you are interested in creating passive income but you don’t know from where to start, so after reading today’s article take at least one committed step to create second source of income in your life. After you complete reading today’ article, in comments section share at least one new idea for creating passive income.

We are a community of 50k+ people at jagoinvestor, if we all share one good idea for creating passive income, imagine what kind of passive income idea bank we will be able to create.

The rich get richer. Not only because they have surpluses with which to invest, but because of the overriding emotional release they experience from having wealth

– Stuart Wilde

I really want you to take a day off from your routine life and name the day as “PI day” of your life. On this day, you won’t touch upon any other area of your life,you will only think about creating passive income and nothing else. As next step create a special kind of account in your life called “P I income account”, in this account you will accumulate passive income, it should not come from real work or from active job. Passive income is the kind of income where either your money works for you or your people work for you.

10 ways to create passive income

(Do not discard ideas instead start thinking how the ideas can get into your life)

1. Rental Income from Real Estate

You can create rental income with the help of real estate. If you have more than two properties, the rent you get from one can help you to pay the EMI of other property you own. You can give your office space on rent or your second house on rent. You can also create either boys or girls hostel, if you have more than 1 flat on the same floor. Some even create small office units in one big commercial space and they give it on rent to people who do not have frequent visitors.

Make sure that you are selecting right people and legal aspect is taken care of. If someone (only if you are the owner) has good office space in Pune, we would like to touch base with you. (In 2015 we would like to establish jagoinvestor office in the city of Pune).

2. Buying Space for ATM Centre

This is one of the best ways to create passive income. Generally in a building, the space which is below the stairs gets sold at lower rate as compared to other offices and it is ideal place for ATM Centre. Banks can even pay upto 25k-50k per month to ATM centre owners in big cities, but again it depends on the location and the area where you own your space. There is a detailed discussion on this topic here

3. Buy extra Parking lots and renting it later

Parking is one of the biggest problem that everyone is facing today. One of our clients created passive income from the parking space that he owns in his building. Also I know someone who owns open plot next to a multiplex; he gave his space on rent to multiplex for parking purpose. This may not be possible for all but as I said do not discard ideas from your life.

4. Create Websites & Blogs

The machine age is over and we now leave and breathe inside information age, where no one cares where your office is or how many people staff you have, with the help of internet from a remote place you can create a lot of money. Creating a blog or a website is almost free (or I can say it is not very expensive) and is one of the best ways to create passive income.

You can do this as a part time activity and start creating second income in your life. This may be a slow process and it calls for good content for you to attract people to your blog or website. Jagoinvestor as a blog started very small and with the love and trust of our readers it has now created a special space in investor’s community.

5. Advertisement hoarding on your building and terrace

If your building is on main road with proper visibility you can put some banners or hoarding on the terrace of your building or even in garden or open space of your building. If you own terrace rights the money will come to you otherwise, it goes to society kitty as passive income. Some permission & authorization is required to take this step.

6. Interest income from your investments

This is one of the simplest ways to create passive income, which is in everyone’s reach. You can either create interest income through Bank Deposit products or by offering loans to people at attractive interest rate. For this your need cash on hand or pool of money from which you intend to create interest income.

7. Dividends from Stocks and Mutual Funds

You can either receive dividends through Stocks or from different mutual fund schemes. This income depends on the performance of stock and mutual fund which is linked with market conditions. There are many people, I know who create good dividend income from stocks and mutual funds.

8. Royalty Income

Your talent can help you to create passive. You can put something in a book on Amazon Kindle and it can be shared with the world, your book can help you get royalty income. Most people are disconnected with their true talent which is not good for creating second income. You really do not need a publisher you can either self-publish it or get in touch with websites who promote new writers.

We started with one book and now we have four books which are written for investors and advisors, our publisher has already assigned us two more writing assignments.

9. Referral business model

If you are into business you can create a strong referral business model by which your overall business strength increases. Here with the help of referral model not only does your business expands but you also get an opportunity to create passive income as an entrepreneur.

10. Buy cars and give on rent to companies

Many BPO’s and companies hire vehicles on contract. Some people buy vehicles and they offer their vehicles to the company they work with. This helps them to create passive income out of it. Here you need to be careful about the terms and conditions and choosing right driver who will be handling your vehicle on daily basis.

Project called “Passive Income”

If you do not have passive income it means you have yet not created “passive income” as a project.  In our book “11 principles to achieve financial freedom” you can learn more about creating passive income and how you can convert your dream of creating passive income into a project.

