Volunteering – A way of learning

Experience1
We may have chosen a field for ourselves. This may be the field of our interest and the field in which we think that we may be pursuing a career. Volunteering in one’s field of choice is a good way of learning skills. It’s like an on field training or research on real time basis.
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Bonding with children:

Bonding

In today’s fast paced life children are busy in their pursuit of doing something, achieving something and parents on the other hand are themselves busy with their own working schedules. This lack of time leads to loss of touch and loss of bonding between the parents and the children.
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Children – Moneywise

Money

How to plan an outing within budget with children?

Children need to be made sensitive to spending money judiciously early in life.
When it comes to spending money, children usually show insensitivity towards it and are seen to be impulsive buyers. They want to buy whatever they see on shelves.
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Bhag Milkha Bhag (meaning Run Milkha Run) – Movie Review

Bhag Milkha Bhag

It is a movie inspired by the life of Milkha Singh . Milkha Singh is a veteran Indian athelete. Milkha Singh has won several medals for India in events such as Asian games, Olympics etc. He was given the title of ‘Flying Sikh’ by Pakistan’s then president Ayub Khan after winning an athletic event held there.

It is a movie of racing ones dreams and fulfilling them with determination. Milkha Singh’s life was full of hardships and struggle. Inspite of all this he struggled to fulfil his dreams and reached to the top.

Cast:

Farhan Akhtar (Milkha Singh), Sonam Kapoor, Prakash Raj, Rebecca Breeds, Meesha Shafi, Divya Dutta.

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Help your children find their purpose in Life- A Viewpoint

horse-wallpapers

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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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