Important Financial Tips

Some very important financial tips that everyone should know ….
1. Avoid buying property on loans as it eats most of your earnings unless you have a clear plan for its repayment. It’s important to monitor cash flow. Though, the house will be your asset, your liability will be much more.
2. Start a SIP at a very young age. Try to save atleast 15–25 % of your earnings.
3. Avoid buying a car unless you use it everyday.

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4. Do not let this sentence scare you. “Mutual fund investment are subject to market risk. Please read the offer documents carefully before investing”. Most people avoid investing in mutual funds just because of this one warning. Yes, there is a market risk, but look at the history and growth of mutual funds.
5. Try having a simple wedding.
6. Atleast 20% of your wealth should be liquid so you can utilize it when necessary.
7. Considering inflation, you are actually losing money if it is in savings bank account. Do not keep huge money in savings bank account.
8. If you invest in stocks, pay due attention.
9. If you invest in stocks have a separate account for delivery investment and Intraday investment. It is easy to monitor this way and also makes tax calculation easy
10. Do not have a belief that property and car make you rich. Its what you save and invest, that is important.
11. Never invest in insurance for returns. Insurance is not an investment option. It is a risk management tool.
12. Never use credit cards for lavish spending. Use credit cards intelligently and for needs not for wants.
13. Cancel all credit cards before you die. Or inform family about all your accounts, credit cards, loans and saving now itself.  Even a small residue will cost your family much.
14. Invest on yourself and then on other investments.
15. Always try to balance your earnings with your savings first, then on  spending and loans. Never take unnecessary loans. Always have reserve and utilise them and unless no other go never take loan.
16. Always have a plan for future events on your career, life, spending and finance.
17. Always have a reserve on your savings for contingency and urgent situations.
18. Your personal life and health are the most important investment. Do have a regular health check and do healthy workout every day. Stay healthy and live happily.

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How to manage your worries? 2 – step guide to improve your problem solving skills

Learn How to improve your problem solving skills. Learn to be more happy, productive, successful and independent. Learn how you can help others solve their problems.

Problem solving skills are among the most demanded skills when one appears for interviews for jobs. You certainly understand that if you have these skills, you can beat of a large section of competition. 

In our personal life, we come accross a lot of problems on daily basis. Sometimes it feels that the problems aren’t going to end till your last breath. That feels most of us with worry and agony. We spend a large amount of our time and energy in getting our those problems. Gladly, there are methods to solve these petty issues. Lets take a look at 2 step problem solving guide recommend by Dale Carnegie in his book “stop worrying and start living”.
1. Ask yourself- “what are you worried about ?”

You may find this step quite funny. Especially because, you were worried about the problem. However, try to write down this problem in the form of a statement. Try something like this ‘I am worried that I will not be able to create my Android app on time.’

Now, you might have different worries troubling you at the same time. Author suggests, you can write all of them on paper in the form of statements. 

When you will be through with this step you will find out that they are not so frenetic now. You will start thinking about the problem as it is. 
2. Ask yourself – “What can be done about it?”

Write down all the solutions that come to your mind. For example in my case-

A) I can put extra efforts everyday for one week and that can complete my project on time.

B) I can ask my colleague to collaborate 

C) I can take help from online app buildings  sites.

D) I can ask for one week extension.
When you make a list, you start finding that you can solve it. Your mindset shifts from thinking about problems to problem solving. Believe me, mindset is the key to problem solving.

Do let me known your thoughts on it.

INTRODUCATION

Why do you need this book? How this book can help you? How to use this book?

Let me tell you how this book came into existence. This book is a result of three years of extensive observations. The happy thing is, there are no sermons in this book. What it contains is simple observations from daily life, experience and observations to which you can easily relate.
You need this book to take a closer look at your life. The book contains the thoughts and observations across different spheres of your life. I am sure you are going to find answers to many of your thoughts in the pages that follow.
My humble suggestion to you: Kindly don’t treat this book like a regular book. Don’t finish this book in single reading. Read an article a day. It will not take more that 20 minutes of your time. Ones done reading, think about it. Think about the observations from your life. Discuss them with your colleagues, friends, life partner and family members.
I am very excited to get started. Can’t wait actually. Let’s begin from the first article that changed my perspective on life. 

INTRODUCATION

Why do you need this book? How this book can help you? How to use this book?

Let me tell you how this book came into existence. This book is a result of three years of extensive observations. The happy thing is, there are no sermons in this book. What it contains is simple observations from daily life, experience and observations to which you can easily relate.

You need this book to take a closer look at your life. The book contains the thoughts and observations across different spheres of your life. I am sure you are going to find answers to many of your thoughts in the pages that follow.

My humble suggestion to you: Kindly don’t treat this book like a regular book. Don’t finish this book in single reading. Read an article a day. It will not take more that 20 minutes of your time. Ones done reading, think about it. Think about the observations from your life. Discuss them with your colleagues, friends, life partner and family members.

I am very excited to get started. Can’t wait actually. Let’s begin from the first article that changed my perspective about life altogether.

​My Experiences with ‘Manache Shlok’.

I was a kid when I read the first Shlok from Manache Shlok. During those childhood days, our teachers made us by heart every single poem or verse that came our way. Thus, I by hearted around 5 to six of those beautiful shlokas in my childhood. 

