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Whats the best financial advice you can give?

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Deal Subedar
just_talk
Share the best financial advice you can ever say to someone who has just started earning.
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Pro DealBaba Pro DealBaba
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Keep earning grin

Deal Lieutenant Deal Lieutenant
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1) Dont be greedy, and 

2) learn maths around percentages and how to calculate yourself first before doing anything

3) Avoid trading and back testing: Dont get into the habit of 1% profits daily which equals to 365% and if you added compounding to it, then it much be more than 1000% return in a year lol lol SO AVOID INTRADAY WHEN YOU ARE NEW (which the brokers will hide and push you into intraday obviously)

4) becalm and stay calm DONT WAVER ON SEEING ANY NEWS this is the habit you have to get AND DIGEST YOURSELF BY PRACTICE or else you will be dead



these are the 4 points that came to me on seeing your question


Side note: I have lots to PUT ON TEXT BUT I WILL SAVE IT FOR LATER WHEN SOME ONE ASKS MORE ABOUT IT (dont wanna bore you all xD)

Generous Generous
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Marry a person who agrees with your financial view and spending habits. This is the biggest thing you can do to live a happy life. 

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Pro DealBaba Pro DealBaba
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Keep earning grin

Spearhead Spearhead
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Haina @akki.akki bhai... pray🏻


Benevolent Benevolent
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Aur kya.. paisa hi paisa hoga 💸💸
Deal Lieutenant Deal Lieutenant
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1) Dont be greedy, and 

2) learn maths around percentages and how to calculate yourself first before doing anything

3) Avoid trading and back testing: Dont get into the habit of 1% profits daily which equals to 365% and if you added compounding to it, then it much be more than 1000% return in a year lol lol SO AVOID INTRADAY WHEN YOU ARE NEW (which the brokers will hide and push you into intraday obviously)

4) becalm and stay calm DONT WAVER ON SEEING ANY NEWS this is the habit you have to get AND DIGEST YOURSELF BY PRACTICE or else you will be dead



these are the 4 points that came to me on seeing your question


Side note: I have lots to PUT ON TEXT BUT I WILL SAVE IT FOR LATER WHEN SOME ONE ASKS MORE ABOUT IT (dont wanna bore you all xD)

Deal Cadet Deal Cadet
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you can share more with us. pls share your writings if any.

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Deal Lieutenant Deal Lieutenant
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😒paisa haath ki mayl h

Spearhead Spearhead
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Winter me production km haina isliye...

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Deal Cadet Deal Cadet
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Invest regularly in diversified products (index funds, gold, FD, bonds, etc).

Analyst Analyst
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I Always suggest,  trust a person who always play even with a dime and take his account and transfer all your earnings every month and forget it.

.

Witness the financial magic

Helpful Helpful
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Put all your eggs in one basket

Take full leverage to do intraday

Take multiple LICs and ULIPs

Deal Newbie Deal Newbie
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+1

Make one big egg, fill the basket and later make another basket 

You don’t need to diversify you pennies. 

Deal Newbie Deal Newbie
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beti/ beta/ non-binary,
                                                                      do not bother giving advice to those who would not follow through.
Tech Guru Tech Guru
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Simplest Financial Advice: 

Money Saved = Money Earned.

( look at my DD profile on web)
Helpful Helpful
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Learn economics how govt. , banks , affect

How money flows in the economy , then u will see govt. Is 🍭

Deal Cadet Deal Cadet
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where to get the gist of it. 

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Critic Critic
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Getting a good partner who understands finances.

Tech Guru Tech Guru
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True in Both cases, in marriage and in business. plus1 fire
Generous Generous
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Kuch lekey nahin aaye ho ... kuch lekey nahin jaogey . 

sabko pyaar karo , sansaar ka bhala karo .. aur chaley jao . 

Deal Subedar Deal Subedar
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Never do FnO

Generous Generous
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Marry a person who agrees with your financial view and spending habits. This is the biggest thing you can do to live a happy life. 

Deal Newbie Deal Newbie
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This is probably my only comment on DD.

1) Discipline is the key. You should invest in bullish market, you MUST invest in bearish market.

2) More than finding 1% better returns (all the effort involved in it), save 1% from your expenses. This is the BEST advice I can give. 

3) Active investing is not for most people. Most people consist of you and me. Index/Passive funds are sufficient.

4) Keep living costs low while your salary grows. It is totally OK to make BIG purchases once a while.

Sadly, such pointers won't hold the weight coming from an average person. I could introduce myself but probably not today.

Deal Subedar Deal Subedar
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Insurance is not investment. It's a risk mitigating financial instrument. Avoid going for insurance plans which promise returns or premium return, go for a pure risk policy.

Deal Subedar Deal Subedar
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Invest in yourself is what I have heard from many people.

Deal Cadet Deal Cadet
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Don't take it from everyone

Wingman Wingman
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remember, 99% quit gambling right before they win big

Cool Cool
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Avoid f&o

Deal's Advocate Deal's Advocate
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Just don't buy anything on credit or loans. Keep it only for life and death situations and you will live a peaceful life. In my life I have followed this simple funda from the day I started earning and it's been 20 years and I have not taken loan till date from anything. Whatever I have is all by full down payment. The peace I have enjoyed and the freedom I have experienced is surreal.

I know it may sound a bit stupid to many teenagers or young chaps in the twenties but this is something which will give u something that you can show off in social media but can really experience it all by your own and i.e. eternal peace.

Deal Newbie Deal Newbie
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Make your basics covered first before investing

Basics are

Term insurance

Health insurance

Emergency fund

Then invest .

If basics are not covered, any emergency can wipe out your investment.

For investment, the main thing that is needed is time. If sufficient time is not available for investment (due to emergency), it will not yield great results.

Deal Subedar Deal Subedar
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Don't concentrate on returns, but instead be displined in investment and try to increase invested amount.

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