Affluent Savvy
Affluent Savvy
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Here are some ways to manage your money wisely: Create a budget: Making a budget is the first and the most important step of money management. ... Save first, spend later: ... Set financial goals: ... Start investing early: ... Avoid debt: ... Save Early: ... Ensure protection against emergencies:
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The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Learn More »Most people talk about earning more money, however, not many people talk about how to effectively manage it. While creating wealth is essential, it is equally important to protect your funds and use them prudently. Your hard-earned money needs to be saved, invested, and spent judiciously in a systematic manner in order to ensure long-term stability and liquidity. This can be done through effective money management. An important aspect of money management is keeping a track of your expenses and reviewing them periodically. This helps you stay in control of your finances. It helps identify and reduce unnecessary expenses and spend on things that are necessary.
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The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Learn More »5. Avoid debt: While taking loans to achieve your life goals is a common way, they do come with a fair share of problems. The high interest can eat into your savings. Taking on multiple loans also affects your credit score, thereby making it harder for you to avail credit when absolutely necessary or in some cases, even a job. So, try to limit your debt as much as possible. Being dependent on credit cards or taking on too much debt can hamper your budget and become a financial burden. 6. Save Early: It is important that you start saving as early as possible. Let us understand this with an example. Consider Mr. A who starts saving ₹ 10,000/- per month, from the age of 30 till the age of 60. This means, he saves ₹ 1,20,000/- per year. Let us compare this with Mr. B who starts saving double the amount, i.e. ₹ 2,40,000/- per year from the age of 45 till the age of 60. Let us see how their saving turns out assuming the same rate of return.
Both “Amount” and “Amounts are correct. We use “amount” with singular and uncountable nouns and we use “amounts” with plural nouns. There is a...
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The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Learn More »Mr. A Mr. B Age at start of saving 30 years 45 years Age at end of saving 60 years 60 years Amount saved per year ₹ 1,20,000/- ₹ 2,40,000/- Expected annual rate of return 8% 8% Total amount saved over the years ₹ 36,00,000/- ₹ 36,00,000/- Value of savings at the age of 60 ₹ 1,46,81,504/- ₹ 70,37,828/- Thus you can see how saving earlier has helped Mr. A gain ₹ 76,43,676/- more than Mr. B even though the amount saved by both is the same. Simply put, the earlier you start saving, the more interest your savings will get over time. With the power of compounding, you get interest not only on your savings but also on the returns earned every year. Thus, saving early helps to generate more money with the power of compounding over time. 7. Ensure protection against emergencies: It is always advisable to stay financially prepared for any kind of uncertainties in life. These uncertainties can be in the form of a job loss, an accident or an unexpected health emergency. Being financially prepared can help you deal with such situations easily. Insurance plans like term insurance, health insurance and It is always advisable to stay financially prepared for any kind of uncertainties in life. These uncertainties can be in the form of a job loss, an accident or an unexpected health emergency. Being financially prepared can help you deal with such situations easily. Insurance plans like term insurance, health insurance and critical illness insurance can help you to secure yourself and your loved ones financially in case of an emergency.
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The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Learn More »
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The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Learn More »
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