There are many milestones of being an adult. Signing your own lease for the first time, being able to rent a car, having someone call you ma’am.
But being an adult also means being responsible for your own finances. Like many things, you can’t have a successful financial future if you don’t plan for it. The best way to do that? Create a budget.
Creating a budget can seem daunting, but it just requires a series of steps. See below for help on creating your first budget.
Track your expenses
Before you can start a budget full of limits, you need to know how much you’re spending right now. Take two or three months to spend normally and track your transactions in Moneyfrog.in.
Fixed expenses like rent, insurance and utilities will be easier to monitor than variable expenses, such as groceries, entertainment and travel, which will fluctuate month-to-month.
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Harshada Kadam
May 20, 2016
Financial Planningbudget, budget planning, budgeting, careers, college, debt, debt management, economy, education, Employment, financial management, financial planning, first budget, food, frugality, handling personal finance, making first budget, Money Management, personal finance, saving, savings, shopping, Student Loans, tips
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Harshada Kadam
October 18, 2015
Financial Planning, Infographicsguide to investing in NPS, infographics, infographics to Guide to Investing in the NPS, tips to invest into nps, Your Guide to Investing in the NPS
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Not having enough money to pay the bills is an issue we may face from time to time. Life is full of financial ups-and-downs, and after all, we’re all human.
Don’t beat yourself about the situation or get discouraged. Vow to take action. If you don’t make changes, things will stay the same. If you’re in a tough financial spot, here’s what to do when you can’t pay your bills on time, and tips on how to best handle the situation.
1. Don’t Hide From the Facts
Do you know why you can’t pay your bills? Did you overspend, have to make up for an emergency, or was it just human error? Don’t hide from the facts, but instead embrace them head-on. Not dealing with this financial mess can lead to more late fees, higher interest rates, additional interest charges, and even damage your credit report.
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Harshada Kadam
August 27, 2015
Financial Planningbudget planning, cash flow planning, planning bills and budget
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Harshada Kadam
August 21, 2015
Financial Planning, Infographicscareer opportunities, career opportunities infographic, child's education, education decision, education priorities
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If there’s one thing that all wealthy people have in common it’s this: They invest.
That’s because investing money is the smartest and most reliable way to grow it over the long term, after you have first built up your emergency savings (which never gets invested).
Investing in a Nutshell
Investing is putting your money in a financial vehicle that might enable it to grow more quickly than it would in a savings account.
While most of us think of “earning” as putting in hours of work and getting paid for that, investing essentially puts our money into a marketplace where companies and governments and other entities can use it to create a profit that will be returned to us. (At least that’s the hope—some investments do go bust, taking our money with them.)
Most commonly, people invest by buying financial assets like stocks, bonds, mutual funds and ETFs (and if you don’t know exactly what these are, don’t worry, we’ll describe them later). When we sell them, we hopefully make a profit by selling at a price higher than what we bought them for.
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Harshada Kadam
August 8, 2015
Financial Planningbonds, ETFs, investing, investment rules, Mutual Funds, online investing, stocks
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Harshada Kadam
August 5, 2015
Financial Planning, Infographicsfinancial instruments for investments, investment goals, women's money behaviour
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Even though consumers have been using online banking and mobile applications for years, the concept of online financial planners like Moneyfrog.in is still new. In comparison to a traditional face-to-face financial planning relationship, how do online financial planners work?
Online financial planners allow you to:
- Develop plans for your finances that are comprehensive enough to include every aspect of your life from buying new home, child education, insurance, long-term investment management, spending trends, and retirement.
- Analyse your debt, understand how debt management works, and develop a plan to pay down debt.
- Access finances at any time. You don’t need to make appointments with a financial planner, or schedule an office visit plus travel time.
- Analyse your financial situation and run scenarios to cover “what if” questions about your financial future. You can change your financial plan at no extra cost.
- Keep your information private. Unlike a traditional financial planner, no one else needs to see your personal information, and you can rest assured your information is stored securely.
- Run quick reports, and understand them easily.
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Manoj Chahar
July 26, 2015
Financial Planningfinancial advice, financial advisors, financial calculators, financial planners, financial planners in mumbai, financial planning, goal tracking, how financial planners work, mobile app, online financial planning, portfolio and asset tracking, risk analysis
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“I have opted for financial planning and wanted to invest in mutual funds” – when I told this to my mom; she was as concerned, as one feels towards a medical patient.
Now stop smiling there!
If it reminds you of a famous dialogue-“It happens only in India”, then you are wrong. It’s not just the case in India, it’s worldwide. People are afraid about investing in market either because of their bitter experiences or scarce knowledge.
My mom warned me to either take a money back insurance policy or open a bank FD account for all my needs. She said “it’s more than (more…)
Harshada Kadam
March 24, 2015
Financial Planningbeauty product, financial planning, moneyfrog, online financial planning
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Yes, very true, this is exactly what everyone thinks in India, whenever we hear the term “Financial Planning”.
Since the day I have started my venture in similar field and my interactions with my near & dear ones to promote same, reactions have been quite similar, i.e. they perceive my pitch as another advisor in town, who wants to sell investments (i.e. Insurance or Mutual Fund). And all most all of them have replied back (though without hurting my feelings), that they will call back once they have funds in hand… 😉
As a matter of fact, my own experience of last 15 years in capital market & my recent venture, where we have registered more than 1500 customers for Financial Planning, most of them or rather 99% of them, relate the term “Financial Planning” to “selling new investments”.
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Manoj Chahar
February 9, 2015
Financial Planningfinancial planning, Insurance, Mutual Funds, online financial planning, Stock Brokers
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We all get tempted at offers when we see discounts at stores, malls or even online websites and end up purchasing goods, which we may actually don’t require or even use in the near future. Whereas, we most likely will shrug off a genuine seller, who would be pitching for a product (with or without discount), which will actually be beneficial & useful to us.
Why do we behave like this?
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Manoj Chahar
February 2, 2015
Financial Planningdiscounts, free sale, offers, sale, sale offers, sales, save upto
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