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The current Bitcoin rally in India – What you need to know
January 29, 2018 0 comment(s)Bitcoin, are actually not coins but a kind of alternative currency that only exists in the digital domain. It is... -
Basics of personal finance
January 29, 2018 0 comment(s)Financial planning is essential; whether you are a student struggling with student loans or the CEO of a high-profile company.... -
Soon banks may be able to wipe out your cash
January 29, 2018 0 comment(s)One of the bills among an entire lot of banking reforms is to endorse the new law which frames the... -
Infrastructure
January 29, 2018 0 comment(s)The infrastructure sector is a major driving force for the Indian economy. This division is decidedly in charge of boosting... -
Money saved is money gained, irrespective of the source
January 29, 2018 0 comment(s)Money is a resource that is non-exhaustible. And everyone wants to save up money, whether it is to spend in... -
Top 6 personal finance books for millennials
January 29, 2018 0 comment(s)Millennials have a distinct problem with finance. This statement is a fact, plain and simple. A large majority of them... -
Losing all your savings in a digital hack online
January 29, 2018 0 comment(s)Banking today isn’t what it was a few years ago. Thanks to the increased, fast-paced digitalization, bank statements can be... -
Lessons a marketer should learn from a beggar
January 29, 2018 0 comment(s)Someone rightly said “Diamonds are rough and ugly before polishing. Though they’re unsightly, this does not reduce their inherent value.... -
Less than Rs. 500 in account? – Know where to invest!
January 29, 2018 0 comment(s)With our fast-paced lifestyle, it’s sensible to save money to secure our future. More so, it’s even wiser to invest... -
Venezuela to launch oil based cryptocurrency ‘Petro’
January 25, 2018 0 comment(s)Due to the collapsed economy, the President of Venezuela, Nicolas Maduro declared the initiation of “Petro”, a digital form of... -
Indian tech start-up investment scheme – Is there a vacuum?
January 25, 2018 0 comment(s)Indian startup companies have broken free from their mould and are now leading the way into the mainstream conventional startup... -
With financial education one can ride over the
January 25, 2018 0 comment(s)India is home to 17.5% of the world’s population but nearly 76% of its adult population does not understand even... -
Indian Real Estate – Major Trends to come this year
January 25, 2018 0 comment(s)The fiscal year 2018 is going to be a bumpy one for the Indian real estate sector. Many policy changes... -
Bitcoins – What gold was to the previous generation
January 25, 2018 0 comment(s)Technology is the one of the powerful tools that is ruling the world right now. The world is witnessing a... -
All you need to know about the FRDI BILL
January 25, 2018 0 comment(s)The Financial Resolution and Deposit Insurance (FRDI) Bill has been creating a lot of hype among the customers. Currently, the... -
You can manage your money without living below your means
December 8, 2017 0 comment(s)For any individual having a low paying job is a worry. If said person has to support people with the...
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Most of us define success as having a good job or making it big in business, being rich and owning fancy cars and luxury apartments with a couple of world tours thrown in off and on. Everybody is in the rat race to make money. Making money and being rich is everyone’s end goal or destination in life. We tend to think that all our money problems would go away once we are rich! But think about it…imagine you make a lot of money, cracked a great business deal, won a lottery or received an inheritance. But what then? Will you drop down and die the immediate next minute after getting rich? Highly unlikely, right? So even if you live for a day, a month, a
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Ramesh Chandra is a famous businessman who used to be a billionaire. He built himself from ground up. He owned a Private Ltd. company and loved betting in real estate industry. With profitable ventures of 1980s, he laid the foundation stone for a well-known real estate company Unitech. He was worth over 11 billion USD at his peak in 2007. As the crash of 2008 unfolded, Unitech’s prominence dropped to an all-time low and real estate industry in India came to a drastic halt. It cost Ramesh Chandra nearly 90% of his net worth. This basically marked the end of Ramesh Chandra. During the same times, another businessman had a different experience. Vijay Mallya is a lucky inheritor of vast amount of wealth. His father Vittal Mallya
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How to earn money and how to avoid losing it…definitively the two greatest teachings of life. Once you know how to do these both, nobody can stop you. All that you have ever dreamt of will cease to be dreams and turn into reality. There are many ways to earn money and many ways to keep it safe. But the ones I’m going to discuss today are the least spoken of and understood things, where people usually go wrong. How to earn money Unlearn all that you have been taught till now…hard work, better jobs, better salaries, etc, etc. Well all that counts but would never really make you super rich and successful! What you need is a mindset change. A shift from ‘working for money’ to how to
