Golden Financial Mantra’s.

Some very important financial tips that everyone should know ….

1. Avoid buying property on loans as it eats most of your earnings unless you have a clear plan for its repayment. It’s important to monitor cash flow. Though, the house will be your asset, your liability will be much more.

2. Start a SIP at a very young age. Try to save atleast 15–25 % of your earnings.

3. Avoid buying a car unless you use it everyday.
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4. Do not let this sentence scare you. “Mutual fund investment are subject to market risk. Please read the offer documents carefully before investing”. Most people avoid investing in mutual funds just because of this one warning. Yes, there is a market risk, but look at the history and growth of mutual funds.

5. Try having a simple wedding.

6. Atleast 20% of your wealth should be liquid so you can utilize it when necessary.

7. Considering inflation, you are actually losing money if it is in savings bank account. Do not keep huge money in savings bank account.

8. If you invest in stocks, pay due attention.

9. If you invest in stocks have a separate account for delivery investment and Intraday investment. It is easy to monitor this way and also makes tax calculation easy

10. Do not have a belief that property and car make you rich. Its what you save and invest, that is important.

11. Never invest in insurance for returns. Insurance is not an investment option. It is a risk management tool.

12. Never use credit cards for lavish spending. Use credit cards intelligently and for needs not for wants.

13. Cancel all credit cards before you die. Or inform family about all your accounts, credit cards, loans and saving now itself. Even a small residue will cost your family much.

14. Invest on yourself and then on other investments.

15. Always try to balance your earnings with your savings first, then on spending and loans. Never take unnecessary loans. Always have reserve and utilise them and unless no other go never take loan.

16. Always have a plan for future events on your career, life, spending and finance.

17. Always have a reserve on your savings for contingency and urgent situations.

18. Your personal life and health are the most important investment. Do have a regular health check and do healthy workout every day. Stay healthy and live happily.

What you need to know about Yes Bank Q2 Results

YES Bank is India’s 5th largest private sector Bank and has been one of the best performing banks over the last decade.

The Private sector lender announced its Q2FY18 results and it proved to be a historic quarter for the Bank as its net profit rose 25.1 per cent year-on-year (YoY) to Rs 1,002.70 crores– the 1st time that the quarterly profit crossed the mark of INR 1,000 crores..While the Bank saw a rise in its Non-Performing Assets (NPA), the ratio at 1.82 percent is still better than most of its peer Banks.

Another key metric “loan growth” also showed momentum with a 35% year-on-year growth in total advances, which was spurred by 78% growth in Retail Advances. This growth in retail advances shows that the Bank is garnering market share in Retail liabilities and deposits. With the CASA ratio having improved to over 37%, this is definitely a good sign for the Bank’s performance.

The bank faced a setback as Divergence as assessed by RBI was at INR 6,355 crore. However, it was good to note that the Bank has been able to resolve/recover over 81% of this Divergence and the impact of this divergence to the NPAs was at INR 1,219 crore. This shows strong recovery mechanisms and should continue to help the Bank with its Asset Quality. Yes Bank has also been growing by leaps and bounds in the Digital Banking space and has built some great solutions to address various payments needs of consumers on corporates. Case in point, is their UPI – Unified Payments Interface leadership where they have grabbed a market share of 65% in merchant payments on the UPI platform.

In summary, except for a minor blip in Asset Quality, the Bank has shown strong operating performance and is capitalising on its growing retail franchise as well as increased digital capabilities backed by technology.

Angad, son of Bali and Sampati, Jatayu's brother who played a vital role in locating Ravana's coordinates In Lanka, Turning around Angaad's mission in life while getting back his wings #ramayana

Angad, son of Bali and Sampati, Jatayu's brother who played a vital role in locating Ravana's coordinates In Lanka, Turning around Angaad's mission in life while getting back his wings #ramayana

Pearls of Financial Wisdom

1) Bonds are for storing wealth and equities are for creation of wealth.

2) In my opinion, the biggest asset one can have is zero debt.

3) The greatest discipline in personal finance is living below your means.

4) As Ben Carlson says, emotions cannot be back tested. That’s why past bear market always looks like opportunities and future ones scary.

5) Early financial independence and early retirement are completely different. To me, the former is a blessing and the latter is a curse.

6) Don’t think how it would have been if you’ve started 10 years ago. Start today and visualise how you would feel 10 years from now.

7) The neighbourhood we live determines our life style & spending. Need to be careful in choosing one which matches our goals and personality.

8) Paying minimum balance regularly on credit card is the maximum sign that you’re getting into debt trap.

9) Many are long term investors till next bear market.

10) Don’t take aggressive bets. Take measured risk. Remember one blunder can push you back by a decade or more in terms of wealth.

11) Big money can be made through high savings, wise investing and lots of patience.

12) One sign of progress in individual investor’s portfolio is no churn or very less churn.

13) Trying to get rich fast is a foolproof way to lose what we have.

14) Losing opportunities is far better than losing money. Don’t invest in fads.

15) ‘Making as much money as quickly as possible’ is not an investment strategy. Unfortunately for most of us that is the strategy.

16) Aggressive strategy cannot be a substitute for high savings. Save high and take moderate risk than saving less and taking high risk.

17) The day we realise not losing is as important as winning; we would stop blindly chasing returns.

18) Good periods are more than bad periods. By not timing, though we go through bad periods, do not miss even a single good period.

19) We’ll stop looking for quick money the moment we consider stocks as businesses and realise that our wealth grows in line with business growth.

20) There are periods of high returns, low returns, no returns and negative returns. We need to go through all these to get long term returns.

21) Listening to market forecasts is not only useless but can be very harmful too if you start acting on them.

22) The hard truth is only around 3% of our population are in a position to aspire for financial independence. Don’t waste this rare privilege.