Money Management: It’s More Important than Pulling Down a Big Paycheck

Have you ever come across a friend or a relative who irrespective of a satisfactory paycheck keeps the home running excellently? Apart from maintaining a tidy abode he/she have always been able to afford for the small luxuries in life, if not at once but over a time period.

Finance investment companies in India is of the view that you don’t have to be rich, but a good finance manager who understands that creating good money management habits help one to create wealth than it does with pulling down a big paycheck!

Here are the five basic points to start with:

• Pay with cash
• Buy only what I need
• Eat at home
• Pay all the bills on time
• Don’t spend without a budget

Track Every Penny:

You need to track every penny says finance investment companies in India. Write down every expense that occurs in a month, trace where most of your money is going. The record of expenses made by you over a month will reflect if you’re going wrong anywhere. And, if your expense chart is not helping you make some savings you definitely need to change the way of doing it.

Dining Out Regularly:

Having a dainty dinner often really lights up the mood. But, spending regularly on dining out will cost you certain amount of money every week. If you save that money it would make a good sum which you could invest and earn good rate of interest every year. However, it does not mean that you've to be a complete homebody. You can plan a get-together with your friends over a potluck lunch or dinner/ or go for dining out once in a while. By following these smart ways you will be able to create some wealth as well as lighten your mood from time to time.

Offer a Hand Up:

Spending a lot of money in the name of helping a needy relative or a friend is really a good thing to do. But, if you are doing that by going beyond your capacities then you’re bursting your budget. It’s always better to help people in financial need by guiding them towards ways of earning more income rather than giving charity from time to time.

Creating Multiple Money Streams:

As one of the intelligent money quote goes “Consume less and own more.” Finance Investment Companies in India recommends creating at least five different income streams. That way, if one income stream dries up, you’ll always have another to rely upon.

Dare to say “No” When it’s not Required:

Just as a good CEO responds to alarming situations in a company, you need to behave like a CEO sometimes. If your budget is stubbornly in the red, make a few layoffs. Review every bill; look for miscellaneous fees, overspending, recurring unwanted payments for goods and services that you don’t want.  Adopting a stringent approach will not only help you streamline your expenses in a logical order, but would also contribute greatly to wealth creation say Finance Investment Companies in India, Delhi.

Getting Rich: Is it promoting the Negative Side in You

Money is of course one of the most essential factors to decide the quality of life that you live.  And, whether it is about the rich or the poor, one thing is certain that money is always on everyone’s mind. According to researches done by psychologists and finance investment companies in India money power elicits different reaction from different individuals depending on their personality.  Most of the findings point to the fact that money brings out the negative behavior in people rather than the positive side.

Money brings luxury, pomp and power. Which is why it’s hard to control the power of money and the general tendency is very apparent - more money you have the more focused on yourself you become, and less-sensitive to the welfare of the people around you. However, this line of thought can’t be generalized; it’s only one side of the coin. According to finance investment companies in India wealth is a resource that comes with certain psychological tendencies. You need to be your own monitor here if you want to control the power of wealth rather than the power of wealth controlling you. If you find that the steadily increasing wealth is leading to a decrease in compassion and kindness and generosity, then you need to take it as an alarm and find ways to mitigate that.

This negative side of one's personality due to increasing wealth happens only because people fail to notice the changes that creep in their behaviour stealthily. When you keep yourself aware the slowly creeping negative changes, you’re sure to control the power of money in the best way ever.

Finance investment companies in India say that don’t let the “most sought after” wealth make you turn inward. Shake yourself up psychologically, reconnect with the needs of others and let the power of money leave the environment and people around you happier than ever!

Money Habits: Why You Should Always Tip in Cash in Restaurants

Whenever you are there to have a dainty meal in your favorite restaurant, please don’t forget to leave a tip. According to finance investment companies in Delhi, India it’s no casual thing but one of the basic guideline for gratuity.

Many people try to tip the server with a card because they want to get reimbursed for the tip, in which case it’s essential to tip on a card so there’s a record of the expenditure. But the question that still floats is what’s best for the server? According to finance investment companies, asking anybody in the service industry would clear the fact that cash is preferred more than credit cards when it comes to giving a tip. One can take cash tips home at the end of a shift and can use immediately for groceries and other living expenses. Tips paid via credit card, on the other hand, are usually added into the server’s pay check which is handed out to him every other week. So, tip given in cash is much better than credit card payment.

