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Teach your kids the money-saving habit

From pocket money to shopping, here are ten ways to get your children off to a good start when it comes to saving cash.

You can get your kids off to an early start when it comes to the savings habit and it could be one of the most useful lessons you teach them.

Here are ten useful ways parents can help demonstrate the importance of making the most of your cash:

Monitor pocket money

One of the most common and best ways to teach your kids the art of saving from the toddler stage is to give them regular pocket money. But you must ensure they slot some of this aside in an old-fashioned piggy bank, or get them to design their own miniature 'bank' made from a small box. They can slot their pennies away and as it gets heavier this will be a prompt to put even more in there to build up the sum. 

Give them a goal

Adrian Lowcock from independent financial advisers Bestinvest told MSN Money that parents should "set a goal for the money".

"This might be something they want to do or buy that is especially important to them such as a particular toy," he said. You could even encourage them by matching their contributions to their piggy bank, whether in the form of pocket money or cash gifts received for birthday or Christmas.

"When they buy what they have saved up for they will appreciate it even more and you will have instilled into them the lesson that saving can lead to great rewards," Lowcock says.

Get them to help with the supermarket shop

Shopping is another great opportunity to introduce the concept of saving. You can start off by putting together a shopping list and, with your kids, consider the cost of the items. This way, you can let them know what tends to be more expensive (steak, for example!) and that own brand goods tend to be cheaper. Add any vouchers that will take money off your purchases, take along your loyalty card, and you're set for a practical outing that will provide a useful money lesson.

Tips on how to save on your shopping

Show them how to search for a bargain

Explaining the value of comparison shopping, whether online or in shops, is another useful tactic. Also encourage them to wait for sales. Essentially, this boils down to encouraging your kids to search for bargains. You could make them wait for the sales for something they really want to enforce the point, says Andrew Swallow from IFA Swallow Financial Planning.

"This was the best saving tip for my kids as while many a time they might've wanted the latest game or CD, we would make them wait for this - it was hell for us but it did teach them good money habits," he said

Show them how to save on household bills

Rising energy costs are seeing household bills soar. Stressing the importance of switching off lights, and saving energy in whatever manner possible is not only aiding the environment, but also saving money. Tell them to turn off the tap when brushing their teeth, for instance, and explain the benefits of energy-saving lightbulbs. But whether they are five or 15, the key is to teach them the value of money in terms that they will understand, stresses Jason Witcombe from IFA Evolve Financial Planning.

"This means pointing out areas where you feel they are wasting money. So, if they are leaving the tap or heating on, explain that what they have just wasted could have bought some Ben Ten stickers or a Peppa Pig magazine," he says.

Ways to save on your household bills

Let them know the importance of finishing your food

Leftover food is money down the drain. We all remember our mothers telling us to eat our greens, but not only is this beneficial to your health, it also take the pressure off your wallet later in life. So tell your kids to eat all their dinner despite their protests! This way you can also encourage them to cut out sweets and snacks, and stick to healthier alternatives as they won't be hungry between meals. 

Pay them for doing (some) household chores

Try to determine certain tasks around the house that your kids can do and that you will pay them for. This could be anything from washing the car to cleaning the bathroom. The point is not that they will have to be paid to do their bit around the house, but that money doesn't come for free and that they will have to work for it. 

Lead by example

Children acquire a lot of their parents' habits, which will influence the kind of lifestyle they lead when they grow up. Develop your own money-saving routines that your kids will notice. This might include, say, filling up your fridge with supermarket own brands, and cutting out life's luxuries yourself from time to time. 

This could also extend to taking your kids to open their own savings account with a high street bank or building society when you go yourself, adds Jason Butler from IFA Bloomsbury Financial Planning. "The physical act gives them ownership and makes the savings issue real," he said.

Use free local amenities

Take your kids to your local library before you purchase the expensive books they need for school. Regardless of availability, it's a great habit to check before you spend hundreds of pounds on books that they might only need for one term. And be sure to make use of any of other free facilities around your area that are useful and fun - from museums and parks to free days out.

Get creative - and make it fun!

Rather than buying expensive greeting cards, encourage your kids to cultivate their creative skills. This is a hobby they can take into adulthood, and will save them stacks of cash on birthday cards and even presents if they decide to stretch to painting or knitting (especially useful if it helps them make presents for loved ones).

You could also use games to impart money-saving skills. Play monopoly with your children, suggests Jason Butler: "It is the best way to teach them the importance of saving, investing and buying assets."

