Decoding Personal Finance

  4 MUST HAVE FINANCIAL HABITS  Wealth creation and effective money management is an art that very few are able to crack. It  is easy to discuss but difficult to implement.  Probably that is why there are more advisors and less actually wealthy people!  So what is it that people do differently? When it comes to money, many people make very common but crucial mistakes that make all the difference in wealth creation and wealth destruction. These mistakes can prove to be expensive as they hurt the present and their financial futures if not corrected in time. Here are four good financial habits that must be incorporated into your life to improve your current financial status and secure your future.   Set a budget and stick to it! Budgeting is an important habit that can positively impact your financial well-being. To make changes and ensure that you live within your means, use your budget to understand your expenses better. Distribute your expenses into regular and discretionary. As a thum

  RBI puts a pause on further Rate Hikes: What does it mean for you?   In the bi -monthly Reserve Bank of India (RBI) monetary policy, post the three days of deliberation by the Monetary Policy Committee (MPC), RBI chose to press the “pause” button on further interest rate hikes for now. After a series of rate hikes (5 in total) and an increase of 2.5% in the repo rate, this move came as a surprise to many. The surprise was understandable, given that the inflation has still not cooled down to comfortable levels and in the West, the FED has actually increased the Interest rate by 0.25%. The Repo rate is the rate at which RBI lends to other banks and is considered the base rate for other rate increases. On Thursday, RBI kept the policy repo rate under the Liquidity Adjustment Facility (LAF) unchanged at 6.5%, the Standing Deposit Facility (SDF) rate unchanged at 6.25% and the Marginal Standing Facility (MSF) rate and the Bank Rate unchanged at 6.75%. A rate hike pause, when the general