Category: Finance

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Finance

Are Mutual Funds Investments The Way To Becoming Rich?

Mutual Funds Investments
Are Mutual Funds Investments The Way To Becoming Rich?

There is hardly anyone among us who does not want to be rich, but the biggest obstacle in this path is the income of the people. People whose income is less, think that they can never become rich. If your income is less and you also want to become rich, then today’s article is only for you.

Most people invest in the share market and face losses. You must have heard from such people that the share market is useless and there is no benefit to investing in it. The real story is that such people start investing in the stock market without any knowledge just on the advice of others and end up with losses. If you do not have knowledge of the stock market then you can invest in mutual funds. To know about the stock market, you should watch this video of Dr. Vivek Bindra –

How Do Mutual Funds Work?

If we invest in shares then all our investment is in any one company and if we do not know the share market then we cannot tell about the future of that company. When we invest in mutual funds, our investment is shared by knowledgeable people who understand the stock market, who are called fund managers, and such companies are called asset companies. Instead of investing in a single company, they invest your investment in different places (shares, bonds, etc.), thereby reducing your chances of loss.

Mutual Fund works on compound interest, suppose you invest Rs 100 in the first month and it earns 15% interest, then in the next month the amount will grow to Rs 115, and then it will get 15% at Rs 115. Along with this, if you invest Rs 100 in the next month also, then in the second month you will get 15% on your Rs 215.

Now for example, let’s assume that you invest Rs 5,000 every month at a 15% rate for 10 years, then in the next 10 years your investment will be Rs 6 lakh and you will get a return of Rs 7,93,286 i.e. In total, Rs 13 lakh 93 thousand 286 will be received.

As your income increases, you can increase the amount you invest in mutual funds and hopefully, your returns will also increase. If you invest in mutual funds consistently, you may become a millionaire through exposure to contracts.

50 – 30 – 20 Rule of Investing:

The 50 – 30 – 20 Rule of Investing is written by Elizabeth Warren and her daughter Amelia Warren Tyagi in their 2005 book “All Your Worth: The Ultimate Lifetime Money Plan.” As per this rule, a person should divide his job into 3 parts:

  1. 50% on Their Needs: Individuals should spend 50% of their income on their needs like Rent, EMI, Food, Transportation, Clothes, and Bills. It depends from person to person.
  2. 30% on Other Needs: We have expenses other than these needs, such as cars, vacations, expensive dresses, smartphone cities, etc., on which we can spend 30% of our job earnings.
  3. 20% on investment: Staying conscious of the 50 – 30 – 20 rule of investment, we should keep 20% of our income for investments.

You can also change the 50 – 30 – 20 rule of investment with your senses. If your income is more and you feel that you can spend less on other needs, then you can invest that amount and make this rule 50 – 20 – 30 instead of 50 – 30 – 20.

You often hear the line that mutual fund investment is the credibility of the market, but if you invest consistently in a good mutual fund, this investment can secure your future and make you rich by investing consistently.

Famous investor and industrialist Warren Buffet has a quote that “Never depend on a single income. Invest to create a second source.” If you invest in mutual funds, it will provide you with a second and stronger source of income. Start investing a part of your income in mutual funds from today itself and you can be on the path to becoming a future millionaire.

Work on applying these straightforward yet insightful lessons from Shark Tank India’s second season to your personal and professional life. You’ll definitely be headed in the correct direction. You can enroll for the Anybody Can Earn Webinar to know more about the facets of making money and multiplying it as per your wish. To Know More, you can visit Bada Business.

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Finance Strategy

5 Vital Tips For Beginners In Stock Market

5 Vital Tips For Beginners In Stock Market
5 Vital Tips For Beginners In Stock Market

The uncertainty and unpredictability of the market can be frustrating for a first-time investor. However, having adequate knowledge and the required analysis of the stock market can help you receive long-term returns. You can also hire the best business coach in India to get information about stocks, equity, and the share market.

In the beginning, the fear of putting your money in the market might make you change your mind, but keeping yourself patient and calm can help you focus on long-term returns on your investment.

So what are those 5 things that every new investor should keep in mind before putting their money in the market? Let’s find out:

1. Stick to Single Strategy

If you Google for investment strategies, you will be presented with tens of thousands of results. However, it can be overwhelming and create confusion for someone who is exploring the world of the stock market for the first time. Hence, the best way is to focus on a single strategy and become proficient at it. Eventually, you will start to make money over time.

