Be Financially Prudent !

Science subjects like Physics, Chemistry, Medicine, Technology, Astronomy, etc. are quite complex and unless you have formal education in these subjects, they are difficult to comprehend.

- Anil Chopra

However, same is not true for financial topics and with some interests and efforts, Doctors, Engineers, Architects and even Housewives can take charge of their money matters and lead a financially confident life.

Most Indians remain obsessed with three popular topics, namely, Politics, Bollywood and Cricket. Lot of valuable time is consumed in reading articles/blogs/news items on these three topics and equal amount of time is spent in discussing/gossiping the same with their friends. However, even if a fraction of this time is spent upon brushing-up your knowledge on money/ financial matters, it can work wonders towards improving your lifestyle as well as quality of life.

By going through financial news items and by watching business TV Channels, you can constantly update yourself with important developments and crucial financial concepts like rate of inflation, GDP growth rate, interest rate movements and ups and downs in Equity markets together with returns being generated by Stock Market over one, three, five years and on a long term basis. However, please remember that “half knowledge” is even more dangerous than “no knowledge” at all. Therefore, develop a habit of getting into meaningful conversations on financial developments with your spouse, friends, colleagues and most importantly with your expert investment adviser.

We share below few simple strategies for adopting in your life to be financially prudent.

1. Choose a Family Financial Doctor