Money Mantra -Simple Rules for making money

Money Mantra

1) Learn to respect money: always have a respect for money whatever you do, to understand better, take a walk in street for a day without a penny you will know what it is . We work for our whole life to earn money but never give same importance to understand money how it works. We invest in FD which is less than the inflation rate, understand the power of compounding interest it make wonders. Do not ask next door guy for suggestion where your money can be invested, take a little pain to research for your hard earned money I bet you its worth it.



2) Have a specific goal: As the famous quote goes “if you don’t know where you want to go any road will take you there “ its very important to have a specific goal what you want to achieve by when , example if you want to buy a house or car , be clear and when you want and how much you can afford. Do not go overboard.





3) Plan well: Making a plan is the most easiest job but adhering to the plan is difficult one, the one who succeed in sticking to plan is the guy who will win always.



4) Save for future : its not important what you earn but its very important to save in the earning. You must save at least 30% of your income for future, remember you live for 70 years but you earn only for 20 years. Think of an old men without a pension you will understand the power of saving.



5) Be conscious where you spend: spending is good and fulfilling as well.. but be conscious what and where you spend, evaluate the worthiness at time. Being conscious Is not as the same as miser , its being responsible and making a right choice.



6) Do not have credit card : Credit Card is a blunder and it is not your friend, You are making Banker rich and you are on the way to Bankruptcy, be cautious



7) Invest money : Remember money should work for you,.. you should not , money has a capability of earning and it must earn for you. have a clear strategy on long term and short-term investment, Understand Risk reward , where there is a risk there is a high reward but your portfolio should be balanced. Invest only in share and high return instruments what you can loose.





8) Pay off first your Debt : Debt is a killer , first it kills your pocket, then your happiness, then reputation, then family and finally it will take you. Very dangerous be calculative cautious and mange debt well.



9) Remember there is no Shortcuts to make money : Remember there is no shortcut to money making, it’s the only way is hard way .. work hard plan well save and enjoy the life.. “any shortcut you take will cut you short soon”



10) Be Systematic on investment : invest regularly and systematically .. consistency is the Key , think of a seeding a coconut tree and nurturing its growth over the year. it has to be systematic, caring and diversified.





At last enjoy the life “remember money is means to live not life itself ” do not forget to enjoy the life as it comes in small installment … do not wait for a big day .. who knows you may not be there ..!!



Take Care
Arun