Just place your hand on your heart and ask yourself, “How many attempts in the past I made and I failed at creating passive income? (may be zero attempts). You are unable to create passive income because you are glued to the idea of only creating active income in your life. You haven’t failed much because you haven’t yet started fully playing for creating passive income.

Come on, make list of possibilities, make list of people who can help you, see what leverage you can get in creating passive income, see what best you can do with the resources you already have, what talents you have in you that can help you create passive income or take professional help, if required. In the last article of increasing income series we will have a strong completion and for what we invite you to share your key insights in the comments section.

This week action

Take a day off from your routine and name is as “PI day” (Passive income day)

Do some brainstorming and come up with ideas for creating passive or residual income. Do share one idea in comments section for creating passive income

Interview with Anupam on creating 2nd income source along with his regular job – part 3/5

Posted on by Jagoinvestor

Do you want to know how someone created his 2nd income other than the regular 9-5 job ? In this 3rd article for “increasing income” series (part 1 and 2 here), we present an interview with Anupam Mehra from Bangalore, who is one of our blog readers and has agreed to share his story of creating second income in his life. I was very impressed with him because he has done something which most of the people only imagine and never make it a reality by taking extra efforts for whatever reason.

Having Second Income in India

So I mailed Anupam 7-8 questions to answer, so that it can be shared with you all. I am sure you will get some great ideas from him, a lot of motivation to something similar in your own life and at the end, lets start a new kind of culture on this blog where we share our knowledge with others so that it can enrich others life in some way.

Here is the interview ..

1. Can you share very quickly about yourself and what you do right now in job ?

I have post-graduate degree and have about 8 years of experience. My education and profession are in the same field, Electronics. I have broad range of experience in all aspects of product design. I was lucky in a way that in both the two companies that I worked for, there were no set job definitions. For example, some companies have set roles like development, testing, documentation, verification etc. But, for me I had to do all of this at some point of time. This helped me gain good experience overall. I think for all new graduates, embrace this sort of opportunities since it will give you a good idea on what interests you. You can choose to specialize in something that really interests you as you gain more experience.

For me alternate source of income did not mean alternate field of profession. I am really passionate about my area of work. Initially for earning 2nd income, I completed a few projects on freelancer websites like Elance and others. Some of the projects were not related to Electronics, for Ex: Visual Basic Automation, but for most part I did projects in my field of interest only. Some of the projects I quoted a very low price to ensure I got the project. For the past one year, I have been consulting with a US-based company. I am guiding a group of engineers in verifying a very complex design. I have provided a lot of automation tools that I developed, which is helping the engineers improve their productivity.

2. How does it feel to have another source of Income apart from your professional active job income?

To begin with, I wanted more control in my career. I did not want to worry about layoffs, appraisals, not getting onsite etc. I also wanted to see if I can get better at what I do. Of course making more money feels really great. I feel content professionally which makes be feel relaxed at home and I spend more “quality” time with my family. It just means I can save more (and of course my wife thinks she can spend more…).

3. Was it tough to start earning alternate income ? Because most of the time everyone has this complain of “not having enough time” ?

Not having enough time is the first thought that will come to our mind. To being with, I evaluated how much time that I spend on unnecessary activity. One of the first things that I did when I started freelancing was make a commitment not login to facebook, gmail, whatsapp etc while at my work. I am required to spend X amount of hours at work. I was determined to use all this time efficiently such that I would not have to spend extra time in the office. Of course, sometimes I would have to work 14-16 hours a day to meet some deadlines. But mostly I wanted to be disciplined and not spend extra time in the office unnecessarily.

And the good thing about freelancing is you can do it in your own time. After I come home “early” from work, I would spend time with my family, do all the regular stuff, put my 2yr old son to bed and login to work. This sometimes would work well, since my clients would be in the US or UK and the time works out perfectly. I would also wake up at 5.30 a.m. instead of the usual 7.00 a.m. on weekends just to get some work done before my family wakes up. At any point I have not worked for more than 15 billable hours a week. I had made this clear to all my clients as well.

4. How did you identify that you can earn alternate income – Because most of the people complain – “I have no idea what can I do other than my job ?”

The starting point for me was, identifying my strengths. What it is that I can offer better than most? How much time can I spare comfortably on a weekly basis? I explored teaching options that are available, both offline and online. I started off with this initially. As I mentioned before, Visual Basic programming was a hobby for some time which I used to generate some income. Basically once I had an open mind, I was not hung up with the type of work. I was more interested on the service that I can provide and its quality. I offered real value for money initially as I built my reputation on the freelancing websites and then slowly picked and chose which projects to bid/work on. So the question is “what skills do you possess that you can leverage to generate an income?”