In addition to this, another reason for not advocating the use of credit cards in paying the tips is that when paid via credit card, it goes into the servers’ pay checks, which means it, goes through management first. Out of which the managers are known to take small credit fees out of the servers’ tips. The servers therefore are losing a part of their tip to the restaurant managers or credit card authorities in the name of processing fees.

Considering the digital age, the mobile card readers and digital payment technologies, it’s becoming increasingly rare to carry cash around. But, if you want to best thank the wait staff for the services offered by them, it’s is recommendable to carry some amount of cash to cover the tip when dining out.

Credit Cards: Always Keep Opting for the New Ones

According to finance investment companies in Delhi, India, in the present age credit cards are tools that consumer use to improve their financial life. However, tools are required to be replaced from time to time in order to ensure that you enjoy the best of the facilities in the form of newly added credit cards.

Research say that even in the richer countries, more than 25 million borrowers are known not to have jettisoned their favorite credit cards for at least ten years. 

While another 20 million have never replaced it. However, the truth is that clinging on to your credit cards will not pay in any way. This is because credit cards are designed to entice new customers with lucrative sign-up bonuses and better opportunities for accumulating points, rewards and cash back. Hence, if you sit comfy and keep sticking with your same old card for years, then you are sure to miss out on more money from your pocket and better offerings.

Reason for Sticking to Old Credit Cards:

Most of the borrowers have one or two legitimate reason for not having changed their favorite credit cards for more than a decade. They simply do not want to cancel their old credit cards because they’re afraid of hurting their credit scores according to finance investment companies in Delhi, India. Although this is a legitimate reason, it should not stop you from getting new credit cards. So, the smart move would be stop using your present credit card for any purchases. Then, bring in the new card with better rewards and bonuses as you go to payment method.

Meanwhile, some of the people from this group avoid getting a new credit card due to lingering balance. If this is the case with you, it would be really unwise to open a card if you can’t pay off your balance every month. The interest payments will vitiate any rewards you’ll accrue.

Making Money: 9 Ways Bill Gates Made His Fortune

Talk of the richest entrepreneurs of the world and the name Bill Gates instantly catches the fascination of everyone. Bill Gates transformed from being a little boy playing with computers into richest person in the world with a net worth of $87.4 billion. But how did he do it? Was it his Havard or relentless passion that helped Gates becomes a successful and rich entrepreneur? According to finance investment companies in Delhi, India there were certain things that helped him build his fortune.

Here are the 9 ways Gates was able to build his fortune from the level zero -

Semi-Educated in Havard:

Gates dropped out from Havard shortly after he was admitted. At Havard, he studied computers and  was also fascinated to learn other subjects as well. So much was he inspired by the standard of education at Havard that he attributes his time at Havard to his success. The thirst for knowledge and the willingness to always improve and learn contributed to the growth of his eventual entrepreneurship.

Supportive Parents:

Bill Gates always looked up to his parents as his role models. Both his parents were highly active and would come home and told inspirational stories from the world of business/law/politics and other charitable activities. As per a write up published in New York Times, it was his mother who helped him get the contract that led to the lucrative relationship with IBM for his fledging Microsoft Corporation.

The Habit of Reading:

Once Bill Gates’ father disclosed that right from his childhood Bill nourished the habit of reading – encyclopedias, science fiction, short stories and more. Throughout his life Gates have maintained his love of reading. He even has his own blog where he frequently recommends books to his readers. Reading most likely contributed to this multi-billionaire’s high net worth, providing him the knowledge he would need to become a successful & rich businessman.

Choosing a Good Business Partner:

Being one of the most successful entrepreneurs, it’s obvious that Gates has made many brilliant business decisions in his lifetime. However, according to finance investment companies in Delhi, India the best decision that he has ever made is deciding to go into partnership with Paul Allen, his childhood friend. Although these two guys are no longer together, it was Allen’s partnership that helped him co-found Microsoft.

Infallible Self Confidence:

Gates attended an elite private school where he had a hands-on experience on computers when he was in the 7^th grade. His experience at the school is something that gave him the self confidence to go ahead and do the impossible. He and his friend Allen started a company with the vision that soon computers and software was going to next big thing in the future when nobody else agreed with them.

