Mutual Funds offer many different modes of investment to investors for their convenience. Unfortunately, sometimes these investment modes create confusion among investors as they face the dilemma of making the right choice. One such common and the frequently asked question is whether to invest via SIP or lumpsum? Read More
To manage your money properly, you must tread carefully around the minefield of prevalent investment myths. In this series, I try to debunk all such myths and misconceptions so that you can avoid jeopardizing your finances. In this article, I will talk about the common rules of thumb of personal finance and the dangers of following them blindly. Read More
Having a proper budget in place and sticking to it is one of the initial and critical steps of your journey to achieving financial well being. Yet, people end up wrecking their well-planned budget regularly and as a result, end up thinking that budgeting is not their cup of tea.
Well, making a budget work is not all that hard. Chances are, you are falling prey to a few common budgeting mistakes. But don’t worry, I have highlighted all such common blunders and provided solutions for avoiding them: Read More
The key to successful financial management is developing a few good money habits like savings before spending, paying bills on time, investing for the long term so that compounding can work its magic and so on. But in today’s hectic life where everyone is busy working and handling multiple chores, unfortunately, money management takes a back seat and one is not able to keep track of all the bills, investments, etc.
The commonly suggested solution for such scenarios is the automation of your finances. This means setting payments of your bills and investments on autopilot so that you won’t have to remember all your due dates and can avoid timing the market. You could do it with just a few clicks. Fintech or Financial Technology is the new “in” thing and new apps are springing up left, right and center. But, here’s the thing: If your income is irregular or if automation for you means “set it and forget it”, then this solution can cause more harm than good. Read More
Everyone is busy finding ways of making more money, saving more money, growing their money. But how many of you have ever taken some time to figure out why you want to make more money? Or what are you actually saving for? In other words, are you using money as a tool or means to achieve some pre-defined financial goals? Or are you treating money as an end in itself and just working to achieve more of it?
Answer to this simple question will determine if money will turn out to be your friend and help you achieve happiness, or if the same money will make you feel stressed and worried all the time and leave you unhappy. Read More