Your personal networth is a piece of information in your overall financial planning that you should be aware of at the drop of a hat. Yet you find investors who either don’t understand the concept or if they do, they usually don’t calculate it. You need to know how your net worth is calculated andRead More
Financial Planning
5 Tips to Spend Money Wisely
Spending money in an integral part of every individual. Spend your money wisely is a key input in your overall financial planning. However, the easy disposable income one generates today has blurred the difference between needs and wants. Spending money in an unplanned way could result in significant financial drain of savings for your future.Read More
Difference Between Needs and Wants
The first step in intelligent financial planning is to understand the difference between needs and wants. Your clarity on the subject will also lead you to do better budgeting. Today’s youth consumerism has unfortunately not only skewed the definition of needs and wants, it has also made the subject take a backseat. Let us revisitRead More
The Ultimate Listing of Personal Finance Learning Sites
My reader Ravi asked me “Can you please suggest me some good books for knowing the basics of investment and finance in India ? I want to be aware of must needed financial terms and plans.”. This compilation is an offshoot of the comment above. Why spend on books to learn personal finance when theRead More
Do you spend first, save later ?
My elder kid just celebrated her 6th birthday in September. I asked her what she wanted as a gift and pat came the reply, “Hanna Montana pens”, “Hanna Montana bag”, “Hanna Montana pencil box” and what not ! The total dent to my salary for celebrating her birthday was 40% more than what I hadRead More
Setting financial planning goals or goal based investing
One of the first most important steps in financial planning is to set financial goals for your future using goal based investing concepts. Financial goals are targets which you would like to achieve in the years ahead. Ask yourself this, “Why would you want to put away money for your future ?”. Most of theRead More