Creating *FINANCIAL INTELLIGENCE* (Basics)
We *FAIL* to *SAVE* because -
1. We fail to distinguish between our WANTS and NEEDS.
2. We fail to save because, We get excited and buy things on Short term excitement.
(Binge Buying)
3. We fail to save because of our ADDICTION BUYING. (Buying Anything that's new in the market)
4. We fail to save because we spend on products to show off to friends, relative etc to satiate our EGO.
*This in financial psychology is termed as EGO buying*.
5. We fail to save because we get lured to constant advertisements which apparently sow the seeds of NEED for the particular product.
6. We fail to SAVE because we get trapped into the EMI concepts of ENJOY today and pay later TRICKs of companies to sell their products.
*Roy's Mantra* -
Never ever Buy Depreciating assets using Loans/Credit cards/EMI etc....
*Deferring consumption in luxury and investing the same for next EMI years, would give You a lead in wealth building*
*FINANCIAL INTELLIGENCE*
- First be Financially Healthy
(You work for money) and then move towards becoming *Financially wealthy*
(Money works for you through multiple Passive income)
Happy Investing
*Biswajit Roy*
Financial Psychologist, Mentor and Wealth Strategist
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