The Dynamic Duo

Whether or not you call yourself wealthy, there are several things you can do to achieve your dream and keep it too. An experienced wealth management advisor can play a crucial role. A good advisor assesses your investment objectives, risk profile, age, income streams, current wealth, liabilities, cash flow needs, and so on and, then, apprises you of ways to create further wealth and achieve your financial goals. There are no short-cuts to investing and, more often than not, investors burn their fingers trying to time the market. Following disciplined investing principles with a risk-reward balance gives the best results.

Goals, objectives and constraints

The first step is to identify your investment goals, objectives and constraints. Goals can be tactical/short-term—such as investing to fund the purchase of a home within a year—or strategic/long-term, such as investing to fund retirement. Investment objectives would include such things as investing to grow capital, preserve capital, or create a moderate yield. In addition, you need to take into account the constraints you face in implementing the strategy, such as the funds available, your risk tolerance, and need for liquidity.

Risk-return trade-off

The next step is to focus on the risk-return trade-off. Since your 'real' return (net of taxes and inflation) is the true measure of your wealth gain, you need to track your real investment return. It is also crucial to understand the type of risk you are dealing with. We all know the proverb “Don’t put all your eggs in one basket”. Similarly, investors should diversify investments across asset classes, markets, managers, tenor, and so on, to achieve desired returns with acceptable risks. Diversi­f­i­c­ation involves dividing an investment portfolio among different markets and asset categories, such as equities, fixed income and alternate investments. The process of determining which mix of assets to hold varies from investor to investor and also depends on the investment objectives. If the portfolio has the right allocation, it will be well on its way to delivering the investment goals (with an acceptable amount of risk factored in). Therefore, before making any investments, you should first define an investment philosophy and assess your investment objective, risk profile and suitability (see The Ladder to Creating Wealth).

The asset allocation that works best for you will depend on your time horizon and your ability to tolerate risk. You need to pay attention to structural considerations, such as financial planning, trusts, insurance and annuities, and tax and liability management. Once you have decided on the investment objective and risk profile, asset allocation would include all or most of the following considerations/steps:

• Document all assumptions made;
• Calculate rates of return, standard deviation and correlation between different asset classes;
• Check for consistency of returns across economic cycles and time periods;
• Select the asset mix that would optimise the risk-reward payoff—minimum risk for the desired return;
• Agree on the benchmarks to be used for comparing performance results and degree of tracking versus benchmarks;
• Decide if the investments are to be made on a staggered manner (in 3-4 instalments); recommended in volatile markets;
• Implement the desired asset allocation through best in class products based on net of tax expected returns;
• Evaluate portfolio hedging options and cost;
• Active versus passive management; and
• Periodic review and rebalancing

In its more modern form, asset allocation is a forward-looking exercise, which gives significant importance to qualitative overlay, derived from experts. This makes it a more relevant exercise in today’s time than a traditional quant-based asset allocation. This overlay can be in terms of analysis of geo-political events, macro-economic indictors, market sentiment, or any other factor that cannot be captured by standard risk metrics such as standard deviation of an asset class.

With this evolution tactical asset allocation, comes into play. Tactical asset allocation is not about market-timing, but a dynamic strategy that actively adjusts a portfolio’s asset allocation by taking an informed call on the portfolio in reaction to or in anticipation of the certain trends. While the importance of long-term investments and, therefore, strategic asset allocation can't be undermined, in today’s markets, tactical asset allocation, if followed with rigour, can certainly deliver alpha (incremental returns). Once invested, you should monitor and rebalance as and when necessary. You should have pre-defined profit and loss booking levels based on your risk profile. These levels should be periodically reviewed and reset based on the market outlook. You should also maintain certain liquidity in the portfolio to take advantage of sudden opportunities. In addition, you could consider maintaining separate trading and investment portfolios with different investment objectives.

Investment planning and wealth management are complex undertakings that, while rooted in a foundation of fundamental principles, must be approached differently to address the unique needs and expectations of each individual or family. When managing wealth, several competing goals must be considered. Developing strategies to meet those competing goals require careful thought, and, often, several meetings with your advisor before choosing the one that works best for you. Finally, the most crucial factor of disciplined investing is to never get emotionally attached to your investments. There is no harm in cashing out and staying liquid until the next opportunity knocks on the door.

The Ladder To Creating Wealth

A balance between risk and reward is crucial in devising a health wealth management philosophy

Whether or not you call yourself wealthy, there are several things you can do to achieve your dream and keep it too. An experienced wealth management advisor can play a crucial role. A good advisor assesses your investment objectives, risk profile, age, income streams, current wealth, liabilities, cash flow needs, and so on and, then, apprises you of ways to create further wealth and achieve your financial goals. There are no short-cuts to investing and, more often than not, investors burn their fingers trying to time the market. Following disciplined investing principles with a risk-reward balance gives the best results.

