Stock Trading Is Not Investing

Stock trading isn’t making money while you sleep. Typically traders do intra-day trades. Which means the trade begins in the morning when markets open and is done by the time it closes. Nothing happens overnight.

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Take Action: Create An Emergency Fund

Think of your emergency fund as the umbrella in your backpack. I hope you never have to use it, but it’s important to be prepared.

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About Bank Accounts, Debit Cards And Credit Cards

TLDR: Have as few of these as as possible. Try to keep your finances clean and de-cluttered right from the start.

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Stay Away From ULIP – Never Mix Insurance And Investment

I think ULIP’s were invented because the average Indian could not digest the idea of paying a premium each year for life insurance and not getting anything back when the term ends. It’s really hard to sell. But if you charge twice the premium and invest half of the money in the stock market and return the profits from that half, then it’s easy to sell!

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Debt Mutual Funds

Debt mutual fund is a semi-secret gem that not many really talks about. Debt mutual funds primarily invest in Debt instruments like government and company bonds, Treasury bills (T-Bills), debentures etc. They hope to generate a fixed income.

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