Make Your Money Work For You
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Everyone has this million dollar question in them – “Which is the next biggest multi-bagger stock”? Or “Which is that one stock in which I can invest in now and forget it, so that I could see it later after some 30 to 35 years and then pass-on the wealth created from that stock to …
Money habits are practices that support effective money management. The difference between financial success and failure can be determined by developing sound financial habits. You may increase your chances of becoming wealthy by adopting these five money habits. 1. Ownership of a Business: Salaried employees are rarely found in Forbes’ annual list of the world’s …
Imagine you’re planning a trip to a foreign museum. Not only an entry ticket to the museum is enough, you would also prefer a Guide, who has good knowledge and experience in explaining the different spots in a museum and the history behind the showcased products in a museum. In the same way, choosing …
The difficulty in investment choices emerges when we use a quick and biased approach to stock selection and investing, when a patient, logical, and objective method is required. Quick, impulsive, and prejudiced judgments are the evil of investing, which the current generation of novice investors repeatedly demonstrate. Many explicable and unexplainable elements impact our investment decision-making, including …
The concept of diminishing marginal utility states that when a product or service is used up several times, the enjoyment derived from its use declines. This suggests that the product or service loses value as more people utilize it. This is why people are prepared to pay the highest price for the first unit of …
In the rapidly changing field of finance, where emotions sometimes outweigh rationality, base rate investment provides a fresh viewpoint. This method, based on the notion of the ‘base rate fallacy’, enables investors to make judgments based on broad knowledge, minimizing the potential risks of responding to particular short-term influencing information. Let us first try to …
Many people neglect or ignore a few basic and frequent factors of their financial well-being. As we all know, major investment classes include real estate, gold, and financial instruments such as stocks and bonds. If you buy a house to live in, this is considered consumption. In a similar way buying gold or jewellery to …
It is critical to make sure that the wealth you acquire is available to the beneficiary when the funds are needed to achieve an important life goal. For example, parents who establish an education fund for their kid’s college education must ensure that the money accumulated in the fund is conveniently available when the child starts …
The book ‘The Psychology of Money’ explores how money functions in the actual world. Economists’ concepts are rarely the driving force behind financial actions. Indeed, a variety of reasons influence our financial decisions, ranging from personal background to confidence to greed. The outcomes are usually startling and intriguing. The author Morgan Housel is a Collaborative …