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Generally turning a year older adds few extra pennies to your kitty. People gain knowledge, experience; they do evolve, turn wiser resulting in better input and eventually enhancing the output & hence they end up earning more. But is this always the case? No. Let’s be grounded & do a reality check! Unforeseen events like accidents, layoffs, emergency medication etc can happen anytime, to anyone burning a big fat hole in their wallet. Hence it’s better to be prepped up to tackle such sudden incidents. And this preparation starts probably from the day we are born. Below are a few exercises which definitely going to make you richer as you get older. Virtual money lessons Probably the most difficult time to assess the value of money is during
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All of us dream to be rich. To live in a palatial house, to own a fleet of sports cars, to make heads turn with respect and admiration when we enter a room, etc, etc. Let’s face it…all of us dream about being rich, being successful, making it big in life. And hence, getting rich is usually our end destination…the finish line towards which we are racing…the point where our stories are supposed to end with the line ‘and I lived happily ever after.’ etched on it. You believe in this too. Think about it. But my question is - is it true? Is getting rich really the last milestone of your life? The end of your journey? What happens if you win a lottery, or
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Money is life’s necessity. For all the good that can be done with money, a lot of thoughts about money cause us a lot of stress. Just like in childhood, stories of ghosts in the park and getting bullied from seniors kept us awake in nights, money issues have become the cause of serious late-night worries for many adults. Financial fears can range from anxiety of getting a bill in the mailbox to piling-up debts. Humans have an odd way of reacting to threats. Getting scared, we try to ignore and avoid them. Truth is, these are fears because you haven’t faced them yet. Don’t get so overwhelmed with your financial fears that they become bigger than yourself. Face them, understand them and bust them. Remember,
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Life is full of opportunities at every step. It gives us many scopes and chances to innovate and be proud on ourselves. What we do with these opportunities matters! And what we don’t do, matters as well. For every path that we take, makes us who we are today. Yesterday, my neighbor came with a peculiar question to me. He asked me to tell him ways to discourage his son, from becoming an entrepreneur. So frustrated and hopeless was he with his kid. He asked me, “Ansh beta! Ever since you left your seven figure salaried job, you must have seen many downsides, tell me all about them so I could tell my son, not take on the same life.” I was startled. We were not
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Our thoughts control our actions and thus our life. Ever since we are born, we are programmed to do things in a certain way only. But it’s important to ask yourself- Is your mental approach to finance keeping you broke? A bad money mindset can become a hurdle between you and your financial goals. Let’s try to break out of our bubbles and see money from a different perspective. Most people, even financially educated ones have this notion that having a strict budget in place is a must. Following this rule religiously will bring a time when the budget, which was supposed to protect you will become a burden. A budget is a diagnostic tool, NOT another debt hurling on your head. Don’t turn it
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Real estate is a powerful wealth building tool and has made millions of big investors. A large portion of their business and wealth is still based in real estate and it is one of the main investments helping them stay rich. Financial samurais concede that most millionaires have used real estate to make their fortunes. In fact, statistically speaking, real estate bags the topmost position if you go about considering which assets the world’s billionaires are most invested in. It is especially true for India’s high net worth individuals (HNWI). A recent report by a London based real estate firm found that India’s HNWI individuals have heavily invested in foreign real estate and 87% of them are purchasing properties only for investment purposes. By real estate investment,
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Knowing the difference between assets and liabilities is the first and most important lesson towards gaining financial consciousness. Whole of our life we go by the populist classifications of what’s an asset and liability, but from ages ‘riches’ have defined it differently and that’s what has made all the difference between them and us. Accounts define assets as things we own (cash, house, car, etc.), and liabilities as things we owe (our obligations, like mortgages, dues, etc.). Old wisdom is in consonance with this idea. Earlier people believed that owning a house is life’s biggest asset, and what’s better if you own a car; it’s like an icing on the cake. But it’s important to understand that old rules have limitations and applying them blindly will only
