Simple Interest V/s Compound Interest. Which One Is Best?

Q: I have ₹ 10,00,000 in my savings account and want to buy a car. Should I buy a car with it or it's better to take car loan and make a FD from my savings? Let's capture everything needed to understand and identify the best option Interest: It's the cost we pay on the money we borrowed or the cost we get on the money we invested. Types of interest: There are two types of interest. Simple interest and Compound interest. Simple…

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Why having assets can help you achieve financial freedom

Not everyone thinks of creating assets and aren't ready to build assets because financial freedom is an alien concept or it do not exist for some. They may love their jobs (which hardly is true) and think that's the only way to secure their future and fulfill their adapted lifestyle and necessities. People work for 40+ hours and try building reputation for getting increase in salary by the end of every financial year. But that doesn't happen in many circumstances. The problem is-…

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The Best Is What You Can Make In Your 20s

One of the most insane advice you can get in your 20s is to not to have concern about money because you're a free person who just stepped into the corporate world!!!! You are often listening people saying " it's the time you can travel the world, make best experiences and memories when you have health." That's enticing to hear! Your co-workers and even your familes & relatives keeps on drilling your mind with this advice. I completely disagree with this old thought…

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Why You Need A Budget To Save More?

Not tracking your finances may lead to destruction. It may lead to debt, delayed retirement, stress, a paycheck to paycheck lifestyle, and/or more.You want to pay your debt, save money for retirement, pursue your passion, or else, there are many benefits to tracking your financial situation. And so, budgeting is important part of life. Before I let you know why a budget is an extremely important instrument which allows you to feel awesome about your financial situation. Let me make a picture clear…

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Is It Possible To Be Both, Minimalist and Frugalistic?

Being minimalist or frugalistic are totally contrasting concepts in itself. Minimalism focuses on quality and frugalism says about worshiping the quantity. It's so common to watch people buying in bulks even when the goods are of average quality. So if seen, people mostly tends to be frugal However, when you desire not to have a lot of clutter at home and in your lives, you slide to simplicity and quality and decide to be minimalist. For example; If I am buying set of…

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How Can An Emergency Fund Help You Live Well?

Almost everyone has their own dreams and goals. People had soo many aspirations in 2007-2009 as well from jobs, share market, lives and so on. A big picture of life! Right. As it's said 'Unexpected'.. It really was the same for them...... After the great recession hit the economy at the end of 2007, it led to global economic downturns. Since then we are now having small recessions after every few years. The recession made the US, the most powerful country see their…

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