Personal Finance

Personal Finance

Financial Preparedness for an Emergency

The 2008 recession was a wake up call for many who were not prepared for a black swan event. Little did we know back then that in barely over a decade the entire world will be locked down because of a pandemic. Most of us were not prepared to deal...
Personal Finance

The Pandemic Paradigm

The past few months have brought about a paradigm shift in almost every aspect of our lives. We are yet to reach the point where we divide this era into pre-pandemic and post-pandemic. As COVID-19 sweeps across the globe, we have all started changing how we live and interact with...
Personal Finance

Understanding and Managing Debt

The desire to want things and have them instantly in our possession is one of the root causes of debt. At some point in their lives, many people find themselves in a financial crisis. The crisis can be caused by situations like unavoidable medical expenses, loss of a job, college...
Personal Finance

Getting Financially Fit

There are numerous steps we take to remain healthy or get healthy. We go on diets, exercise regularly, sleep for seven to eight hours, maintain a healthy mindset and so on. One of the reasons most people take a decision to go down this road is when they are faced...
Personal Finance

Discretionary vs. Non Discretionary Expenses

Our daily expenses can be categorized into Discretionary and Non Discretionary Expenses. Non Discretionary Expenses are necessary expenses like your rent and utility bills. Discretionary Expenses, on the other hand, can be classified as expenses that you don’t really need. A simpler way would be to classify your expenses between...
Personal Finance

Taking control of your Finances

Budgeting is predominantly the process of taking control of your finances. Creating and implementing a budget allows you to understand your sources of income and how and where you spend your money. The most important aspect of budgeting is that it allows you to make a calculated financial decision in...
Personal Finance

Building your Emergency Fund

What is an Emergency Fund? The amount of cash you save up for an unforeseen event is your Emergency Fund. When you start taking control of your finances and have a monthly budget ready and have also figured how to effectively pay off your debt, the next step you should...
Personal Finance

Effectively Creating a Budget

A Budget is an itemized list of your expected income and expenses for a set period of time. Creating a budget can help you get better control of your money. If you are trying to get your financial life in order, creating a budget is the first step to get...
Personal Finance

Saving for a Rainy Day

Saving for a rainy day is not the easiest thing to do but is essential. Setting a certain amount of money aside to save for a rainy day is like creating a safety net that is readily available to you in the event of an emergency or a financial crisis....