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A budget helps in keeping spendings in check. It helps people to keep track of the money they earn and spend. ‘How to budget’ is the first lesson of financial freedom, followed by ‘how to save and invest’. When so many people already know how to create a budget and understand how important it is for managing finances, then why most of them fail to live by it? Why their budget fails them? Budgets fail because most people, including financially educated ones, fail to realize that budgeting is not a strangling activity. Post budgeting, you shouldn’t feel caught up rather relieved and relaxed! People have a tendency to make rigid budgets, which are a sure recipe for failure. A lot of times, people give up
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Each one of us has an expiry date on earth and one day it will be our children who will inherit everything we have built and saved. The inheritance we pass to them, can either become a blessing in their lives, or can ruin them for an entire lifetime. The difference will lie in the fact that if we as parents fulfilled our duties. If we have taught them to handle their money now, so they can win in life later. Leaving a legacy doesn’t only mean leaving kids with lots of money, rather it should entail, whatever we have we left our kids with- a lot or a little less, have we taught them to manage that money and turn it into a gift
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Let us start with the definition of the word ‘dare’, shall we? In common parlance, ‘dare’ refers to the courage to do something. But we have previously never really linked success, money and being rich with ‘courage’ or bravery, have we? No. We haven’t. We have connected success with hard work, with patience, with intelligence, with experience and a lot of other things. But courage? Why does one need courage to be rich? And how is it that even though some people do not end up being rich but can dare to be so? Let’s look at the heading of this article in a different way. Let’s say, all those who dare to be rich might not end up being rich. But all who are rich
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Is saving money your best strategy for getting rich? If it is, then you had better stop right now and find another way. No one has been able to build wealth just by saving money. Managing savings is a good discipline – it can give you a comfortable quality of life, but not a wealthy quality of life. The old-fashioned advice to save money and become rich is a myth. When you save money, where do you keep it? In the bank, in a savings account or a fixed deposit? The interest that money earns is not even enough to beat inflation – so you are actually losing money in real terms, the value of your savings gets eroded by inflation, hence you are poorer than before! And
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With almost everything surrounding money, emotions play a significant role in the lives of people whether belonging to a rich society or those living a middle-class life. While the rich focus on the fact that emotions should be kept at bay, the middle class often stress themselves over both emotionally and mentally in the urge to acquire more money. So, how should you be handling such situations? Let’s discuss what each category of people thinks on this for a better understanding. Emotion vs. Commotion Wealthy people have a strong sense of financial intelligence that helps them crack every milestone time and again. They take their financial decisions keeping emotional distress aside, as according to them it does no good in their journey to become rich. “Balancing your money is
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Irrespective of the kind of earning you have each year if you want to join the rich men’s club then you ought to put in a lot of things besides mere saving and a pay raise. The old schools methods of making money can give you a comfortable and prosperous lifestyle but once your ability to earn more money is affected you end up being broke again. All that you look up to then is your retirement policy and with a perpetual saying and thinking “I cannot afford it.” It is the right combination of time and money that helps one to be rich. No time to invest Most people think that the harder and longer they work the better are their chances to make money. In
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The middle class is constantly plagued by fears of money running out suddenly. The rich have more than they justifiably need and the poor have so little that, for them, it is not worth worrying about. Yes, it is very frightening to think that you have no more money, your credit cards are maxed out, your EMI’s are due, school fees, club fees, wages for home-help, groceries, etc have to be paid for. You do not become poor and moneyless overnight But except in a major global or national financial crisis, you do not become poor and moneyless overnight. It takes time for your financial resources to dwindle down and hit rock bottom. So don’t wait till you have your back to the wall – start protecting yourself
