Without going bankrupt.

Image for post
Image for post
Photo by Obi Onyeador on Unsplash

There are two types of people — those who find it hard to save, and those who find it hard to spend. Yes — hard to spend. Either because we go overboard and spend more than we meant to — cue the self guilt-trip, or we are simply too anxious to spend, fearing the first outcome.

I definitely belong to the second category. I am a ‘saver’ at heart, always looking for a ‘frugal’ way out, and I would rather save than spend. …

Even if you have no hustle-worthy skills

Image for post
Image for post
Photo by Garrhet Sampson on Unsplash

Every time you turn around, it seems there’s a new side hustle in town. None of which you can do. Why is it that all these ideas require you to be a prolific writer or be able to teach English to students in other countries?

Well, I’m a firm believer that hundreds of hustles exist, if you just look hard enough. Sure, not all of them will be worth the effort or time, but the idea is to get into a mindset where you spot opportunities everywhere you look — only if you can manufacture these opportunities, can you then decide if it is something you want to try or not. …

Maintaining a fine balance between saving too much and depending on an uncertain windfall.

Image for post
Image for post
Photo by Gita Krishnamurti on Unsplash

The “Great Wealth Transfer” is coming — the transfer of money from the frugal baby boomers to their spendthrift millennial children. Some of us are blessed enough to anticipate some form of this inheritance. Whether it is a small sum which would, nevertheless, be good to have, or sizable assets, dealing with inheritance is always tricky. Keep in mind, the median inheritance is $69000, which is nothing to scoff at.

There is no other future income which is this uncertain. Sure, you can say business income is. But you would, as a prudent businessman, have some idea regarding the kinds of inflows or outflows that come with the territory. Inheritance, on the other hand, is in a completely different league — you don't know whether you will receive a few dollars or a gigantic portfolio of real estate spanning twenty countries. …

If you should, and when you should.

Image for post
Image for post
Photo by Sharon McCutcheon on Unsplash

The conventional wisdom goes that one must never lend to a friend — or risk losing the friendship. Does this wisdom still stand in a time where having a stable income and some savings is something only a few of us are blessed enough to have?

In a single word, the answer is no. The situation has deteriorated to a point where even otherwise ‘responsible’ people, who worked good jobs and lived within their means and kept their heads down, are floundering. The fact that some of us have kept our jobs has more to do with which industry we happened to be working in, and less with our supposed importance. …

And no, I don’t mean the size of your inheritance

Image for post
Image for post
Photo by Sai De Silva on Unsplash

Families - we all love to hate them. We all know they have a huge effect on most aspects of your life — your education, your marriage, and most importantly, your mental health.

But what about your financial future? Apart from the usual suspects like leaving behind a huge inheritance, sponsoring your education, or giving you shelter for free, there is something else that you are bequeathed by your family, which is exponentially more important than any of these — your money mindset.

These are the five money decisions where the financial values that your family held are important determinants:

1. Debt or no debt

There are two kinds of families that lead to excessive debt appetite among their offspring — the ones with excessive appetites themselves, or the ones who avoid all debt at all cost. …

Apart from writing consistently and being correct grammatically

Image for post
Image for post
Photo by rupixen.com on Unsplash

The ultimate goal of every writer is to get published. Scratch that — the ultimate goal of every writer is to get paid for their writing. But getting published is on the road to that — you can probably get published without getting paid, but it is well nigh impossible to get paid without being published.

Although writing decently well and being grammatically correct are the sine qua non of being published, they are so obvious that they do not bear repetition. …


In three simple sentences

Image for post
Image for post
Photo by Chris Liverani on Unsplash

All investment gurus are scamsters. Think about it. If they really knew exactly how to invest to gain exponential gains on their money, would they waste time writing books and conducting lessons to teach losers like you and me? I wouldn’t!

The truth is that squiggly lines and candle graphs are all justifications for an entire industry of investment professionals, instructors, personal finance gurus, and mutual fund advisors to earn millions, on the back of retail investors who are just fatigued by the plethora of information available. Who produces this information? The same industry. …

No, your 24 hours is not the same as my 24 hours.

Image for post
Image for post
Photo by Nathan Dumlao on Unsplash

A famous quote goes,

“Everyone has the same 24 hours — it is what you CHOOSE to do with them”.

The pandemic version of the quote is,

“If you don’t come out of this Lockdown with — A New Skill, More Knowledge, Better Health & Fitness, you never lacked time. You lacked discipline.”

Let me just articulate my position right away — these happen to be some of the more annoying quotes I have heard, and I’ve heard many.

If you take it quite literally, then yes, all of us do indeed have the same number of hours in the day — but when has taking something literally ever helped in bettering yourself? …

And how to avoid falling for the main source of marital conflict

Image for post
Image for post
Photo: Sandy Millar/Unsplash

Apart from the usual suspects like the inheritance and education you receive, the industry you work in, and how long you work before you retire, certain highly intimate events in your life have a significant impact on your finances.

One of these events is getting married. Marriage can make you or break you financially.

However, just as importantly, finances can make or break your marriage too. If you are one of the lucky ones who get married to someone with a similar financial aptitude, you are much likelier to make it in the long run.

But even if you haven’t, don’t worry. A checklist may not solve all your problems, but it’s an excellent place to start and help shine the light on all those differences in opinion that were hidden in the dark during the honeymoon period. …

Do them once, and reap the benefits forever.

Image for post
Image for post
Photo by Stephen Phillips — Hostreviews.co.uk on Unsplash

I love productivity hacks. Except when they promise me the world within 60 seconds. Sometimes, 60 seconds is truly all you need (one of my favorite 60-second hacks is linked here).

And then there are some other hacks, where the set up is just so excruciatingly painful — but the results are, in a word, beautiful. One simply has to put their head down and get these done. But the good news is that they will keep paying you back in saved time, money, and honestly, mental peace, for years if not decades.

So, without further ado, here are three torturous life hacks, but which are worth every second of pulling out your…


Priyanka Mashelkar

Tax-woman and lover of personal finance. Get my handy Personal Finance e-book covering all the basics — https://mailchi.mp/d6a5c714847e/crash-course-e-book

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store