2. Generosity is in our blood. We happily pay 30-50% p.a. as interest charges to the Credit Card companies.
3. We respect our culture and old customs. We keep our money in the OUTDATED Bank Fixed Deposits.
4. Another example of respect for our tradition creating a huge pile of (useless) gold jewellery.
5. Yet another example of holding our customs in high esteem feeling proud if we can leave behind a “20-25 year old dilapidated property” for our children as a legacy [and not a “20-25 year old equity mutual fund portfolio”].
6. Spent more than half a lakh of rupees on a top-end smartphone just to show off (even though we will not use even one tenth of its smart features).
7. Replaced the same top-end smartphone in just 6 months? Oops… wasnt it smart even after paying all that money? (Psst… the new model is no different from the previous one, except for some minor tweaks).
8. Havent read the blog post My name is Insurance and I am not an investment.
9. More than 50-60% of the monthly take-home pay is gobbled up and devoured by various loan EMIs.
10. Hotel and restaurant owners love you. You are found at these places, far more than even their most regular staff members.
11. For you (financial) PLAN is a four-letter insulting and derogatory word.
12. Believing that budget is only the Finance Ministers job, not ours.
13. Believing that managing inflation is RBIs problem, not ours.
14. Financial lethargy… not paying the bills by the due date (often resulting in late fees and penal interest).
15. Financial shortsightedness… thinking only of today or tomorrow; and not the next year or next decade.
16. Still waiting for the so-called BEST DAY to invest in equity mutual funds.
17. Never seen our Credit Report, even though it is now available free of cost… forget about working to improve the Credit Score.
18. The Emergency Fund account shows a Zero Balance.
19. 99% focus on earning money. Mere 1% attention on managing the same.
20. Never heard of (or not knowing the meaning of) “delayed gratification”.
wasteful-money-habits
You may be blowing away your money due to carelessness and stupidity.
21. Repeatedly falling below the minimum average monthly balance in one’s Savings Account.
22. Making our neighbours jealous with our extravagant lifestyle is our life’s primary goal.
23. Replace is our motto. We dont believe in Repair and Reuse.
24. Blindly and needlessly chasing Maximum Returns from our investments.
25. You ask “what does this investment or financial product offer” instead of “how is this investment or financial product beneficial for me.”
26. Investing in the worlds biggest con job a scheme that has the word child in it.
27. Paying Rs.150-200 for a cup of coffee, when the same stuff is available at 1/4th the price.
28. You suffer from investment paralysis due to Fear of Loss.
29. Not having a professional financial mentor as your friend, philosopher and guide.
30. Blissfully unaware that Gym is an expensive fad. Running, walking, yoga are free and superior alternatives to remain as fit.
31. IRR, YTM, CAGR are bouncers that simply go over your head.
32. You think you can beat Roger Federer.
33. SIP, STP and SWP is all mumbo jumbo for you.
34. Hear the word RISK and your legs go jelly with anxiety.
35. Hear the word TAX and again your legs go jelly with anxiety.
36. Spending Rs.250 on a pizza every week? No issues at all. Buying a Rs.250 book on personal finance even once a year? No, thats a waste of money.
37. In your opinion Stock Market is a Casino and buying equity shares is gambling.
38. If you think that ups and downs are good only at roller coaster rides; and not at the stock markets.
39. The word Pension is music to your ears.
40. Our portfolio is a carbon copy of Rakesh Jhunjhunwala.
41. The biggest gamble we play with our finances no mediclaim policy.
42. THICK forms and FINE prints scare you.
43. Not yet realized that SUVs burn more fuel, burn more money, burn more environment (thus creating a hell for our children).
44. Not yet realized that Extended Warranties are almost always a waste of money.
45. You are more brand-conscious than price-conscious.
46. Pay for 400+ cable channels. Watch at most 10-12 of them (many of which are anyway free).
47. BUY TWO GET ONE FREE. One of the best ways to make money… for the mall owners.
48. We shamelessly (and foolishly) seek free financial advice and tips on hot stocks.
49. Buying lavish and luxurious Dream Homes, way bigger than our budgets (that often end up as bad dreams).
50. Our plate is often filled with pizzas, burgers, samosas, chips, colas and such other junk food.
51. We forget that Trust is an extremely rare commodity in the financial world.
The US-based private capital software platform sets up base in Sydney as part of Investment…
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 14 November 2024 - Adding exotic currency…
MOSCOW, RUSSIA - Media OutReach Newswire - 14 November 2024 - SIBUR plans to offset…
SEOUL, SOUTH KOREA - Media OutReach Newswire - 14 November 2024 - St. George’s University…
SINGAPORE - Media OutReach Newswire - 14 November 2024 - In the rapidly evolving landscape…
BEIJING, CHINA - Media OutReach Newswire - 13 November 2024 - The first-ever Global Alliance…