Monitoring Expenses Can Ensure an Enjoyable Future

P9_Image1

In the equation of wealth creation one of the most important variables is expenses. It’s unavoidable but it needs to be controlled and optimised. Have you ever tried to cut down on your expenses any time? If you have tried, then you would have realised that as an individual it might be easy, but when it comes to a family it’s pretty tricky. Well, we all have a life to live and enjoy, and that’s why I’d like to ‘optimize’ rather than ‘minimise’ expenses. But at some point we all wish it was as easy as turning off a switch. Continue reading “Monitoring Expenses Can Ensure an Enjoyable Future”

Everyone Around You is Running a Business, So Should You

Look around you, anyone who you interact with financially is running a very successful business. Your hard earned money is being put to good use by others, but are you gaining anything out if it? Well, most of the time the answer would be ‘I don’t know’ or realistically ‘NO’. So who are these business folks? Let’s start with the Government, your employer, your trusted bank, your financial advisor, the car dealer and …., I think by now you would get an idea of all the rest. Let’s analyze a few and see how you should run your business. Continue reading “Everyone Around You is Running a Business, So Should You”

Building Wealth – 5 Essentials to Get Started

Building Wealth - 5 actions before getting started

Building long term wealth through investing requires conscious decision making. Getting started is always difficult, staying invested is even more difficult. The best time to start investing is at an early age, ideally when you start earning. At this stage you can take higher risks and would have few financial distractions. Financial Ignorance can cost you both money and time. Mentioned below are five essential actionable thoughts that I practice now and would strongly recommend if your investing from a clean slate. Continue reading “Building Wealth – 5 Essentials to Get Started”

Financial Target 1 – 2016 Q1 Update

It’s time to present the first update of my Financial Target 1 which is to build a corpus of INR 1,00,00,000 in my investment account in 4 years time. The intent is to publish the progress or even the lack of it on this blog every quarter. The corpus would then be used to generate steady passive incomes and hopefully it would be the stepping stone to financial independence or as I have coined it a ‘Self Financed Life’. Continue reading “Financial Target 1 – 2016 Q1 Update”

Income Tracking – Where did it all go?

Where did all my income go? This a question that most folks would ask themselves if they have slogged in a corporate job for a decade or so. It usually arises at a point when they are discontent with the regular grind or probably at the end of a bad day or week. You should also ask this question if you are focusing at financial indepedence. Some people track their income and expenses on daily basis, some do it monthly and some don’t. I fall into the last class who hasn’t bothered to explicitly track income and expenses, but have never lived beyond my limits. No matter what the frequency, it’s never too late to perform such a study and learn from the results. Continue reading “Income Tracking – Where did it all go?”