Summary Points: I’ll explain how rich people focus on cash flow and net profit to grow their business, like my example of an ice-cream store. Check this mind-map You’ll see an example where how profits was split as 25% for business growth, 25% for family, and 50% for investing. I’ll share how they use direct…
Imagine you have two jars: one is labelled as Income, and the other is called Wealth. The Income jar gets fill-up regularly – daily, monthly, or yearly. This is the money we earn from job, business, etc. It keeps coming in, but it also gets spent. Now, the Wealth jar is different. It’s like our…
Systematic Investment Plan (SIP), stands as a cornerstone strategy for wealth creation and financial stability. For nearly two decades, one steadfast investor embarked on a remarkable journey through the landscape of SIPs, refining strategies, embracing volatility, and reaping the rewards of consistent, disciplined investment. Let’s learn from the two decades of SIP investments. The purpose…
Unlock the secrets of retirement planning in India with this comprehensive calculator. Discover how age, income, and investments shape our financial future. I’ll suggest you, explore all the variables of the calculator. There are 14 number variables that shape the final result. Change a few tiny bits in each of the variables and observe how…
In a world marked by financial uncertainties and economic complexities, the pursuit of financial independence has emerged as a beacon of hope. It offers the promise of a life unburdened by monetary constraints. Financial independence is a concept gaining remarkable traction in recent times. It holds the potential to transform lives and empower individuals to…
Retirement planning is important. Why? Because this is what is going to give us financial independence after we’ve retired from our jobs/work. The planning will ensure the availability of the required funds when it’s time to retire. In India, the majority of service-class retired people depend on annuities to take care of their cash flow…
When you’ll Google the term “become debt free“, the search result will also display a query: “is it good to be debt free?“ This dichotomy related to debt has remained since ages. Why? For Banks, NBFC’s, government, and employers – loan (debt) strapped, EMI paying people are an asset. Hence they publicise debt as a…
One of the most underrated activity is ‘expense management’. We tend to focus more on income generation, and less on ‘managing expenses’. Why? [Read: About an Excel based tool which can budget & track expenses] The reason is perhaps simple. We tend to give more importance to things which are harder to get. Earning Money:…
It is essential to build ones financial literacy. Why? Because in todays world almost every human activity is in some ways dependent on money. We need money to get access to even bare necessities of life like food, clothing, and shelter. Our spending needs, does not stop with necessities only. We also need money for…
How to create wealth from nothing? The stress is on the word “nothing”. Why? Because if one knows how to create wealth from “nothing”, doing the same with “help of something” will be easier, right? But there is a point about wealth creation that needs understanding at the outset. What is it? Wealth creation is…
Mostly it is the business men who become richer than others. But how can a salaried person become rich? Smart business men tend to become rich more frequently than salaried people. Yes, the keyword to become rich is “smart”. One need to handle ones paycheck (income) smartly. Smart and rich business men tend to handle their…
SBI provides home loan at most attractive interest rates. Yuvraj wanted his home long transfer to SBI. He did some study and here are his findings. Yuvraj carries home loan of Axis Bank. He was paying interest at rate of 10.75% on his home Loan. He saw that State Bank of India (SBI) is offering…
