the difference between rich and middle class thinking
the rich think about investing and saving they have brokerage accounts ( for mutual funds, index funds, shares) they have a business , which they own entirely or have a stake save
the cost of opportunity
whenever you feel like spending on something , just follow these steps wait for 30 days , chances are you would have forgotten about it see how many hours you have to work for it .
good debt versus bad debt
bad debt examples and explaination credit card debt car loan personal loan if you borrow money for anything that goes DOWN in value , it is a bad debt . cars never appreciate in va
emergency funds – how much should they be ?
in times of an emergency , such as a job loss or a furlough , which is quite common in the days of covid 19 , this is the one area you should concentrate on. why do you need emerge
keep all your important documents in one place
have a place in your cupboard / almirah / wardrobe for an important file list and contact numbers of your parents , siblings , important people to reach in an emergency list all yo
your credit score – a magical number that decides what you can or cannot buy and what interest rate you pay
while the topic is too detailed to cover in a blog , there are three bureaus that decide what goes into your credit report – transunion , equifax and experian. please make su
all your finances at the click of a button .. yes .. it is true today
fin-tech – financial technology , has come a long way , you can now use apps on your phone or web browser on your computer to manage your finances. keep track of your credit
don’t let your money sit idle , make it work
always give your money work to do – could be anything : emergency fund , in a high savings instrument earning interest , stock market , in a business , into an investment , p
Term Life Insurance or the one that returns money back
The purpose of insurance is to take care of the family in case of your untimely death. Term life insurance is the cheaper option than the other ones – which return some money
The rule of 72 – how fast can your money double
The rule of 72 states that your money will double in 72 / ( the interest rate per year ). So , if your investment is returning 6 percent per year , your money will double in 72 / 6