Before you can leave your children a set of good money habits, you need to look at your own habits and decide if they will help or hinder your children when the time will come for them to manage their own money.

Starting early means that the Rs. 5 Lakh invested 11 years ago is a lot more valuable than Rs. 5 Lakh now. Combining this with compounding means that the amount will grow faster as the years pass.

Having money will not guarantee happiness, but not having enough could make us unhappy and stressed. We believe that money, when used properly, can actually be used to “buy” happy moments. Here’s how.

The one thing you need to do to master your money is to build the habit of measuring.

Emergency Funds are designed to help you deal with the unexpected. An emergency fund is typically around 3-6 months of living expenses.

Depending on how complex your investment needs are, you might want to consult a financial planner or rely on online investment platforms to automate your investments.

Let’s talk about the lazy man’s approach to investment. Some people call it “invest and forget”. However, as you will see from the following statements, it isn’t smart to just “forget”.

How you manage money is often linked to what habits you have. If, let’s say, you tend to over-eat, chances are you over-spend on fast food. Similarly, money habits decide how well, or badly, you manage money.