Please read the Part 1, before reading the Part 2.
Rule no. 6: Don’t spend more than you make
I think this rule is very simple. I don’t think I need to explain this rule. Isn’t it self explanatory? If you spend more than your income you will be in trouble. Honestly most of us don’t really know how much we are spending and how much we are earning. The relationship between spending and earning is not very complex but the understanding that we have is not very clear. Continue reading
Please read the Part 1, before reading the Part 2.
Rule no. 3: Don’t be emotional
Don’t be emotional when you make money decisions. It never makes any sense to me and I am sure it is same for you also. In the initial days of investing in stock market I made stupid mistakes. These mistakes were due to the fact that I was using my heart and not my brains. I use to have loads of emotions while buying and selling stocks. At times I used to blindly believe that some stock will go up and some will go down. These were terrible mistakes. I have burnt my fingers in that. But the fact remains that it is the same with you as well. Don’t do that. Continue reading
These are not the only set of rules to increase your wealth. These are just my thoughts as to how to increase your wealth. These rules I have set to myself and I want to share the same with you.
Rule no. 1: Set the goal
This is the most important step in the direction of increasing your wealth. It is very difficult to make a path without knowing the destination. I have had always this problem of not setting the goal and roaming aimlessly of doing something. Then I realized it is very important to set goals and if you don’t know how to set goals, read up about goal setting or attend courses about goal setting. It is very important. Goals are as important as wealth. If you know exactly where you want to go and when you want to reach you will make sure that everything falls in place for you and believe it or not it happens knowingly or unknowingly. Continue reading
I wanted to explain about “Bad Debt” for quite a while but I was not quite sure how to go about it. I am sure most of you will know about the financial turmoil that the world is facing and that is mostly attributed to the US and the bad debt of US. I had read about the same lots of time but it was way too complicated and it had all the financial terms that I could not clearly put across. Recently I had a talk with one of the acquaintance and that led me to write this article. Continue reading
These are some of the facts that I have collected over the years about money which I thought I will share it with you. I don’t have the source from where I have the following information so please forgive me for not providing it and I don’t take the ownership of the following information.
In olden days Spanish coins were known as pesetas and centimes. There were fifty centimes coins, and also coins of one and two and one half pesetas. The coins carried the portrait of Francisco Franco. Italian coins were called lira. Continue reading
Engineer's Finance 