Goals, objectives and constraints

The first step is to identify your investment goals, objectives and constraints. Goals can be tactical/short-term—such as investing to fund the purchase of a home within a year—or strategic/long-term, such as investing to fund retirement. Investment objectives would include such things as investing to grow capital, preserve capital, or create a moderate yield. In addition, you need to take into account the constraints you face in implementing the strategy, such as the funds available, your risk tolerance, and need for liquidity.

Risk-return trade-off

The next step is to focus on the risk-return trade-off. Since your 'real' return (net of taxes and inflation) is the true measure of your wealth gain, you need to track your real investment return. It is also crucial to understand the type of risk you are dealing with. We all know the proverb “Don’t put all your eggs in one basket”. Similarly, investors should diversify investments across asset classes, markets, managers, tenor, and so on, to achieve desired returns with acceptable risks. Diversi­f­i­c­ation involves dividing an investment portfolio among different markets and asset categories, such as equities, fixed income and alternate investments. The process of determining which mix of assets to hold varies from investor to investor and also depends on the investment objectives. If the portfolio has the right allocation, it will be well on its way to delivering the investment goals (with an acceptable amount of risk factored in). Therefore, before making any investments, you should first define an investment philosophy and assess your investment objective, risk profile and suitability (see The Ladder to Creating Wealth).

The asset allocation that works best for you will depend on your time horizon and your ability to tolerate risk. You need to pay attention to structural considerations, such as financial planning, trusts, insurance and annuities, and tax and liability management. Once you have decided on the investment objective and risk profile, asset allocation would include all or most of the following considerations/steps:

• Document all assumptions made;
• Calculate rates of return, standard deviation and correlation between different asset classes;
• Check for consistency of returns across economic cycles and time periods;
• Select the asset mix that would optimise the risk-reward payoff—minimum risk for the desired return;
• Agree on the benchmarks to be used for comparing performance results and degree of tracking versus benchmarks;
• Decide if the investments are to be made on a staggered manner (in 3-4 instalments); recommended in volatile markets;
• Implement the desired asset allocation through best in class products based on net of tax expected returns;
• Evaluate portfolio hedging options and cost;
• Active versus passive management; and
• Periodic review and rebalancing

In its more modern form, asset allocation is a forward-looking exercise, which gives significant importance to qualitative overlay, derived from experts. This makes it a more relevant exercise in today’s time than a traditional quant-based asset allocation. This overlay can be in terms of analysis of geo-political events, macro-economic indictors, market sentiment, or any other factor that cannot be captured by standard risk metrics such as standard deviation of an asset class.

With this evolution tactical asset allocation, comes into play. Tactical asset allocation is not about market-timing, but a dynamic strategy that actively adjusts a portfolio’s asset allocation by taking an informed call on the portfolio in reaction to or in anticipation of the certain trends. While the importance of long-term investments and, therefore, strategic asset allocation can't be undermined, in today’s markets, tactical asset allocation, if followed with rigour, can certainly deliver alpha (incremental returns). Once invested, you should monitor and rebalance as and when necessary. You should have pre-defined profit and loss booking levels based on your risk profile. These levels should be periodically reviewed and reset based on the market outlook. You should also maintain certain liquidity in the portfolio to take advantage of sudden opportunities. In addition, you could consider maintaining separate trading and investment portfolios with different investment objectives.

Investment planning and wealth management are complex undertakings that, while rooted in a foundation of fundamental principles, must be approached differently to address the unique needs and expectations of each individual or family. When managing wealth, several competing goals must be considered. Developing strategies to meet those competing goals require careful thought, and, often, several meetings with your advisor before choosing the one that works best for you. Finally, the most crucial factor of disciplined investing is to never get emotionally attached to your investments. There is no harm in cashing out and staying liquid until the next opportunity knocks on the door.

If you Are you still confused whether to buy a house or rent one, makaan’s MBRI can help

Instrument Of Decision

Figure Out Your Chances

Here’s what the MBRI index has to offer the buyers and how it helps in decision making

The Index

MBRI assists you in dealing with the buy or rent dilemma

What’s on offer?

• Numerical values to give you a clear picture
• Quarterly updates
• Available free of cost

Where it lacks?

