Moneylife Events
Safe and smart money advice for college students
Moneylife Foundation conducted a financial literacy seminar for 250 students of Vaze College in Mulund, Mumbai
 
There is little in college education that can prepare you for the intricacies and the realities of managing your money. Before college students go out to get a job and earn their first salary, it is important for them to have a good understanding of what it takes to protect their money and invest smartly in a manner that would deliver prosperity in the long term.
 

Moneylife Foundation conducted a special programme for students –“Be Safe and Smart with Your Money” at Vaze College, Mumbai. The first session was conducted by Sucheta Dalal, managing editor of Moneylife and founder trustee of Moneylife Foundation. She pointed out to the students as to how one can avoid financial mistakes. The second session was addressed by Debashis Basu, editor and founder trustee of Moneylife Foundation. He articulated the simple steps for investing smartly.
 
Ms Dalal started her session with a brief introduction about scams in India. A person’s knowledge or smartness does not guarantee that he/she cannot fall prey to the confidence tricksters. She narrated to the packed audience incidents, where “relationship managers” have taken genuine and educated customers for a ride. She also explained how usurious are the rates charged on credit card outstanding. Ms  Dalal talked at length about the new phenomena like Phishing and Vishing on the internet that traps the gullible public and robs them of their hard-earned money.
 
There are different types of scams – lottery scam, job scam, conference scam and interest waiver scam out to get us. The numbers of scams reported are infinite. In her session, she also discussed that one should keep one’s financial life simple and one should invest in just a few products—products that are safe and well regulated. Ms Dalal spoke about the dubious schemes like QNET, Pearls, City Limouzine, Japan Life, which could be clubbed to category called Pyramid scheme or chain money schemes. These schemes claim to provide extremely high returns luring the unsuspecting savers and then vanish into thin air.
 
In the second session Mr Basu explained the importance of saving regularly to secure one’s future financially. Everybody can make financial decisions, he said if they stick to some simple principles. He explained the principles of compounding under different scenarios. The effect of compounding is slow in the initial periods, but as time passes on, the power of compounding takes over and the wealth created is huge. The key rule is to save as much as possible as early as possible in good financial products.
 
He illustrated several situations to explain this concept. When investing over a 20-year horizon, even if one starts five years or 10 years later and invests a higher amount, they will end up with a lower amount at the end of the 20-year period, than a person starting at the beginning of 20 years.
 
Many students look to earn a good income when they start work. Mr Basu highlighted that savings has nothing to do with income. It is more important to spend smartly.  
 
Where does on invest? Mr Basu explained to keep it simple. While not going in to detail on the various investment products available, he gave the suggestion of just one. As college student have time on their side, he advised them to invest in equity mutual funds and stocks with an investment horizon of 15 years or more.
 
The event was concluded with an interactive question and answer session.

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COMMENTS

Agyat Vyakti

9 months ago

Off the topic. This is just for awareness.. Qnet and MLM are using friends and relatives to dupe you... You may like to read Qnet modus operandi with screen shots and facts and how to avoid them here ... Please share for public interest.. Qnet Scam in delhi by Ashwin Baluja and Prithvi Raj Grover http://qnetindiascam.blogspot.in/

Deepak B

1 year ago

Great iniative....must have such programmes organised by Principals of all colleges, as this category is the most vulnerable to greedy and experienced fraudsters who know how to manipulate young aspiring minds.
Kudos Moneylife!!! Keep up the good work.

Nifty, Sensex trendless - Thursday closing report
As long as Nifty is above 8,600, the trend favours the bulls
 
We had mentioned in Wednesday’s closing report that Nifty has to stay above 8,580 for the rally to continue. The major indices in the Indian stock market were range-bound and closed with small percentage gains of less than 1% each. The medium term trend of the major indices remains upward.
 
 
 
The top gainers and losers of major indices are given in the table below:
 
 
The logjam in parliament and anxiety surrounding a rate hike in the US subdued the Indian equity markets on Thursday, with a barometer index closing the day's trade in the red.
 
