Management consultant, educator and author Peter Drucker famously said: "If you can't measure it, you can't improve it." This idea resonates strongly in finance and investments. With the rise of digital payments and investment platforms, making and spending money is easier than ever. However, this convenience brings challenges, especially the risk of overspending because digital transactions can feel detached from physical money, often leading to impulsive purchases.
This extends to investments as well. Quick-access platforms allow us to invest in stocks, cryptocurrencies, and even high-risk asset classes with just a few taps. However, the speed of digital investing can lead to unthoughtful decisions.
This brings us to a key principle of financial management: The importance of regularly monitoring and tracking investments and spending, and adjusting our finances to our long-term plans.
Benefits of a single investment platform: A disciplined investment approach can be highly rewarding, especially when managed through a single, consolidated platform that allows you to view all your investments and spending in one place, making it easier to stay on top of your financial health.
This story is from the December 19, 2024 edition of Mint Kolkata.
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This story is from the December 19, 2024 edition of Mint Kolkata.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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