Arunachal Pradesh is a magical state surrounded by Bhutan, Myanmar and Tibet. tired of the hustle-bustle of the city? come on, let’s escape to the serenity of Arunachal Pradesh and get lost in the arms of mother nature. whether you are travelling solo or with a group, you would have the time of your life.

check out famous tourist places in Arunachal Pradesh right away

• Namdapha national park
• Upper Dibang Valley
• Tezu
• Roing
• Bhalukpong
• Changlang
• Bum la pass
• Aalo
• Nuranang falls
• Sangti valley
• Pasighat
• Dirang
• Sela Pass

1. Namdapha national park

enough of the panda memes we’ve been watching all along. It’s time you see a real red panda by visiting here the wide variety of species makes it the third largest national park of India and certainly of the most famous tourist places in Arunachal Pradesh. if you are an adventure fan, you should most definitely hit the place & click a lot of national treasures.

how to reach- reach Lisu village and take a hike to the Rainforest. If you are travelling from Assam, the place is just 5 to 6 hours away from Dibrugarh Airport

Address– Director, Namdapha Tiger Reserve, MV Road, Arunachal Pradesh 792122

2. Upper Dibang Valley

how would you feel about visiting the largest but the least populated district in India? the scene of the place is quite spectacular, surrounded with lush greenery all around. if you are a tea or a coffee fan, you can also explore the tea and coffee gardens.

Oh and make sure to pick some as a souvenir for your loved ones. Hiking fans can go gaga as the valley is known for a good trek. all you gotta do is make sure to pack a good pair of shoes and get, set go! the place is also close to the Chinese border so you might have to be prepared with your identity proof.

how to reach- you can take a flight to Chabua Airport and probably take a bus to the valley. if you do not wish to travel via public transport, you can hire a taxi.

address- Dibang Valley, Arunachal Pradesh

3. Tezu

sitting in the forest wrapped hills of Mishmi, Tezu is a quaint town that simply has it all. Whether we talk about the amazing culture or the historical beauty, you can find it all here. Now jumping to the major reason, the town attracts a lot of photographers because of Glow lake the snow-covered peaks is something that puts Tezu in the list of most famous places in Arunachal Pradesh.

how to reach- Dibrugarh railway station is 170 km away from Tezu. you can take a train to reach this place.

Address– Lohit district, Arunachal Pradesh

4. Roing

Roing is one of that places that justifies the meaning of its name. the word means ‘cool and refreshing’ which it certainly guarantees to its visitors. The town is nestled just beside the Dibang river which makes a great place if you are looking for peace. It’s so picturesque that you’ll end up spamming your social media friends with its beauty. whether you are a history fanatic or an adventure lover, the town has something for everyone.

how to reach here- Roing is almost 151.6 km away from Dibrugarh. you can either catch a train or take a bus to this town.

address- lower Dibang Valley, Arunachal Pradesh

5. Bhalukpong

named after king Bhaluka, this place is seen to be absolute bliss for history lovers. Strolling through the town would also give you a sneak peek of the beautiful orchids, ancient ruins and whatnot. if you are an adventure fan, you can also visit Pakke Tiger reserve or the Bhalukpong fort. if you are in the mood for some amazing time with your loved ones, you can always Kameng river & have a small picnic. There’s simply too much that you can explore here, which makes Bhalukpong one of the best places to see in Arunachal Pradesh.

how to reach- the nearest railway station is Rangapara station which is just 46 km away from Bhalukpong. you can directly catch a train to reach here.

address- west Kameng, Arunachal Pradesh, 790114

6. Changlang

all the fans of spectacular views unite cause we’re now listing the dream place of Arunachal Pradesh, Changlang. Patkai mountain ranges smoothly touch the borders of Myanmar and honestly gives one heck of a view, worth capturing. you can see a lot of visitors throughout the year due to its beauty and of course history. some places to hit while you’re in the city- Namdapha national park, Nampong, Vijoynagar etc.

if you wanna visit here during the festivals, you might also be able to experience their unique culture. honestly, you’ll be taken back in time while visiting here.

how to reach- Changlang is merely 90 km away from Tinsukia railway station. You can catch a train to Tinsukia and then opt for a bus or private vehicle to reach here.

address- Changlang, Arunachal Pradesh, 792102

7. Bum la pass

why study history in a closed classroom when you can actually witness it from the historical site itself known for the Sino Indian war, Bum la pass attracts a lot of tourists from all around the country due to its immense history. but folks, remember that you gotta have a special permit from the Indian Army if you wanna visit the place. Rumour has it that the Dalai Lama took this path to reach India.

The weather is usually as amazing as it can get and the rocky paths just set the mood for a good trail. and be very careful while you are visiting here, stay in the area that’s allowed. there are many many reasons why this place remains one of the most famous tourist places in Arunachal Pradesh.

how to reach- You can reach Tawang and take a bus for Bum La pass to reach here. you can also take a train cause the distance b/w Bum la to Tawang is just 52 km.

address- Indo China border

8. Aalo

looking for heaven on earth? well, we’ve got just the right place for you. Aalo is surrounded by lush green forests and breathtaking valleys. you can also stroll a bit to know about the traditions and cultures of the locals here. nature lovers simply won’t be able to get enough of this place and its beauty is to be blamed.

Trekking lovers can also pack a nice pair of shoes as you will get a chance to walk a bit while exploring the place.

how to reach- if you are travelling from Mechuka, you can reach Aalo in around 4 to 5 hours. You can either take a train or a bus to reach here, whatever suits you the most.

Address- West Siang, Arunachal Pradesh

9. Nuranang falls

and what even is a trip if it doesn’t include waterfalls, right? Don’t worry we haven’t forgotten to include the pride of AP. the waterfalls from a great height, displaying a spectacular sight for all its visitors. make sure to wear good shoes while visiting here cause the roads are very slippery. Especially when you have walked down to the falls.

want a bath? Heck, it just jump in and enjoy the refreshment. serene atmosphere, far from the hustle-bustle of the city is what makes this place one of the most famous tourist places in Arunachal Pradesh.

how to reach- Nuranang falls is just 40 km away from Tawang railway station. you can either take public transport or a cab/ taxi to enjoy the falls.

address- Tawang district, Arunachal Pradesh

10. Sangti valley

bro aren’t you just tired of hitting Himachal every time you wanna visit a hill station? it’s time you try out something different. your dream of visiting an undercrowded, peaceful place ends right here. you can either take a hike in the pristine forests or enjoy the sweet fruits from the orchard. trekking a bit towards the upward direction would give you an eye candy of eastern Himalayan hills.

the weather is almost amazing in this valley which makes it ideal for visiting at any time of the year. and fellas, don’t forget to pack a ton of winter clothes cause it’s gonna be chilly out there.

how to reach- Sangti valley is just 14 km away from Dirang. You can directly take any public transport and reach here

address- Dirang Valley, Arunachal Pradesh, 790101

11. Pasighat

Sitting peacefully beside the Siong river, Pasighat is a must-visit when you are planning your trip to Arunachal Pradesh. remember how you’ve always wanted to sit in the time machine and just go back to the good ol’ days? Well, this town will just give you that feeling. we’d recommend don’t expect modernity from this place because it’s still of the purest towns that are meant for a retreat.

adventure fanatics can go gaga over the water sports. You can go river rafting, kayaking or simply spend some time fishing.

how to reach- if you are travelling via train, you can reach Murkong Selek which is the closest railway station from Pasighat. (merely 35 km away)

address- east Siang, Arunachal Pradesh

12. Dirang

Resting in the west Kameng district of the state, Dirang is quite literally a backpackers paradise. Picturesque atmosphere? check. utmost peace? check. And at last, the yummiest food of all time? also, check. one of the best things about Dirang is that it has amazing weather throughout the year. this is exactly why it is known to be one of the most famous tourist places in Arunachal Pradesh.

you can book your stay in a laid back hotel and start your mornings by watching the sunrise. you can also explore good places nearby.

how to reach- if you are taking a train, you can get a ticket for Tezpur which is situated almost 190 km away from Dirang. Once you’ve reached the station, you can catch a bus to the city.

address– Dirang Valley, West Kameng District, Arunachal Pradesh.

