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Monday 23 November 2015

10 Best Tips To Invest, Spend And Save Better : 23 Nov 2015

How many times have you been told to 'spend wisely' or 'save more'? Most of the advice we get are almost always vague and don't delve into the how, where and how much. Planning your finances is important and it doesn't end at having a heavy bank balance-investing your money in the market is equally essential. While it may not give immediate results, patient and disciplined investment, experts say, definitely yields fruitful returns. Here's a list of advice from financial experts around the world on how to invest, spend and save better.Planning your finances is important and it doesn't end at having a heavy bank balance. Investing your money in the market is equally essential. KEEP THINGS SIMPLE, DON'T FALL FOR QUICK PROFITS: According to legendary investor Warren Buffett, one must invest in places one knows best. He was quoted as saying, "If you don't invest in things you know, you're just gambling." Elaborating on the same, in the 2014 letter to his shareholders, he had said, "You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognise your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences." To those lured by quick gains, this is what Buffett has to say, "When promised with quick profits, respond with a quick 'no'." THE 'RICH AND POOR' PHILOSOPHY: A popular perception in financial planning is that we need to save a little after all the spending and invest that little saving. Robert Kiyosaki, an American author of the book Rich Dad, Poor Dad, believes otherwise. "The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left," he says. THE FRUGALITY APPROACH: When overcome with guilt at the end of the month for spending too much on that watch you loved or the new iPhone you absolutely had to pocket, you make idealistic promises to cut down spending on 'frivolous' things. Is it the right approach though? Can we realistically achieve equilibrium by taking drastic steps? Ramit Sethi, the author of the popular book I Will Teach You to Be Rich, proposes Planning your finances is important and it doesn't end at having a heavy bank balance-investing your money in the market is equally essential his idea of frugality. "Frugality isn't about cutting your spending on everything. That approach wouldn't last two days. Frugality, quite simply, is about choosing the things you love enough to spend extravagantly on and then cutting costs mercilessly on the things you don't love." LIMIT YOUR BORROWING: Credit cards can be alluring. Borrowing money that is unaffordable now somehow becomes affordable in a couple of months. Here's what Buffett says about the practice of borrowing: I've seen more people fail because of liquor and leverage-leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. MAKE A PLAN: We spend a lot in a certain month, curb spending in the next to make up for it, and end up in a vicious cycle of debt and little savings. Make a simple expenditure plan as well as an investment plan without delay. As late American-born British stock investor Sir John Templeton once said, "The four most expensive words in the English language are 'This time it's different'." Closer home, some of our investment gurus have words of caution and advice for those stepping in or already knee deep in the markets. They all seem to impart one common advice: 'Be disciplined in your investments'. INVEST FOR THE LONG TERM: You must have a long-term view and invest in an asset class that thrives in a period of the market upturn. Well-known certified financial planner Surya Bhatia lives by this philosophy. "Look at equity as an asset class of your portfolio. Yes, you do equities, the volatility goes hand in hand and the risk is there; that's why we always talk about long term. Look at the longevity of asset classes and create a portfolio which is meant to be invested for the long term. SIPS TAKE AWAY THE HUMAN BIAS: A systematic investment plan (SIP) is something experts harp on. It is believed to be a disciplined form of investment.
         This is how he defines a good financial plan: Assets comprise all your investment and liabilities. "A successful plan is one which ensures that you have the required assets at the required time to meet a goal, and that's why asset allocation is very important. Classifying goals into critical and discretionary helps one make a sharper plan." DO YOUR HOMEWORK: While there are financial advisers to fall back on, it is easy to gather knowledge of your own in this Internet age. Before you invest, find out about the industry you're investing in, the company you want to buy stocks from and the general market conditions at the time of investing. THE ANSWER LIES WITH YOU: As an extension of the previous point, it is important to note that nobody can truly understand your goals and financial needs. If the question 'How should I pick the right scheme?' ever occurs to you, the answer is simple: it lies with you.


Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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