Make Your Money Work For You
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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 …
The average investor loses money on bank fixed deposits (FDs). A one-year fixed deposit with a nationalized bank in India, assuming 30% interest tax, has provided returns less than consumer inflation in ten of the previous thirteen years. The investor ended up a full percentage point behind inflation over the course of those 13 years. That …
When markets reach all-time highs or at all-time lows, the age-old debate about valuation reignites. However, before you consider changing your investment allocation based on whether the market looks to be overpriced or undervalued, you must first understand which valuation criteria are important. The price-earnings (PE) ratio is one such statistic that might help solve this …
According to a media report, over Rs 82,000 crore of unclaimed wealth is locked in misplaced and discontinued investments. This includes unclaimed deposits in inactive bank accounts, terminal proceeds from insurance policies, and retirement funds lying dormant in PF (Provident Fund) accounts. Some individuals are incredibly organized when it comes to their investments and financial …
The short answer to whether couples should merge finances is “It depends.” Every year, around 10 million marriages take place in India. While merging finances after marriage used to be the norm, many couples today are opting for a different strategy. Some prefer to maintain independent assets while still sharing financial obligations and expenses. According …
The majority of us strive for financial freedom during our working years. In actuality, having a solid strategy in place is the only way to fulfil your aim to become self-sustaining financially. Although the term “financial freedom” may have different meanings to different individuals, it is simply a condition that is attained when a person …
Achieving millionaire status is not simple. For the majority of people, it seems unattainable given the widening wealth disparity between the affluent and the poor. Yet, 80% of millionaires are first-generation “wealthy,” according to management theorist Thomas J. Stanley, who analysed more than 1,000 millionaires for his book “The Millionaire Next Door”. In other words, …
The book ‘The Millionaire Next Door’, based on actual interviews, demonstrates that many millionaires’ daily lives are far from the caricature of luxury automobiles, homes, and private aircraft. Even so, this book debunks the myth that achieving the status of millionaire is tough. According to the author, everyone may learn not only how to become …
Investing can seem overwhelming, especially for those just starting out. However, with the right approach and mindset, you can set a solid foundation for long-term financial success. In this guide, we’ll explore essential strategies for beginner investors, focusing on patience, diversification, and understanding the power of compound interest. Whether you’re looking to invest in stocks, …
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 …