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
Continue reading “6 Things to know to have an Amazing Spending Plan”
“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”
“What’s the best” is an amazing question that people often ask whether ordering food at the restaurant or buying clothes or buying a car or mobile phone. But the fact is a thing which is best for us may not be the best for someone else or vice versa. For instance, you may not like a particular cuisine which is best at a restaurant. Moreover the definition of best changes from day to day, month to month or year to year.
One of the most common question that I keep facing is “Which is the Best Fund these days”. But even after spending more than a decade in this financial service industry, it’s impossible for me to answer this question. Continue reading “The Best Scheme to Invest In”
“Oh the 80C limit has increased. I’ll have to increase my investments to save tax”!!! This is the most talked about thing on office desks and dinner tables these days. Tax saving is something that most of us are very serious and concerned about and hence we do every possible thing to reduce tax liabilities to minimal. But what is it that you are buying for??? Are you buying it just to save tax or save tax and fulfill financial goals such as retirement, kids planning etc.? The answer is “we want to save tax and save for our future as well”. But the fact is most of us just end up investing recklessly in a hurry to save tax and hence the financial goal takes a backseat. This is the story of first three months of every year where there are people who are selling and people who are buying. Continue reading “Tax Saving and Financial Goal Connect”
I have often reiterated that money management is no rocket science and 99% common sense. But is it??? To most of us it isn’t and we are often worried about what needs to be done next to make sure we are managing our money the right way. The concern stems from the reason that we were never taught money management lessons and even if we were they were too theoretical and boring. Recently I encountered my young daughter playing “Monopoly” which reminded me of my childhood days. This board game taught me the most important lesson of my life – The Money Management Lesson. And believe me it’s still as insightful as it was then. Let’s see what it teaches!!!! Continue reading “Managing Money is a Kids Play”
