u/kawaguchiko

Liaisoning business is winding up after 20 years. I'm the second generation running this.

There is one employee who has been with us for around 15 years, managing the accounting part, and now asking for a lumpsum parting bonus like a one time loyalty bonus. His current salary is 50000 per month, works part time with us now(earlier full time). There was no gratuity/pf/insurance benefits in the salary (it's a small business).

How much bonus is realistic, reasonable, and fair (on both side's perspective). I don't want to disappoint him, at the same time I can't stretch a lot, as I have expenses for winding up as well.

Experienced business people - Please advise.

A few months back I was bitten by the credit card spider and I have been in it web since then. I have consumed a ton of YouTube and insta videos, watched long podcasts, have about 25 different long chats on chatGPT, and keep lurking in this community.

I keep obsessing over finding the perfect combination of primary card + secondary cards + UPI card for myself and wife.

Somehow I know that whatever I select is going to get devalued, and it'll all be in vain. And I'll have to start again.

How do you all manage this? Consistently keep updated with all banks' credit card terms and conditions? Keep changing cards every year? Or just go with what you have decided?

Hi,

I have been an Amazon pay ICICI card user and wife a HDFC millenia user. We have been in for always the cashbacks. So far we were only using the LTF cards, and I have IDFC first wealth LTF and Regalia classic LTF too (I don't use them a lot due to almost no transfer partners, and statement cash credit conversion is too low.)

But now, due to democratization of credit card knowledge, we are learning many things and are considering moving from cashback to points for flight and/or hotels.

The simple plan that I'm thinking is to take an HSBC travel one card on my wife's name and get an add-on for me. (Wife has better salaried profile and better chance of approval, my consultancy income is not consistent).

Put all of our spends on this single card and extract the complete value out of it.

Then later on transfer points to Accor for vacations, with revenue flight tickets.

Combined Spends -

- One non-luxury Intl trip + one domestic/intra-state short trip in a year for a family of three - Total around 5L/year

- Food delivery, quick grocery, and dining - 2L/ year

- Amazon, Myntra, Nykaa shopping (for kid, house, clothes, cosmetics, consumables, etc) - 2L/year

- Uber/cabs - 1L/year

- OTT, internet, telecom, and tech subscriptions - 60k/year

- Offline Shopping and misc spends - 3L/year

- Insurance and healthcare - 1L/year

- No utiliy bills - We take care of the above, others in joint family help with electricity, gas, etc.

Total - Around 14.6L/ year combined, which includes 4-5 lacs on overall travel.

Perspective for have just one card for both:

- Not sure if we both take multiple paid cards, we'll be ever extract the value of annual charges.

- If we take different cards, then categorising the spends and then using specific cards for specific transaction type could be tiresome for beginners like us, ultimately messing things up.

Risk:

- TravelOne getting devalued or removal of accor.

Please review this thought process, our spends, and suggest if this concentrated travelOne strategy will work well.

Thank you in advance.

TLDR: Wife and I planning to move from cashback to points. Would put all the possible family spends on primary and add-on card of HSBC TravelOne to earn as much as points, and convert it to Accor for vacations. Spends - Around 14.5L yearly with around 4-5 lac on travel. Please advise if any better strategy can be adopted.