Hi Friends,[BR]
We oftern get carried away by looking at rich people the way they spend, the way dress, the way they get car and lot many things.[BR]
Here my intention is not to make you rich by overnight but sure want to increase your wealth by simple tips
Always make a plan for your earning and expenses irrespect of your earnnings/expenses.(plan should be flexible and backed by dissater plan.It should not be rigid).[BR][BR]Stick to your plans. Revised if some uncertain things happen(in rear case)[BR][BR]Make small saving. Always Think twice prior to spending, is there an alternative way to meet thuis expense or deferr?[BR][BR]Once a small saving becomes big to be invest, invest in Bank FD or purchase land/house, mutual fund, shares of A category. etc. Never ever spend this amount on day to day use.[BR][BR]
Illustrations:[BR]
Change job for better earning ---- can''t make decision here are some parameters that will help to decide:[BR]1) why need to change[BR]2) Besides monetory gain what i am going to gain[BR]3) Status and focus of business of both the company[BR]4) Positions and family concerns[BR]5) What is worse that will happen if I shift to other company[BR]6)Whatis best thing will happen if I shift[BR]5) What is worse that will happen if I don''tshift to other company[BR]6)Whatis best thing will happen if I don''tshift[BR]Assign marks for each questions and analyse it. Now you will see greater and clear picture to make your decision.[BR][BR]
Peanuts make good bucks -- How[BR] Based on your capacity put some amount aside daily or monthly say 2$(daily). [BR]Accumulate it by month end it be between 50-75 $(assume at times u missed or saved more).[BR]Now [BR]option 1[BR]Invest this peannuts in Stocks:[BR]purchase share of "A"grade company whose prices are stable and market is not over priced though you can purchase only an unit.
Repeat the cycle month after month and year after year.[BR]After 10 years your investment wil be 6000-9000 $ and if compare your stock price it will worth approx 12000-15000$, so you will get return by way capital appreciation, dividend/bonus,etc.(Risk is high compared to Bank FD)[BR][BR]Option 2: Purchase units of Mutual fund on regular basis as above. Return will be less than stock. (Risk is medium)[BR]
Option 3:Open recurring bank account and deposit it on regular basis. On maturity make Fixed Deposit(FD). Assured returns and Risk is lower( this scheme helps to meet your kids Education especially higher studies)[BR][BR]
Alternative means of spending: [BR]In todays world Credit are being used extentsively. Use credit card to your benefits How?[BR][BR]Answer is simple. dont spend cash Spend it thru credit card and let remain you hard cash in saving bank and earn interest for 45 days.On receipt of statement of creidit card statement(due date of payment 45 days after you actually spend the amount) make payment of it.[BR][BR]There are many ways to make big bucks not overnight but out of your hard earnings in a logical way. Hope you guys agrees with me.[BR][BR]The above views are of mine and nothing imported from any article/books. Aim of above article is create habbit of saving and no further intention[BR][BR]
I f you guys feels that what i state is right. please invite your friends and relatives to read this and follow it it is beneficail to entire society irrespective caste, creed, colour,etc.[BR]
BYE[BR]Atul[BR]