Let's Talk Money: You've Worked Hard for It, Now Make It Work for You

by Monika Halan

My salary account I label ‘Income Account’. The second account I call ‘Spend-it Account’. The third is called ‘Invest-it Account’.

ensure that you have a policy that does not have something called a ‘co-pay’ clause.

The day you realize that it is in your best interest to separate your investment and insurance products, is the day you move solidly towards building your financial security.

The job of the life insurance cover is to serve you till you are debt-free and financially independent. The moment that happens you can stop your term insurance plan.

Money is never in plenty in the early years. But getting into debt to fund current spending is not the way out. Either find a way to raise income or spend less. There is no third option.

We all need to remember this: We are not stock market traders or speculators. There is a role for day traders and speculators in a stock market – but you and I are not traders. We are investors. Understand that difference.

We don’t need a lot of money first to start investing. We need a lot of little money streams to keep gathering to make a large corpus.