• Limited only to 7 cities.
• The index is a facilitator; decision to buy or live on rent is also dependant on an individual’s financial profile

***

If you did not buy a house till now, the decision to buy one, or continue to live on rent is nothing short of an ordeal. The residential property market being the way it is, there is no real help at hand. So, most of us either end up taking the decision based on our understanding of the market, or on our financial ability to make a purchase.

Recently, there seem to be some ray of hope which can cast away the shadows. Realty portal Makaan.com has launched the Makaan.com Buy vs Rent Index (MBRI), a tool that aims to help property seekers take an informed choice between buying a property, or living on rent.

What type of index? MBRI represents a numerical value after considering a number of factors, such as average capital value of property, average rental value, the rental yield, the historical capital price movement, the historical rental movement and the inflation.

The index has been collated at the city as well as the sub-city level. Till date, the index covers seven cities—Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Mumbai and Pune. The current index, now, covers 32 micro markets in these cities, and aims to update it on a quarterly basis.

A low MBRI (between 1 and 20) indicates that it is much less expensive to buy a home than to stay on rental in a particular city/sub-city. Whereas, a high MBRI (25 plus) denotes that it is much more expensive to buy a home than to stay on rent. On the other hand, a numerical value between 21 and 25, by MBRI, represents the neutral range, which indicates that the final decision to buy, or take on rent should be based on the individual’s financial situation.

Is it for You? MBRI is the first index of its kind. Although, there are other indices—National Housing Bank’s RESIDEX and Liases Foras’ RESSEX—they only represent the movement in real estate capital values. The general opinion about indices, especially, in the residential property market is that the penetration and popularity is low. Says Gulam Zia, national director, Research and Advisory Services, Knight Frank (India), “People at large still rely upon simple capital values, or rental rates and find it difficult to relate with these indices.”

How important is it for you? While making a decision based on the valuation done by MBRI, you should realise that it is only a tool which acts as a facilitator to help you arrive at a decision. You cannot base your decision solely on the results thrown by this index. The index, to a great extent, takes into account the factors affecting a buyer’s decision with regard to the situation of the property market. You will also need to have a clear picture of your financial standing before you arrive at a decision. A combination of the price trend in a particular locality and a buyer’s financial status will determine his/her affordability for properties in a locality.

However, Aditya Verma, chief operating officer, Makaan.com, while putting the findings of the index rightly, says: “The findings will vary from one person to another depending on their income and savings.” He goes on to suggest that the index is meant for reference. It gives buyers an idea depending on the relation between capital values and rentals in a locality, while making a choice between buying or renting a property.

choosing the right broker is crucial to a successful investing experience

Choose Carefully

Finding The Right Broker

• Registered Brokers Only Check if it is registered with Sebi and stock exchanges. Besides lowering the risk of fraud, it also ensures that you can approach the regulator should a dispute arise.
• Credential check Find out the broker’s track record and the level of service it delivers. The website of the regulator and the stock exchange is a good starting point for this.
• Sound initial documentation Make sure that you produce the KYC form and sign the member-client agreement, and read them thoroughly before you sign on the dotted line.
• Track of all trades Ensure that you get a contract note for each day you trade. The contact note confirms that the broker has executed trade on your behalf. It could come in handy in case of a dispute.

• To invest in the stockmarket, one has to avail the services of a broker or a sub-broker. They are intermediaries who provide an interface to buy or sell stocks. It is for this reason that it is important to know how to deal with them. Here we list a few basic points that you cannot afford to ignore while selecting a broker.

  Check whether it is registered. The first rule in selecting a stockbroker is to check whether it is registered with the Securities and Exchange Board of India (Sebi), the market regulator, and stock exchanges. Even if it is a sub-broker, avail its services only if he is registered. This will help you in two ways. First, the chances of fraud are less. Second, if you find any shortcomings in its services, or if you find that you are being charged higher than what is mentioned in the contract, you can take this up with the regulator. However, regulators may not be able to intervene if you have taken the services of an unregistered broker.

  Check his credentials. This is the second step of investigation. You need to check the credentials of a broker beyond its registration with the regulator. For this, you have to go through the websites of Sebi and the stock exchanges. If the broker has been slapped with a fine or debarred from some activities in the market, you will come to know about it this way. Several such instances do raise a question mark on the integrity and services of the broker. You should also speak to existing clients of the broker to get an idea about the quality of its services.

  Ensure the initial documentation is sound. Make sure that you produce all the documents needed to open an account with the broker in order to avoid hassles in future. One of the most basic documents is the KYC (Know Your Client) form, which requires you to produce things such as identity and address proof, as well as PAN details.

