Stories about money

Money 101: The lowdown on monthly installments

You know you have money managing issues when you resort to borrowing Rs500 from your maid at the end of the month. Living the urban upwardly-mobile middle class lifestyle is a dream for many and the source of income for businesses ranging from fast food to electronic dealers.  And what I am going to harp on about today are the dreaded monthly installments. Picture this: Ayaz and Aziza are a newly married couple living in one of Karachi’s many high rise apartment buildings. Both are working in the corporate sector and together bring in about Rs150,000 (which is possibly the ...

Read Full Post

Money 101: Your fiscal New Year’s resolutions

Dear readers, by now I feel like a strict school headmistress telling you what to do and not do vis a vis your hard earned cash. So my New Year’s resolution is all about making saving fun for you! But since a girl’s gotta do what a girl’s gotta do, before I conjure up fun ways of saving the moolah next week onwards, I present my Top New Year’s Fiscal Resolutions! 1. I will not keep any more than two credit cards The first card would be for my daily petrol filling, coffee buying and grocery shopping needs. And, the second will ...

Read Full Post

Tax contribution: Show me the money

Taxation forms the backbone of state finances. The military, as an arm of the state, relies on state finances for its budgetary requirements. As I am often reminded, the Army is in a state of war, so one should support it without any criticism. However, any commentary that comes through the media or official sources, everyone agrees that the military is underfunded. A political hot potato While we are in a state of war, the RGST has become a political hot potato. The opposition has jumped on the anti-RGST bandwagon, while other parties such as the TI and JI prefer the, “taxes imposed under foreign diktat” line of argument. Whether the RGST is required or not, is a debate for another article. Why those patriotic Pakistanis that should ...

Read Full Post

Wedding bling: For the love of money

It’s that time of the year again. Fathers lament the drain of their pockets, mothers get teary-eyed at every glimpse of their daughters, designers smirk behind their overpriced outfits, tailors get threatening calls from customers, salons get overcrowded, caterers lie their way through fancy menus and it’s probably the only time of the year when choreographers and the “band baaja walas” earn a decent livelihood. It’s the wedding season, where we focus on every little detail but the real wedding itself. From designer clothes to custom-made jewellery, weddings these days are known for more than just a simple event celebrating ...

Read Full Post

Why do you wake up in the morning?

In the 70s, there lived in a make shift two bedroom apartment in Mumbai, a lower-middle class family who did small-time trading with Arab merchants for a living. Today, that family owns not one, but two of the biggest private sector conglomerates in the world. Today, two brothers from that family control the biggest fortunes in the world. The elder of the Ambanis, a fiercely competitive Indian called Mukesh, is worth an astonishing $29 billion. Here’s my question: why does the 53-year-old magnate still go to work? According to the regional averages, he has about 10 years to live. Even if he stopped ...

Read Full Post

Money 101: Can your bank balance afford college?

An impending new year means new beginnings and if most of us could go back in time we would possibly start off with the beginning of our college years or ‘A’ levels onwards. Being a fan of equal opportunities it irks me to see commercial banks roll out cheesy advertisements where a grey haired couple is seen beaming at a son wearing a graduation cap and a daughter wearing a bridal outfit. What if the daughter wants to become a chemical engineer and all the son dreams of is his Deepak Perwani sherwani? But either way, college education is something ...

Read Full Post

Dear govt, wake up and smell the inflation!

Just last week, tomatoes were being sold for Rs60 per kg, but this week they were priced at Rs80 for the same amount. When I asked why the sudden price rise of Rs20 in just one week, I got a short reply: “Baji, saardiyan shuru hogayi hai,” (Sister, winter has commenced.) Now, what do tomato prices have to do with the sudden drop in temperatures? The supply of tomatoes is going to continue just as always- there is no sowing strike, no harvesting strike, no farmer strike, no buyer strike, no transport strike – and there hasn’t been any news of devastation ...

Read Full Post

Fashion could save Pakistan!

In the year 2010, several things have gone wrong in our country and our beloved city Karachi. We’ve had our fair share of bomb blasts, floods, robberies and murders. Let’s face it;  this hasn’t exactly stopped us from having our fun. Karachiites, are strong, determined individuals who tend to have a “c’est la vie” kind of mentality, which is not likely to change in the near future. Of course, it is likely that we will donate to a good cause and proceed to the Karachi Press Club several times a year to be involved in a safeguard of human rights campaign, but ...

Read Full Post

Money 101: How to make some extra cash from home

The first rule to increasing your bank balance is saving. Last week I presented a few home remedies of making your rupee last longer. But money rule number two is far more exciting as it suggests increasing the family income – extra earning not only means extra saving but also extra spending and an overall better quality of life. Get to work Forget detailed scientific research – just browse around your local neighborhood and see the steady benefits of a two income family. They are likely to be the ones whose kids are going to better schools; their disposable income is more so ...

Read Full Post

Money 101: A beginner’s guide to saving

We are living in times of great economic distress and unless you have spent the better part of the past three years living under a rock I am sure you have felt the pinch starting from petrol to sugar prices. As a nation we are renowned for our hospitality, our generosity – in fact most of us use are likely to tell a cautious spender “Stop being kanjoos!” More often than not the butt of most overspending and monetary mis-management jokes is the fairer sex. At the work place you are likely to hear comments such as “she is only ...

Read Full Post