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Showing posts from 2020

5 important budgeting tips

I have tried to make budgets work multiple times with varying degrees of success. And through the multiple attempts at making budgeting stick, I've noticed a few key learnings on what works or doesn't work for me. Now, I do like personal finance, but the idea of logging every single purchase and the necessity of checking my bank apps multiple times a week (or day) is a horrifying prospect for me. This is something I did not know when beginning, but now is clear as crystal. After many attempts I believe I have settled on a way of budgeting that works best for my preferences. There is no 1 way to budget, and the method should be tweaked to best suit one's personality 1. Knowing your WHY is the single most important factor Saving money for the sake of saving money is boring. It is also extremely uninspiring and can feel like an unnecessary leash holding you back in enjoying life. However, that is exactly NOT the point of budgeting. Budgets can help you prevent wasting

Staying financially ready during and after the Coronavirus

Being confined indoors has affected the economics of many ventures, companies, and even countries with the global GDP predictions being slashed for 2020 and 2021. Many industries - like catering, hospitality, travel, insurance, and medicine are affected severely - with people working long hours, being prone to burning out, and even being laid off.  These trends have severely affected the stock market, with almost all indices falling quickly. This affects millions of people - their retirement accounts, investments for goals and even their monthly incomes. Additionally, affected people would need to tap into their savings to get by or to pay their medical bills. Stock markets have plummetted because of massive sell-offs triggered by the epidemic scare 5 things I am doing: 1. Health is the first priority Staying safe and healthy should be an absolute priority. This means "not getting sick" and "not spreading the sickness", and government rules