  Another document that you will come across is the Member-Client Agreement, a pact between you and the broker in which you agree to trade through the broker and the broker approves of the genuineness and financial soundness of the client. Do not forget to go through risk disclosure section, which specifies the risks involved with investing. You would also get a unique code that you are supposed to quote in all communication with the exchange.

  Most importantly, many a time customers find that the broker is charging much higher than what it earlier promised. In all likelihood, this is because the broker was hiding a few charges to get the customer. Therefore, you should carefully go through agreement between you and the broker, which clearly specifies the various services and the corresponding charges. Also, keep a copy of these documents—you may need them later.

  Keep track of trade-related documents. Brokers are required to send a contract note after each day’s trade. The contract note contains all the information related to the trade. It confirms that the broker has executed a particular trade on your behalf. If you do not receive them, do not forget to ask it from your broker immediately. Should a dispute arise, it could come in handy.

First think why you want to start a business and you will understand which business to start

Introduce Business Skills At A Young Age

Laura Parkin, the co-founder and chief executive officer, National Entrepreneurship Network (NEN). She was a venture capitalist and believes that entrepreneurs should have the potential to do everything by themselves. Parkin, who has no airs and is all smiles, settles down to tackle our questions about setting up on one’s own. Excerpts.

How has the entrepreneurial ecosystem developed in India over the last five years or so? How would you compare it with those in more developed ecosystems?

We are talking about high-potential companies, a new group of professional entrepreneurs. We are working with young entrepreneurs and helping them at the academic level. The number of people coming up with business ideas is exponentially different from them who had started five years back. This has helped as we have a slightly better ecosystem now. But, compared to more developed countries, we face a number of challenges. I have been in India for 10 years. I have also worked in Silicon Valley, Moscow; I grew up in Hong Kong. When I compare these ecosystems with that in India, I find that there are many challenges here which have nothing to do with the business, but cost money. Corruption is a challenge. It becomes difficult for entrepreneurs to get permissions and licences. However, there are many upsides too. There’s an increasing amount of recognition in the domestic market. We lack healthcare, effective education for people, buildings, power, clean water. We have almost nothing, which is great news for entrepreneurs. Venture capitalists are already investing in healthcare, small scale hospitals, telediagnostics...

You are working with young people. Is it good to start at a young age? What are the advantages?

It is imperative for us to start introducing entrepreneurship skills at a young age. What is entrepreneurship? It’s being creative, having ideas, and practicing to figure out what is a good idea and what is a bad one (the fancy term is ‘opportunity evaluation’). There’s no place in the education system, in India, for young people to learn and practice these skills. Here, you can achieve success by passing a standard set of examination. We introduce the space to train aspiring entrepreneurs. Many among them are about to start their own companies and want to learn about an industry. Some join as e-leaders of entrepreneurship cells in educational institutions, which have partnership with National Entrepreneurship Network (NEN). If someone from NEN grows up to become a successful entrepreneur, we ask them to extend their support. We also have clubs to maintain network and learn about opportunities.

Do venture capitalists really look for young people?

I was a venture capitalist. I can tell you that raising venture capital is a definition of success. We, at NEN, are trying to educate entrepreneurs that there are many business models which are not fit for venture capitalists. Venture capitalists buy some part of a company. One day they sell that. They either sell the entire company (cash out), or go public and sell their shares in the market. People don’t realise that if they take venture capital, they are greedy to sell their company one day. Not every company can use enough money, not every company can be sold like that, but every entrepreneur wants to sell. Also, it requires very high returns in a short time on a large amount of money. Venture capitalists will try to mitigate risks. So, most of them look at seasoned people. There are exceptions, like Redbus. It doesn’t make sense for first-time entrepreneurs to start a business that requires so much money.

Tell us about angel investors...

Angel investors invest in a broader group of companies. Our major concerns is that in the next 2-3 years there might be lack of angel funding. Angel investors have a number of flexibilities in terms of investment. But, they should know about the business, and about the opportunities it has. There should be a good chemistry between the entrepreneur and the angel investor. Angel investors should act as mentors. Get them on your advisory board. Make them feel that they are a part of the team. Then the money will automatically come.

It is tough to get funds in the beginning. Can entrepreneurs go to banks? What are the other options?

Banks are not a great option. Banks lend on collateral. But, we are hoping to work with some banks to teach them how to lend to entrepreneurs. Now, many young entrepreneurs are using their own capital to get started, their families are giving them the money, or they find a good business model. For instance, Abhishek Humbad started NextGen, an energy and environment consulting company and made money out of the consulting business. He made good use of incubators and figured out a cash-flow business. Once they got the cash flow going, they could invest in more capital intensive businesses. They had been able to bootstrap very effectively. Entrepreneurs need to figure out a smart business model, do some bootstrapping and only after achieving some level, start looking at angels and venture capitalists.

