Honest efforts for educating & Prospering Common man


Computers have made the financial system so complicated that few humans can understand it. As AI (Artificial intelligence) improves we might soon reaches to a point when no human can make a sense of finance any more.
                  -       Yuval Noah Harari

I read the chapter again and again…..…. Being a finance professor I started thinking about the future world and its correlation with the finance and financial instruments. Since last so many centuries, people are earning money for spending and saving. Earning money & saving the same for future is now one of the habits of a person which is inseparable from his or her lifestyle.

When I was taking the review of the financial changes made by e-finance and its instruments, I found that people have accepted and started investing in all new financial avenues. But the question is do they really understand it? Most of the time, the answer is “NO”.

We select the area of working based on the insights and interest; spend lots of year to be master of the subject. We use that knowledge to earn money and support our wellbeing. Do we spend 1% of that time when it comes to making the financial decision? It’s observed that most of the time we invest in properties or purchase cars just to show off or to follow our idols blindly. We need to accept the bitter truth we may tempt to portray our self as Mr. or Ms. Richie Rich. Don’t believe me? Just check how much EMIs you are paying for the asset which is parked in your parking (currently useless) or how much money you have spent on branded products which are lying in the cupboard only.

You may ask me, “We are earning money, don’t we have right to spend it as per our wish?”
Yes you do have but as per new perspective of Financial Management. This is a good time to redefine the financial management. Financial management does not mean that the tool which helps you to give the maximum returns on the investment, but it’s a tool which helps you to improve the ratio of “Working hours a day” and the “Family time”. In simple words, financial management also helps you improve the work life balance as well.

In this blog we are going to discuss about subjects like finance, accounts, taxation and other allied areas. In this blog, we will not only talk about the figures and graphs but we will also consider the emotions, feelings and individual goals tangled with the financial aspects of the human life.

I am not writing this blog for financial experts but I am writing the same for common people who always want to see themselves as “Wealthier” but lacks the knowledge about the finance.

I know you are doing really satisfactory work in your expertise area as you have practiced it for so many years. You are also earning huge money from it, but don’t fall prey to any promotions and advertisements when it comes to the investment and planning. It’s my humble request always take a help from the financial planner the way you visit the doctor when you are not feeling well.

This blog will help you to understand the financial terms, concept in simple words, making you to realize your real requirements and communicate with your financial planner. You are not expected to be an expert in finance but you must have certain knowledge as earning and spending money is in genes of human.

If you have any questions feel free to ask under the comment section. Please like, share and subscribe to increase the financial literacy among the common people.

(If you are comfortable with “Marathi” a regional language of Maharashtra, India, you can visit our Marathi version of the blog by clicking on the link https://managingrupaya.blogspot.com/2020/04/honest-efforts-for-educating-prospering.html)





 

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