Financial Literacy is very important literacy but ironically is not given the importance it deserves in our education system. “One of the reasons the rich get richer, the poor get poorer and the middle-class struggles in debt is because the subject of money is taught at home, not at school.” Robert Kiyosaki, Educational Entrepreneur. According to Organization for Economic Cooperation and Development (OECD) “financial literacy as a … Continue reading Know Why Financial illiteracy Could be Extremely Dangerous
“The number one problem in today’s generation and the economy is the lack of financial literacy.” Alan Greenspan Alan Greenspan is not true for personal finance but he is also right for entrepreneurs. Entrepreneurs whose success is determined by financial performance many times do not understand the nitty-gritty of finance. According to a recent survey by the National Financial Educators Council Americans squandered $280 billion last year due to poor financial understanding,. … Continue reading Not Knowing Financial Ratios Can be Fatal for Your Business
Among all the planning you do Financial Planning is perhaps the most important but mostly ignored planning exercise. Financial Planning requires you to consider planning about your life. It entails considering budgeting, savings, investments, taxes, insurance, retirements, and important life stage planning like children education, marriages, etc. It is an exhaustive process. But it is also an interesting process. It makes you think through the … Continue reading You Need to Know 4 Aspects of Personal Financial Planning
“Accounting is the language of business.” Warren Buffett Profit and Loss account shows the profit a business earns. But this could be illusionary if the entrepreneur is not aware of the accounting. Usually, companies play with the profit to satisfy the bankers and to evade taxes. This is a fine balance. For bank projected profit is important and for tax purpose deflated profit dishonest entrepreneurs … Continue reading Do Not Let Your Profit Figure Fool You
Do you know you can do nothing after your death? “No one here gets out alive.” Jim Morrison Therefore, financial planning for your death must start when you are alive. It may sound unkind, but death is the ultimate future of every living being. If you plan better it is good for your spouse, if you don’t, well, hardship she will be subjected to will … Continue reading What Women Need to Know About Family Finance?
NPA figure in the banking and NBFC industry is exorbitant. Banks are suffering but what about the borrowers who have suffered business loss. They are facing recovery agents, social abstinence, legal battles, the stress of managing family expectations and responsibility of turning around the business. The situation is dire. People suffering from financial distress are all around us. Financial distress is not a new thing. … Continue reading 8 Things You Need to Know to Deal With Financial Distress
Financial literacy is about how you deal with your money. This is about simple basic things about money. Financial literacy is not necessarily your literacy about the language i.e. reading and writing. It is different. “The number one problem in today’s generation and economy is the lack of financial literacy.” Alan Greenspan It is about understanding your income, expenses, investments, credit, budgeting, planning, and knowing … Continue reading 9 Key Financial Literacy Aspects You need to Know