Few Tips for me!!!

There are a few tips that we should learn rather I should learn to avoid getting bankrupt!!

1. Live a balanced life and avoid overspending

2. Don't buy things we don't need.

3. Don't buy Branded goods.

4. Don't buy excess Food, Cloths, Cosmetics, Footwear, electronics and Fashion accuracies just think before you buy.Tip: World still has a lot of growth ahead and the future holds immense opportunities for us. Let us make the most of it and save and invest it wisely instead of wasting our precious little on things we don't need.

5. Try to balance life with work (No one is happy to work in their professions).

6. Don't stress out yourself, after work try to do some extra activities like swimming, yoga, walking, running where you can divert your mind from stress. A thumb rule: Health is more important than money.

7. Try to understand each other (Wife and Husband) in financial matters and help each other.Tip: As soon as you get your monthly salary, set aside a fixed amount, usually 35 per cent, for insurance, savings and investments. You can then spend the rest.

8. Not all loans are bad. Loans that are 'need based' (home loans, education loans) can always find a place in your finances against those that are largely 'want based' (Credit cards, personal loans, car loans).

9. Borrow only if repayment is financially comfortable.

A thumb rule: Keep EMIs within 35 to 45 per cent of your monthly income.

10. Health is Wealth and Its Tax Free...so do take good care of it.