Sunday, 20 December 2009

ATM Risk: Did Banks noticed this?

The other day I went to withdraw some money from my neighbourhood ATM. I took my 2 year old son along. Since in India ATMs are housed in nice Air-conditioned secured room, I left my son in the room without paying attention to his activities. I got into withdrawing money. After I had entered PIN and it was about to disburse me money, I realised that the machine had shut down. When I looked around I realised that it was my son who had switched off the power to ATM and soon he had switched it on. I was worried if my account could have been updated with the transaction but I had not received the money.Bank should take into account this risk as well and place switches accordingly.

Money Resolutions for 2010

I strongly believe that each new year one should have money resolutions separately for oneself. Here are my "Money Resolution" for the coming year 2010.

  1. Keep track of every investment regularly and count & consolidate every month’s investment. So That you know how much money is invested every month and consequently for the whole year.
  2. Every 6 months look how investments are doing, redo them if required.
  3. Start Tax Saving investments early in the financial year.
  4. Every month invest surplus money somewhere, be it even the Liquid funds. But let your money earn at least something for you.
  5. Don’t ever dither on any financial decision. Make it then and there but not without thinking.
  6. Keep yourself up-to-date with personal finance knowledge.
  7. Be little bold in investing for your long-term money.
  8. Maintain proper balance in your portfolio by investing in all kinds of assets.
  9. Keep booking profits if profit goes beyond your expectations.