Latest news with #Rs.1.1
Time of India
5 days ago
- Business
- Time of India
Devotee from Hyderabad donates Rs 1.1 crore to TTD
Tirupati: A Hyderabad-based devotee donated Rs.1.1 cr to Tirumala Tirupati Devasthanams (TTD) on Tuesday. Kapston Services managing director Kodali Srikanth and his family members offered prayers to Lord Venkateswara in Tirumala temple earlier in the day. They met TTD additional EO Ch Venkaiah Chowdary at the Ranganayakula Mandapam and handed over their donation in the form of demand drafts. The donor split his donation into two parts — Rs 1 crore to Sri Venkateswara Annaprasadam trust and Rs 10 lakh to Sri Venkateswara Go-Samrakshana trust. Meanwhile, Bengaluru-based devotee Chandrasekhar donated two six-seater battery operated vehicles worth Rs 11 lakh to the TTD. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Economic Times
30-07-2025
- Business
- Economic Times
All you need to know about lifestyle inflation, how it impacts you
Retail inflation in India hit a six-year low of 2.1% in June this year, as per the recently released government data. Even as you celebrate this fall, you need to be aware of another type of inflation that may sneak up on you and end up impacting your finances. It's called lifestyle inflation. This insidious type of inflation has a way of creeping up upon unsuspecting upwardly mobile people, which is why it's also known as lifestyle creep. You face lifestyle inflation if your discretionary expenses rise in line with the increase in your income to keep up with the enhanced lifestyle needs. So, even though you are promoted and get good annual increments and bonuses, you still end up living from pay cheque to pay cheque because your household expenses jump in accordance with your elevated style of living. For instance, if you have a monthly salary of Rs.1 lakh and get a 10% increment, your salary rises to Rs.1.1 lakh. However, you may decide to upgrade to a more expensive car on a loan, or take an international holiday on EMIs, or move to a bigger house with a higher rent. So, you are likely to end up spending more than Rs.10,000, your salary hike. How can it impact you? Debt trap: It's very easy to fall into a debt trap if you are spending more than you are earning, especially if you are relying on credit cards, personal loans, or 'buy now, pay later' schemes to fund your purchases. Failure to reach goals: If you are channelling the increase in income to discretionary expenses, instead of your goals, there's a chance you will face a shortfall in goal corpus or be forced to delay the goals. Budgeting crisis: You may even face day-to-day financial constraints as lifestyle expenses edge out the essential and need-based spends. What are the red flags? Rising credit card debt: If you are buying everything on credit and are revolving the credit card bill or paying the minimum due amount every month, take a step back and curtail your discretionary expenses. Keeping up with the Joneses: Most upgrades are the result of trying to keep up appearances, or matching the lifestyles of your richer friends, family, colleagues, or even celebrities. Stop before you fall into a debt trap. Debt to income ratio: Ideally, all forms of debts should not exceed 40-50% of your income. Check yourself if you are breaching this limit.
