The TOP 4 — Dangerous Money Mistakes most Indians Make Unknowingly.
What you’ll learn in this article: What are the TOP 4 Money mistakes, most Indians make, and how You can avoid it easily.
In this world of blazing-fast transactions that happen every second of the day through mobiles, computers and some times in cash. Nearly 50 years back it used to be only cash, majority of the time. However, as the time is changing, our Indian & the worldwide economy is going through a major slow down. The 2 primary reasons behind it are — massive default in loans and Automation in Work environment i.e. human power at jobs is getting reduced by the introduction of intelligent robots. And within just a few years we will be able to see Automatic Self driven cabs like Uber everywhere. It's not a joke. Its the reality. The pilot testing of this project recently happened in Dubai.
So more than ever, we should be highly concerned about money and how we spend it. As I’m from Kolkata, West Bengal, India, I’ve seen many of my relatives, friends, clients near and dear ones blindly spending their money and then regretting it later on, for having no strong savings to support them during an emergency. In the span of 3 years of my finance business, I’ve seen this same pattern again and again, and I want to help you not to fall into this deadly trap by giving you the right information which has helped me personally. So, the Right Time is now to pay close attention to this mess and solve it
The TOP 4 — Dangerous Money Mistakes most Indians Make Unknowingly are as follows →
- Buying stuff online which doesn't pay them or help them in growing their Career — That is unnecessary buying of clothes, cosmetics, cars, bikes, etc. etc. with the only motive to impress other people or just to have our own personal ego boost.
2. Planning 1–2 Holiday trips in a year with the Saved Money from hard-earned Income — this is the most dangerous path to take, cause the young generation these days have the strong urge of traveling and exploring areas and then coming home with lots of good travel memories but zero money in the bank, which puts lots of stress & frustration in the mind.
3. Saving money just to save — Many of us do that unknowingly cause we have been subconsciously preconditioned by watching our parents or listening to others. See, the time has changed, saving money just to save, is completely a wrong idea, cause money with the passage of time is losing its value over time. Don't believe my words just wait for a second — — — — — — — — — and now think 10 years before what was the price of petrol & diesel for 1 lt and what's the price now.
Price in 2009, for 1lt of oil, was — — Petrol- Rs 44.67 & Diesel- Rs 30.86
Now as on 27th December 2019 after 10 years, the price of 1lt of oil here in Kolkata costs — Petrol- Rs 77.40 & Diesel- Rs 69.66.
The quantity is the same but the price has increased. And this gap will keep on increasing year by year due to inflation. This phenomenon is happening not only in India but all over the world. Always remember the stack of money that is sitting on the bank and getting a little 5–6% interest per year is also coming down.
4. Depending on 1 flow of Income — This is a very lethal position to be in cause if that 1 flow of income stops then that person and his family come back to point zero.
This is the first time I am posting this information and no one has it. NOW is the time to understand the situation as it is and become smarter for the future with our own earned money. Share this information with your loved and dear ones to save their money from losing it mindlessly…
On my next blog, I will share the basic 3 Ways to handle money properly, no matter if you are earning 20,000 per month or 2 Crore per month.
If you like these short informative articles and want more then — Follow me on other sites where I keep posting New ways for free - to make our life better & easier.
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