7 common money mistakes which beginners make

Money management is not an easy task. For the inexperienced, and often for experienced ones too, it is not difficult to spend money. It is saving and investing – things that form backbone of good money management, that is difficult. Invariably, lot of people make some common money management mistakes. Over a period of time, few learn the lessons, some don’t and many don’t even realize that something is amiss. What are some common money management mistakes which several beginners make?

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10 tips to avoid impulse buying

Impulse buying is one of the major reasons why even seemingly well-earning people are unable to save money. The whole temptation of impulse buying is dependent upon instant gratification. Avoid chasing instant gratification and controlling impulse buying can be much easier. What are some tips to avoid impulse buying?

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10 signs that you are living beyond your means

Living beyond your means is usually one of the first signs indicating the worrisome nature of your long term finances. It can eventually lead to a downward spiral of debt and debt repayment. Yet it is not common. One of the many reasons for this is not even realizing that you are actually living beyond your means.What are some signs that you are living beyond your means?

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The financial independence mindset

There are many people who make lot of money and can be potentially financially independent in future, but they don’t. Conversely, there are many people who may not be making much money but can potentially be closer to financial independence in few years. They may or may not get there. But they can at least be on that path. What differentiates the both? Arguably it is the starting point – the mindset – the financial independence mindset.

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Are your investments really profitable?

We all want our investments to be profitable and deliver good returns. But how do we evaluate profits on investment? Is it a simple selling price minus cost price of the investment? Or is it not simple as it sounds? Is there a sure way to know if your investments are really profitable?

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3-point checklist before you begin investing

Investing right can be a great way to make and grow wealth. If done right, in long run, investing can help you achieve your financial goals and even financial independence. The earlier you start your investing journey, the better it is. It gives you much more time to let compounding work wonders for you! However, investing, while important, is not the only goal of your financial journey. Here is a small 3-point checklist that you should tick off before beginning your investment journey.

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How much term life insurance should you have?

For a novice, understanding life insurance can be like navigating a maze. It is often confusing to choose from the plethora of life insurance options that are available. Some “experts”/ salesmen say that you should buy endowment plan or money-back plans. Some say, go with plain vanilla term life insurance. How do you navigate this […]

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