Make Your Money Work For You
Browsing Category
Let us see the incredible power of compounding in this blogpost. If I were to offer you a choice between Rs. 1 crore today or a single paisa that doubles every day for the next 31 days, which one would you choose? At first glance, Rs. 1 crore seems like an obvious and attractive choice. …
Although money can’t buy everything, it may undoubtedly have a significant influence on your personal well-being. Making a financial plan, saving enough and engaging in wealth-generation stand out as strategies for reducing financial stress and enhancing personal happiness. Yet, a recent poll found that the majority of Indians do not save enough. Most people save …
Let’s start by defining what “frugality” is. Frugality is the attribute of being modest, thrifty, cautious, or economical in how one uses finite resources, such as food, time, and money, and how one avoids wasting anything by going overboard. It involves the prudent management of financial resources in particular. Frugality is characterised in an economic sense …
Tracking your spending is a simple yet powerful habit that can transform your financial well-being. It’s a practice embraced by many of the wealthiest individuals, who have made monitoring every dollar a cornerstone of their financial strategy. As highlighted in The Millionaire Next Door, many millionaires are meticulous budgeters, and while you might not be …
In today’s fast-paced world, young professionals and students often struggle to balance their finances between enjoying life today and securing financial stability for tomorrow. With endless opportunities to spend on experiences, gadgets, dining, and travel, the temptation to prioritize the present is ever-present. Yet, the secret to a worry-free future lies in balancing that immediate …
Everyone agrees that “it is not how much money you make, but how much money you save” that is important. Changing your spending patterns and decreasing costs wherever feasible makes it much simpler to save money each month. You may believe that minor expenditures do not add up, but it is astounding how much you …
The longer we age, the more knowledge we get in terms of personal finance and money management. Personal finance may be intimidating at times. It appears to be a pretty convoluted riddle at times. While there are no financial hacks that will suddenly add money to your bank account, there are several personal finance hacks …
We’ve all had unanticipated financial problems, such as an unexpected medical cost, a malfunctioning appliance, a loss of income, or even a damaged car. These unforeseen costs, whether large or small, can feel as though they have come at the worst possible time. Setting up a separate savings or emergency fund is an important method …
When there is a significant increase in inflation, the Central Bank raises the repo rates, causing interest rates to rise. These developments can have a knock-on impact on the economy, culminating in a financial meltdown in some cases. Interest rates also have an impact on investment choices. As an investor, you should not be concerned …
Introduction We humans are naturally drawn to prizes and discounts, and it is quite hard to pass up a good reward or a great price. Everyone enjoys a discount or payback when making a purchase, no matter where they reside or what social class they belong to. We may have come upon the concept of …