In financial planning there are several thumb rules that serves as broad guidelines for formulating strategies. Even though these canons of financial planning are useful, they need to be updated and aligned with the changing financial landscapes.
For many people talking about money is a taboo. The basic reason for the same is ignorance about money management. Most have negative connotation about money. Hence more often we hear conversations such as “rich is evil ” .
Here are characteristics of our mind that will push us into making inappropriate decisions about our own finances. How to overcome such circumstances?
Return and safety are two important parameter of investment choice. When it comes to investing in debt instruments, they are believed to be safe investment vehicles as compared to equity investment. Now, the question is whether the debt instruments may be considered as safe investments?
Professional Financial planning requires customised action plans based on assessment of financial status, risk profile, goals and periodic evaluation of plans. However, if you want Do It Yourself (DIY), you may adopt following 12 thumb rules to simplify the financial plans. But remember, thumb rules only provide a general direction and may not necessarily provide you the exact solution.
Employed and self-employed/freelancers both comes in the left side of cash flow quadrant as per Robert Kiyosaki. Both earn active … More
Depending upon the different money personalities there are different conflicting money habits of individuals.
Millennials or GenY, the generation born between year 1980 and 2000, are fast entering their earning and spending age, growing … More
Starting from young age, most individuals are instructed to get an education and then a job. After landing a solid job, … More