Your advice to people leaving their jobs to start business...

First think why you want to start a business and you’ll understand which business to start. If you think that you work 90 hours a week, you have no personal life, so to control your schedule you will start a business, understand that you will need to trade a secure paycheck to take control over your life. Also, a business requires all of your time.

Quick Facts About Nen

• Provides critical support to start-ups and early-stage entrepreneurs through high-impact entrepreneurship education
• Gives fast-track access to incubation, funding mentors and experts
• Partners over 512 top-tier academic institutes in India to help them develop vibrant entrepreneurship ecosystems on campus
• Runs Entrepreneurship Week India, the country’s largest entrepreneurship awareness campaign

Your Online Identity

Buying a domain name is just like purchasing your own real estate in the huge and complex world of the Internet.

There could be several reasons for buying a domain name. As branding experts will tell you, your own website is a powerful tool to enhance your online brand, apart from having your presence in social networking sites such as Facebook, LinkedIn and Twitter.

If you have a blog on a blog hosting site, you might want to buy your own domain name so that you have a URL that directs people to the blog. (Short for Uniform Resource Locator, URL is the unique address for a file that is accessible on the Internet.) Or, you might want to blog on your own website. For example, if someone, say, Rajat writes a marketing blog, he can buy the domain rajatmarketing.com. Such a domain name can be used with email signatures or in visiting cards to increase the visibility of ‘Brand You’. Jobseekers can have their resume up on a website with their own name. An online resume is a great way to reach out to employers. Similarly, for businesses, having a website is a must.

Once you have bought a domain name, the next step is to use a hosting service which, essentially, gives your domain a ‘home’ on the Internet. Following that, you would need to create a website. People can now visit your website by typing your URL in the address bar, or by searching for it on a search engine. We will discuss this further in a subsequent issue.

How to choose a domain name

The name: This refers to the letters that come before the dot. If you are creating your personal website, you would naturally want it to have your name or, maybe, your name and surname. Choose one depending on your preference and availability. It should also be easy to type and remember. For instance, if your name is Sujit Bhattacharrya, you might choose ‘sujitb’, and so on. For businesses, the name of the firm is the domain name to go for, unless it’s already taken. For new businesses, it is best to find a domain name and register it even before you have finalised the business' name, so that your site has the same name as your business.

Says Saptarshi Roy Chaudhury, a search marketeer and an Internet business consultant: “Looking at it purely from the search engine’s perspective, a descriptive domain name is better. For example, if you are offering application development for mobile phones, a domain like mobileappdevelopment.com or mobileappdeveloper.com can be helpful in getting search engine visibility for those terms.”

The extension: You can opt for one of the many extensions following the dot (referred to as the Top Level Domain or TLD). Which one should you choose? Says Warren Adelman, president and chief operating officer, Go Daddy, an Internet domain register and Web-hosting company: “While a .com might be great for business, a .org is a better choice for a non-commercial enterprise like non-profit organisations. One could also use .me for a personal website.” (See To Each His Own for a common list of TLDs.)

What if your preferred domain name is unavailable?

In such cases, try out some alternatives by changing the name or the TLD, or both. These will be suggested to you just as alternate user names are suggested while creating an email ID.

However, if you can wait, and really want a domain name that is already taken, you can backorder it if the registrar gives you the option. If the person owning the domain does not renew his registration, it is made available to you, provided there is nobody else in the queue before you.

The cost: The price that you pay for a domain can vary greatly depending on the popularity of the domain you want to buy. For a domain name that has your name, with a .com or .net TLD, expect to pay around Rs 500-1000 every year. If available, .info domains are the cheapest—they will cost you less than Rs 100 per year. When buying a name for a business, domains with obvious names can cost you a lot. For example, you will have to fork out more than Rs 60,000 for disocuntandbargains.com and almost Rs 2 lakh for goodmeal.com.

Where to buy: There are companies (called registrars) licensed to manage and sell domain names. Visit www.icann.org for a list of ICANN-accredited registrars. See Where to Buy for a list of top five domain registrars.

Support: The registrar should have multiple customer support options—email support, support tickets and also a 24x7 customer helpline. If your registrar is based abroad, you are more likely to use email. A good registrar will reply to your query within a few hours. There are also how-to guides, blogs and user forums where you can get the information you want.

