10 golden money rules that can make you a millionaire
In my experience, lack of financial literacy has been the main reason why people have not made the best use of their money. Their potential to become millionaires has, therefore, unfortunately remained unrealised.
November 10, 2011 / 17:10 IST
By Sanjay Matai
In my experience, lack of financial literacy has been the main reason why people have not made the best use of their money. Their potential to become millionaires has, therefore, unfortunately remained unrealised. Worse, they have repeatedly fallen prey to fraudulent schemes. If you want financial success, this has to change. You have to become more vigilant about your financial matters.For your convenience I have listed below 10 Golden Money Rules that are the catalyst to your millionaire-aspirations. 1. Invest in financial lessons before investing in financial assetsYou don't drive without learning driving and getting a license. Do you? Similarly, you need to first learn how to acquire good assets and manage them appropriately.2. Have a detailed Financial RoadmapWithout one you could easily get lost in the financial maze and may not reach your goals. Get yourself a financial GPS.3. You are unique. Hence, do what suits youBlindly copying others is not a good idea. Your assets, liabilities, needs, desires, time-frame, risk-appetite are different from your friends, neighbours, colleagues, relatives. So naturally, your investment pattern too has to be different from them.4. Keep things simpleA simple term plan, a simple mutual fund, a simple medical insurance plan, etc. will work well in most cases. Don
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
