The first step in intelligent financial planning is to understand the difference between needs and wants. Your clarity on the subject will also lead you to do better budgeting. Today’s youth consumerism has unfortunately not only skewed the definition of needs and wants, it has also made the subject take a backseat. Let us revisitRead More
Financial Planning
The Ultimate Listing of Personal Finance Learning Sites
My reader Ravi asked me “Can you please suggest me some good books for knowing the basics of investment and finance in India ? I want to be aware of must needed financial terms and plans.”. This compilation is an offshoot of the comment above. Why spend on books to learn personal finance when theRead More
Do you spend first, save later ?
My elder kid just celebrated her 6th birthday in September. I asked her what she wanted as a gift and pat came the reply, “Hanna Montana pens”, “Hanna Montana bag”, “Hanna Montana pencil box” and what not ! The total dent to my salary for celebrating her birthday was 40% more than what I hadRead More
Setting financial planning goals or goal based investing
One of the first most important steps in financial planning is to set financial goals for your future using goal based investing concepts. Financial goals are targets which you would like to achieve in the years ahead. Ask yourself this, “Why would you want to put away money for your future ?”. Most of theRead More
The importance of hiring a financial planner
In an earlier article on what is financial planning, I talked about the basics of financial planning. The understanding of the importance of a financial planner has not yet caught up with the Indian investors in general. We have not yet warmed up to the idea of advisory services – which is loosely defined asRead More
4 reasons why your spouse must know about the household finances
A majority of the India households have the finances driven by the male counter part. That does not mean they are driven smartly. Women can manage finances equally well, its just that its often a boring activity and women would prefer something better going on at the soap operas. And in houses where the womenRead More