Names to avoid

• Names that are commonly mis-spelled, such as fluorescent.com and aficionado.com.
• Names that could fall under trademark or other legal bindings from other businesses (could lead to legal issues).
• Very long domain names with multiple hyphens (difficult to remember), such as how-to-buy-a-domain.com.
• Domain names that could be misread and misinterpreted, such as Expertsexchange.com
  and whorepresents.com.

To each his own

A list of the various top level domains (TLDs) available

• .com - Most popular of all domains, vital for those seeking visibility
• .co - Abbreviation for COmpany, COmmerce, COmmunity, etc.
• .org - Meant for charities and non-profits
• .co.in or .uk - Gives a regional connection
• .net - Best option when .com is not available; can also be registered to protect your brand
• .info - Used for sites with information on any topic; hosted by a business or an individual
• .gov - Can be used only by government entities
• .me - For you and your product. Perfect for blogs, resumes and personal pages

Source: www.godaddy.com

Six steps to buying a domain

1. Get a fix on the domain name you want to buy.

2. Decide on the vendor you want to buy it from.

3. Visit the domain website and find out whether the domain name you want is available or not.

4. If it is not available, try some close alternatives by changing the name or the TLD. The website will also suggest some options to choose from. If you are creating a website for a business, you can buy all the domain names across multiple TLDs.

5. Add the domain or domains to your cart and complete the registration process. You will be asked to provide information such as name, telephone and email ID. If you do not want to pay a premium for a 'Private' domain registration in which case your identity is kept a secret.

6. Make the payment with a credit card. Following it, you will receive information about your domain account manager.

Glossary

There are some important terms that you should know before you purchase a domain name. Here, we list a few of them.

ICANN: An abbreviation for Internet Corporation for Assigned Names and Numbers, it is a not-for-profit organisation that is responsible for managing and co-ordinating the entire naming system on the Internet.

Registrar: This refers to a company from which you can buy a domain name. Such companies are allowed to manage a database of domains and sell them to the general public, and they are bound by a set of regulations.

ICANN has a list of accredited registrars on its site.

Registrant: Anyone who buys a domain name.

WHOIs: It is a database of all the domain registrations in the world. The registrar is required to submit the contact information of the registrant to ICANN. The information is public and can be accessed by anyone using the WHOIS database.

Top level domain (TLD): It refers to the letters that come after the dot in a domain name, such as .com, .org, .info or .net. TLDs can be general (such as .com), refer to a country (like .us) or to a specific purpose (like .biz or .edu).

Domain account manager: When you buy a domain name from a registrar, you have an account with him. After logging in with your username and password, you can view all the information and manage all your transactions, such as purchases and renewals.

What you should know while buying gold in physical form...

Today, you can buy gold either in paper form, like through an ETF. Or, you can buy gold the old-fashioned way and hold it in physical form like coins, bars or jewellery, which is the focus of this article.

You can buy physical gold through a jeweller or a bank. Jewellers are the traditional channel for purchasing gold, typically in jewellery form. But, more recently, banks have also started offering gold bars and biscuits for sale. Wherever you buy it from, make sure it’s a trusted jeweller or a bank that will provide you a certificate.

If you buy gold coins or bars worth more than '50,000, then you will need to show your PAN card and an ID proof. If you buy gold from a jeweller, then you don’t have to produce any documents.

The advantages

Tangible: Some of us want to be able to touch, feel and hold things that we own. Clearly owning gold in metal form like a coin or jewellery offer this. Additionally, this gold can be used for consumption purposes in that one can wear it for ornamentation, or use it during religious occasions. By accumulating jewellery early, one can start building a pool of assets that one can gift to immediate family members at the time of their respective weddings. This is a benefit and satisfaction that you will not get if you hold gold ETFs.

Store of value: Gold coins and bars are a good form in which to hold some of our wealth. At any time one wishes to convert them into cash, all one has to do is to go to the local jeweller and receive the then prevailing price in return for the gold. Of course, the price can fluctuate, but given that gold is a scarce resource in the world, one can be sure that one will get some value for this at all times.

The disadvantages

Purity: Unless you are buying a gold coin or bar from a bank where it comes with a certificate of purity, you might run the risk of buying gold that is not of a very high purity. This is especially true if you are shopping at a jeweller where you are not sure of their credibility and quality. Only buy from trusted sources.

Storage costs: Physical gold needs to be stored in a safe place as there is a threat of it being stolen. So, you need to protect it by keeping it in a bank locker or a commercial vault. This, however, comes at a cost as you will have to pay a charge to safely store your gold in either of these places. You might also need to spend money on gold insurance.

