your personal finance guru for financial independence
Let’s face it. A burden-free retirement is what all of us expect through personal finance. But when you want and can ‘retire’ will largely depend on your own success of financial management. “Retirement planning can be defined as an individual’s goals for his retirement, a plan to achieve it, and all associated strategies required to […]
On this blog, we have talked about what you do when you have deficit money for your financial plans: borrow. Here, we talk about what you do when you have excess money: invest. “Investment or investing can be simply put as setting aside some money in a feasible source in expectation of a future return.” […]
Achieving your personal financial goals does not happen without risk. Remember we told to add an additional 10% on to your revenue budget? This is to push yourself to achieve your goals 110%. When pushing your limits, you may have to take some risks and insurance helps you mitigate the fall, if it should come […]
We humans always strive for ‘better.’ In this pursuit, there can be instances where the personal expenses rise beyond incomes. In such situations, we tend to rely on borrowings, formally termed as loans. “A loan can be defined as a borrowing of a set amount of money with the promise to pay back, including an […]
Banking has become an integral part of our lives when it comes to personal finance. Banking institutions help an individual to safe-keep their money also with a return. “A bank can be defined as an institution that accepts money (deposits) from the public (individuals and other institutions) and creates credit with that money.” Any excess […]
If you are keen on personal financial management, budgeting can take you a long way. Before we explain how it helps, let us give you some definitions of what budgets are; “A budget is a future oriented draft of your revenues and expenses and the ways and means of achieving this target.” A budget is […]
There is no definition set in stone to describe what ‘personal finance’ means. As the phrase suggests, it is a personal affair depending on your unique requirements and goals. However, if we were to sum up the broad area of what personal finance is, we would give you the below elaboration; “Personal finance is the […]