2. Buy only when you understand it!

In 2017, Bitcoin was the hottest thing to put money on- and more often than not, there will be a particular investment that gets a lot of attention. However, you must invest money in it only if you understand the nitty-gritty of it.

New investors often have this idea of “get rich quick” and end up losing more money. Staying away from that mind set will help you save your money. Buy a stock only if you know the product or service. Otherwise, you can also put your money in a low expense stock, or a mutual fund can be a good start.

3. Diverse Portfolio

Investing is not just about putting your money in the stock market. Trying to get heavy returns by putting all your money into a few hot stocks will fail in the long run. Despite all the hype that is being created around stock picking, the path to long-term wealth creation is asset allocation by building a diverse portfolio. A portfolio with diverse allocation includes stocks, bonds, and a range of other asset classes.

4. Develop Long-term Thinking

The world of the share market often sells fear or greed. But, it is essential to keep in mind that when it comes to the stock market or trading, the short-term approach does not give fruitful results. Hence, always think “long-term” when it comes to the trading world. Why? It is like a roller-coaster ride of a lifetime that has the potential for outstanding long-term personal benefit.

Do not get sold for the idea of “get rich quick” or the day-to-day emotions. Set a clear goal, and let the stock market do what it is meant to do.

5. Invest in Balanced Funds Systematically

Ask anyone who has been trading in the stock market and they will tell you how a balanced approach over time will always provide growth. This has made so many people`s retirement extremely comfortable.

However, you will not find many takers of this golden approach. The major reason behind it is the overheard stock tip. It may yield fascinating results on rare occasions, but more often than not the money is lost quickly. To avoid risk, it is highly recommended to put your money in balance funds systematically over time.

So take your time and learn from them as it will help you make an informed decision.

Stocks move up and down, way too quickly. You might feel your heart skipping a beat with every high and low of the stock you have put your money on. However, do not panic and sell everything, if you see a 2% drop in your portfolio. Constant buying and selling will lower your returns in the long run.

Always choose stocks that you truly believe in by analyzing their past performance. Buy and hold them. It will yield long-term returns.

Are you new to the world of the share and stock market? Then you can take our business coaching programs where you will gain in-depth knowledge about share and the stock market in a very engaging and easy-to-understand format.

For more information, visit www.badabusiness.com.

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Finance

7 Essential Financial Tips For Beginners

7 Essential Financial Tips For Beginners
7 Essential Financial Tips For Beginners

Many people these days like to know where they are putting their money. They would establish a budget for their daily expenses or take a more active role in managing their expenses. However, they don’t know where they should start. This scenario is more common with young adults who have just started earning or got their first paycheck.

But with an abundance of expert advice, beginners often feel overwhelmed and confused about where they should start. So, if you listen to Dr. Vivek Bindra- the best motivational speaker in India, you can learn some really useful money management tips from him on his YouTube channel.

If you are starting your journey toward money management, we have got you covered. Here are 7 tips to help you actively track and manage your finances:

1.  Think About the Destination

Though you can start without having a goal in mind. But that would be a complete waste of energy, effort, and money that you are saving. Most often, people work to get through their day and pay the bills. But seldom does anyone think about why they are working and what their goal in life is. So, apart from your expenses, income and savings, think about the final goal that you want to achieve in your life. It is important to have a vision in your life.

2. Track your Money

It is very important to know where your money goes every day, every week, and every month. This forms the crucial foundation for a financial plan. If you use cash, it could be difficult to track it down. However, you can always note down your daily expenses and monthly bills like rent, and phone bills to keep your money organized. This will help you to build the proper groundwork for a new financial plan.

3. Determine your Net Income

Before you retire, you need to save money to lead a comfortable life. Hence, saving is non-negotiable. When you are tracking your money down, ensure that the first thing that you take into account is to look at the net income amount. Your net income amount is what you save after 15% of your gross income goes into multiple different types of accounts.

4. Use Multiple Bank Accounts

If you use one single account for multiple purposes, it could be difficult to plan your budget. Keep your budget to under five categories and use multiple bank accounts for each category. This way you can easily track your account balance without having to number crunch each time.

