The Most Authentic Guide on Personal Finance and Investments


(Funny) Words of Wisdom : "My wallet is like an onion, opening it makes me cry." ~ Anonymous

5 Ways to do a Better Budget than FM

Few days back, FM presented the budget. It was a disappointment. Given that the Indian Economy has stalled, every one expected a growth-oriented budget. Alas, all these hopes were belied.

We would now have to deal with a struggling economy and high inflation for some more time.

However, an eternal optimist, I believe that all is not lost. There is a lot we can do to kick-start OUR budgets. As someone said 'When the going gets tough, the toughs get going.'

1. Think Smart
There is plus point to struggling economy. Companies in distress give huge freebies and discounts. So be a smart shopper. Look around for good deals. Negotiate. Negotiate. And Negotiate.


2. Think Freedom
Debt may sound good and easy. It isn't always! So be careful. Think not how 'much' you can borrow. Think how you 'little' you will borrow. Debt is captivity. Think freedom.

3. Think Long-Term
PPF, Tax-free bonds, property, equity are all great investments...provided you take a long-term view. So drop that desire to become a crorepati 'tomorrow'. Think long-term and you will surely become a crorepati by 2020.

4. Think Risk
No risk. No gain. But beware. Don't be a gambler. The risk a gambler takes is purely subject to LUCK. But the risk a smart investor takes is based on precautions. Crash your car at 30km/hr and you will die. Crash a F1 car and you won't even get a scratch. Difference - precautions.

5. Think Tax
Just as you shouldn't be risk averse, you also shouldn't be tax averse. Know tax and you can save lots of undue liabilities. This will add straight to your post-tax returns.

All these measures will act as a booster to your budget and give it that much needed growth impetus.


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