A day after it gained 323 points, the 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) closed the day's trade in the red, down 134.09 points or 0.47%.
 
The wider 50-scrip Nifty of the National Stock Exchange (NSE) fell by 43.70 points or 0.51 percent at 8,589.80 points. The Sensex touched a high of 28,578.33 points and a low of 28,315.37 points in the intra-day trade.
 
Key economic data revealed a recovery in the US economy just before the FOMC (Federal Open Market Committee) meet on July 29, which will give further clues as to when the rate hike might take place there. With higher interest rates in the US, the FPIs (Foreign Portfolio Investors) are expected to be led away from emerging markets such as India.
 
The FOMC meet is followed by the future and options (F&O) expiry in the Indian equity markets on July 30. The Indian monetary policy review by the Reserve Bank of India (RBI) is scheduled for August 4. All these upcoming events are making the markets volatile.
 
The markets also expects a rate cut by the RBI during its monetary policy review as it may be the last time in this calendar year to cut lending rates before inflation spirals up again and the US Fed decides on its own rates in September.
Sector-wise, healthy buying was observed in consumer durables, automobile and oil and gas stocks. However, banks, capital goods and healthcare scrip came under intense selling pressure.
 
The S&P BSE consumer durables augmented by 177.19 points, the automobile index gained by 94.18 points and the oil and gas index rose by 48.69 points.
 
The BSE S&P bank index declined by 155.51 points, the capital goods index receded by 125.10 points and healthcare index was lower by 108.55 points.
 
Major Sensex gainers during Thursday's trade were: Tata Motors, up 3.11% at Rs.401.35; Dr Reddy's Lab, up 1.62% at Rs.3,910.35; Mahindra and Mahindra (M&M), up 1.25% at Rs.1,358.35; Maruti Suzuki, up 1.11% at Rs.4,235.65; and NTPC, up 0.77% at Rs.138.25.
 
The major Sensex losers were: Lupin, down 5.23%  at Rs.1,728.60; Bajaj Auto, down 5.02% at Rs.2,487.75, Tata Steel, down 3.58% at Rs.270.30, Tata Consultancy Services (TCS), down 1.59% at Rs.2,487.95; and Bharti Airtel, down 1.54% at Rs.432.60.
 
Among the Asian markets, Japan's Nikkei was up by 0.44%, China's Shanghai Composite Index rose by 2.44%, and Hong Kong's Hang Seng gained by 0.46%.
 
The closing values of the major Asian indices are given in the table below:
 
 
All European markets were flat as well as US pre-market futures.
 

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SEBI bans 900 entities for tax evasion from capital markets
"We have given all the details to the CBDT (Central Board of Direct Taxes) and we have told them that they should probe them," SEBI Chairman UK Sinha told reporters
 
Market regulator SEBI (Securities and Exchange Board of India) has clamped down on a large number of organised syndicates who had set up 'shops' to convert black money into legitimate-looking funds through the stock market platform. This is a tax evasion racked aggregating to Rs5,000-6,000crore.
 
While more than 900 entities have been banned from capital markets by the SEBI, it has also referred these cases to the Income Tax Department for further investigations.
 
"We have banned more than 900 entities and my guess is that the tax avoidance that has happened in these cases is more than Rs5,000-6,000 crore," SEBI Chairman U K Sinha said.
Giving a "complete picture" on this menace, the SEBI chief said, "In any country or in any market, there are always people who are trying to find loopholes and take advantage. These are the people who have criminal intent. They are not here to help in the growth of the country. They work with a desire to corner money with criminal intentions."
 
"We have given all the details to the CBDT (Central Board of Direct Taxes) and we have told them that they should probe them," Sinha told reporters.

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COMMENTS

manhar kothari

1 year ago

SUCH PROACTIVE ACTION BY SEBI IS WELCOME.

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