“The current recession is a headache and in addition I’m paying large amounts each month on rents, shopping and utilities while struggling with the unfriendly banking policies. Though I earn a lot more money in the Gulf, I still haven’t managed to accumulate enough. I have barely any investments to ensure that I will retire ‘wealthy’ in the future.”
Sound familiar? Then know that you are not in a group of one. Most of us have our financial destinies linked to the actions/ fortunes of our governments, employers or the stock markets; fluctuations in which often hurt our personal finances.
Dr Finance aims to heal such distressed finances using therapies based on the age-old principles of frugal living and prudent investing.
Over the coming weeks, we’ll be addressing various issues related to the recession, job losses, debts, household expenses, mortgages and loans, credit/ debit cards, travel planning, investment tracking, financial planning and so on.
So write in to me - let’s toss across ideas that are free from complicated financial jargon and are enjoyable, practical, personal and most importantly – effective.
If your finances are brutally battered, you can consult a professional financial therapist like a CPA, CFA, CFP (for a fee, of course) but if you are committed to changing your financial fortunes on your own merit, then all you need is a bit of vigilance, patience, sacrifice and discipline.
Some of the tricks, tips and tools discussed on this forum might sound obvious or completely outrageous. But every penny saved will gradually add up in a big measure, ready to be applied in your investment portfolio.
Change the way you plan your expenses to change the way you spend. That’s how most of the first-generation millionaires around the world earned their fortune.
LET ME KNOW : Did you find the Dr Finance Budget Planner useful? How has it helped alter your spending habits? Do write it in to share with your fellow readers.
Disclaimer: While we have made efforts to ensure the accuracy of our content (consisting of articles and information), neither this website nor the author shall be held responsible for any losses/ incidents suffered by people accessing, using or supplied with the content. For expert financial/ legal opinions consult a qualified professional.
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