5. Transfer Money into Investment Account

Budgeting is not always fun! It is hard, so you should keep it simple. Just transfer the amount of money out of your account to your investment account. Your investment account should be different from your savings account. By investing for the future, you are less likely to transfer the money back into checking and spending it.

6. Reach Out to Your Network

Entrepreneurs leverage more from forging relationships and growing their network. So, reach out to your network and you will be surprised to find some of the best templates and tools for managing finances by just asking other startup businesses. You can also hire a business coach to help you grow your network.

7. Understand Your Investment Goal

Are you planning for retirement or do you simply want to save so that you can fund your startup? You need to understand and be clear about your investment goal. It is also important to understand the investment horizon. Keep it for two years when investing in the market because the ‘buy low, sell high’ theory needs you to keep an eye on the market.

The seven tips from professionals will not just guide you on your way to saving money, but will also help you to create wealth. So, keep these tips in mind and let us know how they work for you!

Starting a business may sound exciting but is indeed a hard deal! If you have no prior experience, it could lead to a downfall. So learn the skills from the master via Business Coaching Program by Dr. Vivek Bindra. To know more, visit: www.badabusiness.com

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Finance Startup

5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds

5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds
5 Common Mistakes Entrepreneurs Should Avoid When Raising Funds

Summary: A startup`s fundraising efforts depend on its ability to make itself and its business ideas appealing.  Here are five common mistakes every entrepreneur must avoid.

According to a report by IBM Institute for Business Value & Oxford Economics, over 90% of Indian startups fail miserably within 5 years of inception.

Starting a business is a pricey process. From hosting a website to hiring the right people, everything can quickly add up to the cost of the company. So unless you are independently wealthy or able to monetize right away, you will need large funds to foot the bills.

However, it does not mean that you should start rushing to people and start asking them for money to raise funds for your startup business. Before you think about raising funds, stop and consider the best way to raise money sustainably for your business. You can also hire a business coach to help you raise funds.

To ensure that your startup runs smoothly, we have listed out a list of fundraising mistakes that every entrepreneur must avoid:

1. Raising Capital too Early

When you have invested your own money in your business, you can stop the project anytime. But once you borrow money from investors, you will feel intensified pressure to make your business a huge success. You will have to give away a lot of equity in your company if you go this route. Hence, try to bootstrap your business and try to use existing resources to avoid the extra pressure.

2. Not Seeking Professional Advice

Entrepreneurs are often independent and self-sufficient. Hence, they often try to overcome any obstacle on their come that comes their way. While this conquering spirit is part of what makes entrepreneurs great, it can also be a fault. When raising funds for your startup, it’s critically important to seek the advice of professionals to better understand your funding needs and requirements. Consulting a business coach with real valuation experience can help you save your time and money on the wrong decisions down the road.

3. Not Raising Enough Funds

Some entrepreneurs ask for less funding than they require. It is the biggest fundraising mistake that can lead to the shutdown of the startup. Always ask for the amount by keeping your financial requirement as realistic as possible. Don`t worry about scaring investors by asking for the amount of money you will require for your business. To know step by step process of fund raising, watch here:

4. Lack of Clear Objectives

Having a clear goal in mind is essential to raise capital investment. Figuring out how much money you need to reach your next milestone is essential. From operational costs to essential professional services, determine how much capital you need. Not having a clear idea is another mistake that every entrepreneur must avoid.

5. Giving up too Much of the Company

One of the worst fundraising mistakes that entrepreneurs can make is giving up too much ownership of the company. While a deal that includes a good portion of your company might seem appealing, you could end up paying a much higher cost down the road.

Try to keep ownership within the company. Find out ways to raise or access funds which are more feasible.

Also, don’t forget to build and create relationships as you may come across people who can help you with investment. If you don’t know where to begin, start by making a list of businesses that intrigue you. You can use tools such as AngelList and Crunchbase to get a sense of the investors behind each project. You can also hire a business coach who can help you with networking.

These mistakes might appear small, however, if you want to successfully run your business, avoid falling into the trap of repeating these costly mistakes. Want to know the fundamental rules of fundraising?

