After know where you money is going. . . Part Two

You have known where your money is going by making lists of expenditures and making a budget. Are you happy that you are getting the right value/pleasure/satisfaction by looking at how you are spending your money? List down your goals/objectives that you would like to achieve in a months time, after a year, and in … Continue reading After know where you money is going. . . Part Two

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

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?

What Can We Learn From Ants? Planning ahead, and Insurance.

1. Ants are driven by purpose Ants have a clear long term objective or goal which shapes everything they do. For example, one ant’s sole job description is to find food for the colony. This is his purpose, and all that he inputs this time and energy into, and so it compounds his chances of … Continue reading What Can We Learn From Ants? Planning ahead, and Insurance.