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Most of us tend to cling on to certain things in a particular way just because we have been taught to do so. Particularly when it comes to money, we feel so unsafe at all points of time that worries deprive us of the real pleasure that money is capable of bestowing on us. We feel threatened when we lack money and rush for accumulating the same without exactly knowing the real rules of the money game. Get out of the addiction Some situations I came across in life made me feel that I have become highly addicted to money. When this realization dawned on me, I exited out immediately to understand what it really means to have money and how I can become richer rather than
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Becoming rich is not merely a twist of fate, but rather a very brave and intelligent choice one needs to take in life. Most of the people who had been among the richest men club in the world today, all have this common characteristic trait in them. The problem one faces initially because of the humble beginnings is that there is neither money nor the skill a times to be rich. What rich people do is use others’ time and money to be rich themselves. Getting rich with other people’s time The money reserve of most of the rich men in India is because of the financial manager or adviser they have. Constantly talking and consulting with financial advisers is the key to your future wealth. It
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How many times have you stormed into your room, looked for a little cash here and there, turned your pockets inside out and exclaimed ‘Why on Earth do I never have enough money?!’ If you are reading this article, chances are, that a lot of times! Well, for all you folks…here are the top 8 weirdest money making ways for you to get a high on! Sell your photographs Almost all of us have a DSLR now and what we all do with it is go click happy, taking snapshots of whatever we fancy and of course our vacation snaps! Well, organizations pay huge sums of money to buy well composed photographs from online sites for their webpages, blogs, etc. So go put your photographs on
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You do know who said these words, right? The richest man on earth – Bill Gates! This coming from the richest person on the planet - it must mean something. There’s no denying that money is not everything. But, it’s definitely something. You cannot deny the fact that you need it for surviving. For some, money is a translation for being able to afford the few harmless indulgences of life and being able to enjoy the little luxuries. For others, it’s the way to make ends meet. Something to just get by and not really indulge in decadence! And so, while you may not need more of it and while it definitely cannot offer a replacement for everything in life, money definitely is a big necessity. This type of
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Money can’t buy you happiness. Yeah, agreed…it’s true. But can poverty buy you happiness then? Can it? The answer is most definitely a resounding NO! And why just happiness? Poverty can’t buy you anything…not food, not shelter, not clothing…hence definitely not happiness either! Hence, I have a problem with this proverb in the first place. Wait, if you are starting to think that I am the mean minded miser who only counts money and doesn’t care about anything else, that’s far from the fact. I am very much the balanced person who values both the little happy and romantic nuances of life, values hard work as well as believes in living comfortably. Infact, I’m probably a little too balanced or practical than many and thus have a problem
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The common proverb that we have always heard from childhood says ‘Money is the root of all evil’, but I strongly disagree, as would any really successful person, who knows how important it is to have the right mindset for making it big in life, would. To me, the gospel truth was, is and always will be, that – ‘Ignorance of Money is the root of all evils.’ One point to note here is that what I’m saying is also quite different from the common counter quote to the above proverb, that goes on to say ‘Lack of money is the root of all evils.’ Not that I disagree with that much, but my point has rather a broad line of difference with this counter
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So you have just decided to buy a house, have you? You are going to add to your assets and you are feeling very pleased about it, aren’t you? But hold on for a while; sit back and think. Do you have money available to invest in this house or will you have to take a loan? If you have to do the latter, then remember that after the initial down-payment you have to pay it back in regular installments (EMIs) for quite a LARGE number of years. Which means that for the next 15/20/25 years you have to shell out money to a bank or a lending agency for the pleasure of owning and staying in “your” home. Does this still seem like a great idea?
