Why every Indian taxpayer should read this guide to Personal Finance? — Part I — Cashflows

“Oh, My husband manages all the finances; I need not worry.”

Excellent! You do trust your husband! My mom did that, too, until my father took his last breath.

Well, I am also guilty of leaving the financial planning to my husband, which he has done an excellent job at.

The question here isn’t the trust but rather the lack of basic financial awareness and the capability to make decisions. When my father passed away, my mother had no clue about the financial instruments he had been investing in or how they worked.

90% of the women need help understanding personal finances, and they, most of the time, depend on their father or husband to do it. Many men also need a clearer understanding of investment instruments.

In this post, I am trying to explain the basics of Personal Finance, and This post isn't a calculator but rather a framework that anyone can follow.

Before we jump into money, lets us first understand inflation

Inflation is when the prices of goods and services go up over time. This means that the same amount of money can buy you less than it could before. For example, if a candy bar cost 100 Rs today, it might cost 105 Rs or $108 Rs a…