Personalfinance Ideas - Deepstash

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Personal Finance: Investment: Why?

Why is it important that you invest?

  1. Value of money is decreasing due to inflation,
  2. Post-retirement funds if you wouldn't want to work your entire life,
  3. Build on your pre-taxable income & reduce your taxes.

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[3/4] Personal Finance is a very crucial concept that is often ignored. This is an attempt to spread awareness related to personal finance.

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Debt: Loans
  • Personal Capital = True Assets - True Liabilities
  • Loans? depends on "Good" or "Bad" loans.
  • Good loans - Education, Business, Home, etc.
  • Bad loans - Credit cards, car loans, etc.
  • Your credit score is an important indicator to lenders of your ability to repay loans.
  • Maintaining credit score: pay off loans on time, use credit cards carefully.

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[2/4] Personal Finance is a very crucial concept that is often ignored. This is an attempt to spread awareness related to personal finance.

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Personal Finance: Wealth Creation

Savings = Income - Expenditure, i.e. increase your income & decrease your expenditure to increase savings.

Follow budgeting principle:  

  • Needs: 50% of Total Income,
  • Wants: 30% of Total Income,
  • Savings: 20% of Total Income.

Smart ways to save more:

  1. Keep your emergency fund in a separate bank account to avoid using it accidentally,
  2. Stop/minimize using credit cards,
  3. Stop falling for impulsive purchases.

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[1/4] Personal Finance is a very crucial concept that is often ignored. This is an attempt to spread awareness related to personal finance.

2 IDEAS

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