13. Sela Pass

we certainly believe all’s well that end’s well. Therefore we saved the best place for the last. now have you ever heard of a pass that is wrapped around 101 lakes surrounding it? if not then this is the place you should hit. the pass is sitting at an elevation of 13,700 from the ground and gives a heck of an adventure to all you adrenaline lovers out there.

Sela lake is seen to have pure blue water and therefore acts as a magnet to all the potential photographers and aesthetic suckers. there’s just too much to describe while speaking about this place but the snow-capped mountains just sum it up entirely.

how to reach- Sela pass is merely 2.5 hours away from Tawang. you can take a bus from Tawang to reach here. also please keep in mind that there’s a lot of snow so you might have to walk a bit.

address– on the border of Tawang and West Kameng district, Arunachal Pradesh

let’s wrap this up, shall we?

fellow travellers, now that you have a list of famous tourist places in Arunachal Pradesh, what are you waiting for? just pack your bags and leave for a retreat. if you’re a teen traveller, we have something that might interest you wanna travel in peace? Have your own akudo card. When we said you take care of travelling, we’ll take care of rewards and cashback, we weren’t kidding.

Bon Voyage!

very often we hear that financial literacy is very important for kids but it is as important for adults. to be fair, it doesn’t matter how much money you’re earning every month. it’s how wisely you’re spending the money that makes you rich. so the question rn is what is financial literacy? huh. now to put it in millennials language, financial literacy is learning about budgeting, investing and management.

you know you have started taking steps towards financial literacy when you are investing in the right projects. when you’ve finally started killing the urge to spend recklessly saving money for more important chores makes you a more mature learner.

so enough about it, no? here are the top reasons why is financial literacy important?

1. to help your future

when you are learning about finance, you’re not only making your present better but you’re also taking a step towards a smart future. it helps you make the thin line between your wants and needs. As a teen, we think it is super important. Gone are the days when you could’ve talked a teen about a date and made them spend their bucks.

teens now would much rather invest in crypto and mutual funds than on meaningless dates no offence, really. once you hack the art of money management, you can save up for your college or even better, fix the money and gain interest in it.

2. it makes you the smartest dude there is

when you want money, you have it. but when you start learning about the tricks to grow your money, that’s when you separate yourself away from the crowd. if you’re a teen, you’d legit see all your friends spending money and think, if only I had the money, I’d do 21 din me paisa double.

financial literacy makes you a smart earner and of course a smart investor. and in no time, when everyone would be questioning ‘why is financial literacy important’ you’d already know the answer. not saying you need to give out financial advice but bro, be ready cause once you make gains, you attract potential investors like a magnet.

3. you can become a financial guru/influencer

to be honest, finance is a very evolving thing right now, the speed of spread is usually more than before and we all wanna have a taste of it. there are sooooo many beauty/travel/fitness influencers but so few financial influencers. you can probably cut a future out of all your monetary learnings and guide people about what’s the best.

there are many people out there who are still trynna figure out why is financial literacy important. and with every passing day, the more people are listening about crypto, mutual funds and well, even normal hacks to save money and tax, they want in. you can be their inspiration. however, we highly advise you to only teach about the topics you have expertise in.

4. financial literacy makes you independent

while other kids would be writing assignments for their siblings for money, you can just go clubbing or hanging out with your pals with all the extra money you made. When you have the will to learn about money, it surely slides a feeling of ‘if you’re spending more, you gotta earn more’ in yo’ mind. taking up a side job will make you independent and you can be your own boss.

you also start saving up and thinking about a future. So when you’re in the time of any need, you needn’t give interest on extra money.

5. you can dream big and achieve them

come on, let’s take a challenge. a small one, if we might add. start saving smartly for just 6 months. start taking a side gig and freezing that money in a fixed deposit that you can break after half a year. the results would be magical. Every time you just order the food, try restricting it to once a week and cook for the rest of the week. In short, don’t splurge at all on anything.

after the given period when you see the amount in your account, you’d be shocked. and that’s what happens when you are financially aware. you start making this a habit rather than a challenge.

6. you’ll be prepared for your first job

this may seem kinda strange but folks, it’s very true. Working requires a rare sort of discipline. well, good for you cause you were already practising for it. you’d probably get even better at managing your money and booking better profits on them.

formalities like filling out taxes, rent and everything would be under control cause you know how to get the best out of your salary. financial literacy literally prepares you for all the super aspects of handling the bucks from quite an early stage.

7. to manage the rainy days

The best part about being financially awakened is that you won’t really have to face the wrath of rainy days. and even if you do, you can just take out your emergency fund and you’ll be good to go.

you’d also be able to help out your family or friends during their financial crisis. There’s no feeling better than that. there are one too many answers for why is financial literacy important, you just gotta find yours.

ending on a lighter note,

we know that you folks are already aware of the boon that financial literacy has in your lives. But to all our friends who are still looking for a reason to stop splurging and start focusing more on financial awareness, here is a sign to start today.

teens are focusing more on being woke when it comes to money and why shouldn’t they? the prime of their life is when y’all wanna be your own boss. get an akudo card and take a step towards handling your budget. there’s always a start, right? maybe here’s yours.

fellas, let’s get started on savings, shall we?

rainy day funds are money that we put aside to use in times of unexpected work such as renovating your vehicle or paying for house maintenance. now hmm why exactly do we call it a ‘rainy day fund’ well cause just like you don’t know when is it gonna rain, you won’t be able to know when you’ll have to fund for those tasks or major life events.

usually, folks misunderstand an emergency fund with a rainy day fund. but as a matter of fact, they’re very different from each other. an emergency fund is the savings that you do for a huge happening you don’t know is gonna occur in future. let’s say saving up for a date with your crush or saving for an amazing (but expensive) dress that has just come on sale.

how much should you have in a rainy day fund?

to be blunt, you can have as many savings as you want. rainy day funds are usually the small ones so you don’t really have to worry about it. but to be on the safer side, you can put a small amount of money every month in your rainy-day piggy bank. and hey, if you think you’ve saved too much, you can stop putting money in the fund for one month and pamper yourself.

ideally, you can have anywhere around 1000 rs to 3000 rs to cure your rainy day blues. your rainy day fund doesn’t need to be as huge as your emergency fund. you can evaluate your needs by taking a look at your expense book. and at the end, you can add the money to your account accordingly.

what expenses would your rainy day fund cover?

as mentioned before. You can use the rainy day fund to cover small expenses like fixing your bike tires or anything else that would seek your wallet’s help when it’s entirely empty. some other expenses that you can cover with this fund are-

• Medical bills
• getting your house repaired
• Getting your car serviced
• spontaneous date with your crush
• Urgent cash for your family members

where should you keep the money for the fund?

you should always keep the money in the count that you can easily access such as your akudo account. so that you can just use the money whenever you wanna. however, if you feel you might need the money spontaneously and you’re a teen without a card, you can also keep the money in cash.

how many months should you save for a rainy day fund?

as we said earlier too, a rainy day fund budget depends on your way of living. If you’re a teen with high maintenance stuff and a car (or a demanding girlfriend) you’d have to separate a larger sum of money in the rainy day fund. ‍ or the other way is to take out a small sum of money every month. you can pause after 4-5 months if you haven’t used that money.

but if you’re single with a bicycle and let’s say good savings then you can take out a small sum of money for like 2 to 3 months.

what is right for me? Rainy day fund or an emergency fund?

if you take our opinion, you should be prepared to have both. if you’ve reached this part of the blog, you already know that rainy day funds and emergency funds are two different things.

someday you might need to spend small on an unpredictable task where you can use your rainy-day fund while on some days, you would need to spend huge and that’s when you take out your emergency fund. so in short, save for both the funds.

saving tips for a rainy day fund

we know it becomes very hard to save for these many funds. and we think we can help you here a little bit.

