Roadmap to Get cash-rich.

Money Saving Quote by Warren Buffet :

“Don’t save what is left after spending,

Spend what is left after saving”.

Financial Wisdom:

Work and have number of streams of passive income. The returns you get from this income should be used for regular bills and fees payments. Also be well aware and make hybrid investment portfolio. So you can use the return from your monthly SIP to run your own transportation and food expenses. Let the monthly investment be on compounded mode than linear. Try to use minimum possible from here on your restaurant and unwanted shopping bills. Chart projected expense trajectory. Track and align with it as the month cruises ahead.

Debt Traction:

Are you aware of the undisclosed expenses that such as annual fees, and unexpected deductions that the card will offer you regularly. It would probably come along as gift during end of year or New Year Surprise. get liquid rich

Payout Control:

Unchecked use may soon lead to cumulative buildup of interest carryover. Tendency to delay checking on it may lead to financial distress. Keep a credit card. but in its right place. Only when required. Uninstal the habit if you want to be liquid rich than card limit rich.

Delay Payment Charges:

Apart from merits offered, the DPC or delayed payment charges in some cases may shoot cumulative upto 40 percent if not tracked and captured on time.

Store Isolated:

Keep the credit card away in known area. Carry it only when there is no other go. Think it is of not much use and debit card or cash is all that has to be used. Let Credit card be the last possible option. A newly joined banking executive was offering me a new credit card with lounge access and no charges at all. They were selling card for promotion. During discussion, he told me many young people have salary of 1X and take credit of 5X.Coming back to my story is now that the executive did not turn up at all when I was ready with all documents but he did not turn up to process the credit card. It was me following up with him for processing instead of him. There was no call from him to update or a single courtesy revert. Wow, it was great.

Micros and Macros:



Substitute macros and micros. Note them down. Sort them out Let lean times weaken. Let plastic offers weaken. Strengthen your base. You can always interchange the micros to macros then.

Modulate risk level:

Do some mixed risk level investments in mutual funds by help of a know and experienced advisor.

Put your return expectation at post hibernation at good level of say 7 to 8 percent per annum at the minimum after a period of say 6 to 7 years.

Explore amongst number of banks where you can get maximum returns on guaranteed basis. With documentation that takes responsibility and carried the ratings as per relevant federal authorities. Here we are referring to the rate of interest on your fixed deposit instruments.

Rent than Own:

Renting or mortgaging than owning is a in-thing option of today. Read leading Bollywood veterans and current trendsetters say and advising people of all age to rent than buy costly branded clothes, and cars instead of shelling out hugely on explosive shelf costs pf garments. Same of mobiles and devices. Better to buy proven seconds and save well than tailgate and overspend.

Apps for Guidance:

Refer apps and select most suitable ones that suit your portfolio. These apps give spread of term deposits from a variety of banks and financial institutions, each trying to outdo one another. With ultimate benefit to the consumer. Being given a huge choice of variables to choose from.

Debit Card blues:

Muster courage to see the real scenario. See changing figures live as necessary expenses are made. Use debit card more frequently than credit card. Rather minimize its use. So you instal auto-regulation of your expenses every time your hand sinks in interiors of your wallet

Delay expenses:

Postpone most add-ons. Treat many last on bucket list as add-ons. Filter and more items from necessity to comfort zones. And comfort to luxury zones.

EMI downsize strategy:

Do your research. Near and zero-off On what which institution offers on most competitive mode. Start your project with the one that offers the most easily affordable EMI (Equated money instalment).Minimum down-payment charges. No real-time hidden charges.

Saying NO:

For many of us it is STRESS to say NO direct upfront. Ability to say NO is known to be one of the qualities of Successful people. Some people are too emotional and cannot say NO to what is not convincing. Learn to say NO politely and firmly. Everyone holds choice of hos or her own. How star execs say NO.

Go-for options:

Select tools such as low interest personal loans from simpler loan providers instead of credit cards. Here be doubly careful of their records, market reputation and establishment status. Be ready for surprises of last minute and unannounced deductions. Stay watchful of your spending bar raised on the card without your information. Tactically leads you to spend more liberally. Vital to be wary of high returns guaranteed. These trickle in initially and suddenly stop to appear in your account. All go missing, the advisors and the floaters.

Evade platinum rat-race:

Come down from the perch of a rooster class card to a medium or lower level one. You wont loose much. You will get more cautionary feeds by repeated follow-up on promoting outing chills and hoteling frills.

Learn to Listen:

Keep aside multi-task and listen well when receiving promotional marketing calls. Enlist experience trigger notes. Uncover areas untouched .Look for the unspoken parts. Avoid getting mellowed by accents and slangs. Throw back quick questions during upgrade persuasion calls. Make lucrative offer in return.

Conclusion:

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