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A walk towards financial freedom!
New Year is that time when people challenge themselves with resolutions to grow for better. However, walking towards fulfilling New Year’s resolutions can be really tacky if not focused or committed to. It’s best to take small steps towards achieving the goals but the most important thing is to stick around with those resolutions.One resolution that we all must commit to is that of achieving financial freedom. Just imagine a scenario where instead of working for money, money starts working for you? Exciting, isn’t it? Better still, at WeCare, we assure you that this is an achievable goal with these simple steps:1) Know Your GoalsLike any journey, the road to financial freedom will be faster and smoother if only we know our ultimate goals. Financial freedom needs appropriate planning. Once you know your destination, the road can be decided upon accordingly. There is no dearth of investment options that will help you access the power of growing your money but you can not choose wisely unless your goal-setting is clear. Be it long term or short term, fixing your financial goals is the first step.2) Study the marketKnowledge and awareness never hurts anyone. In order to reach a point where your money grows without much of your attention, it is integral to understand the market scenario. The sooner you study the market, along your financial advisor, the closer you walk towards achieving financial freedom. Not only will this help you predict next steps but it will also help your understanding of companies and their potential better.3) Right timingTiming is everything! Investing the right amount at the right time in the right tool is the key to access financial freedom. You just can not ignore the importance of correct timing. It can help you save a lot of money as well as help you avail good deals. Remember, financial freedom is a process that requires patience.4) Investing the necessary amountOnce the goals are sorted, market is studied and the timed well, you can then decide on the amounts in accordance with the other points. While deciding the amount, details related to returns, potential profits or losses should be taken into consideration by the investor. The amount to be invested should be exact, not more nor less because you do not want to compromise on the liquidity of your funds.5) Continuity and ConsistencyOnce the foundation is laid, continuing to manage liquidity throughout the period of investment should not be hampered. Since financial freedom is a long process, it is ideal to strategise outflows so that the investor is aware of expenses, be it monthly, weekly or yearly. Stick to your commitment, stay consistent and continue with a healthy investment practice.Financial Freedom can be quite a journey but if you are a disciplined investor, it’ll certainly be worth the effort.—eom.
THE ROAD TOWARDS A GUILT-FREE LIFE
In this fast-paced life, everybody wants everything on-the-go, easy-to-make and quick-to-learn. We are living in a world of instant gratification. However, often enough, a quick-fix lifestyle brings in a lot of guilty and afterthoughts. For every piece of chocolate cake, there’s an extra mile (or two!) of run to burn those calories and miserable guilt. But what about your financial health after the liberal expenditures for all things you really don’t need? Fret not! We offer to you five simple ways to live a guilt-free life through clever investment ideas:
1)Get organised, go systematic
Yearly rise in price, or inflation, gradually decreases purchasing power. Through systematic planned investment, not only will you stay ahead of inflation, but also enjoy some amazing benefits which would lead you to book that trip you always wanted to go with your friends and family without having to worry about your savings or your child’s future. Through calculated investment, one can think ahead of time and live a guilt-free life.
2)Grow your money
Investment helps long term goals come to reality by bringing financial stability. When you invest money, the return you receive is higher than the principal amount. By safely parking your money, the return is bound to grow. This way, you can easily plan finances well according to your personal needs.
3)Secure your family
Your can set #family-goals for the rest of the world by being mindful of your money. Planned investment can get you an early retirement because money begins to give your returns. Investing now can reduce the financial burden for your child’s education. Small steps for bigger leap. If you start investing early, you will have enough liquidity in the future. The sooner you start investing, the better yet… do not be restricted by your age. It’s better to start now than never.
4)Anticipate Profits
Unlike other ways, planned investments would help you anticipate appreciation. This gives investors a winning edge over other methods of growing money. Since all the regulations are pre-stated, it becomes possible for the investor to foresee the probable outcome. It is a massive advantage as it allows the investors to plan their finance accordingly.
5)Be flexible with your investment
Investments can vary according to the investors’ budget and savings. There’s no thumb rule or fixed amounts however the results may vary. Higher the risk, better the reward. It depends on the investor solely. The added benefit here is that the investor does not have to wait until enough cash is accumulated. Therefore, there would be an optimum utilisation of cash and subsequent higher rewards.
It’s best to avoid unnecessary traps of loans with high interest. For some, investment is a habit but if you choose it as a lifestyle then you can definitely live a life free of any stress or guilt.
---eom.