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The market is down with a 14% correction at the Nifty level, individual stocks have gone down by 50%+ and there has been a carnage. Are you losing sleep?
Just breathe, imagine and accept – it’s your investment style and approach that’s responsible for it. The market isn’t your friend, so you cannot expect it to be generous to your investments. Isn’t that wishful thinking?
If you are used to saying, ‘I’m broke’ too often, it’s time you check your spending habits.
Today, in the fast-paced world that we live in, financial health and mental health are intertwined. This does not mean that you will feel happy only if you make a certain financial figure. However, how you manage your money certainly does define how you feel about your life by the end of the month.
You can still have fun while on a budget. The basic idea is to put you in control of your money and not the other way around.
Budgeting is not about depriving yourself of having fun, buying your favorite brand or making your life boring and miserable. If that is what you think creating a budget means, you have not really understood its meaning. That is the primary reason your budget plan doesn’t work. Your budget plan should actually be a guide to help you manage your finances. Chances are you have a fixed income so, if you don’t allocate this money properly, you will end up falling short on something or the other.
Life is an unpredictable roller-coaster ride; you better be prepared for it.
Did you read the news today? No? Well, you do not really need newspapers or channels to realize how uncertain life can be. One minute you could be walking down the street, whistling away your dreams and the next minute something unexpected can happen. It can both be a good something or bad something, but the thing is, you never really know which extreme your life is going to take the next turn to!
What are the most common mistakes that lead to poor portfolio performance? Do you also need to reconsider your investment strategy? To know click on Read More.