Lack of interest income: Holding gold, especially when it sits idle in a locker or at home, earns the owner zero interest income. Unlike financial instruments such as FDs, bonds and stocks, that can earn interest or dividend income, gold does not provide a recurring income.

Note: Purity and storage costs are not issues you need to worry about if you buy gold ETFs. However, even if you hold ETFs you will not get any interest income on your holding.

Tax impact

The tax treatment to the profits booked on selling physical gold is similar to that of any capital asset. If you invest in physical gold in the long-term, that is more than three years, then the tax deducted will be 20 per cent of the gains. On the other hand, if you sell it before three years, the tax treatment will be according to the tax slab you fall in depending upon your income bracket. Any gold you hold in physical form will be liable for wealth tax.

Selling it

If you are selling coins or bars and the purity is not in doubt, you can get the current available market price. However, recognise that banks will not buy your gold back from you.

Chances are you will have to go to a gold merchant, or a jeweller. Many of these jewellers might charge you a hidden transaction fee — they will not pay you a full price for what your gold is worth.

Also, if you are selling your jewellery to them, many will not pay for the workmanship associated with the jewellery. As a result, you might not recover the same prices as you paid for the jewellery, even if the price of gold has not moved at all since you first bought.

Selling physical gold is generally easy, but comes with some associated transaction costs.

Source : Media

SELLING SHORT

SELLING SHORT
• Bearish markets and falling stock prices don’t always mean losses. You can also profit from falling prices if you use the right strategy and are able to take quick decisions.

• The most common bear market strategy is short selling—or selling shares you do not own in the expectation that the price will fall. When the price falls, you buy back the shares at a lower price.

• Buying back shares to square a position is called short covering. The difference in the price is your profit. Of course, this is a risky gambit and can result in a loss if the price rises after you sell.

• Till April this year, it was necessary to cover short selling during a trading session. You had to compulsorily submit shares you sold by the end of the day. Failure to do so attracted a penalty.

• But the introduction of the Stocks Lending and Borrowing Scheme allows short sellers to borrow shares from brokers and carry forward the transaction for up to one week.

HOW SELLING SHORT WORKS
Suppose you short sell 500 shares of a company at a price of Rs 100 each. You are expecting the price to fall to Rs 85. The table on the right shows your profit (and loss) if the share price falls (or rises). The calculation does not take into account the commission payable to the stock broker on each transaction.

500 shares short sold at Rs 100	Scenario I: The share price falls	Scenario II: The share price rises
Stock price	85	110
Difference from your selling price	-15	+10
What you pay to buy back shares	42,500	55,000
Your profit (or loss)	7,500	-5,000
All figures in Rs

KEEP IN MIND
• If you are unable to square short selling, the exchange buys shares in an auction and gives them to the buyer. That can lead to losses if share price is higher.

• Discipline is important. Buy back shares when the target price is reached. Similarly, set a strict target to cut your losses and buy back if the price starts rising.

• Don’t wait till the fag end of the session to buy back. Short covering can push up the price of a share as short sellers scramble to buy back.

• Too much short selling can cause a share to be oversold. that is actually a bullish signal as short covering may cause the price of the share to go up.

MARKETS : Bull OR Bear

Stock markets move up and down in recurring cycles. A prolonged rise in stock prices is known as a bull run while a consistent decline is called a bear market. These are different from short-lived upward or downward “corrections” in stock prices. Typically, a bull run or a bear market means at least a 20% change in the index value. Nobody can accurately predict stock market movements, but they can be explained. Here’s what moves the stock markets.

BULL MARKETS
Bullishness in the markets can be the result of an economic boom which in turn fuels optimism among investors. The Indian markets witnessed the longest bull run during the past five years (see graph below), a period during which the BSE Sensex gave a spectacular annualised return of almost 47%.

Indicators of a Bull Run
• Rising corporate earnings
• Low inflation
• Low interest rates
• High fund flows and liquidity
• Increased investor interest

Bull phase: 15 May 2003 to 8 Jan 2008
Sensex peak: 20873
Sensex low: 3012
Rise: 592%

BEAR PHASES
Bear phases occur in times of an economic downturn and when there is all-round pessimism. Unlike a correction, a bear market is marked by a consistent fall in stock prices over a long period of time. The Indian markets could slip into a bear phase. Since the beginning of this year, the Sensex has lost almost 50%.

Indicators of a Bear Phase
• Falling corporate earnings
• Rising inflation
High or rising interest rates
• High fund outflows and liquidity crunch
• Low investor interest

Bear market: 14 Feb 2000 to 24 Sep 2001
Sensex peak: 6151
Sensex low: 2627
Decline: 57%