On being a life long learner

MONEYMONK WEEKLY MESSAGE 21/2019

On being a life long learner

Want to be a life long learner ?

Learning can be joyful and what better than a life time of joy , to enjoy  a rich learning life requires having an Integrated health and you can work towards having It. It consists of  Physical, mental, emotional, spiritual and financial health.

An important factor in the learning process is overall wellness. Wellness means taking care of all these aspects.  If you feel overall wellness , then it is  easier to learn. The stress of life is more easily managed if you maintain balance in your life. These components are all integrated and influence each other.  

Each of these aspects of integrated health can be developed or improved upon is my belief and experience. I plan to share some salient aspects of my experience in the next few weekly messages . 

Many a  times it is difficult to control the events in your world, but you can control your response and this state of integrated health along with feeling of overall wellness help you to respond to all events in your own personal best interest .

                                                 www.moneymonk.me

Note:

Earlier messages are posted on my blog https://moneymonk-joe.blogspot.com/

_________________________________________________________________

If you or any of the people you know want to receive this weekly message they need to send a request mail to learnfrommoneymonk@gmail.com

___________________________________________________________________

On Personal Financial Management

                                   MONEYMONK WEEKLY MESSAGE 20/2019 

 On Personal Financial Management To succeed at managing personal finances well and hoping to achieve 

 Financial Freedom requires you to develop a mind set and attitude. This can be easily done, here are some

  points for you to note 

 1. Giving Importance and priority to regular savings 

 2. For savings to be regular it is important to have adequate term and health insurance and emergency fund 

 3. You need to invest in your self first by learning how to invest with minimal risk and monitoring it with 

 minimum time so that you don’t lose focus from your main job or profession. 

 4. Not procrastinating and postponing writing of daily expenditure and comparing it with monthly budgets,

  earlier you learn that some things have to be done simultaneously and not sequentially. Personal financial

  aspects is one such activity . 

 5. Time management to develop a habit of leading a balanced life. These points, point to having an integrated

 good health which has a few subsets included. These aspects are simple but not easy to practice. They are

 very important to lead a balanced and happy life. I will be highlighting on these aspects in the next few

 messages. 

My experience of last over one year has seen over 80% drop out as they don't reach the stage to start learning

 investing . One on one method adopted by me along with the freedom to give for charity whatever you want

 to per session takes a lot of my time. Elimination leaves only the serious ones whom I can give time . I have

  plans to scale up only if more of the right learners are there. Do you have it in you to achieve Financial

  Freedom ? Do refer to those who you think are suitable .

                                                        www.moneymonk.me 

 Note: Earlier messages are posted on my blog https://moneymonk-joe.blogspot.com/ _________________________________________________________________ -------------------------

 If you or any of the people you know want to receive this weekly message they need to send a request mail to learnfrommoneymonk@gmail.com ___________________________________________________________________---------

MONEYMONK WEEKLY MESSAGE 19/2019

Minimalism

There is an hour long documentary on Netflix on the subject. I recommend all to see it. This concept is good if adopted and will help you in achieving Financial Freedom and leading a happy life.

Two reasons for this are :

1. It helps in saving more and maintaining your savings rate

2. It is easy in life to raise your standard of living and get used to luxuries beyond your needs  but very tough if you have to face any reversal in your fortunes and make do with less.

When you become rich you have the right to use or even abuse  that money but you do not have the right to waste resources. The natural resources like food and water are in short supply for all human beings on our earth and you do not have the right to waste these.

Minimalism when practiced will help you find and lead a balanced life. Behavioral aspects and developing right attitude towards learning, life and money are essential to achieve Financial Freedom and lead a happy life. Being a learner at all ages is required to invest in yourself. I will use next few weekly messages to explain these essentials further. 

www.moneymonk.me

Note:

Earlier messages are posted on my blog https://moneymonk-joe.blogspot.com/

_________________________________________________________________

If you or any of the people you know want to receive this weekly message  to send a request mail to learnfrommoneymonk@gmail.com

___________________________________________________________________

___________________________________________________________________

MAGIC OF COMPOUNDING

MONEYMONK WEEKLY MESSAGE 18/2020

Magic of compounding

What is compounding ?

When a sum of money is saved/invested in an account  like PPF regularly every month. Interest is added to it periodically and the interest earned again earns interest thus getting compounded. Over longer periods the growth is magically high and thus is ideal for creating retirement funds.

Example

Rs.1000/- saved and invested every month in Provident Fund which gives 8% return annually grows as under (figures are approximate)

20 years  Rs. 6 Lakhs

25 years        10Lakhs

30 years        15Lakhs

40 years        34Lakhs

Key points to note

1. Regular savings

2. No withdrawals

3. Longer the period better the savings grow.

4. Requires financial discipline but makes for a happy retired life.

www.moneymonk.me

Note:

Earlier messages are posted on my blog https://moneymonk-joe.blogspot.com/

_________________________________________________________________

If you or any of the people you know want to receive this weekly message they need to send a request mail to learnfrommoneymonk@gmail.com

___________________________________________________________________

SELECTING PLACE TO BUY A HOUSE

MONEYMONK WEEKLY MESSAGE 17/2019

Selection of place to buy a house in cases where employer provides a house/ house rent allowance

Place selection is critically important and will affect your long term financial planning as well as achieving the goal of Financial Freedom.

Many such people are in jobs which are transferable and away from their native place.

Here are some key points to consider when buying a house in such cases :

A.     Cost of the house, EMI and rental value as well as tax benefits for housing loans.

B.      Located at a place where some one close and trusted can look after it while you are away on job. Looking after will involve repairs and maintenance as well as follow up for rent recovery.

C.      Availability of margin money to raise housing loan.

D.     Cost benefit analysis at the selected place and time it will take for the rent to repay the housing loan. You may need to supplement with your savings for some time.

E.      Local laws and rules which are favorable to rent the house safely.

Once the place selection is done and a house is purchased don’t forget to take insurance cover for the loan as well as the house property.

www.moneymonk.me

Note:

Earlier messages are posted on my blog https://moneymonk-joe.blogspot.com/

_________________________________________________________________

If you or any of the people you know want to receive this weekly message they need to send a request mail to learnfrommoneymonk@gmail.com

___________________________________________________________________