How game of Cricket teaches us to manage Personal Finance !

Game of cricket is very popular and enjoyed by people of all ages. It is not just a game to be watched just for fun, rather it can be seen as a game full of strategies and Planning which can help build in your Financial portfolio, plan strategies for financial life and also win to get a long term financial stability.

Comparing the basic fundamentals of cricket and personal finance can be eye opening. Creating investment plans is like planning the team. You need an attacking player, a stable player who saves the wickets and helps others to score and a multi talented player to take care of attacks and defense as required. Quite similarly you need midcap equity (aggressive), an index fund (steady, market linked) and a debt fund which can move across maturity levels to generate returns or save risks.

As winning the match of cricket depends of various factors likewise the personal finance management is also dependent of numerous factors. One of the most important factors is to have a good early start. Starting with a plan and executing is very important. There is always a clear target in mind of the team whether they are chasing a good score or building one.

If chasing a huge score run chase starts early. Similarly, sooner you invest easier it is achieve the financial goals as the investments have longer time period to grow with the magic word compounding.

Pacing the innings correctly is the second important factor. As the cricket team takes risk or saves the wickets by planning properly, the personal finance field also needs similar planning. Asset allocation should follow the same rule.

As for example if you have 30 years of earning life left, it is possible for you to invest in riskier but higher return yielding investments as equity which can help to create good capital appreciation over long time. Whereas if the earning life is less you need to be more careful to not risk the investments and prefer investments with guaranteed return only as fixed deposits.

So from the next time while watching cricket matches do keep in mind to follow strategies from the game and keep your personal finances growing.

Financial Planning for Business startup!

For starting a new Business Financial Planning is a must as managing Personal Finances. One you get a flow of managing personal finances the planning for business finances can be easy.

• Calculate startup cost
• Manage cash flow
• Manage Personal expenses and finances
• Maintaing Balance sheet

Get a detailed information on all the steps and much more : https://evoma.com/business-centre/financial-planning-guide-for-a-new-business/

This guide will help in knowing the importance of finances at the start of a business and how maintaining and following these rules can be helpful in the long

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