By the stroke of luck, all the shlokas which I by hearted reflected religious meaning. I used to be averse of religion since early childhood. That was the reason, I  never read Manache Shlok very seriously. It was by some great fortune that I started reading these life changing shlokas during my graduation. When I started understanding one shloka per day, I started getting deeper insights. 
1. Manache Shlok is not a religious book. It’s purely a psychological book. The only reason God is mentioned in Manache Shlok is, people tend to give more attention towards something when it is related to God.

2. Manache Shlok, written in 17th century explains psychology in much details than many of The books and thesis on modern psychology. 

3. Manache Shlok focuses on making one a complete person. It takes one through different aspects of life including but not limited to God, religion, happiness, philosophy, management.

4. It’s unwise to read complete Manache Shlok in one shot. To understand its essence, you need to read it verse by verse.

5. It will help you understand how people think and help you become better person.

6. It will teach you how to deal with different phases like depression, loss, empathy etc.

7. It teaches you how you can become great. The practices suggested in Manache Shlok boost your confidence and self esteem.

8. You will find the solution to different problems you face in your day to day life. Your perspective towards world will be renewed after reading this marvellous book.
Hope you read Manache Shlok. Let me know your views and opinions by commenting. 

​Investment As A Long Term Business. 

Can you become a successful investor? Can it be your full time career? Let’s take a look at it

Future planning is an important ingredient for successful life. The more detailed the future planning is, the more easier your path towards success gets. For past few months, I have made it a habit to do the future planning and tracking my progress on regular basis. It has helped me a lot in my journey of life. 
The toughest thing about future planning is writing it on paper. It’s quite too easy to talk. However, when we begin to write the same, we face numerous hurdles. Yes, we struggle in the beginning. Gladly, the process gets easier every subsequent times.

 

Yesterday night, we (my wife and me) sat down to analyse our progress and to make some changes in the plans. Our main objective was to find out how we can gain accelerated growth over next couple of years. Currently we are invested into equity shares and we are garnering excellent returns. However, we wanted to find out opportunities which can give us better returns than equity shares and is risk marginal low risk.

During our search we reached to different options. Let me share them with you.

A) Starting our own brand of clothing and selling the goods so produced online as well as offline. This process can pay really well. Especially when you target a particular segment and produce your clothing in line with some broad objective. In our case we had the objective of coming ahead with Indian ladies kutis which won’t lose their colours so easily.

B) starting a hotel or delivery based food business. This business requires medium investment. However, there are quite too many factors that decide the success. You should have good offerings in menu at reasonable prices; you need to take care of hygiene at utmost level; the locality of restaurant should be good etc. 

C) starting a tour’s and travels business. This business needs medium level of investment along with experience. This sector is very competitive and full of risk.
Thus, we took different options and found that we didn’t like any of them. Thus we decided that for time being we won’t venture into any different business. We can keep up with investing in domestic equity, bonds, debuntures. 
What are the challenges underlying this option? 

A) its a sector riddled with risks. The share market is a risky place. It is dependent on quite a lot of factors like geopolitical issues, weather, different reports and all.

B) uncertainty of returns – no one can predict the returns of share market.

C) one wrong advice can ruin you. You need to study on your own.
In spite of all this. We decided to take investing as our long term business. Here’s what we thought about it.

1) we will not invest to get reach overnight. Instead our focus and target will be sustainable wealth creation. Shares market is a good place to accumulate wealth over long time.

2) we will not venture into small cap shares. These shares are high on returns and risk. We will avoid them. Instead we will trade in mid caps and large caps.

3) we will not be greedy. We are satisfied with 5 to 10% growth. 

4) we will not follow any advisory. The reason, no one knows the share market.

5) shares market isn’t gambling. So, we will not gamble on shares. Instead we will study each scrip carefully before making even the smallest purchase. 
We will follow these guiding principles every single time. 

We will keep you posted about our progress. 
Do share your views and opinions in comments. Waiting to hear from you.

How to be happy at work?

Being happy is the process. It’s all about managing stressful situations in right way.

For past few days, my work schedule is marred by the little conflicts going on at my office. In India, we call such tussle as Office Politics. What office- politics really means is one employee does back biting about other. The real tussle starts when other person finds out about this back biting.

The company where I am currently employed is a very small place. We have the total staff of 6 people only. In spite of this seemingly small employee strength, we face a lot of office politics. This impacted our professional lives to such an extent that one of our senior executives wanted to leave the organization. 

Being an office member, I knew about every inside story of this office politics. In fact, certain things involved me as a witness. And, to tell you the truth, its very troublesome. Because, there’s a chance that you will make some enemies even after doing the right thing. I, however, chose the right thing.

This whole incident, which involved a male and a female employee involved in oral spat, dragged on for a complete period of one week. Today, when it finally closed, I found some points worth sharing with everyone. 

1. The female employee had reacted to the words which the male employee hadn’t meant for her. Her disbelief on herself had dilluded her to think that the male employee talks about her all the time.

2. The person who communicated with both these employees had played real politics too. The third person made sure that the fire of anger stayed kindled between two of them.

3. The issues at stake were insignificant. It had arisen out of attitude problems. Had both the employees sat down and discussed, it might have been solved under 15 minutes.

4. It’s good to know that someone played foul with you. However, its not important to go to war at every small instance. The female employee had done this mistake.