The Most Authentic Guide on Personal Finance and Investments


Words of Wisdom : "A successful man is one who can lay a firm foundation with the bricks others have thrown at him." ~ David Brinkley

10 Golden Money Rules to Become Crorepati (Part 2 of 2)

Further to 10 Golden Money Rules to Become Crorepati (Part 1 of 2)...

6.    Always pay your credit card bills before the due date
This will not only save you lots of avoidable ans exorbitant interest charges, but also prevent splurging. It will ensure that you buy only what you really need.

7.    Avoid Leveraging
A millionaire with debt is a fake millionaire. I am sure you wouldn't want to be one.

8.    Avoid exotic products and derivatives
They have been rightly termed as Weapons of Mass Financial Destruction. Look what happened even to the mighty USA. 


9.    Seek guidance from professional financial advisors
Right directions will save you a lot in terms of time, efforts and money.

10.    Beware of scams and scheming agents
If anything sounds too good to be true, it usually isn't true. Don't trust anyone. Triple-check every deal offered to you. Internet is a great tool to get right information.
 

This list should, however, be your starting point, not end-point. Educate yourself. Books, internet, seminars . . . you have so many avenues to choose from. After all it is your hard-earned money. So please do take good care of it.

In fact, I would go to the extent of saying that if you just follow one rule - KEEP THINGS SIMPLE - you will not go wrong with your financial decisions. (The financial lessons will be easy, the road-map would be simple, you will not need any experts, you will avoid scams and exotic products, you will keep away from debt, you will not have any problems in paying your bills on time, etc.)


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