Success Story – Arunima Sinha

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It is the story of valour and fighting back for life. It is the story that tells us that nothing can stop us but we ourselves. It is the story of an amputated girl Arunima Sinha from India, who scaled the mightiest and most gigantic Mount Everest to become the First Female Amputee to scale Mount Everest.

Two years back tragedy struck this woman , who was a volley ball player at that time. She was thrown out of a moving train by thieves for resisting to chain snatching. One of her legs was crushed by a moving by train. In order to save her life doctors had no choice but to amputate her leg.

“At that time everyone was worried for me. I then realised I had to do something in my life so that people stop looking at me with pity”, Sinha told Indian TV before leaving for the climb.

So, this is really what is required to succeed in life “A never giving up attitude”. However , big the hurdles may come in life the spirit to fight back should never end.

Sinha’s climb was sponsored by The Tata Steel Adventure Foundation and she was trained and guided by Sherpa’s Asian Trekking company in 2012.

Tom Whittaker, a British mountaineer, was the first person with disability(amputated foot) to scale Mount Everest in 1998.


Hats off to Arunima Sinha!!!!
Hats off to Tom Whittaker!!!!
Hats off to people like them who show the courage to fight back and come up !!!!

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Help your children find their purpose in Life- A Viewpoint

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Real happiness is found when we have a purpose in life and we are moving forward towards that purpose.

As long as we are on the journey and are moving each step forward towards the fulfilment of our goal or purpose, we are happy.

If the purpose is not there or we are not clear about our goals or there is confusion in our minds we don’t find real happiness and are lost in life. So, we need to prepare our children to find their goals and purpose in life. Once they are on the track they won’t have much distractions and will be focussed and purposeful.

With purpose and goal comes the will to work hard and achieve it. When we have a purpose we are ready to put the best of our effort .When the goals are not clear, we don’t know on which path we are moving , each step requires lot of effort from our side, each step seems to be very tiring and drenching . So, where is the question of putting the best effort in this case???

Always encourage your children to dream big in life and move high in life. It is well said that ‘Great Things’ were achieved by people who first dreamt big. Letting your children dream and letting them take the flight of their dreams is very important. This will give them a sense of fulfilment in life and in the end of life they will live a peaceful and satisfied life.

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Healthy Lifestyle is the best legacy we can pass to our kids- A Viewpoint

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As parents we should strive to inculcate health conscious habits in kids and teach them how to lead and maintain a healthy life style.


•We along with our kids can go in for morning exercise sessions. Once this becomes a habit for them they will know for themselves the benefits of morning exercise. This will keep them active mentally and physically. Soon they will know the difference between the days they go for exercising and the days they don’t go for exercising.

•Good eating habits form a part of healthy life style. Now a days it is seen that children keep on munching junk food. We as parents need to discourage this and make a shift towards healthy eating habits. We should keep our children well informed about the food value of various foods and how it affects our body.

•Regular Meditation can also be introduced into their daily routine. Once they form the habit of meditating , knowing of course the right technique , this will help them in mastering their mind. Their mind will not wander unnecessarily and unwanted chattering of mind will stop. They will be in control of their thoughts and can direct their mind like a chauvinist to what they want it to think and not expend their energies in unnecessary thoughts.

Make your children financial savvy-Part II

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Q2.What is a recurring deposit ?
I am 12 years old . I want to start a recurring deposit of Rs.1000 in a bank.The interest rate is 8% per annum compounded quarterly. How much will I get after 5 years?

Answer:


Recurring Deposits are a special kind of Term Deposits offered by banks which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account. It is similar to making FDs of a certain amount in monthly installments.


Formula:


Maturity Value = P*((1+R)^N-1)/(1-(1+R)^(-1/3) )

Amount invested each month, P = Rs. 1000

Rate of interest ,R = 8%

Compounded Quarterly ,therefore rate of interest would be
R = 8% ÷4 = 8/400 = 0.02

Number of quarters over the duration of 5 years,
N = (5 X 12 months) ÷ 3 = 20 quarters.
So,
Maturity Value=1000 * ((1 + 0.02 )^20 -1) / (1- (1 + 0.02)^(-1/3))

For Ms Excel type = 1000 * ((1+ 0.02)^20-1)/(1-(1+0.02)^(-1/3))

When you press the enter key you will get
Maturity value= Rs. 73861.87


Q3.What is inflation? My family’s expense is Rs.10,000 or $10,000 per month. At the inflation rate of 2% , how much will be the purchasing power of this amount after 10 years?

Answer:


Inflation is defined as a sustained increase in the general level of prices for goods and services. It is measured as an annual percentage increase. With the rise in inflation , every dollar or rupee you own will buy a smaller percentage of goods or services.

The value of a rupee or dollar does not stay constant when there is inflation. The value of a rupee or dollar is observed in terms of purchasing power, which is the tangible goods that money can buy. The purchasing power of money goes down with increase in inflation.

For example, if the inflation rate is 3% annually, then theoretically a $1 or Re.1 chocolate will cost $1.03 or Re.1.03 in a year. After inflation, your rupee or dollar can’t buy the same goods it could beforehand.


Formula:
Reduced Amount = Present Amount / (1+ inflation rate) ^ Number of years


= 10000/(1+2%) ^ 10
= Rs 8203 or $8203

Make your children financial savvy – Part I

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We should make our children learn to handle finances early in life. Open a personal account for them in a bank and encourage them to make regular savings from their pocket money etc. Putting the habit of saving money is very important, it will help them when they grow up as adults. Growing up as spendthrifts hits them in later stages of life.

Teach them all banking operations such as making demand drafts , putting their money in fixed deposits , handling recurring deposit accounts etc.

Let them fill the forms for making demand drafts for education fees etc.

Let them fill in deposit slips and withdrawal slips of their bank accounts.

Teach them everything about managing, investing and saving money.

Some important calculations and formulas that need to be taught to them.
FORMULAS:
How to use these formulas?

The calculations can be done manually or on MS excel worksheet using ‘=’ sign before the calculations.

Formula1:
Q.1 I want to invest Rs.50000 in a bank fixed deposit for 5 years at 9 per cent interest per annum. How much will I get on maturity?
Formula:

When money is put in a fixed deposit for a certain period, the final amount needs to be calculated using compound interest formula. The interest earned is a fixed percentage per annum but banks usually compound it every quarter. You get more from quarterly compounding than from annual compounding.

Note:

You need to check the terms and conditions with your bank to find out what kind of compounding is done i.e. whether annual compounding or quarterly compounding.

Maturity Value = P * (1+ R% ) ^ N

In the above case ,
Amount Invested i.e. Principal amount ,P = Rs.50,000
Rate of interest per annum ,R = 9%
Time duration in years , N = 5 years.

Case 1

: For annual compounding :
Maturity value = P * (1+ R% ) ^ N
= 50000 * (1 + 9% ) ^ 5
= 76931.19775

Case2

: For quarterly compounding :
The above formula is modified to:
Maturity Amount = P * (1 + R% /4) ^ (4 * N)
= 50000 * (1 + 9/400) ^ (4*5)
= Rs 78025.46

To calculate using Ms Excel use the formula as =50000*(1+9%/4) ^ (4*5) and press enter key once you have entered the formula.(don’t forget to put ‘=’ sign in front of the formula)

Note:

‘ * ‘ Operation stands for multiplication
‘ ^ ‘ Operation stands for ‘raise to the power’