Take our ‘Problem Solving Courses’ and gain in-depth knowledge about raising funds. To know more, visit: https://www.badabusiness.com/psc

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Finance

4 Essential Things To Keep In Mind Before Applying For A Personal Loan

4 Essential Things To Keep In Mind Before Applying For A Personal Loan
4 Essential Things To Keep In Mind Before Applying For A Personal Loan

Summary: If you require money, taking a loan is not bad. However, the problem comes when you borrow money for your desires and not needs.

If you need money, you can come across an ocean of choices. From banks, and personal financial institutions to lending apps that lend small sums between INR 2K and 10K, many Indians are borrowing money to fulfill their business and personal needs. However, these lending apps are proving harmful and costing many their money, peace, and even their lives.

“The number of suicide cases has been on the rise since the pandemic and approximately 25,200 of those are attributed to unemployment, job loss, and being in debt”, according to data from National Crime Records Bureau.

In 2021, at least six people committed suicide in Hyderabad alone due to harassment by the recovery agents of these apps. These apps lure those who are in dire need of funds and exploit their unmet need for credit by offering no-strings-attached credit. However, they come with a high rate of interest and tricky terms and conditions to which borrowers have no recourse.

Along with that, these loan apps get access to all information from the customer’s phones after which is later used by the company to perpetrate some other financial crime.

Many business coaching programs will help you to manage your finances and get rid of your debt quickly. For those who are looking for a personal loan for the first time, it is critical to understand the nature of these loans.

Here are 5 essential tips you should consider before applying for an immediate personal loan online:

1. Pick a Loan with Lower Interest Rate

Personal loans usually come with higher interest rates and often range from 11% to 20%. Thus, even a small drop in the interest rate can make a huge difference to your overall loan costs. If you opt for a low monthly payment over a long repayment term out of convenience or for any other reason, it will cost you more as it comes with high-interest rates. Small monthly payments might seem very appealing, but it ultimately leads you to pay more for the loan over its lifetime.

2. Assess the Need for a Loan

While availing of a loan is not a bad thing, it is a financial responsibility that can extend over some time. A bad loan will lead to a financial liability that can give you sleepless nights. Hence, it is essential to weigh your motivation behind the loan and ensure that it is necessary. If the purpose of the loan is to only buy a luxury car, it might not be a wise decision.

Also, it is a high-risk move if the idea behind taking a loan is to invest in other financial products/schemes hoping to make profits. Such borrowing and reinvestment schemes are also subject to market risks and there is never a guarantee of lucrative returns.

3. Always Take a loan from the Credible Financial Institution

Apart from traditional banks, there are other financial institutions as well that are approved by the market regulator Reserve Bank of India. Digital lenders are comparatively quicker in verifying and processing loan requests, disbursement often happens faster.

It is advantageous to have multiple options to choose from as it further allows a borrower to evaluate and compare interest rates, processing time as well as other important parameters before deciding on their loan.

4. Consider Insuring Your Loan

One thing that pandemic has taught us is that life is unpredictable. Before taking a loan, ensure that your family does not have to bear the consequences of the worst-case scenario. Hence, it is important to get your loan insured. Loan insurance also works like any other insurance plan. You can pay its premium every month or as a lump sum amount.

Personal loans can be beneficial if you have planned your finances well. When used wisely, it can help you to bridge the gap in your finances without putting your assets at stake. But, it is important to ensure that you are taking a loan from a genuine source and that you pay your loan back promptly. And most importantly, remember to use the loan only for its intended purpose. You can also learn debt management through our business coaching program. To know more, visit: https://www.badabusiness.com/BCP-Event/?pp_code=BHBB000078&ref_code=SM

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Finance

7 Best Tips You Should Consider Before Investing In Mutual Funds

7 Best Tips You Should Consider Before Investing In Mutual Funds
7 Best Tips You Should Consider Before Investing In Mutual Funds

Summary: Mutual Funds are one of the most popular tools of investment in India. A collection of bonds, stocks, assets, and money market instruments come with many benefits.

Warren Buffett once said, “Risk comes from not knowing what you are doing.” And when it comes to investment his words stand true. When you know how the market works, what kind of risk it involves, and know the essential tips and tricks of the same, you can become a good investor.

For beginners, Mutual Funds are the safest option to start investing in the market. Mutual Funds enable an investor with limited capital to make investments in various schemes like SIPs with as little as Rs. 100 or Rs. 500 to generate better earnings.