Maintaining an Emergency Fund for Microsoft:

Gates was always driven by his instinct to keep a large emergency fund for Microsoft, which would keep the business afloat even if it encountered financial obstacles. Although it was a conservative approach, it worked well for him and Microsoft was never reported to be in bankruptcy. The ability to be creative, work with his team and have a big enough cash cushion to continuously grow and try new things contributed greatly to Microsoft’s success and eventually Gates’ substantial net worth.

Getting 7 Hours of Sleep:

Gates is of the view that he is just unable to think creatively without sleeping for 7-8 hours every day. He says that without sleeping he may be able to make a business tour, make a speech or do parts of his job that way. But, he can never think productively for his business without having sufficient amount of sleep.

Having a Good Money Manager:

According to finance investment companies, good financial status of Bill Gates can also be attributed to his money manager. In 2014, he hired Larson as his money manager and since then Larson had diversified Gates’ money and Gates’ net worth to nearly 18 times higher than what it was before.

He Remained Passionate About His Ideas:

Bill Gates always loved his job. He fell in love with computers as a child and dedicated his entire life in building one of the most successful businesses in the world. And decades later, he still loves his work and gives back. Bill Gates feels that competition, breakthroughs, and research, makes his field the most interesting one.

3 Ways to Living Well While Spending Less

It may be very stunning, but most of the billionaires don’t live in mansions or drive a Bentley. According to finance investment companies in Delhi, India, some of the members of the 7 figure club prefer to adopt a very modest way of living. For example Warren Buffet still lives in his old Omaha home he bought for $ 31,500 in 1958 and Stanford Professor David Cheriton, a billionaire is known to cut his own hair.

You will be surprised to know all the most of these successful millionaires attribute their wealth to making smart investments and saving early. Nevertheless, this doesn't mean that you have to live a totally ascetic life. You can gradually improve your standard of living while keeping the pace with your rising income.  Here’s a list of thing to follow to adopt the way of living well while spending less.

Save Half of What You Raise:

A sure fire way of speeding your way to seven-figure net worth is to save half of all the raises and bonuses you get. If you start following this rule early in your life, you can get to nearly $ 2 million only by using this strategy.

Live Large, While Saving Big:

The standard rule of thumb for how much house you can afford is 28% of gross monthly income. But, if you adopt the habit of cutting down this range by 2% - 3% you would be able to live in a good house and at the same time you could save decently to add up to your retirement savings.

Making the Most of What You Spend:

One way of living well while spending less is buying the best of the assets so that they can provide you with long-term benefits and maximize the satisfaction you derive from the purchases you do make. According to finance investment companies in Delhi, India this is a way through which you’ll be saved from the unnecessary expenses that would have occurred otherwise.  

Money Secrets: Are You Keeping One from Your Better Half

Did you know that there is a term called “Financial Infidelity”? Yes, financial infidelity means hiding your money habits, bank accounts or credit card bills from your significant other. According to finance investment companies in Delhi, India when it comes to love and money, there needs to be a perfect harmony between couples. And, the prospect of harmony doesn't always depend on what is disclosed, it also hinges on what is not.

If you are unable to know how much money your spouse is making, his/her debts or expenses then there is every chance that you are facing some sort of financial infidelity. While physical infidelity may involve a surreptitious affair with a co-worker, financial infidelity involves hiding bank accounts or credit card bills from your partner. You must know that it’s one of the biggest things that can impact relationship. So, if you are unaware of your partner’s income, debt or expenses, then you are overlooking a big fluttering red flag. Here are a few easy tips from investment companies in Delhi, India to avoid knowingly or unknowingly falling prey to financial infidelity.

Exchange Numbers:

Well, here it is not about exchanging phone numbers. It’s about sharing credit card reports, net-worth statements with your partner not only before marriage but before living together, as well.  If there are worrisome signs such as late payments, wasted-out cards or towering debts, come forward and take the charge to turn the course of things towards a better way.

Ground Rules:

According to research more than 41% of people have spent huge amount of money without tipping off their partner. If reckless spending happens on both sides, you are planting the seeds of possible financial trouble down the line. So, set a level of expense, beyond which you need to discuss or clear it with your beloved. This will not only help foster mutual trust and act as a natural barrier to unnecessary purchases you may regret later.

