Eight timeless truisms to start your engagement with money this New Year on a good note

<strong>Eight timeless truisms to start your engagement with money this New Year on a good note</strong>

Another year has come to an end, and another New Year has peeped into our lives. Every New Year, by its very birth, fills us with optimism, which in a way is good. And every New Year, we try to channelize that rejuvenated optimism into action through resolutions.

 

This is also a good time to go back to the starting line again, and a good way to do so is to re-affirm your belief in principles or truisms that resonate with you, and which you can build into your way of life. Let me share with you eight truisms that I find useful in terms of defining my attitude and my actions towards managing money.

 

 


Our latest article, published in Moneycontrol.



https://www.moneycontrol.com/news/business/personal-finance/you-will-work-shorter-and-live-longer-than-you-think-are-you-prepared-9837611.html

 


Image credit: Moneycontrol

 


Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

 

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Managing your money better: Lessons to learn from FIFA World Cup 2022

<strong>Managing your money better: Lessons to learn from FIFA World Cup 2022</strong>

Over the last four weeks, Cricket seems to have been displaced from our collective mindspace by another sporting event, arguably the biggest of them all, the Football World Cup.


This once-in-four-years event converts existing casual football followers into aficionados, as well as creates football lovers where there were none, while of course, football fanatics become self-styled experts.

 

There are quite a few money lessons that one can draw from sport, and the Football World Cup is no different. So here a few timely takeways on how you can manage your money better.

 

Our latest article, published on Moneycontrol.

 

https://www.moneycontrol.com/news/business/personal-finance/managing-your-money-better-lessons-to-learn-from-fifa-world-cup-2022-9732621.html

 

Image credit : Moneycontrol

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

 

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Buying a house as an Investment? Here are the risks you must take into account

Buying a house as an Investment? Here are the risks you must take into account

In our journey as financial planners, one of the biggest constants that we see in most customer portfolios is this – they are either already real estate heavy, or customer high-priority goals include buying additional homes – as an investment.

 

This must come as no surprise, since an overwhelming 84% of all household investment assets in India (RBI Household Finance Committee Report, 2017) are in this favorite asset class – no prizes for guessing – Real Estate.

 

That being the case, it may be prudent to consider these five investment risks associated with this asset class, since each one of these risks have the potential of causing significant damage to your financial independence journey.

 

Our latest article, published on Moneycontrol.

 

https://www.moneycontrol.com/news/business/personal-finance/buying-a-house-as-an-investment-take-into-account-the-following-risks-8336821.html



 

Image credit: Moneycontrol

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

 

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Buying a home too early in your career is a financial mistake that you will repent later

Buying a home too early in your career is a financial mistake that you will repent later

In the last few years, there is an increasing focus on financial independence as a personal financial topic of interest. Financial Independence (or Financial Freedom) is the financial state where one has acquired enough passive income (through investments), thereby not requiring one to have to work to earn one’s living for the remaining lifetime.

 

World-wide, the concept of FIRE (Financially Independent, Retire Early) has gained a lot of traction, but Financial Independence is a relatively new and less understood concept in India.


The things to do to become financially independent are fairly simple and not rocket science. But many a times, not doing the wrong things is more important, rather than just doing the right things. What I want to share today below are three mistakes that can have serious consequences on one’s quest to achieve financial independence. While they may be repairable, the damage caused to the journey can be severe. Our latest article published on Moneycontrol.

 

 

 

https://www.moneycontrol.com/news/business/personal-finance/buying-a-home-too-early-in-your-career-is-a-financial-mistake-youll-repent-later-8286821.html

 

 

Image credit: Moneycontrol

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

 

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Explained: All about asset allocation and how it helps you reach your money goals

Explained: All about asset allocation and how it helps you reach your money goals

With markets now near all-time highs, one of the jargons that is on top of the pile is “Asset Allocation”. Every newsletter or interview, whether of your fund manager, your broker or your bank refers to this term and advises investors to heed market valuations and “stick to their asset allocation”.

 

While Asset Allocation is one of the most under-estimated tools for building long-term wealth, the words “asset allocation” themselves are quite a technical term and these words are not necessarily part of an average investor’s lexicon. This implies that many investors may not be aware of what this term means, or even worse, may have a wrong understanding of this term.

 

That said, Asset Allocation is one of the most under-estimated tools for building long-term wealth, and the below primer explains what Asset Allocation is, why and how you should use it and how you can benefit from it.

