6 Tips to Save Money & Invest

Below are 6 Tips to save Money and Invest to generate long term wealth. Apart from all the below, it is important that we follow the budgeting system and track our expenses to save and invest.

Automate your savings - As soon as we receive the salary or any other income from business, we need to make sure, a part of the income should directly go to the investment. We can make this automated with the bank and we should make sure it is consistent.

Meal Planning - These days many people spend more money eating outside or spending more on the meal budget. It is better to prepare the meal at home, which can be less expensive and can save lit more on that budget. This can increase the savings and trigger more investments. Obviously, we can plan to eat out but it is better to reduce as much as possible.

Cancel unused OTT subscriptions - Many of us would have subscriptions for many OTT platforms to see various webseries, movies or any other shows. However, we would not be using certain OTT platforms on a regular basis or it would be auto subscribed automatically. We need to identify those and unsubscribe to save bit more money and invest it wisely and consistently.

Consider Carpooling or use public transport - Instead of using a separate vehicle to commute to office, if there is a possibility, it is better to do carpooling or use public transport and save some more extra money on that. This way we can invest further more money to generate wealth.

Use Cash - Google Pay, Paytm and many more apps are easily accessible these days to pay a vendor or do any financial transactions. Because of this, we lose control over our finance and intent to spend more. When we pay using cash, we realize how much we spend and it could reduce the amount of spending. This way we can save and invest bit more.

Have no spend day or weekend - We need to discipline ourselves that we won't spend any money on a specific day or over a weekend. So that we can procrastinate our spending and that could sometime save our expenses. Better to have a weekend in a month as no spending weekend to save and invest.

Hope this blog give you some idea on how to save money and invest to generate long term wealth.

Have a Great Day

B G Nareshkumar

Emotion Management - Thoughts, Words, Optimism & Breadth Control

In Life and Stockmarket, most important thing to conquer or control is our emotions. People live a happy life by controlling their emotions and by holding their anger. People make money in stockmarket by controlling their emotions and not reacting to all the market moves. New position / stock always look better and attractive than the one we hold. If we change our positions frequently, then we will be the big time loser. Compounding doesn't work there.

Let's say when the market is down by 5%, our portfolio might be in red. If we close our existing positions because of this correction, we will lose money. That is exactly what operators are looking for from retail investors. Similarly, if we don't control our emotions in our work space, we might even lose our job or business opportunity.

To control our emotions, we should control our thoughts and control the words we speak. If we are not controlling our thoughts and repeating the negative thoughts again and again in our mind, our emotions will direct us in a wrong way. This will lead to negative actions. Similarly, the words we use have a great impact to our behavior and actions. So, control your thoughts and choose your words to have control over your emotions.

Being optimistic is one of the easiest way to have the positive thoughts and live a happy life. Better to observe and intake the good things in all we see. This will enhance the positive character in us. It was also said, when we control our breath we feel much better and have a controlled emotions. Let's say when we are unhappy and all the negative thoughts run in our mind, and when we breath in and out slowly, we will receive a better feel. It also reduced the stress, depression and anxiety.

A story below for not controlling emotions - Impact

There were 2 departments, operations and administration in a big automobile company. Head of operations team and head of administration were not in good terms. In the company progress meeting, it was noticed the progress of the company was not so good and need for improvement. When debugging the issue, employees complaining that the production was not good enough because the water purifier was not working properly for many days.

After this issue was reported, head of administration was very unhappy that how can a water purifier is linked to the companies production. This was a false acquisition. Moreover, head of operations words against this concern was triggering him to get out of control emotionally. Because of this, the head of administration lost his words, behaved inappropriately in the board meeting, lost his reputation in the company. Because of his action, the head of administration lost his job and the company looked for a replacement.

The head of administration did not lose his job because the water purifier was not working and the productivity reduced because of that. He lost his job because not controlling his emotions. So, this story clearly proves how important is that to control ones emotion. Hope this blog helps you. 

Have a Great Day

B G Nareshkumar

Yutori

There was a famous concept called Yutori in Japan. This means consciously slowing down everything and observing the world around us. No rushing, No Pressure. Just create a space for your mind to feel the beauty of nature and life.

Having a dream and visualizing it everyday to achieve those are good habits. However, many time we forget what is happening around us and fail to live at the present. When we start to live at the present, we will understand how beautiful the world is. It also helps us to realize what is very close to us and value the things we have and own.

When we see this in financial means, we might own few stocks, real estate or any other investments but we always think of the stock or land which we want to buy in the future. There is no wrong in that but we are failing to enjoy the stock or real estate we own now. When we understand and realize what we have now and start to appraise those, we will get the idea on how to build / grow that in a much better way.

In our personal life, when we understand the value of what and who we have now with us, we will make a beautiful relationships, happy life and long-lasting peace of mind. Hope this blog helps you to admire the present and appreciate what we have now.

Have a Great Day

B G Nareshkumar

Controlling Emotions - Fix your Entry, Exit and Time

"The more we feel, we don't have much time, we fail to control our emotions"

These days we live in fast paced environment. We need everything to happen quickly. Our thoughts are build in a way that we want things faster / sooner in life to enjoy it. Emotion towards physical things / money needs to be controlled to get those in a better fashion. Everyone including me wants to make money to be financially free but are we controlling our emotions, greed and accepting the reality to get those ?

When we fix a target and run behind certain things desperately we fail to re-collect what exactly we need and want in life. The same is applicable in making money. Most people don't have any control over their emotions in stockmarket investing and trading and lose money instead of making money.

"Fix your Entry, Exit and Time to control your Emotions"

When we take a position, it is very important we buy the business at the right price and we also should know at what price we should exit the position / holdings and at what time. Let's say I plan to buy a stock at Rs.100, I should fix my mind, I will exit this position when it reaches Rs.150 in 1 or 2 years. It might take some more time to reach that price, not an issue. However, when we enter the position, we should fix the exit price and time frame to control our emotions.

There should never be any emotion towards our holding positions. In the art of making money, we should only consider the profitable in business and capability of the business to take the price to our exit levels at the speculated time.

If we do not fix the exit price and time to the holding position we will keep looking at the stock price movement and forget the capability of the business / stock we are holding and in some point of time, we will exit the position much sooner with less money or might exit in lose.

If there is no plan on exit price and time given to the stock while buying it, we plan not to control our emotion. This will lead to uncontrolled mind and create unnecessary noise in our brain to make unwanted decisions.

Hope this blog gives you information on controlling our emotions in making money.

Have a Great Day
B G Nareshkumar