Things to do in 2013 to improve your financial status

I really wonder sometimes why is it that we learn the importance of finance much later in our life, why is that we learn it the hard way! I am saying ‘WE’ cause I too am learning the importance of finance the hard way: p

This blog is dedicated to helping me and my readers alike to improve the Finance aspect of our lives practically. Much of the content below is from my own learning as well as expertise of being professionally employed as a financial writer with a reputed broking firm.

Guys I am currently 29 and going to be 30 this October 2013 and believe me the below pointers that I am writing are all derived from really hard experience, the purpose of the pointers is to spark a conscious thought among all of you to refine and better your finance management.



  1. Plugging the daily leaking gaps in your wallet.

Apologies for the ironic caption, but I mean it we all indulge in activities that over a period of time become unconscious habits like for e.g. If you some, you didn’t just become a habitual smoker today, u picked it up much earlier as a one-time activity and then it just stuck.

I don’t expect you to stop smoking over night, but probably can shell a little less more every day, even if you buy one cigarette less a day it will make a big difference to your health and of course your wallet in the long run.


  1. Review your investments.

Having been a financial writer for more than year, one of the most cardinal rules I learnt was never to invest and forget. Please understand what you have invested is your hard earned money, probably your financial advisor has suggested you to opt for an automated debit from your account, but have you kept track of where and for whom is it getting debited too?. And consider your wallet as your account. Also try and understand whether your investments are growing towards your desired goal for your investments.

  1. Let money work hard for you.

Albert Einstein said the 8th greatest power in the world is the power of compounding. And believe me it can really work well if you direct it towards making money from money. You really should give a little bit of deep thought of whether your money is working hard to make money for you, did you know that if your savings are lying idle in your savings account your money is slowly but surely getting eroded off by the power of inflation which is hovering around 8%  while the bank is giving you returns of just 4%, so guys wake up and relocate to other prudent areas where it could be vice versa, a safer option could be a fixed deposit with a lock in period of a year and believe me it would yield much higher benefits.

  1. Read at least 2 financial books.

Reading at least two financial books this year and will aid in empowering you to make better financial decisions. Books by famed author Robert T. Kiyosaki would be a good way to start, his book “Rich dad poor Dad” and a “Guide to Investing” are a must read for anyone who is seeking to refine the financial decisions he or she has been making. Another good book for Indian readers that I would recommend is “Everything you wanted to know about Investing in Difficult time” by Deepa Venkatraraghvan.

I am keeping it just short just 4 pointers in this blog, depending on visitor participation in the thread that follows; I will keep posting on topics of user interest. Do keep reading and spread the good word of financial literacy.

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