FitRichSane

2021-06-15 12:30:01 Nobody has control over their circumstances, whether good or bad.
Everyone can control how they react to these circumstances. Everyone.
You can go on cribbing about why some people have it better without working as hard as you. But will that change anything for you? It will. It will develop the failure mentality in you and maybe even in your family.
Rise above your situation, and focus on the best you can do. Do it. Years later, you'll be among the people whom people are very jealous of Open / Comment

2021-06-15 06:30:01 Believe it or not, ice-cubes can be a secret skin-care weapon

All you need is a bowl big enough to comfortably fit your face and ice-cold water.

Just take a bowl filled with icy water and dip your face in it for a few seconds. Lightly dab your face with a soft towel after that.


Benefits:
* It wakes you up, tightens your pores, and makes you skin feel smooth
* Fights wrinkles
* Brighten your complexion
* Helps in controlling blemishes and calms down inflamed acne
* De-puffs morning puffy face and eyes
* Reduces the appearance of dark circles over continued usage


DISCLAIMER: Consult a doctor about any possible existing allergies, sinus, etc.

For inspiration: Here is a video of Katrina Kaif demonstrating this:
https://www.instagram.com/p/BVMRtRxgPBA Open / Comment

2021-06-14 15:30:00 What are life hacks according to us?
Will we only suggest hacks?

A life hack is a small, incremental change in lifestyle that has the potential to give a huge reward.

It is not to be confused with mastery, which requires years of practice.

So we do we support hacks, when mastery is clearly is right way?

Because while you might want to be a master in your profession, in a hobby, at family life, no one can master everything.

Is there anyone who can master physical fitness, mindfulness, investing, earning, sports, cooking, physics, everything?

That is why we suggest that you should go for mastery in a few topics of your choice, and hack the rest. Even if you don't want to master it, everyone wants their money to grow, to stay physically and mentally fit, and to be near loved ones.

So please continue on the path of mastery you are on, and follow our advice to hack other areas of your life. Open / Comment

2021-06-14 12:30:01 The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.

–Thomas T. Munge Open / Comment

2021-06-14 06:30:13 Everyone knows that having a lot of money is good. But what is a lot of money? Would you feel rich if you were given 10 crore rupees today? Would Mukesh Ambani feel rich if he had only 20 crore rupees? It's impossible to define a single parameter to see if your financial life is wealthy. Here are a few you can judge yourself on to see if you are sailing smoothly, or if you need to work harder to bring it on track:

1) You should have some money left in your bank account from your salary at the end of the month. At least 10-20%.

2) Every December the total money you have is more than the amount you had in January

3) Are you risk-free? Do you have health and life insurance, and an emergency fund?

4) You are investing a part of your income, and you understand where you are investing, how much you will get, and when

5) You are not fearful of where next month's EMIs will come from

6) You have a rough idea of you short-term and long-term financial goals



From this list, or from your own mind, decide your definition of rich today Open / Comment

2021-06-13 15:30:13 One problem of managing your money is that Level 1 seems very useless, and thus many people tend to ignore it.

The fact is that there is no way you can reach higher levels without dominating the lower ones.

Even if you can't do everything that is mentioned, set your goals, and make sure you invest something before you start spending each month.

These 2 habits alone will make you rich

Can't stress this enough Open / Comment

2021-06-13 12:30:13 Just tell me where I will get maximum returns. I will simply put all my money there.

Even though it sounds counter-intuitive, it is not a good idea to place all your money in the investment that might give the highest return. Confused?

This is partly because the risk increases with the increase in potential return
And partly because returns of different investments are cyclical, i.e. one will give a better return today, and another one tomorrow.
Unfortunately, there is no way to know which one it will be today.

That is why we need personal financial planning specific to your goals and finances.

You will learn everything here with time Open / Comment

2021-06-13 09:30:19 FitRichSane pinned «Anonymous poll Do you have an adequate Emergency Fund? One that will let you sleep peacefully at night even if something unfortunately goes wrong with your primary source of income? Will it cover at least your survival expenses for 12 months?» Open / Comment

2021-06-12 09:30:02 Personal Finance Rules


*Rule of 72*

No. of yrs required to double your money at a given rate, U just divide 72 by interest rate
Eg, if you want to know how long it will take to double your money at 8% interest, divide 72 by 8 and get 9 yrs

At 6% rate, it will take 12 yrs
At 9% rate, it will take 8 yrs

*Rule of 114*

No. of years required to triple your money at a given rate, U just divide 114 by interest rate.

For example, if you want to know how long it will take to triple your money at 12% interest, divide 114 by 12 and get 9.5 years

At 6% interest rate, it will take 19yrs

*Rule of 144*

No. of years required to quadruple your money at a given rate, U just divide 144 by interest rate.

For eg, if you want to know how long it will take to quadruple your money at 12% interest, divide 144 by 12 and get 12 yrs.

At 6% interest rate, it will take 24yrs

*Rule of 70*

Divide 70 by current inflation rate to know how fast the value of your investment will get reduced to half its present value. 

Inflation rate of 7% will reduce the value of your money to half in 10 years.

*4% Rule for Financial Freedom*

Corpus Reqd- 25*Annual Expenses

Eg- annual expense is 500,000 then corpus required to retire is 1.25 cr.

Put 50% into fixed income & 50% into equity.

Withdraw 4% every yr, i.e.5 lac.

This rule works for 96% of time in 30 yr period

*100 minus your age rule*

This rule is used for asset allocation. Subtract your age from 100 to find out, how much of your portfolio should be allocated to equities

Age 30

Equity : 70%
Debt : 30%

Age 60

Equity : 40%
Debt : 60%

*10-5-3 Rule*

One should have reasonable returns expectations

10℅ Rate of return - Equity / Mutual Funds
5℅ - Debts ( Fixed Deposits or Other Debt instruments)
3℅ - Savings Account

*50-30-20 Rule - Allocation*

Divide your income into
50℅ - Needs - Groceries, rent, emi
30℅ - Wants - Entertainment, vacations, etc
20℅ - Savings - Equity, MFs, Debt, FD, etc

Atleast try to save 20℅ of your income.
You can definitely save more

*3X Emergency Rule*

Always put atleast 3 times your monthly income in Emergency funds for emergencies such as Loss of employment, medical emergency, etc.

3 X Monthly Income

You can have around 6 X Monthly Income to be on a safer side

*40℅ EMI Rule*

Never go beyond 40℅ of your income into EMIs.

Say you earn, 50,000 per month. So you should not have EMIs more than 20,000 .

This Rule is generally used by Finance companies to provide loans. You can use it to manage your finances.

*Life Insurance Rule *

Always have Sum Assured as 20 times of your Annual Income

20 X Annual Income

Say you earn 5 Lacs annually, u shud atleast have 1 crore insurance by following this Rule.



Be sure to understand that these are just starting points, will vary wildly from person to person Open / Comment