• start cooking in rather than ordering out (use that money in your rainy-day fund piggy bank)
• Start a side gig to prepare yourself for saving a little bit extra (have talent? Approach us and we’ll go for a coffee
• take out a small amount of money whenever you return from your nani’s house
• Do chores at your home and take money from your parents in return
• try refraining from splurging after you receive money
• Create an auto-deposit so you won’t have to think twice before saving the money.
• Use your akudo card to save some extra bucks while shopping/ordering or pretty much anywhere (oh and did we tell you? You get awesome rewards too

we heard you like things simple, so here you go pals. If you didn’t understand the parts above easily, this might help you in taking a glance at all things rainy days.

last few words:

you never really know when a spontaneous expenditure might strike you the best way is to be prepared for it like a pro. one thing that you should NEVER do is keep all the money in the same account. not only would it be really confusing but you’d also be penniless when the moment of using rainy day fund comes by.

so what have you planned? do you just wanna be a teenager or you wanna be a smart teenager? Let’s get set and save some money to fight emergency money situations like a pro.

as Indians, we were never taught about taxes, loans, investments or any other personal finances guidance in school. people learn the lesson of responsible finances quite late in life and we have no one but ourselves to blame.

but now, the times are changing. with the abundance of knowledge about personal finances on the internet, gen z and millennials are on top of their game. but along with the internet, there are some books that every young person should read before they jump into the world of finance. here are some books that you can flex it out with and be the next wall street guru or a regular teen making thousands effortlessly. learn about the right steps for a bright future with these best financial books for beginners in their 20s.

top 13 personal finance books for beginners

• The Millionaire Next Door by Thomas Stanley and William Danko
• I Will Teach You To Be Rich by Ramit Sethi
• Rich Dad Poor Dad by Robert Kiyosaki
• Your Money or Your Life by Joe Dominguez and Vicki Robin
• The Total Money Makeover by Dave Ramsey
• Why Didn’t They Teach Me This in School? by Cary Siegel
• Broke Millennial by Erin Lowry
• Broke Millennial Takes On Investing by Erin Lowry
• Clever Girl Finance by Bola Sokunbi
• The Financial Diet by Chelsea Fagan and Lauren Ver Hage
• Spend Well, Live Rich by Michelle Singletary
• Retire Before Mom and Dad by Rob Berger
• The Automatic Millionaire by David Bach

1. The Millionaire Next Door by Thomas Stanley and William Danko

this book on personal finance is for all those readers who are entering the game of getting their finances together. the book busts the myth of how all rich people live in mansions and enjoy royal life. the authors point out how rich successful people are just like anyone else with some common traits that make them who they are. get your hands on one of the best personal finance books across the world.

price – INR 699 on Amazon

rating – 4/5

read for – inspiration and tips

buy here – ,https://www.amazon.in/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

2. I Will Teach You To Be Rich by Ramit Sethi

this is a perfect read for independent souls who are just entering the real world. the author shares an outline of a 6-week plan that will have you living as the rich do. he will empower you to live a guilt-free life while spending responsibly. this quirky book will make you the master of getting out of late fee payments, earning profits without an investor commission, paying off student loans and more. there is a reason for this book to be one of the best finance books for beginners along with being a top seller.

price – INR 1050 on Amazon

rating – 4.1/5

read for – financial planning and beginner tips

buy here – ,https://www.amazon.in/Will-Teach-You-Be-Rich-dp-1523505745/dp/1523505745/

3. Rich Dad Poor Dad by Robert Kiyosaki

inspired by the author’s own father and his friend’s father, Rich Dad Poor Dad dives into the realities of what the author learnt about money while growing up. he talks about how you don’t need a lot of money to become rich, the right investments and what youngsters need to know about personal finances that their schools won’t teach them. this best personal finance book is a must-have on your reading shelf.

price – INR 240 on Amazon

rating – 4.1/5

read for – assets, liabilities and personal finance for kids

buy here – ,https://www.amazon.in/Rich-Dad-Poor-Middle-Updates/dp/1612680194

4. Your Money or Your Life by Joe Dominguez and Vicki Robin

in this book, follow a nine-step plan to strengthen your relationship with money. the authors take you through a technique of not only becoming financially independent but also saving money and retiring early. this is the best personal finance book for debt management, early retirement and ecological approach to building wealth. yes, in an ecological way. learn how these financial habits can help you reduce waste and protect the environment.

price – INR 599 on Amazon

rating – 4/5

read for – debt management and early retirement

buy here – ,https://www.amazon.in/Your-Money-Life-Transforming-Relationship/dp/0143115766

5. The Total Money Makeover by Dave Ramsey

as the name suggests, get a total financial makeover with this book by Dave Ramsey. learn how to avoid the traps of services like rent to own, credit payment, advances, etc. the author also focuses on how you can save yourself on a rainy day by starting an emergency fund. read this best personal finance book and you’ll become the next savings fund guru amongst your friends. share the wisdom of savings, college funds, mortgages and more.

price – INR 359 on Amazon

rating – 4.2/5

read for – savings and emergency fund

buy here – ,https://www.amazon.in/Total-Money-Makeover-Classic-Financial-ebook/dp/B00DNBE8P6

6. Why Didn’t They Teach Me This in School? by Cary Siegel

a question we all ask ourselves when we drown in the real world of finances, especially taxes and investments. well, worry no more. Siegel is here to rescue you with this best personal finance book for new graduates and teens. learn from a father’s first-hand experiences meticulously listed down for his children. his 99 principles and 8 money lessons for beginners is a great kickstart for youngsters looking for genuine and easy to follow financial advice.

price – INR 1248 on Amazon

rating – 5/5

read for – real-life finance experiences

buy here – ,https://www.amazon.in/Didnt-They-Teach-This-School/dp/0692116532

7. Broke Millennial by Erin Lowry

is that you? well, it looks like that’s all of us. but don’t worry, this book addresses all your personal finance drama in a way that any millennial will understand. this quirky book talks to all those who are stepping into the journey of finances. from student loans to discussing money with your partner, this finance book for beginners has it all. there is no embarrassment of not knowing jazz about finances. it will make you laugh at how there are people lost exactly like you.

price – INR 850 on Amazon

rating – 3.9/5

read for – being open about finances and personal finances in your 20s

buy here – ,https://www.amazon.in/Broke-Millennial-Scraping-Financial-Together/dp/0143130404

8. Broke Millennial Takes On Investing by Erin Lowry

Erin Lowry didn’t just stop with her amazing tips on finances in her first book. she came back with a bang for us lost millennials with successful tips on investing. she sees us beyond a crowd that binges on Netflix. in this book she tackles our confusion when it comes to juggling between investments and piling debts. we millennials are in good hands when reading this best personal finance book on investments.

