Growing a Money Tree Needs Patience and ... - Personal Finance

A tree gives us shelter, food and a variety of by products. We all want such a Money Tree. But the Money Tree cannot be grown overnight and takes a lot of patience and discipline while it grows it?s deep roots. And there are no short cuts to growing a tree!

The following links have been taken from my column on?Bihardays, titled Money Tree

Money Tree-Lights, Camera and Action Steps on Money Management

MoneyTree is back. To some of you who doubted if the MoneyTree was dead, let me assure you that the ?Tree? was growing roots that were not visible above the ground! You must have heard of the tale of two friends who planted seeds at the same time. While one friend was happy that a sapling sprouted up in quick time, the other friend was worried as there were no signs of anything coming up from the seed he planted. However in time, while the first sapling grew up to be a shrub, the other plant that took it?s own sweet time, grew into a giant Tree.?

Money Tree- Real Example of Mis-selling and the Cost of Free Advice

In the last column of the MoneyTree, we discussed the cost of free advice . The assumption was that the commission based advice sets you back by just 2% in return. And this 2% setback translates into Rs 1 crore over a period of 30 years. Let?s take a live case and see that the cost of free advice can be much more monstrous. Dr. Kumar De (name changed) is a renowned Doctor in Kolkata. Despite being an expert in his field and being a man of intelligence and maturity, he?s at the receiving end of the free advice givers

Money Tree ? Cost of Free Advice is more than One Crore!

Why pay for financial advice when you can get it for free? You get it free from friends, colleagues, relatives, bank executives and insurance agents, right? But have you ever wondered that the free advice might cost you a lot of money? For example, if you buy costly insurance plan that you don?t need or a mutual fund that does not suit your investment profile, you will lose much more than the annual fee of a financial planner. True Financial Planners are not Advisors or Product Sellers and they prepare a Financial Plan...

?

Money Tree ? Getting started on Your Financial Plan

?

I always believe that life unfolds itself, and with utter disregard for your plans to achieve this or that. But I guess,?Dwight D Eisenhower?is more articulate. Read on. Plans are worthless, but planning is everything.?There is a very great distinction because when you are planning for an emergency you must start with this one thing: the very definition of ?emergency? is that it is unexpected, therefore it is not going to happen the way you are planning. (Eisenhower quotes) What is a Financial Plan Financial...?

Money Tree ? Using Tools and Technology for Managing Money

To get started on financial management, you need to start measuring your financial situation first. Because once you start measuring things, managing them becomes clearer and easier. For most of us, this means balancing our checkbook and listing out our investments in a notebook (In MS Excel these days). Right? Smart people would be setting up a detailed system and software that tracks expenses, optimizes income and tracks savings and investment. They know that?there are several downsides for not maintaining...?

Money Tree: The Four Parameters of Analyzing Financial Products

The first thing most people want to discuss with me, when they come to know about my background in the financial services industry background, is, whether they should buy this financial product or that. I start with the observation that since everyone has different financial goals and risk appetite, this discussion can take a long time. I also pitch my RupeeCamp to them. ? Moreover, since we are not talking about buying potatoes and onions, let me articulate on the things to look at before you make the...?

Money Tree ? How we buy Financial Products

Buying financial products is often about taking decisions automatically with the mind working subconsciously rather than taking rational decisions of the mind. Let me share some important research on the subject. The first research is about how emotional ads are processed quite differently by the brain than those that appeal to logic.?Link Excerpts: Researchers had subjects view different ads, some that used logical persuasion to sell, and others that used what they called ?non-rational influence? ads.

Please Search Here for more stories of your interest. Thanks.

Subscribe to our feed and get updates in your email inbox Send your feedback and any questions to editor@personalfinance201.com. Thanks.

Source: http://personalfinance201.com/money-links/growing-a-money-tree-needs-patience-and-discipline.html

erin andrews erin andrews Pepco tour de france instagram Magic Mike Anderson Cooper Gay