Money management is the whole process of getting wealthy and includes: earning, budgeting, spending, borrowing, accounting, taxation, saving, trading, investing, etc……. So it is likely that some of the points here could be relevant to you but not to APPLICABLE at this point in time……but still please read on: 1. NOT knowing the difference between […]
First Make a budget! – this is a good new year resolution to make. Perhaps the best. Budget, is normally a word which has negative connotations! If you see saving and investing as “consumption foregone today for consuming at a later date” you might see it in a different light. One of the challenges with […]
If you have wondered how the ultra-rich manage their money, welcome to the world of Family offices! Family offices are private advisory firms that serve ultra-rich clients. When a client has a large amount of money to be managed and needs a full fledged infrastructure to do that – a banker, a Chartered Accountant to […]
http://www.subramoney.com/book-written-by-me/ “Whatever I do, my weight does not come down” and “Whatever I do I cannot reduce my expenses” – are commonly heard statements. If you are a doctor, a wealth guide, a financial planner, …you hear both of these statements. Normally people do not write down diligently what they earn, spend and invest. Similarly […]
Delayed gratification is so boring! Particularly when it comes to finances, constantly pinching pennies and saving all your extra cash is pretty darn boring. Which is why so few people do it well. There are too many fun things to spend money on.Yet, unrestrained spending (especially the kind that lands us in debt) is the […]
Women surely have some peculiar financial planning needs. We will not do too much in detail here – but suffice to say that some requirements are unique. Though most adult women I meet are married, I guess most of them will die alone – widowed, divorced, or not married at all. So at some stage […]
If you are a student of financial planning you should know the following. Just find out how many of these statements are true and how many are false….. Financial planning is perhaps difficult for a client to do it himself because of the personal bias that might set in. Procrastination is the enemy of compounding. […]