price – INR 411 on Amazon

rating – 4/5

read for – early investments

buy here – ,https://www.amazon.in/Broke-Millennial-Takes-Investing-Beginners-ebook/dp/B07FZP4YFY

9. Clever Girl Finance by Bola Sokunbi

as the name suggests, the author aims at educating a young generation with anecdotes on women’s finances in the real world. this easy-to-read finance book for beginners aims to encourage youngsters to look out for unnecessary expenses, budgeting and living by that budget. learn how to navigate through the maze of debts, credits and salary increments unapologetically directly from a businesswoman.

price – INR 1595 on Amazon

rating – 3.8/5

read for – being bold about personal finance

buy here – ,https://www.amazon.in/Clever-Girl-Finance-Ditch-wealth/dp/1119580838

10. The Financial Diet by Chelsea Fagan and Lauren Ver Hage

this book is perfect for beginners in their 20s as it lays the foundation of budgeting and savings. the authors dive into the lessons of investments and savings for retirement and debt repayments. it is known as one of the best personal finance books as its techniques are easy to follow and cover a range of topics that applies to us all as beginners.

price – INR 1384 on Amazon

rating – 3.4/5

read for – budgeting and early financing

buy here – ,https://www.amazon.in/Financial-Diet-Total-Beginners-Getting/dp/1250176166

11. Spend Well, Live Rich by Michelle Singletary

inspired by the author’s grandmother who raised five kids on a less than average income, this personal finance book for beginners is a treat. it is all about making the most with a limited amount of money. the principles of money management in the book focuses on mantras that will empower you with financial freedom no matter what your financial situation is.

price – INR 1508 on Amazon

rating – 3.6/5

read for – inspiring personal finance and budgeting

buy here – ,https://www.amazon.in/Spend-previously-published-Mantras-Richer/dp/0375759042

12. Retire Before Mom and Dad by Rob Berger

looking to retire early, this is where you begin. hop onto a journey with this best personal finance book where you can explore the path of early retirement. the book is inspired by the FIRE movement that stands for financially independent, retiring early. this is your one-stop solution to live independently when it comes to finances while attaining retirement well before the age as per the norms of society.

price – INR 1300 on Amazon

rating – 4.3/5

read for – early retirement and financial independence

buy here – ,https://www.amazon.in/Retire-Before-Mom-Dad-Financial/dp/1733914501

13. The Automatic Millionaire by David Bach

well, the name itself makes you want to read the book, doesn’t it? and you should definitely read this book that teaches you how to automate your finances. a story of a young couple who achieve the perfect dream of purchasing houses, sending their kids to college and retiring early. it trains you to monitor your unconscious expenses and how it can make you stronger. this system not only pays you but automates your increasing wealth. deep dive into this best personal finance book for a financially smart future.

price – INR 610 on Amazon

rating – 3.9/5

read for – making a plan to build wealth

buy here – ,https://www.amazon.in/Automatic-Millionaire-Expanded-Updated-Powerful/dp/0451499085

so, what are you all waiting for?! these best personal finance books are waiting to make you rich and lead the race of responsible personal finance.

hope you loved this blog. you might also like:

• what is an emergency fund? why it is important to have?
• what is a neobank? why it is the future of banking in India?
• top 10 best self-investment ideas for genzs and millennials
• NSE vs BSE – definition and major differences
• 50 30 20 budget rule – the golden rule of budgeting

so, first things first, after achieving your financial freedom, you need to take up the responsibility of setting financial goals. this also motivates a person to strive harder in their career to achieve these goals. the goals act as a trigger for you to do better and give you something to look forward to. once you are successful in achieving these goals, that feeling of accomplishment and peace is something else altogether. it is said that a human can never be satisfied. but we say, why should we be satisfied when we have the potential and power to do so much more.

before we begin the gyaan on setting financial goals, let us look at the mistakes adults and teenagers make when it comes to their personal finances.

common personal finance mistakes adults make

1. not having an insurance

this grave mistake is done by so many adults that it is scary. yes, we know you get medical insurance from the company you work at. but what about life insurance? as an adult it is your responsibility to ensure that your family is financially secure and can look after themselves. also, extra medical insurance for your family members will help with sky-rocketing medical bills.

2. failing to prioritise

another major mistake made when setting financial goals is not prioritizing expenses appropriately. it is of utmost importance to pay off debts with a higher rate of interest first. opting for medical and life insurance is much more important than purchasing a car. planning your retirement fund is high on the priority list as compared to your child’s future college fees. how? you or your child can easily apply for an education loan, but can’t go for a loan in your old age. hence, be reasonable and responsible when setting financial goals.

3. lack of emergency fund

not having an emergency fund set aside is a very bad example when setting financial goals. emergency funds act as a knight in shining armor in unexpected situations like damage to the house or accidents. the best example is the pandemic where the workforce across the world faced pay cuts and how thousands lost their jobs. in such a situation an emergency fund will help you and your family to sustain a comfortable life until things are back on track. pandemic has taught everyone this great lesson.

4. accounting for future inflation

with a heavily fluctuating economy, people make the mistake of not considering price hikes and inflation. we celebrate our salary increments, but we need to plan our future financial goals like savings and investments considering both our salaries and increased expenses. party hard with your increment and plan harder for the future.

common personal finance mistakes youngsters make

1. not making a budget

there are only three things that teens need to focus on, and they are budgeting, budgeting and budgeting (what up poooooooo reference!). so, guys, if you don’t budget, you will notice how you are always broke within the first 2 weeks of the month. budget your expenses, parties, aspirational purchases and any other things that you think will involve money. make it your life mantra to budget everything when hoping to achieve the set financial goals.

2. splurging

uh-huh, here is where we all get uncomfortable. splurging! the demon of all failed financial goals. you need to say goodbye to this evil friend of yours called impulsive purchases. you already get limited pocket money, why not budget it wisely and then splurge all you want on your shopping spree as per your plan. it might be difficult, but not impossible

3. owing money

there is absolutely no reason for youngsters like you to get into the habit of owing your friends or other people money. it puts you in a circle of debts which after a point gets difficult to manage. trust us when we say, your parents are your saviours. in case you are out of money for the month, talk to your parents and together you can figure out a way to earn some extra cash from them. don’t lose your vision of financial goals to things like debts.

4. no financial knowledge

with the world growing on steroids (just a figure of speech guys), the teens are getting more and more exposed to financial knowledge. even after the easy accessibility of information, many teens don’t bother about gaining financial knowledge. it’s high time you make use of the technology and learn about future investments, taxes, debts and everything finance. if not, ask your parents or other adults about these things and educate yourself on setting financial goals for your future or even now if possible.

now let’s talk about short-term goals which are important and equally achievable. by accounting for short-term goals it becomes easier to focus on long-term financial goals and fulfil both of them.

short-term financial goals for adults

1. emergency funds

as an adult, you have to start adulting. understand the importance of having an emergency fund and saving some amount of your income into that fund. this fund will help you and your family in unprecedented situations like unemployment, late salary, etc. you won’t have to opt for loans or any other kind of debts unnecessarily. hence, starting an emergency fund should be on the top of your list of short-term goals when setting financial goals. you can start your emergency fund by setting aside 5-10% of your income depending on your other expenses. you can also sell off unnecessary things that you own and don’t use. for example, an old mobile phone or laptop, clothes, and books.