 

https://www.moneycontrol.com/news/business/personal-finance/explained-all-about-asset-allocation-and-how-it-helps-you-reach-money-goals-7750791.html

 

 

Image credit: Moneycontrol

 

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

 

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This Diwali, light up your personal finances by following these steps

This Diwali, light up your personal finances by following these steps

For most of us Diwali is that time of the year which spells joy, laughter, togetherness and gratitude. With the festival being just round the corner, last minute preparations must be on at a frenzied pace to ensure that nothing is left to chance and another Diwali goes by joyously, adding to beautiful memories.

 

 

Every festival comes with its own set of rituals. We worship goddess Lakshmi during Diwali.  Lakshmi is the goddess of wealth and ushers in prosperity and wealth. It is very interesting   to see how some of these rituals lend itself to financial well-being and wealth building. So, this Diwali, take a leaf out of your festival routine and spruce up your personal finances!

 

 

Our latest article, published on Moneycontrol.

 

 

https://www.moneycontrol.com/news/business/personal-finance/this-diwali-light-up-your-personal-finances-by-following-these-steps-7660631.html

 

 

Image credit: Bombay Sweet Shop, Moneycontrol

 

                      

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

 

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Explained: Five money mantras to become financially free

Explained: Five money mantras to become financially free

At its simplest, Financial Independence means “having enough money so as to never work again for the rest of your life”. But as you would agree, neither is life simple, nor is it as predictable and straight-forward as one would like it to be. This effectively means that as you go along your life journey, your definition of what Independence means keeps changing as your goal posts keep shifting.



That said, it is not rocket science, and it is something that everyone should aspire towards, not just for the financial security, but for the mental doors that it opens for you when you discover that you are no longer working for the money.




Based on our journey, I share with you below a few simple principles that you can follow to get onto, and stay on this path. But beware, what is simple to understand is rarely easy to do, and requires discipline, patience and the ability to say no to your ego.

 

https://www.money9.com/news/investment-planning/explained-five-money-mantras-to-become-financially-free-68983.html

 


Image credit: Pixabay @ Pexels

 


Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

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What the recent Olympics can teach us about managing money matters

What the recent Olympics can teach us about managing money matters

In the past weeks, the 32nd Olympics, Tokyo2020, provided the world with sporting excellence and entertainment on display across a range of disciplines. For avid sports fans, these two weeks were exciting days, merrily switching live-streams across events as diverse as hockey, gymnastics, track & field, badminton and golf.


While there were winners, we discovered there were many more heroes, some whose names we heard for the first time, but will remember for long. The Olympics provided some memorable moments but also lots of food for thought. Here are a few observations, particularly pertinent in these raging bull markets.



https://www.moneycontrol.com/news/business/personal-finance/what-the-recent-olympics-can-teach-us-about-managing-money-matters-7364211.html



Image credit: OutlookIndia, AP Photo



Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

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Find out how smart were your money decisions in the last 12 months

Find out how smart were your money decisions in the last 12 months

My recent article was about how just like we frequently do a stress test as part of our regular health check-ups, we also need to periodically “stress-test: our personal financial health to check preparedness for financial calamities.

 

While many of us thankfully may be financially secure and prepared for calamities, we nevertheless can still do better when it comes to taking money decisions. And there are enough practical life situations around us that we face (or observe) that we can learn from on how we can take our money decisions better.

While we might feel that we are good at taking money decisions, how good are we really? The best way to learn is from our own experiences and the last 12 months will have given you plenty of them to learn from! So, give this “practical exam” to learn how good you are with your money decisions.

 





Our latest article, published on Money9.

 

https://www.money9.com/news/money-mistakes/find-out-how-smart-were-your-money-decisions-in-the-last-12-months-33417.html



Image credit: Money9



Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

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How to be better prepared financially for the “wars” in your life

How to be better prepared financially for the “wars” in your life

While we make extensive plans for most eventualities, something suddenly happens that takes us by surprise and throws all our plans haywire. Take the last 12 months itself as an example.

In a way, we live our lives largely assuming things are going to be peaceful and are usually well prepared for peace-time events. We do make our plans and are prepared for some surprises, but it is when “war-time” strikes our lives that we suddenly find ourselves head under water and gasping for breath.


Such times are also the best time for us to learn about our resilience, our capabilities, our strengths & weaknesses and give us the best clues about what to change about ourselves, hopefully before the next “war” hits.


So, what are some of the “war” situations that has struck your life and how prepared were you? And how can one be better financially prepared for when “wars” strike?


Read our latest article, published on Moneycontrol.



https://www.moneycontrol.com/news/business/personal-finance/use-the-covid-crisis-to-stress-test-for-your-personal-finance-plans-6821181.html



Image credit: Moneycontrol


Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

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