A mutual fund is an investment scheme made up of a pool of money collected from many investors to invest in various securities. The fund manager then uses these funds by investing them to purchase various securities including gold, stocks, bonds, etc. Each mutual fund will have a certain objective and different returns.

Before you decide to invest in mutual funds, follow these 7 tips that will help you to make a better decision in investing your money:

1. Read About Mutual Funds & Its Benefits

The new age investors believe in making passive income by making their idle money work for them. However, very few understand its true meaning and how to make the most of it. Many individuals are aware of the benefits that come along with investing in the stock market. But very few know that routing such investments through mutual funds would prove to be more effective.

Hence, you need to read as much as it is possible about Mutual Funds and how they work. What are the benefits and how you can reduce the risk that comes along with investments in just one asset category?

You can also take help from a wealth creator. He or she can help you in making investment decisions, just like a business coach helps you in taking critical decisions related to your business.

2. Learn about types of Mutual Funds

Mutual funds are segregated into distinct categories by asset class. They are divided into stocks, bonds, and cash, and then furthermore based on their style, objective, or strategy. There are three types of Mutual Funds in India:

a). Equity: High on both risk and potential returns, these investment schemes are the favorite of seasoned traders. However, beginners and investors with a low appetite for risk are cautioned before investing in any equity-oriented Mutual Funds.

b). Debt Mutual Funds: If you are risk-averse but want great returns on your investment, debt mutual funds are suitable for you. These fund schemes mostly invest in debt instruments like government bonds, corporate bonds, etc.

c). Balanced Mutual Funds: Also known as hybrid funds, this type of investment put money both in stocks and bonds. Its diversified nature provides balance and a perfect blend of both risk and rewards in terms of investments.

3. Find Your Objective

Before you decide to invest in mutual funds, you must know your objective. For instance, you can invest in equity funds, if you have long-term financial goals, but if you have short-term or medium-term financial goals, you can invest in debt funds.

Hence, your first step should be to decide on a goal. The time frame you are looking for and the returns that you are expecting will help you choose a fund that is best suited to your objective.

4. Learn About the Risk Involved

When thinking about investing, it is essential to know that the risk factor remains constant no matter which investment scheme you pick. However, there are numerous options available to help investors find one scheme that matches their risk appetite and return on investments.

5. Check the Expense Ratio

For the proper management of your funds, a commission is charged which is known as the expense ratio. As an investor, you need to figure out how much expense ratio a particular fund is charging, as it is calculated across the investor`s total portfolio and will have a significant impact. Hence, always pick a mutual fund that comes with a lower expense ratio.

6. Check Taxable Income on Your Investment

How much income from a fund will be taxable is something every beginner must consider. The returns from equity mutual funds are taxed based on the holding period and the applicable tax rate. Mutual funds are often efficient in terms of post-tax returns. For instance, long-term capital gains are taxed at 10% over and above the exemption limit of INR 1 lakh while short-term capital gains are taxed at a rate of 15%.

7. Track Past Performance of the Mutual Fund

It is crucial to check the track record of a particular Mutual Fund scheme before investing. From the duration to ‘Assets Under Management (AUM), you must learn everything related to the investment scheme you are planning to put your money in. Also, check the investment style of the fund manager and opt for a fund where the manager shows consistency irrespective of the market cycle.

Mutual funds are subject to market risk, which is why doing a fundamental analysis of a particular investment scheme becomes paramount. But, do know that no matter how good a fund has performed in the past, it won’t guarantee that the mutual fund will do well in the future. Keep these tips in mind before investing your money in a mutual fund.

LFP Plus by Dr Vivek Bindra

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Finance

6 Simple Yet Effective Ways To Make Extra Money Quickly

6 Simple Yet Effective Ways To Make Extra Money Quickly
6 Simple Yet Effective Ways To Make Extra Money Quickly

Summary: Want to make more money online? Here are five proven ways to make extra money.

Well, we keep on working throughout our lives to ensure our future. We keep wondering about questions such as how to pay our bills post-retirement and how to ensure that we receive continuous income? So, someday you won’t have to worry about money, rent, bills, and credit card debt. But today, you will have to take control of your financial situation.

So whether you are looking to earn extra income or want to get rid of your nagging customer care executives who do not forget to give you a call reminding you about your unpaid bills, these distinct ways of side-hustles will help you earn extra money.