2. pay off credit card bills

another important short-term financial goal for adults is to clear all their credit card bills. there are two major reasons for this – high-interest rates and credit scores. the vicious circle of credit card bills slows you down from achieving your financial goals. the later you pay the bill, the higher the amount you pay and then it’s a never-ending series. hence, pay off your credit bills on time which will also affect your credit score positively for the future.

3. payments for rent, insurance or loans

your short-term financial goals cannot be achieved if you don’t account for rent and other monthly expenses like loan EMI and electricity bill. you also need to set aside a certain amount for insurance like medical or life insurance. these things should definitely be your short-term goals as they contribute towards a major part of your survival and lifestyle. aim to achieve your short-term financial goals as soon as you can so you need not worry about your and your family’s lifestyle.

short-term personal finance goals for teens

1. savings account

so, guys, now that you are in the prime of your teenage life, start looking into your short-term financial goals and take them seriously. you can start off small by asking your parents to open up a custodial savings account for you in a bank with best interest rates. use that account for your savings and transactions for any purpose and at the same time, keep earning interest on it. once you’re 18, you can have the full custody of that account and take your first step into financial freedom as an adult. start preparing for that sweet taste of financial freedom now itself.

2. college scholarships

education fees and loans are not a joke. your parents try to provide the best possible education for you and strive to help you fulfill your dreams. but you need to start taking responsibility for your dreams and account for the expenses involved in it. so, in order to achieve your dreams, play your part and research for college scholarships that will load off the financial burden on you and your parents. don’t hold back when reaching out to the stars when you have amazing options at your disposal. this short-term financial goal will bring you closer to your dreams.

3. research on early investments

investments have no age. you are never too young to start investing as long as you have a custodial account. the younger you start the sooner you can relish in the joys of profits you gain. start looking into investments like SIP, cryptocurrency, mutual funds, FD. etc. you don’t have to invest thousands of rupees. with so many investment platforms like Groww, you can start investing money as low as 100 bucks. learn more about investments with akudo.

the gangsta when it comes to financial goals and planning are the long-term financial goals. these goals determine the kind of future you see for yourself. these goals also shape up your financial and life planning in order to achieve them.

long term financial goals for adults

1. retirement fund

again, this cannot be stressed enough, but planning for your retirement is a gift to yourself in your old age. your retirement days are for you to enjoy them with your family and friends. you don’t want to be running around earning money for basic necessities. it is much more important than saving money for your child’s future education. so always and always prioritize your retirement plan when setting financial goals and research well on the best plans for yourself.

2. purchasing a house

buying a house is very important for Indian families. owning a house is a sign of success and stability. it provides security to families and is a great investment for a safe future. hence purchasing a house should be one of your top long-term financial goals to avoid the burden of rent throughout your life. research on the best real-estate and housing loan options to live your best life.

3. child’s education

saving for your child’s education may not be the only option for their fees, but it is one of the most important financial goals when it comes to Indian families. hence, start including this when setting your financial goals and look for the best options like education loan, fixed deposits or any other type of investment.

long term financial goals for teens

1. travel

the best way to spend your money is on experiences instead of materialistic items. as you grow old, you’ll realize the importance of exploring the world and yourself at the same time. hence travel should be one of your long-term financial goals where you can save up for trips and travel plans. this is the best kind of investment you can do for yourself.

2. budgeting

you might be tired of hearing it over and over again, but that is what makes it important. budgeting is not a one or two-month process, it is a life time process that keeps evolving as you evolve. hence, budgeting is your one financial goal that you should be consistent with throughout your life. there are many budgeting apps that will make your life easier.

3. financial independence

as you grow, you need to and will understand the happiness of financial freedom and independence. like Monica says “welcome to the real world, it sucks, but you’re gonna love it” that’s exactly the case when you become financially independent. it may seem scary initially, but as you come across experiences, it will keep getting better and easier comparatively. you can’t always expect your parents to support you right into adulthood. so, guys pull up your socks and prepare for your future financial independence because it’s yours and yours only.

finances can be tough, but not tough enough. if you set all your priorities straight, your goals won’t be fuzzy anymore. so, take your time and write down about how you see yourself in the future. people, get yourself together and lay down your financial goals for a better and clearer future.

hope you loved this blog. you might also like:

• top budget preparing tips for parents and teenagers
• top 10 best self-investment ideas for genzs and millennials
• what is an emergency fund? why it is important to have?
• top 13 personal finance book for a better financial future
• 50 30 20 budget rule – the golden rule of budgeting

saving and all is fine but tell us, is that money gonna be of any use if you haven’t gained any skill or utilised it in a better manner? the only answer is NO! so first, it’s super important that we understand the meaning of the word ‘self-investment’. anything that is helping you beautify yourself, grow or make you happy can have the title of best self investment. cause at the end, it’s you who you’re spending the bucks on

so without wasting any more time, let’s take a sneak peek at the best self investment ideas-

1. pay your debts

if you are trynna explore how to invest in yourself, we say the first thing is you pay off all the people you owe. If any. you can only look for more ways to pamper yourself once you’re free from all the debts.

have any friends you owe? or the rent, you can start with slipping the money in their pockets so that you get to do the things you love with the rest of the bucks. start off by making a list of the dues you gotta clear and focus on ticking people off of the list before you start pampering yourself.

2. learn a new skill

the best investment in yourself is to learn a new skill or well, maybe just strengthen the skill you already have. Crazy about art classes, or wanna learn a bit more about crypto? why not take classes on it to become a pro.

It’s really important for y’all to understand that when you are spending your bucks to learn something, you are actually spending those bucks to make more bucks. let’s say you are a social media enthusiast or a content creator. you took a course on how to handle your page and boom you would have a ton of followers before you even know. so my friends, join a workshop that you’re really passionate about. Right away.

3. begin with your side hustle

remember the travel blogging you always wanted to do? or the bakery shop you wanted to open online? now is the time to get started with it. there is literally no better way to invest in yourself than investing in your business. earning some extra dime while you are studying or working full time is always gonna be a boon. mo’ money, no’ problems!

a side hustle is mostly something that you do for your passion. and there’s nothing better if your passion turns into your profession, no? how cool would it be to make your art, sell it online while living your dreams. looking for the best self investments? well, here you go

4. pamper yo’ self folks

we all are different from each other and of course, so are our definition for best self investments. while some of you might be really passionate about side hustle or learning a new skill, some of us just wanna look our best and there’s nothing wrong with it. In fact, we all should save a small part to invest in our physical as well as mental health.

you can either take a gym membership, hit the spa to relax your body on a weekend. and wait, how can we forget about salons? you can also just visit a parlour to get a nice haircut, pamper your skin and bring out the most beautiful version of yourself

5. how bout starting a retirement fund?

someone said the best way to predict your future is to write it yourself and well, we just can’t get it off of our mind. one of the best self investment ideas is to invest in your future. and by that, we simply mean you can check out different projects to invest and start putting your money in it.

you can either take a small amount of money when you receive your salary or create a fixed deposit. if you’re looking for something which ensures risk but rewards, you can also consider using that money in a mutual fund. all you gotta do is search for a stable project and start investing.

