Need Financial Literacy In India

Why we need Financial Literacy in India

Financial Planning and Stability is the new buzz nowadays. Be it television or newspaper, or even your social media feed on Facebook, it is entirely reasonable to see those investment advertisements advising you on the importance of long-term investments. Every Financial expert seems busy pitching high returns and great profits through their next best money making idea.

A look over Quora feed could swiftly tell us how many Indians are curious about their future and what their hopes are. While many are out there having questions, a lot more have free guidance and suggestions. One may say that many people have now started investing towards their future and are certainly going to enjoy financial stability.

But does having a sound investments makes you a financially knowledgeable person? A global survey conducted by Standard & Poor’s Financial Services LLC (S&P) in 2017 did provide the answer to it. It also showed an underlining problem in India that many were not aware of.

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Adopt These 7 Personal Finance Habits in Your 20’s

Are you among the student turned professionals that fear about your financial stability. Do those frequently appearing investment advertisements confuse you between saving for retirement vs genuinely enjoying your 20’s?Are you among the common Indian youth with struggle with understanding complex financial terms like a portfolio, equity returns or asset allocation and are afraid your personal finance habits are not smart enough to make you rich quickly.

Are you really scared of how to trust those financial experts who are non-slopingly shouting for next upcoming economic collapse that might wipe out all your savings?

If it is that so, you are really just worrying too much. Life is a marathon, not a sprint.

Why Financial Investments should not be your prime focus in 20’s

Outreach of social media platforms and internet has allowed financial institutions to marketize their products to such an extent that every single website tells either to “Save for retirement” or “start investing”. Although, it is needed to have investments, what they often try to hide is how much is required, This has made people think they have to aggressively invest in whatever comes their way else they will miss out their financial security.

What should this decade mean to you?

As a first-time employee, the vital thing you need to understand is that you have almost a decade ahead of you to explore and learn experiences without the burden of responsibility. Habits that you adopt in this decade might last long( even for your entire life), so you need to explore more before you decide what’s best for you.
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Opportunity Secrets to know before setting up a passive income stream

Creating a steady Passive income stream, especially an online one, is one of the most profitable and rewarding ways of making money today. It is not only a very lucrative way for people to earn from their side gigs but also a prime opportunity for entrepreneurs to turn these passion into new businesses opportunities.

If you disagree, let me first point you towards www.smartpassiveincome.com. Pat Flynn who runs that site is always full of great info on escaping the traditional 9 to 5 jobs and gaining financial freedom. He promotes ideas and great content on how to start a small business and how to generate passive income. He was laid off from his job in 2008 economic crash and thus learned the value of passive income the hard way.

But you should not let the idea of earning passive income make you think of this as no work and free money. Setting up a passive income stream is often hard work with no or very less income at early stages, but once you get it going and do it right, it just gets natural and more comfortable each day.

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