Have you ever wondered where is my money gone? Part One

Financial planning is all about knowing where your money is going, and what does it do for you. First, you need to draw a budget. How to draw a simple budget? List down all the places/things/people on which you spend your money. Such as mortgage, rent, education (for yourself, spouse, children, or community welfare), food, … Continue reading Have you ever wondered where is my money gone? Part One

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Why do we need Insurance?

Insurance is all about minimizing the financial consequence of a risk that materializes. Insurance transfer the financial consequence of a loss one suffers to an Insurance company for a relatively small amount of money known as premiums which are paid to the Insurance company. The Insurance company maintains a fund from all the people who … Continue reading Why do we need Insurance?