6. Invest in your relationships

when we said you don’t have to invest in your crush, we weren’t really serious about it. Geez, hell no, we don’t wanna keep you away from making your guy/girl happy but hey, wait a second relationships go beyond just crush and lovers, right? if you ask me, how to invest in yourself, the answer is when you bring a wide smile to the face of your loved ones.

surprise your parents with a new pair of earbuds or well, cookies might do too. Send gifts to your friends and a blast of hearts to your partners. we’re pretty sure you are well capable of deciding the gift yourself

7. Read, watch and listen

are you someone who’s gaga over books? go buy your favourite books, read a lot and feed your brain. you can also consider taking membership to the library and keep visiting to check out the new collection. and oh, we all love movies, don’t we? Doesn’t really matter if you are a movie fanatic or not, there’s always a movie that we all love. book your tickets for the most recent movies and buy some popcorn to enjoy with it

and lastly, the food to our soul is music. Spending the bucks on a good music system is a dream. so take any music channel membership and check out all the songs. Get a device if you are into playing. yeah so, you were asking around for the best self investments? Can it be anything better than the movies, books and music? We say no.

8. Get a pet

if this didn’t get a wide smile on your face, we wonder what will. there’s no better way to use your money than to become a hooman. those lil paws, wagging tails and the cutesy eyes have us all heart warmed oh wait, in case you’re wondering, yeah we are an avid dog lover

but hey, you can get any pet of your choice and start spending some time with them. this becomes a necessity if you are a bachelor staying alone. what’s better than cuddling with a furry friend and getting loved as soon as you come back home. wondering how to invest in yourself? well, get a furry friend.

9. travel wherever you want

there’s honestly no better answer to how to invest in yourself than this. Imagine travelling the world, creating content and the best part of it all, you are getting paid to do so. you can either start your own blogging channel where you are putting deets of the underrated places or you can collaborate with a company.

several companies are on a constant lookout for artsy travellers so if you have good writing/photography skills, you might wanna consider freelancing. there are many homestays that are also looking for volunteers so if you’re up for community management, give it a shot.

10. some more things you can do with your money

We’re sure you can think of a thousand things when we say how to invest in yourself. Cause who wouldn’t like splashing themselves with love? Or well, pastries. Same thing. Here are some more things that you can do-

• grow your savings by trading
• join tuition or get a mentor
• replace the old items with new ones
• get your dream gadget
• donate the money to the needy
• hang out with your friends
• give a makeover to your wardrobe

honestly, there are many many answers for how to invest in yourself but the special hack over here is, you don’t have to splurge on things you are never gonna use. these were some of the best self investment ideas that we had.

if you’re a teen and shopping is your most fav thing in the entire world, don’t worry we’ve got you covered. apply for an akudo card & get crazy cashback and rewards on your bills. so how do y’all feel about buying it now and paying it later?

hope you loved this blog. you might also like:

• 7 superb tips on how to save money for future
• what is a neobank? why it is the future of banking in India?
• how to become financially independent (for teenagers)
• what is an emergency fund? why it is important to have?
• top 10 fun money management activities for parents and kids
• top 13 personal finance book for a better financial future

no one can predict when can a situation show up where you would need a special fund. (no, not even psychics) an unusual situation can knock on your door any time and that’s why it’s important to have an emergency fund saved up.

so to put it in simple language, an emergency fund is that money that you can use to deal with any unpredictable situation or even chime in your long term goals. are y’all ready to take a deeper dive into the emergency funds? So hop in the boat right away.

why are emergency funds important?

now you may neglect the power of an emergency fund only when you don’t know how important it is. Imagine having a date and being broke or maybe having an important function to attend right after your car broke down. sucks, right? you’d easily be able to tackle these situations if you have an emergency fund saved up.

here are some of the reasons why emergency funds are super important-

• helps you deal with an unpredictable situation
• doesn’t make you dependent on anyone else
• you won’t have to liquidate any asset if you have an emergency fund
• It maintains the financial sanity

types of an emergency fund

1. short term emergency fund

short term emergencies are the ones that you can tackle in a small sum of money. you don’t need to save a lot of money to take care of a short term emergency. Some of the cases are-

• repairing your vehicle or home
• have a spontaneous party for your crush :p
• unexpected family expenses
• medical needs or any health-related emergency

2. long term emergency fund

long term emergency fund actually requires you to save a larger sum of money cause the needs over here are bigger than short term investment. some of the long term investments are-

• job loss or a gap in work-life
• dealing with a bigger medical condition which will give a big bill
• shifting from one place to the other

The next question that pops into our mind is, how much money do we actually need to save, right?

The best judge on how much emergency fund to have is only you. emergency fund is different for different people. how? let’s say you’re a bachelor who’s living on your own in a tier 1 city. if you have rented a flat and bought a vehicle, you gotta have more emergency funds than a guy who’s living in a hostel without any vehicles. ideally, you can save up to 5000-1000 rs in your emergency fund. you can either save a larger sum of money in 3 months period or keep saving a smaller sum of money for 6 months.

emergency fund also depends on your status. As in whether you are single or married. While a single person wouldn’t have that much liabilities, a married person might have to save for their partners as well. it is advised to keep anywhere between 15000 to 20000 rs in your emergency fund.

and hey, if you have saved some extra you won’t be disappointed because sometimes the emergency might come in the name of your fav dress on sale. you might be able to afford it without feeling bad about it.

how much do you need to save for an emergency fund?

we all know how much we hate saving good things when you can use them right away, no? saving money for something that ‘might’ happen seems like a bad idea until you actually fall in that situation.

making a fund isn’t a superpower. that’s something you can start practising little bit until you eventually get used to it. you can just start keeping a small amount of money aside for your emergency fund. once you’ve reached the goal you can stop saving for some time.

if you are having trouble in putting the money aside and end up eventually splurging, you can create an autodeposit. Just set a small amount that you wanna save and the money would be stored automatically.

where should you keep the emergency fund?

you should keep the emergency fund at an easily accessible place. we mean, what’s the primary motive to have an emergency fund in the first place? to get the money at the moment you need it, right? We’d suggest you keep the fund as liquid as you can (if not all then at least some part of it) the rest part you can create a digital fund.

The best part is you would also be able to get a small amount of interest on the money you’re saving. keep one month’s saving aside as a liquid fund and from the second month you can directly create a deposit for the same.

You can get anywhere between 2 to 6 per cent interest on your emergency fund if you are storing them digitally.

Summering it up-

now that you are aware of what emergency funds are, get set going on it. you can start simply by jotting down your priorities, see what part of your living would require an emergency and create funding accordingly. your living condition has a lot to do with the fund so saving less might make you land in trouble.

usually, the term emergency fund is confused with rainy day funds while they are honestly 2 very different funds. While emergency funds, as well as rainy day funds, are both used to save unpredictable situations, they are used very differently. if you wanna know what a rainy day fund is, you can simply click here and read more about it.

so fellas, ciao!

hope you loved this blog. you might also like:

• top 13 personal finance book for a better financial future
• what is a neobank? why it is the future of banking in India?
• top 10 best self-investment ideas for genzs and millennials
• NSE vs BSE – definition and major differences
• 50 30 20 budget rule – the golden rule of budgeting

as much as we should enjoy the prime of our lives, it’s also important that we throw some spotlight on our future. (who doesn’t wanna retire at 35, right?) so without any further ado, let’s hop in the rollercoaster and take a sneak peek at the crazy ride of savings.

7 best money-saving tips for the future

• start tracking your expenses
• root for savings from your budget
• set your priorities
• look for ways to cut down on your spending
• opt for automatic savings
• set savings goals
• get a side gig

1. start tracking your expenses

you can only work on your weaknesses if you’re aware of what they actually are. similarly, in case you wanna start saving, you have to know where are you spending em’ bucks. for starters, you can create a note on your phone and write down all your monthly expenses. you can also choose a free expense tracker online. this is a pro tip on how to save money for the future, start it as soon as possible.

