Money Magazine ( Money logs )

"There is no greater Harm than that of time wasted." ~ Michelangelo We are all aware of the artistic genius that was Michelangelo and his most beautiful piece of work: the Sistine chapel in Rome. Before you think there’s no link of him to money, let me assure you there isn't; but for this beautiful quote of his that cannot emphasise more the value of time. I've often heard friends /clients say " I'll start saving once I get married, I'll start saving once I'm 30, I'll start saving once the sun rises from the west " etc.. The excuses are many.

Savings go a long way in taking you out of troubles during rainy days but not everyone has enough money saved in their savings account that they can look up to in the time of need. Creating a good savings habit is a must in today’s times because expenses are increasing while salary hikes happen sparingly.

Managing money is one task each and every one of us is confronted with on an everyday basis. Most often it is seen that one works very hard, earns well, splurges and then there is hardly anything left for the proverbial rainy day. This vicious cycle continues and when an emergency pops up, one is left to face the ugly truth that you may be broke. In such a situation it would be worthwhile to consider what are some of the bad financial habits that makes one go broke. Being financially independent doesn't mean earning alone, it means using your money judiciously and at the same time making money work hard for you.  

Investment is the best way to secure your future financially. While all of us want to invest our money, each and every individual investor has different goals when he thinks of investing his money. These goals can be short term as well as long term. If you are looking to invest your money for a short time period, there are a variety of short term investment tools available at your disposal.

Unprecedented financial emergencies can put a dent in your funds. Having accessible and ready cash supply can benefit you in times of unforeseen expenses such as credit or debit card debt, pawning of valuables and other emergency costs. Several advisors will suggest you to set aside cash for a minimum three or even six months. However, time and amount of cash you have to save are two crucial factors that need to be considered. It always pays to make a conscious decision with regard to items that are worth purchasing and the money that you will be saving.

In today turbulent and uncertain economic conditions, followed by unrest in socio-political factors, financial planning has become order of the day. This holds true for people associated with business or working class professional to a homemaker. It is imperative that one invested money in plans that yield benefit. There are several reasons that might hinder financial planning, even if one has made wise investment.

Ask any financial expert about your options to invest your money if your time horizon is more than 5 years. The chances are high that he will suggest equity MF's as the best option. Now ask him what are the best option if you want to invest for less than 5 years. The chances of him suggesting equity MF's now will be much lower. But this is a common concern for many people. People these days don’t have 5 years to wait. They cannot invest for such a long time. So what are the best options for someone who needs his money back, with decent returns in less than 5 years? The answer to this question will depend on the time that this person can wait. So assuming that the deadline can be anywhere between 3 months and 5 years, let’s explore the available options.

Oh shit money is nothing but emergency fund which is very resourceful when you are stuck in Oh Shit Situation. Let’s call it Oh Shit Kitty. An Oh Shit Kitty is an easily accessible stash of money for use only in case of oh shit situation. It is not to be used to buy a new car. It is not to be used to buy a new PlayStation. It is not to be used to remodel your bathroom. It is for use only in case of emergency.

Getting Rid Of Student Loan First things first: If you have student loans, you aren't doing yourself any favors by waiting to see if your lender notices you've graduated. Some loans have what's called a "grace period," or a year gap after you're finished with your education, ostensibly to allow you to set up an income. The thing about grace periods, though, is that interest continues to accumulate - so if you can start making payments immediately, it can ultimately save you money.