5. What is one single thing you consider as most important thing one should have in them if they want to create second income source of income ?

Attitude – “Go-Do”

What I mean is I lot of people including me used to have these great ideas when having lunch/tea with colleagues and friends. Some of us have this frustration that “I am wasting my time”,” I should be doing a lot more”, “common guys, let’s start a company on our own”.

But somewhere in the daily grind, we remain in inertia… mostly because we want that comfort zone. You are the CEO, CFO and CTO of your one-person enterprise, be it being employed in a company or working for an alternate source of income. Having the great attitude of believing that you can do it and offer outstanding service to your clients will surely help you succeed.

6. Do you think now when you have a 2nd income source, you have higher confidence to start a 3rd alternate income source too ?

Absolutely! The possibilities and opportunities are limitless. I have just started. I intend to continue this. Some of my ideas require me to invest some capital. I have earmarked a percentage of my Additional Income to fund these. Multiple sources of income -> that’s the long term goal.

7. How has your financial life changed after you have started getting an alternate source of income ? Have your savings gone up ? Has your quality of life improved ?

I have to mention this here. My following of Jago Investor started when trying to correct my mistake of investing in endowment plans. So in the past two years I have corrected my initial mistakes (with the help of Jago Investor blog, Pattu Sir’s Blog etc) as well as started generating my additional income. So, both of these two factors have definitely improved my financial life. My wife and I made a combined decision on what percentage of regular income and additional income we will save. Rest is for spending. By doing this, we are living and saving comfortably.

We save most of our additional income by the way. We do not want to get used spending away this income as it might cause lifestyle inflation which might be difficult to recover from.

Since I am spending my personal time with generating additional income, I am more conscious on spending time with my family. I try to make it “quality” time. I regularly take casual days off where I am completely cutoff from both regular and additional work. I must say I have a supportive wife as well.

This additional income helps me in not worrying about the small stuff. Instead of worrying about the expense most of which is not in my control, I “worry” about increasing my income. This has led to a smoother family life.

8. Do you think having an alternate source of income is some kind of luxury or something which everyone should mandatorily have ?

Different folks, different strokes Manish!

It would be nice to have. I also recognize that some people will not be able to do it. Some folks might genuinely not have the time or would love to spend every free minute with their family or would be really happy with what they earn. My suggestion is people should evaluate if they really want to and can work additionally to generate an income.

Second source of income builds in some security in case of loss of regular job for whatever reason. It could also be a way for a person to transition from a regular job to full-time entrepreneurship.

Sometimes I also wonder if hours of research while choosing a mutual fund which can generate additional 0.5%-1% returns is worthwhile. Can this time be better utilized in updating skills and working for additional source of income?

Thanks

I would like to thank Anupam to accept my invitation to share his answers for my questions and share it with everyone else. I am sure you must have learned few things from this interview. You might have also got some validation from this interview about your own imagination and thinking. You can also see that someone has really done it and it works and now you will do it in your own financial life

Next week in the 4th part of this series, we will be talking about passive and active income and some ideas around it.

Now the question for you is – Are you working on creating alternative income source somehow ? Have you tried it ever ? and failed ? or succeeded ? Please share whatever you want in comments section below and lets have more conversation around this topic !

6 Empowering Dimensions that can help you to grow your income- (Part 2/5)

Posted on by Nandish Desai

You are reading second article of “Increasing your income” series. The overall response to increasing income series is very encouraging. We got some interesting sharing in comments section and we also received personal emails from many of our readers. A lot of people are serious about increasing their income and we are happy our article series is helping them in moving forward. You can read the 1st part of the series – 8 reasons why your income level remains STAGNANT

Grow your Income

You are 100% responsible for the income you generate.

In today’s article we will change gears; we say that “You are 100% responsible for the income you generate – totally. The only question is – Will you acknowledge that or not?”.  We will explore some very important dimensions which are important to understand for you to increase your income. Your monthly bank balance or income is a reflection of how you express yourself or in other words how you show-up in the world.

Here is an inspiring video , which I must have seen  for over 60 times, it taught me several things and today’s article come’s straight from the notes I took while I repeatedly watched this man speaking and expressing himself. You may have already seen the video, this time I invite you to see this video with fresh pair of eyes and from the context of how you can change your conversation around increasing your income.

