https://padlet.com/amritadbarodia/i7trggqb4csmyk21 Made with loads of reseach en-us 2022-04-02 14:02:06 UTC 2025-12-23 22:01:56 UTC hello@padlet.com https://padlet.net/icons/png/1f4b0.png amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126516938 2022-04-02 14:15:12 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126516938 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126517993 It is of utmost importance to have a safety net when it comes to financial, because we never know when well need it.
Situations after Covid-19 made this exceptionally necessary.
We shall see in the following post how to do just that.]]> 2022-04-02 14:16:55 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126517993 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126522489 The first step to take in the maze of financial planning if you are a new-bee to this is to talk to someone experienced and someone who gives a right, calculated advise.
You will see a lot of people giving you advices but not all know what they are talking about. A financial advisor studies your finances in particular and makes a plan which is specific to you and your finance. They have the knowledge and experience to provide you a plan which will work perfectly for you and you alone.
This website talks about the content and services provided by a financial advisor which is personalized for your financial needs ]]> 2022-04-02 14:22:55 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126522489 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126530248 When we think of financial planning, retirement pops up in your head but financial planning is not only for retirement.
We can divide it into short term and long term goals and put aside money for each goal as they line up.
May it be paying for the next semester of your course or a vacation you have been meaning to go to, it all requires a calculated plan.
This website talks shortly about how to plan for every type of goal and even gives case studies to understand every type of financial plans ranging from retirement of a after-graduation scenario.]]> 2022-04-02 14:34:01 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126530248 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126532929 Making a financial plan is hard and you could use every help you could get to make it as simple as possible.
There are a ton of websites and applications to help you with that but we can not use any and every. It is a very important step towards your financial growth and hence you need trusted websites and applications for that.
This website lists 10 most trusted and simple application that you can use to help you with your planning needs.]]> 2022-04-02 14:37:50 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126532929 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126532965 To make a Safety net the first step is to make a financial plan. A plan starts with noting down everything that you have and earn every month. You can start this by simply making a list of all incoming money on one side of a paper. On the other side of the paper you could right down every expense, or outgoing money. This gives a summary of the cash flow every month. 
This website provides a step by step procedure to make a functional financial plan starting from the very basic. It even shows examples and gives templates to make your own financial planner. ]]> 2022-04-02 14:37:54 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126532965 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126536128 After having seen and heard a  lot of advices it gets a little confusing on where to start. I was too, but then I heard about this rule and it has been a life savior. 
This rule is very simple and effective. You just have to calculate your total income and calculate the ratio out to savings and expenses.
You put out 50% for your needs, 30% for your savings and 20% for wants.
This video explains this at length to make more sense out of it.]]> 2022-04-02 14:42:02 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126536128 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126536847 As a student its hard to handle your finances on your own. But it is first step towards your independence and one of the most important responsibility.
It is especially har on an international student because along with rent you even have to pay a huge amount of fees.
This video shows a number of ways a student can save and various strategies that might help students spend less and save more. ]]> 2022-04-02 14:43:05 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126536847 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126537534 Once you have a financial plan you need a budget to work with. A budget helps you save enough money to attain the goal you planned.
A budget tells you how much you need to save in a particular time frame, for example a month. Once you decide how much money you have left, you can then divide it between your needs and wants.
This video gives a detailed information as to how to create an effective budget that will help you reach any fianancial goal.]]> 2022-04-02 14:44:05 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126537534 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126539271 To achieve anything, you should first have a clear GOAL. Goals give you a vision on which to work. Those goals, at the same time, should be clear, achievable and smart. If your goal is unclear, anything you do will not make sense.
This picture tells us what our goals should look like- SMART!]]> 2022-04-02 14:46:36 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126539271 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126549095 There are several ways of making a passive income, just like that there are several ways to creating a safety net. These include eliminating or reducing your debts, creating a sticking to a budget every month and so on.
This picture depicts exactly how you can make a safety net in several ways. ]]> 2022-04-02 15:02:37 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126549095 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126549797 Like we talked about several ways of building a safety net in the previous image, it is important to know how each one works.
Every options has t be thought of in depth and evaluated before taking any steps.
This video talks about all your options which will help you in making a safety net and also how each one works.
This video is short but effective and doesn't beat around the bush at all.]]> 2022-04-02 15:03:48 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126549797 amritadbarodia https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126552910 1.)What did you learn about your topic that surprised you the most?
The most important thing I learned was how to build a safety net and how having a budget can save you from falling in the debt trap.
2. Provide a real-life example of how this topic is relevant or interesting for you.
I am an international student and I have to work out a way for myself to pay my own fees and this matter helped me make a budget for my fees.
3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?
The 50/30/20 rule is very useful if you struggle with understanding budget and savings. It is straight-forward and simple. I would pass this on to anyone needing financial help.]]> 2022-04-02 15:08:40 UTC https://padlet.com/amritadbarodia/i7trggqb4csmyk21/wish/2126552910