the M word

Gentlemen, we all have goals, dreams and plans for the future. And it's obvious that to achieve those goals, to make those dreams come true and those plans to work accordingly, we have to make it certain that we are preparing for them and our actions are directed towards them. I'm 19 and you may have already guessed it that I have A LOT OF GOALS and since I wasn't born with a silver spoon in my mouth, I've been learning on how to have that silver spoon . So allow me to share 5 tips on how to be one with a silver spoon, specially if you're 19. Even if you're not 19, these advices work well on any age. 1.  SMART Financial Goals: "I'd totally want to be an architect and build the most iconic rennaissance house for meself, but the problem is I have no knowledge about architecture. But it's a dream and dreams come true." This goal sounds just as not having this goal in the first place. The dreams we are having, the goals that we set, should be SMART...

What is Compounding? Compounding to basically put it, is making your money earn you money. How? Compounding is the interest calculated on your initial principal (a sum of money) and also on all the accumulated interest it earned from previous periods. For instance, let's say you deposited at the start of the year Rs. 100 into your account which provides you an annual interest rate of 3%. By the end of the year, you'll have Rs. 103. For the next year, you'll earn interest on that new sum Rs. 103. The Power Of Compounding "Compound Interest is the eight wonder of the world. He who understands it earns it, and he who doesn't pays it." Compound Interest is a miraculous thing. It creates a chain-reaction by earning returns on your returns if and only if your money remains invested. Let's see a practical example. Here Earl opts for interest compounded annually, whereas Carl opts for interest calculated as simple interest. Particulars Earl  Carl  ...