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Life Planning

  • When a six month Emergency Fund may not be enough?

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    An emergency fund is an essential buffer to tide over in unforeseen circumstances. You need a safety net when life throws those harsh bouncers at you. Most financial advisors advocate an emergency fund equivalent to 6 months living expenses. Living expenses here include only the necessary costs such as grocery, utility bills, EMIs, insurance premiums, children’s school/tuition fees, etc. While 6 months is taken as a rule of thumb, it cannot be a blanket solution as personal situation varies from individual to individual. Here are a few scenarios which if relevant to your financial life would require you to beef […]

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  • Important things to consider while lending money to Relatives & Friends:

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    Click to Enlarge Friends and loved ones are our true treasures, with whom we have a sense of belonging, who value us for what we are. But even with our near and dear ones, there could be moments of awkwardness, especially when it comes to money. It usually is a sticky situation when friends/relatives ask for money. It could be even someone in your business community. You might hesitate to offer financial help to a dear one fearing relations could get sour in the future. At the same time, you are emotionally drawn to help a friend/relative who is in [...]
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  • Why making Resolutions for the New Year is pointless and a waste of time?

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    As the year 2017 draws to an end and you look forward to a new year, making new resolutions must be weighing on your mind. Everyone likes new beginnings and people look for special occasions to make a new start. They are naturally motivated, just like a child is excited to have neat handwriting in a new notebook at the beginning of an academic term. Observe the parks or the gyms in your vicinity on January 1 of every year. You will see they would be comparatively more crowded than the previous month. This is the result of the new […]

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  • Typical Career Mistakes to avoid or to learn from

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    Our careers fill about 30-35 years of our working life. That is a huge time frame to make big money. Just like every area of our life including personal finance requires planning, so does our career. There has to be a strategy, a vision which can provide the right direction to our professional life. While it is important to take the right steps for a successful career, it is equally important to not make mistakes. We all make a few typical mistakes in our profession. From some mistakes, we can learn so that we do not repeat them in the […]

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  • Planning to turn your Passion into a Career? Think hard!

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    Love what you do, follow your passion. We have seen this mantra in movies, read about it on the internet & in books. It might have crossed your mind many times to quit your dreary 9-5 job and find a way to make money by doing what you love. There are many start-up stories to inspire which may induce you to emulate many millionaire entrepreneurs. The thing about being your own boss is very fascinating. However, the grass is not always greener on the other side, once you are on the other side. This article is not about discouraging people […]

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  • A Life Worth Living

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    As is usual, at the beginning of another new year, I got a call from a reporter of a financial portal asking what resolutions I have made in the new year to scale up my business. That made me think whether this is all we should think about all the time; how to make more money, how to be more successful and then focus all our time and energy to achieve that. We as Financial Planners are not only working for our clients helping them achieve their Financial goals, advising them on their money habits; but many a times we […]

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