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Difficult as it may seem, any individual would think twice before investing their hard earned money and into a new idea. What is an idea but a mere vision of your future company or product/service that you want eventually to see the light of the day? And to see your idea turning into a reality and tangible product or service, you do need funds. Hence you need to scout for financiers and investors who can find strength and long-term benefit in your venture and trust you with his money. The next question will be how you would - Go about finding the right investors Convince him on your idea Be able to build the trust So let's look into few cases examples of how some entrepreneurs approached
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Have you ever wondered about why after slogging so hard at your job, you are still not as rich as your cousin who leads a very affluent life but does not seem to be working at all? It is only natural that you should do so. But you also should understand why it is so - why is there this huge gulf between his efforts and yours and his income and yours. This disparity is the difference between working for money (you) and making money by having your money work for you (your cousin). We are taught from childhood that “making money” is a bad thing because most people equate it to shady, get-rich-quick schemes, to activities that are not quite ethical and the like. But making
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The sense of scarcity of money is one of the root reasons of all money problems around the world. The utilization of money has grown immensely over the last three decades, but for most average humans in the globe, the mindset around money has not changed at all. Here’s the simple ways on how you can change your money mindset and thus be rich! Rule 1: Savings Doesn’t Make You Rich The scarcity of money is the reason why throughout our life we always intent to make big savings. Accumulation of money for a certain time is a stereotypical money mindset. Rather invest in shares, properties or mutual funds- where with little effort you can actually multiply your money. Rule 2: Check Your Expenditures A monthly budget plan
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There is a famous saying - “Wealth come those who believe in themselves and are determined to make it happen.” Anyone can earn money and multiply it two-fold. But how many people do you know, who know, how to make their money work for them and self-multiply! Ask any of the wealthy people living an abundant lavish life, and they will raise their hands. They just know the game too well. They just let their money do the bit while they focus on other luxuries of life. You can be one of them too. The constant urge of ruling the world like a king is what that will earn you the entire kingdom. But, is it so simple? Yes, it may be if you behave like one. “If
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Your ability to live the life according to your norms without any financial baggage is usually termed as a state of financial freedom. Rather than aiming for more money, it is financial freedom that we should all aim for. Here are the best five ways to gain this freedom. Curtail Unnecessary Expenses On the way to financial freedom, it is important to reduce your expenses to only those that are purely necessary. Hence regular shopping, lunch or dinner in the nearby restaurant, throwing parties often, are all considered as unnecessary expenses since you end up saving nothing at all. Expand Your Income Horizon If you are too fearful to take risks and quit your job for a start up, try to utilize the
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Bitcoin, are actually not coins but a kind of alternative currency that only exists in the digital domain. It is protected with layers of encryption and are mined digitally only. Bitcons are freely transferred from one user to another without an intermediary as it’s an open source software. Therefore, it means that no person, or company, or country owns this network. Since our current government is hell bent in a cashless economy, digital cryptocurrency has made its presence felt in India. Right after the demonitization drive by the current government, Bitcoin exchanges in India have witnessed a rise in the user base by upto 250 percent. Where can you purchase these? Bitcoins are mined using exclusive programs running on any individual’s computer that works to decrypt the algorithm,
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Financial planning is essential; whether you are a student struggling with student loans or the CEO of a high-profile company. Financial planning covers an extensive array of money topics including budgeting, everyday expenditure, debt, saving, retirement, and insurance among others. Here’s what you need to know about Financial Planning 101: Budgeting: This is one of the most vital basics of personal finance. At the very fundamental level of personal finance, you're dealing with a budget; you make money to spend that amount. Of course, not everyone makes a detailed weekly or monthly budget. Sometimes it is just the amount that needs to be spent for the week scribbled on a scrap of paper and stuck to the fridge. Creating a budget will make you realize how much
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One of the bills among an entire lot of banking reforms is to endorse the new law which frames the rules for the judgment of failing banks. All these details were leaked to social media which made worry ripple across banks in the country. This bill was approved by the Central Government in the month of June 2017. If the Indian government does go ahead with the passing of this bill, the Resolution Corporation, which is the proposed rescuing body, is the shoe-in for a large amount of “bail-in” power. This corporation can summon these “bail-in” conditions for saving a bank or a financial institution which is on the threshold of collapse. The corporation will be established under the Financial Resolution and Deposit Insurance Bill. Used to save
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The infrastructure sector is a major driving force for the Indian economy. This division is decidedly in charge of boosting the country’s overall expansion and enjoys powerful focus from the Government for setting off reforms that would make sure time-bound formation of world-class infrastructure in the country. This sector includes power and electricity, bridges, dams, roads as well as metropolitan infrastructure development. In the fiscal year of 2016, India progressed nineteen spaces to now rank number thirty-five in the World Bank’s Logistics Performance Index. This place was out of one hundred and sixty countries in total. Foreign Direct Investment According to DIPP (Department of Industrial Policy and Promotion), the amount of Foreign Direct Investment received for the years 2000-17 was worth an approximate 25 billion US dollars.
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