FitRichSane

2022-06-06 09:30:23 If someone finds themselves deep in debt, or in a repeated debt cycle, remember that there is no magic wand that will solve your troubles today. However, if you decide to flip your financial life around, here are a few of the steps you can take:

*Rank debt in order of their cost and deal with the costliest debt first. Typically, credit card dues and personal loans will be the most expensive, and work to eliminate them from the outstanding debt list. Low cost debt and debt that provide tax benefits such as home loans and education loans can be dealt with later when finances permit.

*If the cost of debt is high, then cheaper re-financing is an option. A lower cost loan can be availed to repay the costlier loan. A credit card balance transfer is an example of such refinancing

*possibility of extending the tenor of the loan can be explored. This will reduce the monthly outgo in debt servicing. However, the loan will be repaid over a longer period of time and the total interest paid over the tenor of the loan will go up.

*If none of these is possible, then the borrower should inform the lender about the problem and explore a revised loan schedule. It should however be noted that such re-scheduling of loans hurts the borrower’s credit history (also known as credit score like Cibil score).
This will affect the chances of obtaining loans in future or the cost at which they will become available. Open / Comment

2022-06-05 15:30:48 Open / Comment

2022-06-05 09:30:56 Should I invest in stocks for dividend?


Whatever you do, don’t buy stocks that aren’t expected to appreciate in the future.
For instance, if a company pays 5% dividend, but the stock price falls to half, you will be left with 2.5% dividend, along with a loss of capital.


Pros:
*Probably the only investment that gives a regular income as well as a chance of capital appreciation
*Capital appreciation in the stock market is notional till you book it. Dividends put money in your pockets.


Cons:
*Dividends can give you a regular income, but keep in mind that the stock price adjusts (decreases) accordingly once dividend is paid.
*In short, dividends are not payments you receive over and above capital appreciation, they are taken out from potential capital appreciation and paid to you.
*The company can decide either to pay dividend from their profit, or to reinvest the profit into the business. The reinvestment can also potentially lead to better earnings, and ultimately better stock prices.
*Even if you get a good dividend, but the stock price falls, it is an overall loss.
*Please note that just because a company has been declaring good dividends for a few years, that company is not obliged in any way to continue to do so.

Everyone has their own investment styles they are comfortable with. If you want to invest for dividends, learn everything about it and go ahead.


If you want to purchase shares of a company for dividend, take care of the following points:
*The dividend payout ratio is the ratio of total dividend paid by the company to its total earnings. It should be at least 40%.
*This is not to say that companies that don’t give dividends have anything wrong fundamentally. It is perfectly fine for a company to wish to reinvest profits to grow their business.
*The dividend yield (ratio of dividend per share to share price) should be at least 4%.
The dividend amount in itself is a useless statistic for now
*The company should have a long history of consistent dividends
*The company should not be fundamentally weak Open / Comment

2022-06-05 06:30:31 Eating slow is among the best life hacks

It's free

It's peaceful

It takes over 20 minutes for your stomach to tell your brain that it is full. If you eat a lot before that happens, of course you end up eating more

It's way easier for your body to digest chewed food Open / Comment

2022-06-04 15:30:13 Platforms like Iconomi show you a list of various traders on their platform. This is alongwith their details like past performance, funds managed etc.
You can copy their trades with one click.

Needless to say, this is extremely risky Open / Comment

2022-06-04 12:30:41 One of the advantages of Vauld is that you can buy crypto, invest with them, and earn interest.

Other platforms that offer this are Youhodler, Celsius Network etc. Open / Comment

2022-06-04 09:30:22 As my posts have suggested in the past, I am not a huge fan of investing in crypto.

I try to experience most platforms personally before mentioning them here, but this is not possible in this case as I invest a tiny portion only in this asset. Please read more about any service I am writing about here.

In any case, if someone wants to invest, here are the three of the most popular platforms:
*Binance, which is famous around the world
*WazirX, most used in India
*Vauld Open / Comment

2022-06-03 15:30:49 Open / Comment

2022-06-03 12:30:56 Open / Comment

2022-06-03 09:30:06 We live in digital times.
With work-from-home becoming common for more and more people, we are saving time and traveling energy.

On the other hand, our bodies are suffering due to a lack of activity. Our eyes, in particular, are taking the strain of professional as well as personal screen time.
It's not uncommon to find our eyes dry and itchy.

I highly recommend finding 5 minutes everyday to exercise your eyes.
You can search for eye exercises/ Yoga on YouTube and do the whichever one suits you, at least a few times a week.

I found this one by The Art of Living rather effective:


Open / Comment