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Financial Freedom Rules

by | Dec 23, 2017 | Basics, Finance

  • The first and the most important rule is to have an exercise plan. It need not be strenuous or even a detailed workout. If you don’t exercise at all, start with 15 minutes of walking. Once you start, you’ll immediately feel the euphoria and it becomes difficult to stop. Preferably work with a partner. Bad health can destroy the most well laid financial plans.


  • Buy Mediclaim – one should have Mediclaim from Birth to Death. Policy should be for at least Rs.5 lacs.


  • Invest in yourself. Continuously teach yourself something new or upgrade your current skills. Take an online course. Learning skills increases your value. Preferably learn a skill which will generate an additional stream of income other than the job that you are currently working – say, website development, giving tuitions, writing a book on cookery or exercising.


  • Have 3 – 6 months of expenses as an ‘emergency fund’. Emergency means either loss of job, serious sickness, etc. Never to be touched in normal times.


  • INVEST (not save) 15 – 20% of your income as soon as it is deposited in your bank account.


  • Do NOT buy Life Insurance unless someone is dependent on your income. If someone is dependent on your income, then only go in for Term Policy. Insurance should never be considered as an investment. The sum assured should be at least 1 cr and policy should end around the age of 65. 


  • Meditate – even for a few minutes a day. Most of the wealthiest people in the world meditate.




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Written By: niranjan

Financially Stupid Niranjan


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