Here are 6 ways through which you can earn some extra money online through various apps, and offline, too. The best part?…. You require little or no capital at all. So keep scrolling to know more.

1.       Become a Market Research Participant

By participating in market research, you can earn real money easily. Multiple companies conduct surveys and offer money for not a lot of work. All you have to do is complete an online survey on the company’s products or services by giving your feedback. 

There are many companies online that may ask you to join a focus group to simply share your opinion and will compensate you with cash or a gift card. It involves you writing or stating your feedback in polls or paid surveys. This will not take much time and is a great way to earn extra income. You can also listen to the best business motivational speaker to ensure that you are always motivated.

2.       Sell Old Books & Games on Amazon

Have old books or old games that you don’t play anymore? You can make more than just a few bucks if you have pricey books and games by selling them on Amazon, eBay, and Olx. Platforms like Amazon or eBay make it to list and sell your old books and other items on its marketplace. All you have to ensure is that your items are in good condition.

If you attempt to sell books that are falling apart or games that are scratched up, you will receive negative reviews. 

Pro tip: If there are any defects, be honest about them and mention them beforehand.  

If you are an influencer, you can also earn income through Amazon’s affiliate marketing. Affiliate marketing is a business model in which a company sells its products through a third party or affiliate, who charges a commission in return for promoting the product.

3.       Answer Questions on JustAnswer or Quora

Do you think you have the expertise in a particular subject? If yes, then platforms like Quora and JustAnswer could be a great way to earn extra money as they allow doctors, engineers, lawyers, and others with enhanced knowledge to earn a small income by merely answering questions from people who would otherwise have to pay a hefty sum for those answers. You need an internet connection and expertise in a particular field. It is a very lucrative option if you are looking to earn a bit of cash in a hurry.

4.       Take Dogs on Walks

So if you are a dog lover this option could be an excellent way to earn a few quick bucks. Although there are networks and platforms to connect dog owners with dog walkers, you can also show up at your neighbor’s doors to advertise your services. You can collect reviews from your clients to establish your credibility.

5.       Tutor Students

Parents are always willing to invest in their children’s future, especially in India. Though there are many online platforms where students can get online lessons, many parents still trust a human connection much more than an internet connection. If you know subjects like math, computers, science, etc. or any other subject, you can take coaching classes. If you have a startup idea, you can listen to a business coach to get professional advice.

6.       Conduct a Webinar

Conducting a webinar may sound intimidating, but it is one of the best ways to earn cash quickly. If you know your subject and target audience well, you can make loads of money in a very short period.

These distinct ideas can help you to earn quick cash without much hustle. You can try them and let us know which one worked for you the most.

Looking to gain in-depth knowledge about entrepreneurship? The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses. To know more about our programs, visit:  www.badabusiness.com.

Categories
Finance Motivational

Top 5 Investment Lessons From Rakesh Jhunjhunwala For Young Investors

Top 5 Investment Lessons From Rakesh Jhunjhunwala For Young Investors
Top 5 Investment Lessons From Rakesh Jhunjhunwala For Young Investors

Summary: Rakesh Jhunjhunwala is an investor with a midas touch. He is famously known as the Warren Buffett of India. Here are five investment lessons that will turn you into an ace investor.

Want to become a successful investor? Then why not learn from someone who has turned his 5000 rupees investment into INR 39,527 crores. Rakesh Jhunjhunwala, who is popularly known as India’s Warren Buffet started trading in the stock market back in 1985 during his college days. At that time BSE Sensex was at 150 points. He started investing with Rs. 5,000 as capital.

According to Forbes, his net worth stood at $5 billion (Rs 39, 527 crores), as of July 5, 2022. Rakesh Jhunjhunwala is not only one of the most successful investors in India, but he is also the most trustworthy and sought after by business moguls.

If you too want to learn some of the most useful lessons from the stock market, here is a list:

1. Don’t Rely on others Develop Passion For Stock Market Instead

When it comes to investing in the stock market, most often people rely on others for investment tips or suggestions. But Rakesh Jhunjhunwala suggests otherwise. His advice for the investors is to develop a passion for learning about the stock market by reading and talking with people who are seasoned investors.

