Personal finance basics by Jagoinvestor.com

1. Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

3.    Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

5. After completing my study in 2004, I started my career in IT industry. Three thing was clearly injected in my mind by my father :- 1) Always maintain the cash for emergency. As in emergency cash is primary and relation is secondary. 2) Never go for loan. If you need money, first check with your relative and don’t mind paying interest on the money you owe from them. It will always be cheaper then bank. If no help available, consider the thing is not worth to invest. 3) Respect your money. Though I am not obedient son of my father but “Money matters”. So I started maintaining one excel sheet about my expanse. I must say with my experience that daily expanse is not cost you more if you spend smartly. So at the start of my career, I compromised on my comfort level. Instead of staying in separate house, I searched for shared accommodation or PG which really helped in saving a lot. Instead of buying bike, I calculated my per-day travel expanse and tried my best to minimize it by sometime taking lift with office colleague Travel and Stay is the biggest expanse as per my experience and this clicked me an idea of buying a house. I was not capable enough to buy the house, so instead of taking loan from bank I knocked my father’s door and able to convince him on 4% interest rate(following papa’s advice). No need to say that I paid 4% or not, but he is happy to see the value of that flat on today’s rate. But I was not able to stay in that house for more than a year as I changed my job very frequently(at least once or twice in a year) and happily rented so far. I travelled from Gurgaon–hydbd–Noida–Pune–Mumbai and then finally got chance for onsite UK in 2008. I applied the same logic and maintained at least 1 lac saving per month. And the story continued since then on saving more and spending less. With this, I am able to manage to renovate my own house for my parents (which they call now as my house officially ) Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

6. Then I married in 2009 on my own expanse and came back to India last year when we both thought that there is no place better than India on this earth. And it get proved as well, when my wife also got the job in same company and same building . Before coming to india, I showed no interest in paper form investment except ppf and property investment. But after becoming the member of JagoInvestor and reading some well written and advices article, I did another smart investment. 60 + 40 lac term insurance for me an my wife from two different company. One personal accident insurance of 40 lac from LnT for myself. SIP of 8k per month in different MFs , which I considered after reading one of the article on jagoinvestor where the comparison was made with child plan and other investments and purchased one villa plot in Bangalore. So far no Loan . So far the story is this but adding new pages everyday… I know there are more happy family out there but just want to say that “Saving does help not hurt”. Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

10. 1. Chasing a big score is easy, if you have a good start! Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

11. 2. Each team member has his place in the team Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

12. 3. You can’t hit sixes & boundaries every time. Just make sure your run rate is awesome! 4. Things can go wrong! You need to be nimble & re-evaluate your strategy Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

14. Is Installment system of payment bad ? Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

15. Affordability of EMI vs affordability of Loan Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

22.    Collection of 8 best personal finance articles for young investors | www.jagoinvestor.com

Personal finance basics by Jagoinvestor.com

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