RupeeWise Finance Blog

  Have you once gone shopping with your thousand bucks and felt like your money is vanishing right after paying a bill? You went to the market, bought a few things, had a meal somewhere, or availed services worth a substantial amount! But then you realized that your money is gone faster than you anticipated! Something similar must have happened to you a couple of years back; you would have got double the items for ₹1,000. What is it that makes our money shrink after a certain period? One of the biggest culprits is inflation. Inflation is something that we hear about quite often but do not fully understand! It is something that we realize the effect of when our vegetables’ price goes up, our favourite dish becomes expensive, or when our travel budget increases! It may also affect your savings, salary, or investments. Therefore, it is essential to know what inflation is, why it occurs, and how an average guy can tackle it! Let us begin by understanding what inflation is! What Is Infl...

At first, not saving money can feel quite innocent. Your bills and rent get paid, things you want buy, and you rationalize that you will save money later. Many people can do this for years, as life often demands that we prioritize our immediate needs over future desires. But what happens after a decade of no savings? How does this affect an individual and their financial situation? This is the story of what happens in 10 years' time to somebody who does not save. THE FIRST YEAR Is usually fairly innocent as things seem to flow fine. You get paid, take care of your expenses, and have some money to spend on things you enjoy, or whatever you need. If something were to happen, it could usually be managed as it is either not that expensive or you could use a credit card or loan. Life seems okay, and money is not particularly stressful. It seems almost unnecessary to save as not much seems to happen anyway Your lifestyle seems to be working, and you feel you have no other need for saving...

Saving your first 1 Lakh in India is a huge achievement for any individual. It means that you are mature enough to think about securing your future, and not only about the present. The first time you see 1,00,000 INR in your savings account, it will fill you with a sense of accomplishment - no matter what your age or financial status is. However, if you have never saved money in your life, 1 Lakh can seem like an unreal sum that no one can ever collect. The good news is that it really isn’t! Therefore, in this article, we will discuss how to save your first 1 Lakh. But before we proceed to the main topic, understand that this is an honest and simple guide in an easy-to-read language. It is aimed at all kinds of people: students, working individuals, those just entering the job market, mothers, everyone who aspires to have a decent amount of personal savings one day. Why Saving Our First 1 Lakh Is So Important? Maybe you were always wondering why we are encouraged to collect at least 1 ...

Introduction Think about your last purchase. How did you pay for it? Did you pay via cash from your pocket, UPI QR code scanning or swiping your credit card? A few years back it was common for Indians to carry cash with them, but the scenario has changed considerably today. Thanks to smartphones and technology, cash has been sidelined and UPI has emerged as the new hero. Credit cards on the other hand are gaining ground everyday due to attractive rewards and cashbacks. But have you ever pondered on how the mode of payment impacts your spending? Many people believe that cash helps them stay within their budget while others feel that UPI is the easiest option as it takes only a second to make a payment. Some users prefer credit cards as they have attractive rewards, cashbacks, discounts and easy EMI options. So how different are these payment methods? Which one actually helps you save more? It’s true that all three payment methods have their pros and cons. It ultimately boils down to per...

  Have you ended a month asking yourself, "Where did my money go?" If yes, you are not alone. Many people think that they can only get out of financial issues if they increase their income. But the truth is, sometimes people with a higher income are unable to save more than those with lower income. What matters is not the amount of money you make, but how well you handle it. That is why there is a need for you to learn to avoid some financial mistakes that many people make. It is not that they make big errors at once, but they end up losing more money due to some habits that they have. The great thing is these mistakes or habits can be addressed. In this article, I will be talking about different money mistakes that many people are making every year, and how to address them to prevent losing any more money they don't intend to lose. Money Mistakes 1. Don't know what to do with the salary Many people don't understand that it is not important how much money they mak...