Avoiding financial mistakes early in life is crucial for building a secure financial future. By steering clear of common pitfalls, young adults can establish a solid foundation for their financial well-being. This means creating a budget to manage expenses, living within one’s means, and prioritizing savings, including emergency funds and retirement planning. Additionally, it’s essential …
Insurance and retirement planning are key components, ensuring financial security in the long run. Understanding tax implications and continuous learning about financial matters contribute to a solid foundation. Personal finance empowers individuals to make informed choices, build wealth, and achieve a secure financial future. In the dynamic landscape of personal finance, navigating the complex terrain …
The recent workforce reductions at Paytm mark a significant development in the Indian fintech sector. Allegedly, the company has downsized its staff by over 1,000 individuals, affecting approximately 10 per cent of its workforce spanning departments such as operations, marketing, and lending. The primary rationale behind these layoffs is attributed to cost-cutting initiatives. Paytm, akin …
Q. I’m Alok, and I find it challenging to stick to a budget. How can I create a practical budget and effectively manage my expenses to save more and reach my financial goals? Alok, by understanding the importance of a budget and asking for help to stick to it, you have taken an important step …
Let us see how you can invest for your different financial goals. Prioritise your financial goals First, list your financial goals into short-term, medium-term, and long-term goals. You can estimate the amount you have to accumulate to reach these goals and the required timeline for each of the goals. After identifying these goals, the next …
Adopt budgeting Budgeting helps you to allocate your income towards expenses, savings, and investments. If you don’t follow budgeting, you can start with 50/30/20 budgeting from next year. It helps you allocate your income as follows: a) 50% towards needs that are essential for survival. Some of these include food, clothing, utility bill payments, medicines, …
How many of you feel like you never have enough money? Don’t worry, you are not alone. Most of us feel the same. Being strapped for cash is a common problem, but you can get over it. Thе pеrvasivе sеnsе of financial insufficiеncy oftеn stеms from a scarcity mind, a dееply ingrainеd bеliеf that rеsourcеs …
Despite Evelyn’s fortune in winning the lottery twice, the impact was not quite what one might anticipate. Two decades following her historic victory, Evelyn found herself residing in a trailer park, devoid of financial means. Looking at how she dwindled away her winnings in gambling and wrong investment choices, Evelyn reminisces, “Winning the lottery isn’t …