Penny Wise

Penny Wise

penny wise / Gifts — Cash or kind?

Cash gifts are still considered tacky, but many nowadays opt for that than a piece of jewellery, or any other material item. Historically in our subcontinent, wealth was measured by gold or land. Money had no fixed value, and therefore, not considered a good gift.

Managing finances the right way

A. Foreign Currency Account

Ramadan finances

Personally, I wish the weather was always cool and that we could fast comfortably. But the cool Ramadan days will come after many years, and that is something to look forward to. It may sound strange and contrary to what we were supposed to do, but spending

Sensible money management can give peace of mind

Money is an integral and powerful part of our lives. It is difficult to escape it. It is wonderful if you can control it, instead of it controlling you. It is a good servant, but not a good master!

New Year's Resolutions

First off, I would like to wish all my readers a very happy New Year. May we have a peaceful, prosperous, and most importantly, a healthy new year.

penny wise / Financial tips for newlyweds

It is the time of year when wedding preparations take priority over other things. The crisp and beautiful weather of December and January are perfect for big gatherings, and if you have not booked a hall in advance way ahead of the date, it is unlikely you will get any venue at such a short notice.

Spending Beyond One's Means

Living beyond your means is pretty easy nowadays, especially since we live in a time when purchasing on credit has become the norm and ever so easy. However, remember that although it seems normal, it definitely is causing more harm to your current and future well-being.

The Debt Trap

Various banks make loans so attractive to us - before we know it, we have landed with an auto loan to purchase a car or a house loan to purchase a small apartment. All of us want to improve our standard of living and what could be better than having your own car or your own apartment? Sometimes we tend to forget our ability to re-pay!

Credit cards 101

In my mind, I cannot envisage a life without my credit cards. To me, they are a sign of comfort, security, and most importantly, convenience. Despite the benefits though, there is also a downside to too much dependency and over usage.

Eid celebration and young savers

I remember growing up with my siblings and how excited we used to be during the last few days of Ramadan – the reason? Eid was around the corner! Back in those days, life was simple, and the two Eids were the most important celebrations in our lives; meaning new clothes, new shoes and visiting loved ones. Food played a major part, especially after a month of fasting.

Congratulations To The Women Of Bangladesh

March 8, as we celebrate International Women's Day, I salute all women of Bangladesh from the garment workers, leaders in the corporate world, business entrepreneurs, school teachers, women in rural Bangladesh working their guts out and last but not the least home makers.

New Year's resolution — managing your funds

"Money, like emotions, is something you must control to keep your life on the right track.”

Avoid wasteful extravagance

Consumption can be a remedy against boredom and may convey a sense of fictitious power and supremacy, by standing out from the crowd through the extravagance of the expenditure.

Profiting from our poor unsuspecting workers

It saddens me, and I am sure many others, to see how unethical some people can be.

Teaching the value of savings to children

I was recently in the US visiting our daughters and their families. Our four-year-old granddaughter insisted that I bring her a gift every single day. She did not mind how small it was or what it was, but she wanted one.

Importance of sharing financial information with children

Reema (not her real name) passed away and her husband had pre-deceased her a few years earlier. Their three children, two of them living overseas, were left behind as orphans.

The necessity of sharing financial information

In our culture and social upbringing, we tend not to talk about finances, especially between spouses.

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