2. root for savings from your budget

now that you know what does your monthly spending look like, you can finally start rooting for savings. make sure to draw a line between your wants and needs (easier said than done, we know pal. We know) try not splurging on things you can easily survive without. and at the end of every month, take some money out and put it in the savings fund.

3. set your priorities

once you set your priorities, you know what to spend on and what you can easily skip. setting priorities is a quick answer to how to save money for the future. if paying tuition bills to top your list of monthly spending, you’re most likely going to escape buying a new PSP or lipstick.

now just imagine. you haven’t set a priority list and splurged on shopping while you had to pay for college bills. see, money mismanaged. so fellas, talking about your crush or expense, you always need to set the priority to get things done.

4. look for ways to cut down on your spending

whether we talk about ordering food more often or maybe just buying clothes you’re never gonna wear (that’s a thing, right?) it’s important to have a reality check. we’re teens and we’re okay being young dumb and broke but we’d certainly not wanna sing this song in our 40’s. one of the greatest hacks on how to save money for the future is to cut down on your spending.

try filling your cart with budget-friendly products instead of a huge a*s expensive list. try having products in bulk rather than getting them every time. cancel out any subscription and memberships that you don’t use (your gym one, for instance. )

5. opt for automatic savings

accept it or not when it’s up to you, you’re never gonna save the money. and that’s exactly why auto deposits were created. now whenever you wanna save the bucks, you can do it right after the money gets deposited in your bank account.

you can set a limit that has to stay in your account. if the limit exceeds it, the money would be sent to the fixed deposit automatically. some say this is practically the smartest way if you’re asking how to save money for the future.

6. set savings goals

When you set a savings goal, you try to achieve it. start a simple goal, let’s say you wanna save money for your future. now, why do you wanna save it? do a smart distribution of the money accordingly. if you wanna retire at 30, you’ll have to try a bit hard while if you wanna retire a bit late, you can still save but in a laid back manner.

there are two sorts of savings- 1. Short term savings and 2. Long term savings. while short term savings can be for the near future, long term savings will ensure a chill vacation in the Bahamas when you’re 40.

7. get a side gig

if you have tried everything and feel savings just isn’t gonna happen with the money you make, it’s time to get a side gig. whether you’re a student or an adult fighting through 9 to 5, you can get a freelancing gig easily- online. all you gotta do is find a project that you can accomplish, create some samples and send it out.

now that you’ll have a freelancing gig, you can use a small amount to treat yourself and create an auto-deposit for the rest of the amount that you are getting. oh and with that being said, we’re constantly lookin’ out for freelancers. think you have talent? let’s have a chat.

summing it up,

these are some of the tips on how to save money for the future. it’s very hard to resist a nice dress or ordering your comfy food from outside. but saving and investing will always help you prepare for your future.

if you’re a teen, you gotta take the charge. get yourself an akudo card. not only would you be able to handle your own expenses, but you would also be getting some of the most mind-blowing offers and of course rewards. so bros, what are y’all waiting for? Go take a step towards financial independence today and savings would follow.

hope you loved this blog. you might also like:

• top budget preparing tips for parents and teenagers
• what is a neobank? why it is the future of banking in India?
• how to become financially independent (for teenagers)
• NSE vs BSE – definition and major differences
• top 10 fun money management activities for parents and kids

mo’ money sure is mo fun but along with it comes splurging issues and that, my friend. that’s exactly what you gotta work on. little activities can make you teach your kids a lot. so without wasting any time further, let’s hop on the money management train cause it’s gonna be one hell of a ride

10 fun money management activities you gotta try out right away with kids

• who saves the most?
• pizza slice budget
• truth, dare & situation
• tell them about your investment profits
• go shopping with them
• play monetary games like monopoly
• watch finance-related movies with teens
• tell em’ a story or maybe just an experience
• do some time travel
• get them an akudo card

1. who saves the most?

honestly, sibling jealousy has the power to make your little ones do anything. so the next time, you might as well wanna use it to throw a fun game. tell your lil ones you’re throwing a savings competition. give them some pocket money and whoever saves the most by the end of 6 months will have extra money or maybe a lil treat.

why compare your kid to Sharma ji ka beta when you can compare them to your own kid this is not just a fun money management activity for kids but will also teach a thing or two about the importance of money.

2. pizza slice budget

a cool parent always knows how to teach their kids out of anything and honestly, we’re just trying to make you cool. having a pizza night? your kids are probably already very happy which makes it the best time to make them understand some budgeting.

when the pizza arrives, you can name it as your income. now separate the slices and represent them as your expenses. give the slice of ‘savings’ to them, telling them it’s who you’re earning for.

3. truth, dare & situation

no matter which fun money activity for kids do you host, it’s not gonna be as lit as the classic truth, dare and situation. you can play truth asking their kid where did they spend the money that they received from nani or well, if they sneaked out some bucks from your wallet.

you can also dare them to save their money for 1 month and if they cheat, you’ll be calling dibs on the money they’re gonna get from the relatives. but honestly, now comes the best part, the situation bit. here you can put your kids in the imagination mode and check their management skills. ask them if they had 1000 becks, how would they use them.

4. tell them about your investment profits

when you give your kid money, you help them feel rich temporarily. When you give your kids financial knowledge, you’re telling them how to cut their way into the world of the rich. the next time you have any profit from your investment, make sure to tell your kid about it. what’s a more fun money management activity than mutual funds and crypto?

if you have a kid who is on the verge of their teens, you can also take their opinions on which project you can invest. kids absolutely love when parents think that they have some idea of finance. Two days later, you’ll find your kid studying about something new, advising you where to invest.

5. go shopping with them

although one might not realise it but it’s only through the daily activities that we influence our little ones to manage money. if you wanna literate them about smart buying, you MUST take your kids even when you’re going shopping. the art of haggling, choosing affordable products over the expensive ones and well, getting the perfect sale offers come from here.

make sure to keep on teaching your kids about the brands you’re choosing and what’s the reason for you choosing them. the next time you go shopping, the kids would already know what to choose.

6. play monetary games like monopoly

playing monopoly is one of the most fun money managing activity for kids. this way, you’re getting to teach them about money while spending some quality time together. monopoly is actually a pretty smart option. along with managing the bucks, the kids are also getting a hang of where should they invest to make their money rise.

so from now on, whenever you want to do something fun, just take out the monopoly board. or if you wanna have some quality time with your little ones over the weekend, just get the snacks ready.

7. watch finance-related movies with teens

if you ask us, there’s nothing better than a movie night, especially when you’re getting to teach your kids about money. of course since Money Heist or Squid game is not something you would wanna show your teens. so you can just look for kid-friendly movies that also talk about money and how to utilise them properly.

however, make sure to not be so assertive. Let the kids enjoy the movie first. Keep on asking what would have they done if they were in this situation. Kids love the world of imagination so be prepared to hear some of the most amazing answers

8. tell em’ a story or maybe just an experience

storytelling is also a very fun money managing activity for kids and don’t let anyone tell you otherwise. Have an interesting story where you were stuck in a monetary situation and there was no way out? Or well, the time when you almost hit a treasure box.

kids learn the best when you tell the experience to them you can also just read out Aladdin story and ask them what would have they wished for if Alladin came to them. oh and never forget to fit in the lesson everywhere.

9. do some time travel

your kids would understand the wealth effect the most when you follow up with the social media trend. make them write, draw or imagine where do they see themselves in the next 10 years. What is their dream house like, what do they do as their profession?

and now coming to the most important question, ask them about the price of the resources. like, come on we all know things like gas, petrol are gonna be super expensive, might as well be prepared for this. also make your kid understand why is it important to save resources along with the money.

