Fintellect

Traditionally Indians are bound to the practice of Savings. There is a deep-rooted sense of managing the income by spending less and postponing the luxuries of life. But this ‘saving culture’ has come under threat. The change in mindset is very evident with the youth and the EMI fixated middle aged salary earners, who are impressed with the easy spending consumer culture of the west. But the recent global pandemic has exposed the virtues of savings. Even after pay cuts people have realised the power of saving money and planning for the future. Today, those who saved and invested wisely are secure in their lives and livelihood. Their past course of action brings to light the quintessential question running in everyone’s mind “How much to Save to plan a secure future”. The truth be told there is no one size fit all planning strategy for savings. But a general thumb rule to start saving is to start analysing spendings.  Income - Expenses = Savings Spending before saving is a very wrong ap

Are you someone who is always behind your credit card bills, or someone who’s contact lists have loan processor’s listed in it, then you may not want to skip reading this article. Though the credit card generation has got accustomed to a borrow spend and pay culture, savings has been Indian way of life in being prepared to face the unexpected for decades or even centuries now. And there’s no better time than this global pandemic to start thinking about developing the habit of saving for an unforeseen event. What is Emergency Fund Emergency fund is created to meet out the unforeseen events in our life such as temporary job loss, sudden illness, global economic crisis etc. Why do you need an Emergency Fund Having an emergency fund is like having your own personal banker who can fund you to take care of an unexpected situation, stopping the expected monthly inflow of money to you for a certain period. You can build yourself an emergency fund that can keep your soil wet on a dry day. How m