We all know who Warren Buffett is, and that he is one of the richest people on our planet. However, he did not become rich. It started with one thought: ‘I always knew I was going to be rich. I don’t think I ever doubted it for a minute’ He always knew he would become rich, even when he did not have money to meet monthly expenses. And he became rich, simply because he believed it very strongly. Unwavering Belief Everyone leads a normal life, by working few hours a day, enjoying their weekends, and hating their lives. However, few have ‘crazy’ ideas in mind which they believe in. They strive it happen; challenge themselves and other; take the road less traveled, and follow through till the end. This system works similar to a car. If you don’t have gas in your car, it wouldn’t  [...] 

Life after college can be quite challenging with new job to manage and personal finance to handle. Not every student might have worked during their school life, getting less exposure to managing money. Main expenses during college life were food, entertainment, and perhaps, temporary shelter. However, life after college wouldn’t be so simple and entertaining. If you spend like you used to in college, life would be difficult. Here are some tips that can help you take care of your finances after college. Don’t Purchase a New Car Most graduates want to reward themselves for all the hard work they had done in school. And the reward is new car. However, unless you can pay for it in full, don’t purchase. If you had a car in college, use the same one for a while, until you save some money for  [...] 

$1,000 is not a small amount. If you have saved it, or you have received it as your birthday check, don’t let it simply go waste. Instead, spend it in a wise manner. Here are few things you can do with your $1,000. Strengthen Your Emergency Fund Dont fret if you dont have an emergency fund. You have a great opportunity to start with $1,000. if you already have it, add this amount to your fund. The best part about emergency fund is they can be used any time, any where during emergencies. You don’t have to liquidate it like other investments. Hence, having such a fund should be your priority. Consult a Financial Planner You can skip this step if your finances are in place. However, if you have accumulated enormous debt, and don’t know how to repay them, consult a financial consultant,  [...] 

Even if you have the highest paying job in the world, you can be under debt due to your habits. Your approach, your habits can make your rich (or make you poor). Hence, it’s important to pay attention to them, and change them, if necessary. Habit 1: Working For Money Don’t expect money to come to you, even if you have bought all the lottery tickets. To earn money you need to work. If you don’t have an intention to earn money from your work, you will end up working for charity. Work hard, earn more, be proud to be rich. Habit 2: Spend It The more you spend the more you want to spend. Hence, you work more and earn more to spend more. That’s life. You cannot sit idle and watch TV. There are many things you can do with money: buy new pair of shoes and clothes, go out with  [...] 

1.    I want to generate passive income That’s probably a very good idea. But until you don’t act on it, it would only be an idea. Besides, if you have a closer look, you will realize, more than passive income, you can earn money through your active income (current job) simply by sharpening your skills. Having a passive income is a good way to earn extra money. However, not every idea can help you earn $500 per day. But job is a place where you can get significant hike. So, work on your skills instead of nurturing some passive ideas. 2.    I can save more money, if I try a bit harder You can hear a similar statement by an obese person. They know they can reduce weight by consuming less calories per day, but they aren’t ready to reduce it. Besides, simply trying harder  [...] 

No, I wouldn’t make you walk all the way to your workplace, nor I would ask you to give up on your favorite TV show. This list of 10 ways to save money contains some simple and easy strategies to pocket few bucks every month. Let’s have a look at them. 1.    Don’t Eat Out Often If both the spouses are working, this is probably a difficult task. They can start with cooking food at home once a week. 2.    Take Lunch at Work Again, you don’t have to do it everyday. Carry your lunch 2-3 times a week. For the remaining days, join your colleagues. 3.    Limit Shopping I promised I wouldn’t deprive you of anything. But you don’t really use every thing you buy. So why do you buy it in the first place? 4.    Buy in Bulk Of course you cannot do this every time you go out to buy  [...] 

In my previous articles I had mentioned the importance of reading personal finance tips regularly. It keeps you motivated. Although personal finance blog is a great tool to access such information, it may sometimes be misleading as not all blogs are updated by professional. Therefore, I would suggest you to get some personal finance books, written by some of the great financial experts of our planet. Most of the knowledge I have gained over time, is through reading these books. They are a great source of knowledge and it keeps you motivated, always. I have read thousands of such books and have hundreds in my shelf. I wouldn’t, however, ask you to read them all. But there are few you shouldn’t miss, if you wish to take charge of you finances and do it efficiently. Here is a list of ten best  [...] 

Money is like lifeblood for people today. Think about it for a while. Is it possible to live without it? It’s impossible. Chaos and disorganization will takeover, and world would be in a mess. We all know the significance of money in our lives, yet we are too careless about it. I have seen most people start to focus on their finances only when they are left with little of it. It has now become a norm. Although cash is an important element of our life today, cash in form of credit is given more importance. This is because credit can be availed easily than earning cash. Isn’t it? However, I have a better plan. Just manage your personal finance properly. But for most, this is one of the dreaded tasks of their lives. Even the ones with lots of money owe some or the other loan. They opt to live  [...] 

Most of us want to be rich and we want it quick. However, had it been so easy, there would have been no poverty in the world. We all would have had our own mansions in the heart of the city, with a large pool, a golf course, and lots of cars. Though I cannot promise all these things, there are few ways to get rich quick. Inheritance You don’t really have to do anything except being born in a super-rich family like Bill Gates or Warren Buffett. You will live like a rich brat during your teens. And as soon as your adults pass away, you are the king. Think about it. You get millions of dollars overnight. All you have to do is pay inheritance tax and forget about frugal living, IRA limits, and blah, blah, blah. Marriage I know it’s quite difficult for all of us to inherit such a huge amount.  [...] 

Many people have a good job, earn a stable income, and are quite satisfied with their personal finances. They argue about the futility of having an additional source of income. There are, however, many other benefits than just earning extra dollars. Let’s have a quick look at few of them. Retirement planning By saving few hundred dollars every year, we pretend to believe we have a strong financial back-up for our retirement. However, considering inflation, increasing necessities, and no income sources, we would definitely need more than what we are spending now. Let’s say, you current expense for the year is $50,000. So, after your retire, you would need more than $50,000 per year. We cannot predict the number of years we would live. People, however, plan for at least 20 years after retirement.  [...]