Get It in Writing:

If you and your partner tend to fall back into repeating the financial mistakes, arrange a written note. The process of writing down your expectations will reveal all the serious money disconnects. Finance investment companies in Delhi, India are of the view that the earlier you start on this the better. That does not mean shaming or scratching off lower-income partners, by the way. After all, few spouses make exactly the same amount of money. It just means acknowledging each other’s financial realities, and calibrating your expectations accordingly.

Wealthy People: 4 Distinctive Habits You Must Start Following Today

According to Finance Investment Companies in Delhi, India, in the present day, economic inequality is the matter of discussion everywhere. Many people go as far as cursing the wealthy for having unfair advantage. This concept may resonate very well among some people, but the fact is that there is no “unfair advantage.” It is just that wealthy people follow a couple of daily habits that distinguishes the millionaires from the non-millionaires.

Wealthy people think that earning money is even more important. Common people are more concerned with whatever they earn and are able to save. So, millionaires reject the nickel-and-dime thinking of the masses and focus their mental energy in creating a fortune from their billion dollars.  Here are some other millionaires habits that you would find extremely surprising and worth following.

Wake Up Early:

Finance Investment Companies in Delhi, India report that researchers all over the world found that wealthy people wake up three hours before work, so that they can use that time to complete various tasks and also avoid getting late to work.

Have a to-do list and stick to it: 

Wealthy people understand the loss generated by delayed tasks. This is why they never fail to maintain a to-do list. Even if there are only a few items on that list, they make it a point to complete each task before the end of the day.

Take care of your health: 

“Health is Wealth” somebody said it rightly. Without a good health it is impossible to achieve anything great in life. Wealthy people exercise daily, watch what they eat and don’t indulge in alcohol very often.

Manage your time: 

Wealthy people don’t waste a minute of their day. They’re always doing something to better themselves or to learn something.

Lack of Money: Alter the Habit of Living on Pay-Check to Pay-Check

Insufficiency of money at the end of the month is a problem that almost all of us face. However, the worst condition is of those who live pay-check to pay-check and fail to create a backup system. If you’re one among them, every month you receive a paycheck and that paycheck is gone before you know it. You have not managed to save a penny, and it takes all you can earn just to keep from sliding further into debt. So, how do you break this cycle and stop living from paycheck to paycheck?

According to finance investment companies in Delhi, India saving some money every month and breaking the vicious cycle of living from paycheck to paycheck is very easy. By controlling your spending habit you can create a sound financial backup system in a jiffy. Here are some suggested steps to help you initiate a savings program and achieve fiscal freedom.

Change Your Mindset –

Make savings a priority; otherwise you’ll never be able to quit your obligation of living from paycheck to paycheck.

Track Expenses –

Do you know how you spent all your money? Make it a habit, write down all your expenses in a notebook, or find an app to do the same for you. Include all the trivial as well as major expenses that you make during the month. At the end of the month, total and categorize the expenses to find out where the majority of your money is going.  

Prioritize Your Spending –

Indentify “needs” vs “wants”, learn to isolate the necessary spending from your other purchases. How many of your major expenses fall into the wants category? Take a closer look at your needs category and see if some of them are actually wants. For example, do you really “need” to eat out once a week? Exclude anything that doesn’t fall into the wants category and make it a rule that you concentrate your spending only for the needs. Once you start with the cost cutting, you will see that you will have a satisfactory amount with you to put into your savings account.

Reduce Credit –

Finance Investment Companies in Delhi, India says that a long-term key to controlling unwanted expenses is by slowing credit card use. Never over load can your credit card with more expenses than you pay every month. Along with this you must also remember not to cancel your credit account as this will hurt your credit rating.

Look for Savings Opportunities –

You might have never cared for these before, but considering coupons, restaurant offers, shopping deals contributes miraculously to the overall mindset of savings, even if the savings are small. Thus, always make savings your top priority – do not buy things that you do not need just because they are on sale.

Look for Extra Income –

Consider part-time jobs or selling unwanted items as a way to cut down your debts and the corresponding interest. Between the spending-saving duos, taking care of the spending part of the equation is of utmost importance, or every month your savings are gone in an instant.

These are not easy steps, but they are necessary ones in order to get rid of living from paycheck to paycheck. However, as we mentioned, the first step is the most important. So, all that you need to do is consider “saving “as your top priority. Finance Investment Companies in Delhi, India is of the view that changing your priority will not only make you financially strong, but also leave you with a good amount of money as savings.