10. get them an akudo card

kids would only be able to understand the importance of money once they get to handle their own expenses. you can get an akudo card made for your kids, this prepaid card will allow your kids to shop on their own, giving them a sense of independence.

plus, how cool is that? a kid having a card. woah. and wait, that’s not it. We’ll also give the best deals so that your little ones compare before shopping and try to save as much as they can.

some last wise words of wisdom,

these fun money managing activities for kids are the best way to make them walk on the path of financial freedom. we’re all in to break the traditional stereotype of taking finance all seriously.

so these were some of the activities that you can try out with your young buds to learn about money managing in the most amazing way possible. Try it all out and let us know which one worked out the best for y’all folks.

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but when it comes to family life, creating a budget for household expenses is a different ball game altogether. you are responsible for managing a budget for people who are dependent on you like your children, partner, parents, etc. here we will tackle how to budget monthly expenses for your family and with your family. a joint effort makes it easier to consider things that one person might forget. so, let’s get started.

parents, first let us look at how you can efficiently prepare a budget considering your kids’ needs, their expenses and the regular household expenses.

top budget preparing tips for parents in 2022

• determine your total family income
• prioritize your financial goal
• magnify into your expenses
• distribute your income
• breakdown your savings
• use budgeting apps

1. determine your total family income

first and foremost, calculate the total family income after deducting the potential taxes. you may have multiple income sources like salary, real estate, interests on investments, etc. also consider your assets that can be used in case of emergencies. let’s not forget the debts if you have any. once you have all these things cleared, it will help you to determine the goals that need to be achieved. these goals can be long-term or short-term. long-term goals like your child’s education, college fees and more. short-term goals include purchasing a new home appliance, splurging on a shopping spree or a close relative’s wedding. we can’t overlook a big fat Indian wedding now, can we? it will also help you understand how to prepare a budget to fill up financial gaps, if any, proactively.

2. prioritize your financial goal

gone are the days when an individual was happy with the same old 9-5 job with the same salary for years. now everyone wants to accelerate through their careers with flying colours of rewards and recognition. everyone is into investments and the second source of income to provide the best for their families and kids’ futures. so, it is advised to set a financial goal for yourself that will motivate you to, as a family, to strive for it and will help you prepare a budget for those goals. your financial goals could be paying all your debts, buying your own house, retirement etc. with so many options on investments like SIP, stocks, cryptocurrency, etc, it is time for you to start planning now itself. at akudo, we can help you research the best investment options for a better future.

3. magnify into your expenses

many times we don’t realize how and where we are spending our money on a monthly basis. with so many small and regular expenses, it sometimes gets difficult to keep a track of such expenditures. this also causes a hit on the monthly budget. so, you need to start looking closely into your expenses. but the question still remains on how to prepare a budget considering smaller and spontaneous expenses. well, in that case, you can set aside a certain amount for miscellaneous expenditure and at the end of the month check whether it was used or not.

p.s. party hard if you haven’t spent all your miscellaneous budget. there needs to be a time to reward yourself :p

4. distribute your income

the biggest mistake we make is that we don’t take into account the priority of our expenses. we splurge without thinking or we don’t budget our income appropriately. so as a family, the best way to cover all expenses which include necessities and luxury is to break down your income into sections. divide your income primarily into three categories – bills & necessities, savings & debts and non-essentials. decide on the breakdown percentage as per your household needs and future goals. this is how you prepare a budget that is sustainable. for newbies, below is the best way to divide your income and expenses to create a budget. it’s not rocket science.

• 50% of your income should be dedicated to regular bills and essentials like groceries, electricity bills, petrol, school fees, etc.
• 30% on non-essentials and luxuries like a vacation, shopping spree, partying, etc.
• 20% should go into savings, investments and monthly debts

however, please ensure that you stick to the breakdown that you have created for yourself and your family.

5. breakdown your savings

now let us talk about the best and most difficult part of making a budget. savings! however old you may be and in whatever stage of life you are in, you need to set aside a certain amount of income towards savings. these savings need to further be broken down into long-term savings, investments and emergency fund savings. long-term savings will be dedicated towards retirement plans, life insurance, college funds, your children’s wedding, etc. emergency funds will be directed towards medical emergencies or any other unpredictable mishaps or expenses. you can never know what the future holds, so make sure you are at least prepared to face it.

6. use budgeting apps

we can’t stress enough on this, but when you have a whole family budget to make, using budgeting makes your life easier. you can easily keep track of all your expenses, savings and unnecessary purchases that were made. the budgeting apps will also help you reach your financial goals and help you in ways to achieve these goals. how to prepare a budget just got easier. you can use budgeting apps like mTrakr to track all your finances.

now as a family, it is not only the parents’ job to prepare a budget and live by it. as a part of the family, it is the children’s responsibility to also be responsible when it comes to finances.

we are here to tell you ways in which you can help your family prepare a budget and set your own financial goals for the future.

6 budget preparing tips for kids and teenagers

• help in preparing a budget
• start by setting goals
• ask for a savings account
• use budgeting apps
• track unnecessary expenses
• take into account upcoming expenses

1. help in preparing a budget

actively involve yourself in preparing the household budget with your parents or other family members. take ownership and voice your opinions and learn about finances from them. this will not only make you financially independent but will also prepare you for future financial responsibilities. it will also enable your parents to see you as a responsible person rather than an immature kid with no care in the world. you can learn how to prepare a budget with us.

2. start by setting goals

like your parents, you need to start determining your saving goals with the pocket money that you receive. the first step in responsible finance is to save money, even if it’s a nominal amount. if you want to buy an Xbox, start saving a certain amount every month without fail and celebrate the happiness of buying something on your own. thus, it is very important that you set your goals very clearly and strive to achieve them by creating a budget and goals. that Xbox will be yours.

3. ask for a savings account

ask your parents to open up joint savings account with you so you can earn interest on your savings. you can also open a neo bank account with akudo and earn interest on the same. as a minor, you can operate on custodial bank accounts and contribute towards your savings as per your budgeting plans. create a budget of saving at least some per cent of your pocket money or any other income in your bank account. start early, start wise friends.

4. use budgeting apps

the best way to track budgets and monitor expenses as a teenager is to use budgeting apps. make responsible choices and reach closer to your goals with these apps with this tip on how to prepare a budget. with budgeting made easier, you can now focus on saving and starting a side hustle of your own. you can also start looking at multiple investment options and secure your future. heavy, right? but don’t worry, it’s easy peasy.

5. track unnecessary expenses

as a young soul, splurging is like breathing, but as you step into a responsible stage of life, you can start tracking your unnecessary expenses. to follow the budget that you prepared, you need to look for cuts in your expenses that will help you achieve your goals. this unnecessary expense could be ordering in food when there is food at home, taking a cab or rickshaw when you can simply walk the distance or simple impulse buying.

6. take into account upcoming expenses

to maintain your prepared budget, you need to learn how to budget upcoming expenses. if you have any birthdays coming up, a party or any trips, etc. take into account the anticipated expense that it will incur. don’t wait till it happens and then budget it. if you budget it beforehand, you will be prepared for how much you can save and spend accordingly. better safe than sorry, right?

so, families and their kids, are you ready to take on the month with these budgeting tips? if yes, go ahead and make us proud!

hope you loved this blog. you might also like:

• 7 superb tips on how to save money for future
• what is a neobank? why it is the future of banking in India?
• how to become financially independent (for teenagers)
• NSE vs BSE – definition and major differences
• top 10 fun money management activities for parents and kids
• 50 30 20 budget rule – the golden rule of budgeting