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Holistic investment planners, financial planning Chennai, Private wealth management Chennai

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Four golden rules of money management

Four Golden Rules of Money Management

by Holistic | Filed Under: Investments

Personal finance is of important to all of us and we all need to know, understand and follow the Rules of Personal Finance to be financially successful in life. Many may feel that one could learn the rules by experimentation; however in my opinion it could prove very costly. We all need finances as far as we live, so it is best to know, understand and follow these rules to lead a financially healthy life.

a) Don’t You Work For Money…? Does Money Works For You?

“Every penny saved leads to a penny earned”, and I am sure we would never like to just depend on our salary for a lifetime. Similarly saving and investing money would mean that the earnings can be utilized for a better lifestyle and a comfortable retired life. It could also mean that we could retire early and do the things that we always wanted out of the profits of our investment.

This is not to suggest that we should not enjoy once in a while probably in a restaurant or to watch a movie. It only means that we need to use our common sense and look at few major expenses in the earlier month and look for ways to reduce it. One such expense could be personal debt or other unwanted expenses.

We may think that it is easier to pay off personal debt in easy monthly installments; however I would say that it is better to save money and then buy anything. Look out for gimmicks like 0% interest; it is mostly on those goods that are overpriced, so ask the retailer how much you would have to pay if you paid in full and you would be surprised to know you would be paying a much lower price.

b) Be selective and keep the company of those that care for personal finance:

It has been rightly said that we are influenced by the company we keep and this applies to your personal finance too. We need to keep the company of relatives, friends or co-workers who use their money and savings to make money and also to keep their finances in control. If they do not, then it is best to look for others who follow the rules of personal finance as their attitude could influence you too.

Our neighbors also play a role on whether you follow the rules of personal finance. Our neighbors influence the size of the house, cost of furniture and size of TV that we have. Having costly neighbors’ means we could go to a more amicable locality where they follow the rules of keeping finances in control and also to invest money to make more money. It is always best not to mix with those that have extremes of income and it is advisable to spend more time with those who are following the successful financial rules.

c) Make it a rule to keep finances under control:

None of us can enjoy become financially independent and enjoy a higher lifestyle just by being casual about personal finances rules; we need to keep finances in our control.

The best rule to personal finances means being prepared for financial contingencies. This means being prepared and taking life insurance, disability insurance, auto insurance and health insurance . Purchases of any item are also to be planned well in advance.

It is advisable that one makes a balance sheet for his family on an annual basis to judge how well one is financially progressing.

Keeping finances in control also means paying bills on time and your inability means that you should find someone trustworthy that could help. Financial trouble in most people’s life is caused by trauma like a health problem, an emotional problem like loss of a near and dear one or divorce or financial problem like losing a job, some unexpected expenses and cut in pay.

Being prepared for all these eventualities with sufficient emergency reserve will help you sail the boat safely in any climate.

d) The last rule is trying to accelerate all these rules for personal finance:

These first 3 rules can be fulfilled only by taking steps to fulfill and accelerate these rules. Savings can be increased by taking steps to advance and progress in one’s career that means fulfilling the first rule of making more savings to become financially independent and enjoy a better standard of life. One could increase the money one saves by lowering the amount one spends on few of the highest expenses. Next it is best to spend time with those that are financially shrewd and systematically building their wealth in their lifetime.

Surely all this could definitely bring about healthy personal finance planning.

If you are really interested in creating a healthy financial plan, then you can take advantage of our

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
aksaswadkar
aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
Lionel Faber
Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
Sridhar
Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
Google rating score: 4.4 of 5,
based on 61 reviews

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