Financial Management Skills are important
Let us face it, either you are interested in financial accounting and understanding or you are not. Of course all of us are interested in money, but not all of us want to spend time to understand it.
So we use our half baked skills, depend on some quarter baked RM, some insurance agent, or worse a CA who is working in an oil company to plan our finances. Such things can ruin you financially.
Sadly YOU have NO choice. You need to develop some basic skills in handling money so that you are not deprived of your rightful retirement.
We have seen lawyers, musicians, CAs, doctors cribbing to us about their kids not having the skills to handle their business. Why should we assume that money management skills are hereditary or every body is born with this innate skill?
OBVIOUSLY WE ARE NOT. So if you have money, but no money management skills please inbox me on FB or do something to improve your finance skills….or you could be in trouble.
Read the following link to see the Riches to Rags story…
http://www.sanskritimagazine.com/india/never-underestimate-power-time/
B
the fact that v r reading subramoney shows that v r intrstd…..
i have recommendnd this website to atlest 11 people……they hook on for a couple of days and then…….”they r not interested”………..
pooe they…..they will surely comeback after a decade or so….
Jitu
Subra,
One of my Prof. Mr. P.M. Nayak, who taught me Financial Accounting in my Masters use to say this quite often ” Either You Know Finanace or You Don’t” 🙂
IamNoSpecial
Hello Subramoney,
I have heard that some people suddenly got lucky with lottery and became super rich. However, they say, historically, it may be seen that the same people reach to their original level and bank balance sooner or later. Considering your age and experience, can you tell me if this is indeed true? Is lack of financial knowledge the culprit?
I mean how can person not live comfortably with bag full of money (i.e. super rich lottery ticket)? Even if he does not know anything, he can atleast keep that in FDs and earn minimum interest. But how do they end up being at the same place?