Sharing his own experience he says that he used to ask his father about the nitty-gritty of the stock market. And that fascinated him, which eventually led to his passion for investing. Initially, he failed multiple times, but his interest never seemed to fade away.

You too can hire a business coach who can give you sound advice based on his years of experience and knowledge to help you grow your startup business.

2. Patience Is a Virtue

Investment is a long-term proposition. If you are looking to make some quick bucks, you will have to face disappointment. To become a successful investor, you need to be aware that it will take a decade or more to see the results of your investments.

Rakesh Jhunjhunwala is a long-term investor. His investments did not give results overnight. He’s been investing in Titan Company Ltd, for over two decades now and has made over 1,000% returns on his initial investment in the stock. He says, “one should always invest in a company’s business, not its stock.” He does not sell shares even during a short time drop or stock market corrections.

3. Be Ready to Grab an Opportunity

One of the most key lessons from Rakesh Jhunjhunwala is that as an investor you should be ready to grab an opportunity. He firmly believes that the volatile nature of the market is what creates opportunities.

According to him, as an investor one must have the risk-taking ability. And you will never make money if you are afraid to lose it because the stock market is a game of nerves. Stock market success depends upon your character and temperament rather than on any other factors.

4. Avoid Investing Money Impulsively

Some people invest in a stock and that stock goes up. So, he or she decides to invest in another one impulsively rather than thinking logically. Making an emotional investment is one of the biggest mistakes that anyone can make while investing.

Jhunjhunwala believes that investors should learn how to control their emotions and behave like machines when it comes to making an investment decision. If you are a consistent investor, you need to have faith in the economic cycle and your investment philosophy.  To be a great investor you need to go against your impulses and instincts and embrace some counterintuitive behaviors.

5. Invest in Businesses which is Hard to Replace

Always find businesses that offer products and services which are irreplaceable. Investing in such businesses will give you a competitive advantage. Rakesh Jhunjhunwala invests in businesses with wide moats when investing. Investing in such companies, he believes, gives investors a competitive edge of their own.

Just like stock markets, it is essential to make decisions that are good for your business growth. And to ensure that you are on the right path, you can hire a business coach.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses. To know more about these courses, visit www.badabusiness.com.

Categories
Finance

5 Simple Tips For Youngsters To Gain Financial Security

5 Simple Tips For Youngsters To Gain Financial Security
5 Simple Tips For Youngsters To Gain Financial Security

Whether it’s a tropical beach holiday or having the home of your dreams, every individual has a different financial future. While some would want to pursue higher education, others might be planning for their retirement plans. Nevertheless, financial security is very important for everyone to lead a life that is free of stress, fear of uncertainties, and anxiety.

Though the definition of financial security varies from person to person, its significance is undeniable. Reaching a stage where you have no worries regarding your financial condition is liberating. So, why not plan for a better tomorrow starting today?

Here are five tips given below through which you can attain financial security in your life.

1. Starting As Early As Possible

We have found that the early bird gets the worm. We all have heard about this adage, and we couldn’t agree more with its implication. When you start saving early, you can expect to save a significant amount of money to support and fund your future dreams.

Committing a certain amount of your salary every month will help you build up those savings in such a way that it will quickly become a habit. If you haven’t started yet, you can start saving at any age. You can decide on whatever amount you wish and can start saving now! Any amount you start putting in today will take you a long way into your retirement.

If you don’t feel motivated enough but have goals, you can take help from a business motivational speaker.

2. Consider Savings Deposits as a Bill

Considering inflation and lifestyle indulgences, people often find it difficult to save every month. However, the truth is that no matter how much you think it is difficult, once you start saving, you will recognize that despite a certain amount deducted every month, it is very easy to continue with your current lifestyle.

To ensure that you don’t give in to other temptations and skip your monthly saving amount, you can get it automatically debited from your account.

3. Use a Tax-Deferred Account

If you are an impulsive buyer, then using a tax-deferred account will be beneficial for you. A tax-deferred account deters you from spending those amounts on impulse because you are likely to face penalties and other tax consequences.

For example, any amount distributed from a traditional retirement account is subject to income taxes in the year in which the distribution occurs, and if you are under age 59½ when the distribution occurs, the amount could be subject to a 10% early distribution penalty.

If you have enough income, you can consider whether you can increase the monthly amount you have decided to invest. Never invest more than you can afford!

