“A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life” ~ Suze Orman
When it comes to insurance, ‘the sooner the better’ mantra acquires great relevance. So, without wasting the precious time, let’s come to the point. And, mind you, it’s not even about ‘should you insure or not? The question ought to be what are the insurance policies you need? Once you ask yourself the question, a foundry of questions will spring forth. Like what should be the insurance amount, the tenure, and so on. There’s a spectrum of policies that you can pick from today but the most important one is still the Life Insurance.
You still remember the day when you held your bundle of joy in your hands. You were in tears, of joy. Today, your child is your life. You come back home after a tiring day at work. But your little one’s smile cheers you up instantly. What joy it is to have a child around! Of course, you have plans for him/her. But are they concrete? Have you charted the plans considering the uncertainties tomorrows could hold? Is your answer a confident yes? Or a casual shrug of the shoulders is all you have for one? Whatever the case may be, here are a few points that would help you get the bigger picture. Continue reading
You have just started earning and are super excited about this monthly amount that is entirely yours to spend. We all have a list of things we want to do with ‘our own money’. Like, buy that expensive gadget, shop for our parents, siblings, buy that expensive gift for the boy/girlfriend and treat our friends. With your first paycheck also comes the first financial advice from your parents – ‘budget your income’ and ‘save for the adverse times’. Let us see below how making a budget and saving for the rainy day along with some other tips might help you live a financially secure and fulfilling life even if you feel your earnings are meager.
Our mother is our first and best teacher, we all know! They seem to know best about everything! Earning or not, we all think our mother is the best in family at financial management. Even though our father might have given us our first pocket money, it is our mother who taught us how to save and spend it wisely.
As a tribute to all the mothers of the world (did you forget it is Mother’s Day on 13th May?), we at SLA are celebrating their financial tutelage by listing out the best lessons from the pool of maternal money wisdom and sensibility. Continue reading
When We Start Earning
When we just start earning, it is only fair that we think of spending it all on ourselves, families and friends. Savings, investments, and planning retirement are the last thing on our mind. On being coaxed by elders, one might start a Savings Account and nothing more. However, at a later stage, when we try and build trust in other methods of savings and investments either because our friends/ colleagues have invested in it or the markets are performing well, we realize how much we have lost in not starting early. Continue reading