How to Manage Your Money | Personal Finance Class 1 | Neeraj Arora

Free notes for Class 1 are available here: https://academy.learnn.club/courses/P...

Learn about Mutual Funds with me: https://academy.learnn.club/courses/I...
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Welcome to Class 1 of Neeraj Arora - Personal Finance Classes.

In this class, we are starting Personal Finance from scratch.

Before we talk about Mutual Funds, SIPs, Stocks, Credit Cards, Tax Planning or Investing, we need to understand something much more basic:

How do you control your spending and manage your money?

In Class 1, we discuss simple but powerful principles that can completely change the way you manage your money:

What should happen to your income first - saving or spending?
The equation: Income - Savings - Necessary Expenses = Guilt-Free Spending
How to create friction in your spending?
Why cash can feel different from UPI and digital payments?
How to use a separate UPI Buffer Account for discretionary spending?
The 24-72 hour rule to control impulse purchases
When credit cards and reward points can actually become harmful?
Why rewards are not worth it if they make you overspend?
How to separate essential expenses, investments and guilt-free spending?

This is Class 1 of a long-term Personal Finance learning journey.

I am not here to give you random financial tips.
I want to teach you Personal Finance step-by-step, from the very beginning - just like a teacher teaches students in a classroom.

So keep a notebook, participate in the comments and follow the complete series.

Timestamps-
00:00 Introduction
00:45 Tip 1- Most Important Aspect of Investing
03:04 Exciting News for this Channel
04:31 Tip 2 - Friction
07:54 Tip 3 - Buffer Account
10:36 Tip 4 - Delay Rule
13:08 Super Exciting News
14:14 Tip 5 - Credit Cards
16:24 Takeaways