Financial genius are not the ones who knows everything about finance. Financial genius’s know the ‘right things’ People who have become very successful in money making knew the right things about finance very early in life. Even common men can grow and become financial genius. Handling money is in genes of humans. Riding a bicycle…
Where to park money idling in savings account? Savings accounts offer to low interest. Better is to invest it elsewhere. Where do you keep your savings? Majority do it in savings account. What are the alternatives available? Recently I came across a friend who works as a priority manager for a Bank. He handles variety…
It sometimes puzzles me that why do credit cards offer rewards. Customers like you and me can pick and choose credit cards based on suitable rewards they offer. Once we have a credit card that offers rewards, we can go around swapping them in our purchases. Suggested Reading: Utility of credit utilization ratio explained with…
If we have a credit card & we do not know how to use credit card it’s a problem. It is like not-knowing how to use a knife. To cook food use of knife is essential. But knife can also injure a person if not used properly. Similarly, improper usage of credit card can cause…
How many live life completely dependent on their monthly paycheck? Not surprisingly, 95% of all salaried people live a paycheck to paycheck life. Why it is so? Because salary (paycheck) is a very assured form of income. But on downside, it makes people complacent about their financial security. Salary income is assured only till one’s doing a job. If one…
It is amazing to note that how rich get richer. Every passing day, they seem to get even more rich. How does this happen? Standard of living of millionaires is what attracts us the most, right? Millionaires have lots of excess money. But the way they lead their lives attracts us the most. It will…
There are several alternatives available for investing money in India. But the problem is that, investment after retirement must be done in a specific way. Hence, the composition of ‘investment portfolio’ of a retired person is different from other people. What is the difference? A retired person plans to include those assets in portfolio which…
Why poor people stay poor? This is because poor do not know how manage money to become richer. Poor thinks that, only making ‘more’ money makes one rich. But this is not correct. One must attain financial independence first. Only after achievement of financial independence one can start getting “richer”. The difficult part is, the achievement of…
It is not an overstatement to say that rich people communicate effectively. So, how rich people communicate? One continues to be poor because of his/her habits. Yes, if we can only improve few habits we can become rich. Communication is one area where rich people score very high compared to poor. Research shows that most…
According to Robert Kiyosaki, not anyone can generate investment income. One must first build mindset of an investor to start generating investment income Investment income generation starts with saving money. Saving money is as difficult as investing money. It takes maturity and perseverance to accumulate savings. People are psychologically drawn in the habit of needless spending….
[List of Dividend Paying Stocks] An example of dividend income: Mr. Mukesh Ambani and his family (HUF) hold about 5.6 crore shares of Reliance Industries (0.85%). As declared in Mar’21 annual report, RIL paid a dividend of Rs.7/share. At this rate, the family would have earned a whopping Rs.39.2 Crore only in dividends of RIL….
Buying your first home? Consider this as a great investment. But which is better, first self-occupied home or home put on rent? Lots of people face this dilemma while planning their first property. Few years back I had no home of my own. I used to live on a rented house. Then I bought my first…
