These are basically the gospel truths of personal finance. It is a quick 3 min read but will definitely have more information than some long-form articles:
1. Time is a Scarcer resource than money - Invest in a way that you can have more control over your time.
2. Get rich quick and get poor quick are two sides of the same coin. As we always say: High Risk = High Returns and low Risk = Low Returns. Every time you look at returns, be prepared for the risk that comes with it.
3. A house that you live in is your consumption, not an investment. Your second house can be considered an investment.
4. Don’t pay interest to acquire something that loses value - Car & personal loans for weddings & travels must be avoided.
5. A rise in income shouldn’t mean a rise in lifestyle. Well as we reach the new financial year, many of us would be looking at bonuses and appraisals, plan to invest a part of it before we plan our expenses.
6. A penny saved is more than a penny earned. Save before you spend
7. Invest in your mind and skills first.
8. You don’t have to be rich to invest, but you have to invest to be rich.
9. Market corrections come more regularly than birthdays expect them. For those who have been investing from April 2020, be careful there is more to markets than just going up.
10. There is an inverse relationship between investment performance and time spent watching financial news. Only watching the news will not help you get high returns.
11. The more complicated the investment advice the less useful it is. Go for simple advice which can actually help you apply it.
12. Admire people who earn more money than you, not people who spend more money than you. Yes please, people who look rich are not always rich.
We have our youtube videos live, where we are sharing highlights on investing in Equity this week - do check the videos to learn more here
Disclaimer: - The articles are for information purposes only. Information presented is general information that does not take into account your individual circumstances, financial situation, or needs, nor does it present a personalized recommendation to you. You must consult a financial advisor who understands your specific circumstances and situation before taking an investment decision.