4. Diversify your portfolio

One should never put all the eggs in one basket. No matter how old this adage is, it still holds for retirement assets. Putting all your funds into one form of investment increases the risk of losing all your investments. Hence, invest in different schemes to minimize the risk of losing your money.

Asset allocation is one of the most important parts of your retirement assets. Before making investments, keep factors like your age, risk tolerance, and financial goals in mind.

In our masterclass, you will find out the best ways to diversify your portfolio with the best motivational speakers in India.

5. Keep a close eye on your budget

A budget is not a concept that remains fixed once decided. With time and requirements, it keeps changing. There will be plenty of times when you will need to reassess your expenses and fit them into your income. You might also find that you have fewer expenses than you had before. If you have finished paying your EMIs, it can suddenly free up your income. You can invest this money into other investment plans that you may have in the future, like health care plans.

You can learn excellent tips to manage your finances from the best motivational speaker in India—Dr Vivek Bindra.

If your business is buried under a high amount of credit due to bad financial management, you can meet Dr Vivek Bindra, the most successful business coach in India.

The idea of managing a business is easier said than done, and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses. Visit for more information:  https://www.badabusiness.com/.

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Finance

5 Smart Ways To Help You Settle Business Loans Quickly!

5 Smart Ways To Help You Settle Business Loans Quickly!
5 Smart Ways To Help You Settle Business Loans Quickly!

Summary: Is your business running in losses? Are you losing your investors because of the debt? Do you want to take your small business out of debt?

Rising interest rates and high corporate debt levels are giving sleepless nights to lots of investors and small business owners. It is impossible to predict the future, and with the latest happenings in the world, the period of consistent declines in the GDP of India, it is challenging for small business owners to run their business operations with the guidance of an expert.

Though most entrepreneurs begin their startup by arranging funds through debt funding, equity funding, loans, or other less formal sources like friends & family, the experience of being in debt can be scary and overwhelming. To avoid making drastic mistakes at the initial stage, many entrepreneurs also hire the best business coach in India.

If managed smartly, borrowing funds can help you accomplish your goals; if mismatched, it will affect your financial well-being and cause mental stress, especially to small business owners that are worse affected due to the Covid-19 pandemic.

The Indian government launched many loan schemes to offer relief to MSMEs in subordinated debts, collateral-free loans, and equity infusion through its Fund of Funds (FoF) scheme in 2020. This scheme proposes to purchase up to 15% growth capital in high-credit MSMEs.

You can work with a business coach who can help you manage funds more efficiently. Also, if you have a well-thought financial plan, you can solve the cumbersome process of taking your business out of debt, just like others. Here is how you can chart your way out of debt:

1. Reorganize the Debts 

The first step that will take you closer to managing your debt is to organize all the details of precisely what you owe. Make a list of your debts with EMIs, interest rates, and tenures. This will help you recognize the costliest obligations.

2. Pay Urgent & Costliest Debts First!

After sorting out your debts, pick the costliest one! If not paid on time, expensive debts will extract the highest interest. This can drain your finances. Hence, settle your costliest debts on a priority basis. Take help from the best business coach for strategies that will help you pay your debts.

3. Make Monthly Budget

One of the most vital debt management techniques is planning a monthly budget! Make a list of your income & expenses while deciding on your monthly budget. This will allow you to think about ways to reduce your daily expenditure. Having details of monthly cash flow can help you save money that you can use to clear your debt.

4. Consolidate Loans

Sometimes keeping track of all the loans can be difficult. If you have too many loans, it can be a good idea to consolidate them into one. This will leave you with just one EMI. Business loans, personal loans, and credit cards provide you with this option. It will remove various debts and leave you with just one loan to track. Consult with a business motivational speaker today to understand your finances. 

5. Protect yourself Against Economic Shocks 

The future is uncertain, and it is wise to protect yourself from uncertainties you might be exposed to. For E.g., a loss of a job could lead to delayed EMIs. So, to avoid such situations, create an emergency fund to help you sustain yourself during a bad phase. Ideally, this fund should be 3-6 times more than your current monthly income.

Repaying loans is a moral, legal, and also a financial obligation. With intelligent and effective debt management strategies, you too can get your business out of debt. Learn how to manage your debt with the top-industry leaders from our Problem Solving Courses.