Mission of this Blog

3rd April,2020

Money Game

Hey friends,

My name is Shubham Rao and I've started this blog to tell you about what I've learned about personal finance till now and I will time to time publish the actual rules of money which I have applied in my life up till now.

The things I will be posting will be according to Indian perspective so to provide actual workable advice for the Indian community. Also I am not financial expert or haven't had formal education in finance but I have personally learnt this from various business books and blogs and from all over the internet as I believe that "Formal education/degree gives you job while self-education helps you to build wealth. So on this note let' start this journey and take my advice with grain of salt and follow my advice only after having discussion with yourself as You can learn from anyone but you can't rely on anyone for personal finance.

Shubham Rao

Comments

Save - Save!

5th April 2020 7:43 a.m (IST) SAVE! The most important step in the game of financial independence is to "Save". In this world no one has ever become rich without saving and its the step you should command first followed by power of investment & leverage. You will encounter the phrase of "Paying yourself first always" in many financial & business books - from "Rich Dad & Poor Dad" to "The Richest Man in Babylon" So now the question is -"What's the right way to save"? The best way to save for early financial independence is by saving up to 60% of your income and leaving only 40% for your expenses. For most of you this might look shocking percentage but you have to realize how important is saving if done in the right way and If you're in your 20's then you have to realize the power of frugality in this time. The more frugal you live the more you will able to save. Let's suppose you earn 20K/mo...

Tracking Game

5th April 2020 9:47 a.m (IST) Tracking Game T racking the inflow and outflow of every buck you get is maybe tedious for some but its a crucial step to know the whereabouts of your money. This part of your journey of financial independence is your first encounter with the working of math in building wealth. To be always in profits and diligently saving each month so you can achieve your benchmark to further invest. Consider this as a boring game that has nothing to do with fun and pleasure but help you to achieve your goal and giving you the pure metrics of your hard work. In starting you will not love it but after few month when you will see the fruits of saving and living frugally in your bank account then this game starts to be more fun! You don't have to prepare excel sheet or ledger for yourself as there are many free apps on Android playstore that will ease your process of tracking. For eg- "Monito app" which I personally use to track my...

Frugality

5th April, 2020 8:45 a.m (IST) Frugality Frugality was not always a hot topic, at least not until about recent times. It just wasn't a topic popular among youth but nowadays with explosion in vast consumer choices and increase in people's awareness about money, it has now become a hot topic and also an important step in the process of financial independence. For some of you who don't know what frugality means, its the way of living or more precisely "living in economical way with a proper agenda of saving money in mind". Its linked with minimalism and sometimes people living frugal are even called "cheap". But there is nothing embarrassing about being frugal atleast if you know why you are doing it! As in previous blog post I've mentioned - How its important to save money and how it 's the first step in building long time wealth, and this frugality is the essential component of saving . It's hard to live in 40% of your income and ...

Money Games

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