6 extremely powerful dimensions that can help you to grow your income

Reflection #1: Your bank balance is a mere reflection of your thought balance

If you want to increase your yearly income or your bank balance you will have to first expand your thought balance. Make a conscious effort each day to fill yourself with richer thoughts. Human being is a thought making machine and you always have a choice to be responsible for your thoughts that you give shape to. Good and bad thoughts will always strike you, but which thoughts you choose to give life to is always in your hands. Because it all starts at the thought level and then it (the thought) slowly starts to shape your reality.

What are our articles on jagoinvestor all about ? They are simply our (ie mine and Manish’s) thoughts, that we give language to. Your thought around money and income generation has to be empowering and inspiring. And so give life and energy to only those thoughts, which helps you to grow your thought balance, and this will eventually reflect in your bank balance. Check your thoughts around your boss (majority of people hate their boss or has some or other complaints with their management). Go have a conversation but do not let your thoughts get corrupted. Your organization is the source of your income and you cant afford to nurture dis-empowering thoughts.

Reflection #2: Income is reflection of your personal creativity

If you want to increase your income, then bring the ingredient of creativity to the dish called “your work”. Your work is the ultimate source of your income and your work assignment always gives you an opportunity to express the magic that you hold in you.

Income is a reflection of how much value you create for people/clients and for the organization you work for. You are never paid for spending a few hours in your cabin or company or to warm your chair or to check articles on different blogs or to find the best online deals.

Every day invest some time to figure out ways by which you can bring the creative force inside your work. The way there are more than 10 ways to draw a cat, there are many creative ways by which you can get the same job done. I personally feel that income generation is not a formula, but it is your personal creative process which you discover for yourself.

Reflection #3: Income is reflection of how innovative you get

I love reading books and biographies that are written on the life journey of Steve jobs. His overall body of work and innovative designs will continue to inspire people for years to come. A lot of times I address Manish as “Steve jobs of personal finance” not to flatter him but because he brings element of innovation inside our organization and in his articles and books. Out of working with him I have learnt that income is a function of how innovative you are as a professional?

Inside your current work or job profile check ways to innovate. There are always some or the other hidden ways by which you can enhance your performance or effectiveness. Innovation is an important dimension to ponder, if you are really serious about increasing your income. Innovative people always experience and see income as a byproduct. Their work speaks for itself and money/income simply flows into their life.

Reflection #4: Income is a reflection of how big difference maker you are

Finally, Let me teach you how you can actually increase your income. Let’s say, your current pay package is 10 lakh and you want your annual income to become 1 crore. The solution is simple but may not be easy for you. If you want your pay package to become 1 Crore all you have to do is first contribute inside your field worth 1 Crore. I and Manish care very little about our income or annual business turnover, our focus is always on how much contribution we can make in peoples’ financial world.

We take on new writing projects and constantly design our services by which we can make more and more difference. If you want to increase your income simply create or design your contribution plan for next 5 years inside your respective field. The more you will contribute the more your income will grow and expand.

Reflection #5: Income is reflection of outrageously sharing your GIFTS

There is always one thing in YOU which only you can share with the world. If you are good at singing, give more of that to the world. If you are good at writing, give more of that to the world and if you are good at painting – then share that GIFT with the world.

Whatever you are good at in life, they are your gifts and you have to share your gifts with more and more people.  The more you share them, the more it will reflect in your bank balance. Don’t be stingy in sharing your gifts, outrageously share your gifts. Income is a reflection of how big heartedly you are willing to share your gifts. A lot of advisors come-up to us or mail us saying, “If you will teach everything to investors who will become your client”. Well, in fact it increases flow of inquiries and we have seen our client list expanding year on year. We want to share our gifts and we ask our colleagues to do the same. In your field just continue to share your gifts, just STOP stopping.

Reflection #6: Income is a token of appreciation

Your Income is not a symbol of security, power or just a commercial transaction; it is also not a measure of how successful or unsuccessful you are in this world. Your income is a reflection, it is a mirror that shows you how you show-up in the world, it is a reflection of how much value you are adding into people’s life and how much contribution you make in your respective field.

Salary or fee is ONLY a token of appreciation that you receive when you share your magic and gifts with the world. When you start to see your work as a medium to express your love AND  in return people or organizations express their love by writing a cheque in your favor.

Work on increasing your income this week

In this week we want you to add new and empowering dimensions, which will help you to increase your income and of other people who surround you. We would love to have more and more sharing in the comments section. Lastly, we wish each one of you a very happy and exciting new year. We will continue to share our gifts with you for years to come. Stay tuned for remaining parts of increasing income series.

Let us know which new dimensions you think can help you best to increase your income !