Personal Finance is more Personal than it is Finance

– By Meghashyam Sinkar

Every individual is unique in terms of its needs , goals , risk , upbringing , behaviour which makes their financial decisions idiosyncratic. 

Personal finance has nothing to do with anything outside your own finances. It has got everything to do with how you save, invest, earn, spend, allocate and insure.It is about 5% of economics and 95% of YOU .

If you aspire to be wealthy in the future, you must align your actions today to ensure that you do end up wealthy. It is nothing but aligning your present self with your future self . 

Certainly it is not a one time job.It is an ongoing process. 

To achieve individual’s mandatory, lifestyle and aspirational goals , one has to have proper personal financial planning . Again it will differ from individual to individual based on the financial position of an individual, cash inflows and outflows , asset & liabilities etc . 

Therefore , it is important not to follow others style of investment, financial decisions. Do what suits you and to your financial life .

Finally it is not about products, calculations and returns, it is about YOU.

Happy Investing !!!!!

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