One of the essential things in everyone’s life is to manage finance. You might need to face a difficult time in case you are not managing your finance carefully. Finance Management properly in both long-term and short term.
This will initially help you to achieve both long term and short-term goals, within the expected period of time. In this article, we have provided the personal finance tips from Indian billionaires, which will help you to manage your finance better.
Best Personal Finance Tips Offered by Indian Billionaires:
- Mukesh Ambani:
- Uday Kotak:
- Anand Mahindra:
- Rakesh Jhunjhunwala:
- Ratan Tata:
These are the best personal finance tips which you can get from Indian billionaires. Read the complete details and follow the expert advice in order to manage your finance.
1. Mukesh Ambani:
- Keep track of your income.
This is the most important tip by the richest Gujarati and the managing director of Reliance Industries Limited Mukesh Dhirubhai Ambani. He states that there is no overnight success in the field of business, so you need to be dedicated and single-minded to complete your hard work. This is the most important tip offered by the richest person in India.
2. Uday Kotak:
- Make your money work for you.
This advice comes executive vice-chairman and managing director of Kotak Mahindra Bank Uday Kotak. He quotes that financial Management is much similar to a marathon if you run too fast you might get exhausted and if you want to slow you will not make it till the end. This much recommended to investing your money in various areas which will help you to increase money and your wealth.
3. Anand Mahindra:
- Always review your finance from time to time.
Anand Gopal Mahindra is the chairman of the Mahindra group with more than 20 active industries. He recommends that you need to check your finance from time to time, which will help you to check out the position of your finance. We also need to review the cash flow statement, as it will give you complete information about your expense and income. This will give you the complete idea about your assets and liabilities.
4. Rakesh Jhunjhunwala:
- Keep checking your expenses.
This advice comes from one of the famous Indian billionaire trader and investor. Recommends that you need to be a paranoid of success which will help you to grow financially. He also uses a specific rule of spending which can be helpful for each of us. He confirms that we need to follow the following formula in order to keep tracking the expenses.
Income – Savings = Expenses
So, we need to minimize the expenses as much as possible, which will help us to achieve financial growth.
5. Ratan Tata:
- Make your emergency fund a priority.
He is the ex-chairman of Tata Sons, Ratan Tata claims that if you want to be successful you need to you manage your own finance which will help you to grow further.
You need to invest in various mutual funds, as it will help you in times of uncertainty and emergency or even in the times of unemployment. He also recommends to invest in health insurance, which will help you in times of distress and it can be managed by decreasing the expenses.
Personal finance tips are much important in your life, which will help you to grow your financial condition. It is a better option to have tips from Indian billionaires, who have gone through each and every phase of finance in life.
We have collected complete information from the well-known Indian billionaires and posted them in this article for you. Share this important article with others, so that they get to know about the important tips which can help them in financial management.