Financial Planning

Explained: Five money mantras to become financially free

Girish Ganaraj Financial Freedom, Financial Planning, Money9, Personal Finance , , , 0 Comment
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

Girish Ganaraj Equity Investing, Financial Freedom, Financial Planning, Moneycontrol.com, Personal Finance , , , 0 Comment
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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5 simple steps for DIY Investors to manage their investments

Girish Ganaraj Equity Investing, Financial Planning, Money9, Personal Finance 0 Comment
5 simple steps for DIY Investors to manage their investments

In the last few years, we have experienced two changes that are here to stay – One, the average investor is getting younger. And two, the investing process has moved to being fully digital.


These two factors, combined with the new-age confidence that today’s younger generation possesses, has led to more and more investors seeking to invest on their own. Or as it is known popularly, DIY (Do-it-yourself).


That said, investing in markets is fraught with risks, and understanding those risks and preparing for them is a critical pre-requisite for both creating and protecting wealth. Hence having a laid-own process with key steps to follow will help DIY investors have a guide-map to reach their objectives as well as guard-rails to ensure that they don’t fall off in the interim.


Our latest article, published on Money9.


https://www.money9.com/news/investment-planning/steps-for-diy-investors-to-manage-their-investments-55200.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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What sports coaches and investment advisors have in common

Girish Ganaraj Financial Planning, Moneycontrol.com, Personal Finance , 0 Comment
What sports coaches and investment advisors have in common

In the last few weeks, sports fans have been treated to some exciting and memorable sports events – the French Open, the WTC final and now the Euro. These three sports are completely contrasting in the way they are played, in the intensity of the games, the importance of the team vs the individual as well as the interplay between the players and the coach.



Our latest article, published in Moneycontrol talks about what can we learn from these sports specifically on the last point above, that we can apply to how we manage our money.

 


https://www.moneycontrol.com/news/business/personal-finance/what-sports-coaches-and-investment-advisors-have-in-common-7116661.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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Don’t just stop at taking a home loan, make sure it’s insured too

Prathiba Girish Estate Planning, Financial Planning, Insurance, Moneycontrol.com, Personal Finance , , 0 Comment
Don’t just stop at taking a home loan, make sure it’s insured too

Dealing with the aftermath of Covid wave 2 has been unsettling and depressing.  The family which has lost a loved one suddenly needs to deal with a lot of chaos and confusion, not even allowing them to grieve in peace.  This is primarily since in most households, one spouse takes the lead in handling finances and related matters.  The other spouse naturally gets complacent that these matters are being taken care of and hence doesn’t even attempt to get a broad picture of the state of assets, liabilities etc.




While this experience has given a lot of action points and mistakes people should avoid, we will concentrate on liability, especially the home loan for the sake of clarity.

 

Our latest article, published on Moneycontrol

 

https://www.moneycontrol.com/news/business/personal-finance/insure-home-loans-and-keep-your-spouse-informed-on-investments-during-covid-19-times-7012761.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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Find out how smart were your money decisions in the last 12 months

Girish Ganaraj Financial Freedom, Financial Planning, Money9, Personal Finance , 0 Comment
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

Girish Ganaraj Financial Freedom, Financial Planning, Moneycontrol.com, Personal Finance , , 0 Comment
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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How do you make a habit of giving back to society at all salary levels

Prathiba Girish Financial Planning, Moneycontrol.com, Personal Finance , 0 Comment
How do you make a habit of giving back to society at all salary levels

The past year has been uniformly difficult for most of us.  However, for some people lower down the pecking order, things have been unimaginably bad. Most of us do help someone out financially, but usually this is a one-off case done without much thought.

 

My conversations on the topic of giving with most people always leads back to the same position, we are not there yet. When do you start giving? When do you acknowledge that you have enough for your needs?  After all our wants keep expanding and the list is endless.  If we wait to take care of all our wants, we are essentially guaranteeing we will never be able to give in our lifetime.

 

 

Our latest article, published on Moneycontrol.

 

https://www.moneycontrol.com/news/business/personal-finance/how-do-you-make-a-habit-of-giving-back-to-society-at-all-salary-levels-6758081.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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The last 12 months were a stress-test on your personal finances. How well did you fare?

Girish Ganaraj Financial Freedom, Financial Planning, Money9, Personal Finance , , , 0 Comment
The last 12 months were a stress-test on your personal finances. How well did you fare?

As we get into the second quarter of 2021, life seems to have come full circle, as they say, and we seem to be well into a 2.0 version of last year. But just a few weeks back, the memories of 2020 and the troubles wrought by the pandemic seemed distant and fading. Life had more or less returned to normalcy in most parts, and people seemed to be mingling as though social distancing was a bad dream.

 

While the memories of last year seem short-lived, I have a different view on this – keeping the experiences of the last 12 months alive in our memories and better still, taking actionable insights from it to prepare for the future, may be one way of being safer and more secure in a future increasingly turbulent and uncertain. So, as we go into a vicious relapse, it may be prudent to quickly assess how each one of us fared during those stressful times.

 

Most of you would have heard of a “Stress Test”. In personal health, a stress test assesses the state of your overall fitness and particularly your heart. Simply put, a stress test simulates the health and strength of any system that you wish to test, through appropriately designed procedures. Similarly, one can design a stress test to check how prepared one is financially to endure a financial crisis, like what happened in the last few quarters.

 

Answering this simple six question test below will be a rudimentary yet effective way to check how healthy your personal finances are. Our latest article, published on Money9.



https://www.money9.com/news/investment-planning/covid-19-impact-on-your-financial-life-how-well-did-you-fare-22197.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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Money lessons to be learnt from the women in our lives

Girish Ganaraj Financial Freedom, Financial Planning, Finwise Woman, International Women's Day, Moneycontrol.com, Personal Finance , , , 0 Comment
Money lessons to be learnt from the women in our lives

Our behaviors towards money and the money decisions that we make at various junctures in our life are influenced by our experiences at a formative level, right from childhood.


Am sure that this comes as no surprise, after all, money experiences are also a part of the various influences that form us through our life. Where I see a bit of a twist is that while my family was a fairly orthodox one, the women in the family were curiously still quite involved, and to some extent, even dominant, in some of the money decisions that were taken.

 


Our latest article published on Moneycontrol.

https://www.moneycontrol.com/news/business/personal-finance/money-lessons-to-be-learnt-from-the-women-in-our-lives-6693371.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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