Sanjay Matai, The Wealth Architects

The Most Authentic Guide on Personal Finance and Investments

Ebook: 101 Classic Tips on Money -- Read First. Pay Later (if you like it). Download Now

Pros and Cons to Know Before Taking Personal Loans

Personal finances should be managed in a way that a situation does not arise where one has to borrow money. But this is an ideal scenario. There are moments in life when funds are required – urgently. In such times, retail users look at various financing options. Personal loans are one such popular option available in the market.

It helps to know that personal loans are different from consumer loans. Personal loans are referred to as all-purpose loans or multi-purpose loans because they can be used for different purposes.

10 Best Loan Tips for You

On her international holiday, Pragya sulked silently for she couldn’t buy the lovely Louis Vuitton bag that she saw in the show window of a fancy store in France as it was costlier than what they could afford. Her husband, Alok said comfortingly, “All of us are poor against our wishes.” 

How true is that!

In a perfect world, we all would have enough money to fulfill all our desires. Alas, that isn’t a reality. And so to meet our demands, at some point or the other, we seek credit.

Here is a compilation of quick pointers before you take a loan:

Prepay, Invest or Spend? What’s The Best Choice For You.

You have received a lump sum amount (e.g. a gift, the annual bonus or a legacy).

Now, you are in two minds — should I reduce my debt or invest this money?

Sorry, there’s a third mind too — or should I spend it (on a foreign trip, the latest smartphone or a diamond set… well, there is no end to desires.)

This is the common dilemma faced by many people.

But, there is no single and simple solution to this. It all depends on your specific circumstances.

So which option is in your best interest?

Utterly Boring Story Of My Three Investment Mistakes

No human being is perfect — nor am I

Moreover, there is always a learning curve — we call it Experience.

Therefore, it is not surprising at all that, in last 25-odd years, I have made a fair share of mistakes while investing my capital.

In the process, I have lost Money. However, I have gained Wisdom.

All in all, it has been a great trade-off.

Financial Leverage To Earn Extra Rs.20 lakhs In 5 Years

You have a small corpus from your past savings. Plus, you intend to save — and invest — some amount every month from your income. Congrats! That's a great way create wealth.

But, what if you could make the same money earn something extra? Wouldn't that be still better?

Well, the good news is that it's definitely possible. And, it's not difficult too. Rather, it is pretty simple. The process, by which you can make additional income from your capital, is known as Financial Leverage.

Crucial Financial Steps Before You Turn 30

Guest Post : Contributed by Tina Roth of USA.

Leading a financially secured life is the last thing, which comes into the minds of many people under 30. 

But, the thrill of leading life in king-size, might work as a hindrance in the path of saving money for your future. Lack of knowledge about personal finance management, might lead you towards experiencing a topsy-turvy situation later.

So, here is a list of the fundamental money concepts, which the people under 30 should know.

20 Ways To Boost Retirement Fund (When You Haven’t Saved Enough)

As per back-of-the-envelope calculations, you may need around Rs.3.35 crores as retirement savings at the bare minimum (with no money left towards children’s legacy).

This assumes you are 45 and will probably retire in 10 years time at age 55 in 2028; post-retirement life of 30 years till the age of 85; Rs.50,000 (at current prices) as average monthly living expenses; 6.5% p.a. inflation; and around 8% p.a. post-tax portfolio returns. [Beware: The number may change dramatically, if any of these assumptions change.]

Many are unlikely to achieve this target.

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Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

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