A Personal finance blog for saving money and earning more and thus having a better life
College life comes with hard lessons on personal finance, especially for the students who do not plan their finances properly. They often find themselves in debt, broke and unable to cope with college life.
Thus, you need a plan to succeed in college. As a student, there are few tips you can adapt to line up your finances and stay afloat financially whilst in college.
Having good financial habit is a must for everyone but most usually don’t have these or have not spent the time to take a good look at their finances. Because you are here reading this I can assume that you have decided to take your financial life a little more seriously.
Below are 10 great financial habits you must imbibe to get you to achieve the financial freedom you have always dreamed of.
What is emergency fund? Why is such a fund needed? How can I save money for emergency? And, most important question, Do I need an emergency fund?
Let us try to find answers to all these questions.
Keeping your personal finance in order is vital to avoid debt and afford certain things like a car or, your home at a lower interest rate. Getting your money in order helps avoid the stress and disarray caused by mounting debt.
The good news is, a financial situation can be improved, mainly through self-discipline. Following are 4 major tips for financial quick fixes that you can try when going gets tough. Not in particular order, all of these need to be taken care off at the same time.
Are you moving to the US for work? I moved here in 2005 from India on a work visa. In this post, I’ll write about things to do in initial days.
How financial system in the US looks like and what you should do protect your family and property, invest your money and most importantly, how can you save money in this expensive country?
I was ever willing to write this post , I spent hours researching for it. This topic is what I was searching forever since I landed in this country.
Just like any other goal, financial success requires the practice of good financial habits. If you want to finally eliminate debt, increase your personal savings, and achieve financial security for yourself and your family, you need to take a good look at your current spending. Assess which ones are truly necessary, and start making changes to the way you budget and spend your money.
To me, being financially stable and having a lot of money are not synonymous. You may have a large income but, it doesn’t always mean you’re financially stable. Financial stability ensures that you are capable enough to hold on to the wealth, even during difficult times. So, irrespective of your financial situation, you should strive to become financially stable and develop the habits of a financially stable person.
When I was younger I was in the Boy Scouts. Like many, I started in grade school with the Cub Scouts and moved up the ranks. Ultimately, I fell short of the Eagle rank by one level, but the lessons learned over my scouting career have stuck with me through the years. Looking back on it now through the eyes of someone who must manage bills, work and family, I think the scouts helped me build a solid framework for future money management skills.
I’d like to take you on a journey through my five favorite parts of the Boy Scout Law and demonstrate how each has had an impact on me when it comes to managing my finances. Hopefully, by the end of this post you too will be prepared to go out and be a good scout with your money.
When I first started earning money it was 2000, I was in India. I straightaway jumped for stocks and within a year my invested amount lost half of its value. Poor stock picking coupled with the burst of the dot-com bubble taught me what not to do with money when you are a beginner. Since then I committed many mistakes, at the same time, I did things that worked very well for me.
A few of the mutual funds I bought between 2003 and 2005 got almost tripled its value before I sold them off. I had mentored people towards their first investing since then, A little disclaimer, I am not a financial expert and don’t take my advice for granted, consult with someone you trust before taking any of the steps I mentioned below. The following ideas are lessons I learned with my life and lives of the people (at work and within the family) who came to me for advice.
When we were young we had the capacity to dream – and we had big dreams. I remember that I wanted to be the aeronautical engineer and a neurosurgeon at the same time, and I actually wanted to become a bird at a time? However, as we grow older, the realities of life set in and we have to specialize and pick a job out of the many jobs that interest us. People build careers in different fields such as education, business, technology, healthcare, sports, and arts among other things.
Irrespective of the career path you chose, you’d still need to make a number of financial decisions at different stages in your life; folks who do not have a background in finance are often at a disadvantage in the crossroad of making financial decisions.
Stoicism is a school of Greek philosophy founded in Athens whose followers practice a way of life that focuses not on what a person says but on how they act. To live a good life, one has to understand the rules of human behavior since Stoic lessons teach that everything happening around you is rooted in your own mind.
What does this have to do with financial success?
Let’s take a look at five Stoic principles that should form the bedrock of your own financial success.
