‘Personal’ Finance guidelines

As it is about an individual or a family and is also dependent on certain variables , hence the term ” ‘Personal’ finance”.

We cannot just read about personal finance from books, blogs, newspapers and put it into practice. It has to be customized and ‘tested’ to see what works best for us.

The spending, savings and investment pattern has changed in last few decades. Our parents belong to a generation which used to save and spend.

Our generation spends and then if something is left, tries to save. Ours is an age of instant gratification-it here and now or never.

Thus the savings and investment behavior also has seen a paradigm shift. The total credit card penetration in India as of June 2018 was 39.7 million. That figure is trivial in comparison to our population. However, people mostly have a conflicting relationship with their credit cards!

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