Hello and welcome to my Blog.
I will try to share some insights into managing and growing your money.
Disclaimer : I am NOT a financial consultant or a wizard .. whatever I write here is a result of my own experiences and insight. Being an engineer and first generation entrepreneur, and a guy who has worked on mergers and acquisitions of companies first hand, I owe it to all of you to educate : How to go about the financial growth.. yeah : How to TRIPLE your money 🙂 .
Here goes my List :
- Always pay all credit cards in FULL.
- DO NOT withdraw cash from Credit cards.
- Pay your Bills BEFORE TIME.
- Open a Demat Account and Invest in Shares (yes Equity Shares .. NOT ELSS).
- Spread your investments over several Assets types : Fixed Deposit, PPF, Equity shares, Mutual Funds, Gold , Silver, Land, Home/Apartment, Business office : in that order.
- Remember to SAVE and Invest Every Month. Don’t keep your money idling in savings account.
- If you can, Pay back All LOANS early.
- Buy and Keep Sufficient Insurance (DON’T Overdo it : Insurance is NOT investment).
- Learn the Legalese, Learn to calculate ROI and % of things you do. e.g. Paying Rs 100 on a Bill of Rs 500 as “delayed payment charges” is 20% Penalty !
- Learn to compare, use Excel sheets, before you decide on any Financial matters.
- Buy your tickets Rail / Air / others well in advance.
- Search and use Coupons on all your online shopping !
- DO NOT buy things and stuff you don’t need, even if it is at “75%” discount.
Be the first to comment on "Golden Rules to Manage Your Money"