Gold Prices: Worry less as it’s off to a Strong Start in 2016

Although Gold prices haven’t really performed so far in 2015, it’s expected to perform really good in 2016. According to Finance Investment Companies in Delhi, if sources are to be believed, the yellow metal is going to present a great opportunity for the investors in the days to come. 2015 might be a little bumpy, but the gold price forecast for 2016 and onwards looks very optimistic.

Price of Gold This Year:

The price of gold has jumped to 6% this year, making it the best performing commodity of 2016. At $ 1,127 an ounce, is doing pretty well in comparison to its six-year low of $ 1,051.60 an ounce. Gold exchange-traded funds also are on the rise too, growing at their fastest rate in over a year.

Reaction of the Masses:

Generally people flock to gold when they think there are tough economic times on the horizon. So, it’s no surprise that the precious metal’s recent rise has corresponded with the stock market’s slide. In addition to this falling oil prices and a slowdown in China have compounded fears about the economy. But, gold have never historically produced the returns that stocks or bonds have over the long term. The yellow metal had already lost steam in 2015 when the Federal Reserve decided to raise interest rates for the first time in almost a decade, lessening fears of inflation.

 

According to the Finance Investment Companies in Delhi, India due to uncertainty in the global economy, many investors are now betting that the Fed will hold off on its plan to raise interest rates four times. However, in the case of interest rates not raising can of course cause gold prices to take a big dive.

 

The 5 Richest Women of the Modern Times

According to finance investment companies in Delhi, India, when it comes to world’s richest woman people tend to assume that they these women either inherited it from their parents or married in to it. Well, definitely most of them received a massive head start in their life by being born to rich parents, but they took the fortune they inherited to the next level by working hard with what they had, and making it grow in to even more. If you go through their history, you would realize that these are the overly rich kids who decided to be disciplined and work hard, rather than reducing the fortune on unproductive pleasure time.

The finance investment companies in Delhi, India are of the opinion that the names in the list of richest woman are even more powerful than the leaders of their own countries. This is so because their bank accounts can actually buy them a country to their own. Here’s a list of five of the richest women in the world today which proves that females can play better than the big boys sitting on top of the corporate ladder.

Liliane Bettencourt: Peak Wealth/Global GDP, 0.055%

If you’ve ever bought skin vitalizing cream at the bodyshop or applied Maybelline lipstick before leaving the house, you have contributed to the fortune of this L’Oreal heiress, whose wealth peaked at $40.7 billion in 2015. Liliane Bettencourt have retired now, but she‘s now a principal shareholder in the cosmetics company founded by her father in 1907. Under her supervision, L’Oreal also acquired other brands like Lancome in 1964, as well as blockbuster products like the fragrance “Polo” by Ralph Lauren in 1985.

Yang Huiyan: Peak Wealth/Global GDP 0.025%

Although the business world was hit very badly by recession in 2007, but some of the luckiest entrepreneurs were very positively influenced by it as Yang Huiyan. This Chinese heiress started off with a $ 16.2 billion fortune from her father – Yang Guoqiang, founder of property developer Country Garden. After the financial crisis, her net worth plummeted and now the net worth of her business is $5.2 billion.

Susanne Klatten: Peak Wealth/Global GDP: 0.024%

She is Germany’s richest woman and built most of her $ 17.4 billion fortune from one of country’s most lucrative brands – BMW. Klatten inherited a 12.6% stake in the luxury auto brand from her late father, Herbert Quandt. Apart from this Klatten also invests in multiple business ventures.

 

Charlene de Carvalho-Heineken: Peak Wealth/Global GDP: 0.017%

Charlene De Carvalho is the only child of Freddy Heineken, who served as CEO of the world’s third largest brewer from 1971 to 1989. Without any formal education this Dutch brewery tycoon falls in the list of world’s richest woman by inheriting her 25% stake in Heineken International at the time of her father’s death.

Anne Cox Chambers Peak Wealth/Global GDP: 0.021%

Cox Chambers was a media mogul, this Georgia resident’s fortune comes from Cox Enterprises that was owned by her father. Cox Enterprises owns news outlets such as the Atlanta Journal – Constitution and the Palm Beach Post. But, most of its revenue comes from its telecommunications division, holding one of the nation’s largest cable television providers. However, in November 2015, the now-96-year-old businesswoman stepped down from the board, distributing her stake – that amounted to a fortune of $ 15.3 billion.