Wealthly Personal Finance Coaching

💣 Money Myths: I Can’t Invest Because I Don’t Have Enough Money

You don’t need a large sum to start investing. Many platforms allow fractional shares, so you can invest with small amounts. Consistent contributions over time matter more than the initial investment. Also, keeping the returns added back to investments can kick the compounding effects to its best use.

Start saving and investing today to get the compounding to your advantage.

😱 Did you know that there is around 3 trillion rupees lying in savings accounts losing money 2% of more every year? 🥵 That's a staggering 60 billion rupees!

Sri Lanka's personal savings rate is around 30%, but do we do a good job in growing that money enough? This video talks about where the Sri Lankans have invested and what options do we have to improve the return of our investments.

This video is in Sinhala language.

ඉතිරිකිරීමේ ගිණුම් වල තියෙන ට්‍රිලියන තුනක මුදල් වලට වෙනදේ දන්නවාද? Did you know that there is around 3 trillion rupees lying in savings accounts losing money 2% of more every year? That's a staggering 60 billion rupees!Sri L...

💣 Money Myths: I Can Time the Market Perfectly

Many people believe they can predict market movements and buy low, sell high consistently. However, even professional investors struggle with market timing. Instead of trying to time the market, focus on long-term strategies, such as dollar-cost averaging, which reduces the impact of market volatility.

🧐 It is difficult to fully offload the burden of managing your finances to others. Being responsible for your finances and your financial future is a difficult task for many. Yet, it's essential!

😎 So, how should one learn to manage money? This short video talks about a few simple avenues that adults can learn to be better at managing their money.

This is a recorded session at Q4US

How to learn to manage your money? It is difficult to fully offload the burden of managing your finances to others. Being responsible for your finances and your financial future is a difficult...

💣 Money Myths: Investing in Stocks Is Like Gambling

While both involve risk, investing in stocks is fundamentally different from gambling. In the stock market, you’re buying ownership in real companies that generate profits, innovate, and contribute to the economy. Over time, well-researched investments tend to grow, especially if you diversify your portfolio. Gambling, on the other hand, relies on chance and luck, with no underlying value creation.

💣 Money Myths - The More Money I Have, the Happier That I Will Be

While there is a link between money and happiness, it’s not as strong as you might think. Research shows that millionaires aren’t necessarily extremely happy. Having more money doesn’t shield you from life’s challenges, such as illness, relationship issues, or worries about politics and the threats. Instead, focus on managing your finances wisely to achieve peace of mind and a measure of happiness.

⏰ Suze is a famous American financial advisor and author who gives a hint on how we should prioritize different things in life

1. People first by taking care of yourself first, then your loved ones and build meaningful and deep relationships with those around you, those who you care. That's more valuable than money.

2. Then, make sure you can live debt free with safety nets like the emergency funds and insurances to live a worry-free life.

3. Buying things, especially the luxuries should wait until you are done with the first two.

💎 Financial freedom is a state of your financial affairs that brings you peace of mind over the most common problems that come in our way. Be it doing what you love, employment, taking risks, old age, retirement, illness, children's education, supporting your loved ones or any other matter.

💎 It's not that problems will go-away because you are financially free, it's that you have solutions to those problems at your disposal compared to people who are financially dependent and insecure. This is why financial freedom is a state that you should target!

🥏 This is a tricky one in investing...

📊 Past returns are not a definite predictor of future returns. But that's a valid data point that you can depend on along with the current strategy and the forecasts. You need to keep an eye on where the returns will be, based on its current trajectory and what's coming in the future.

🏒 I would take this quote with a pinch of salt - you have to know where the puck was and where it is now in order to skate to where the puck is going to be!

💡 Its not the bad quarters and bad years that we should really be worried about! As long-term investors, you should be worried about bad decades and going bad forever in the worst case for some of your risky investments in this rapidly changing world.

💡 This is why a well-balanced diversified portfolio based on your risk appetite is the key. Its also important to periodically review and adjusting it is important.

Let's try to be 1% better than our yesterday's self today!