30’s are typically a time for settling down after the 20’s where the young and fun loving couples have taken enough of risks and found what they are really passionate for. Many people are busy raising their families or climbing up the ladders of success in their careers. These are typically the make or break years in people’s lives even when it concerns their finances. Due to lack of knowledge and laxity people often land up making mistakes, the brunt of which is felt in their 50’s and not now. Continue reading “Common Mistakes People make in their 30’s”
Category: Behavioral Finance
Don’t let your kids dreams be just dreams
As your young ones would grow older, they’ll be asked many a times about what they want to be. At young age kids might say that they want to become what their dad, mom or their near or dear ones are. But it’s only when they grow up that they realize their dreams and what they actually want to be. For instance recently I was talking to one of my friend who was worried about his daughter’s higher education who aspires to be an interior designer. Like every parent he supported his daughter’s decision and wanted her daughter to go for the best option. Continue reading “Don’t let your kids dreams be just dreams”
Comfort or Financial Freedom – What’s your choice
If I were to ask someone why do you want to invest? The most obvious answer would be to earn returns. That’s true. But if I were to recommend to invest in equity funds to do so, then people would just say “It’s risky, I want to invest in something which gives me guaranteed returns.” The reason we look for guaranteed returns is because we want to avoid pain or discomfort. The question is what you are investing for Comfort or Financial freedom? Continue reading “Comfort or Financial Freedom – What’s your choice”
6 Things to know to have an Amazing Spending Plan
Last week we discussed on why and how spending money gives us happiness. However, the fact is that these spending habits can derail our finances and may even make us compromise on our future needs. You must be wondering “what’s the best way to control this spending urge to plan the finances well?” The answer is
“Have a Budget”
Continue reading “6 Things to know to have an Amazing Spending Plan”
Does Spending Money Makes you Happy
“Live as if it’s the last day of your life” – amazing thought it is!!!! But are we taking this philosophy too seriously? Few days back I happened to come across a few youngsters who wanted to plan their finances and believe me talking to them was real fun. I asked them a simple question ‘what does money mean to them’? The answer was simple it’s a medium to buy what we need and what we want. But the shocking fact was they knew how much were they spending on their needs but had no clue of the amount being spent on wants. It’s not just with these few young people, it’s with almost everyone today. Continue reading “Does Spending Money Makes you Happy”