If consumer education in finance is one side of the coin, financial discipline is the other. Focusing on financial decision that one must make over the life time, five subject are identified. These are: 1.Borrowing; 2. Saving; 3. Investing; 4. Insuring/Protecting; and 5.Spending. Challenge is to establish a balance with the purpose of transformation of these subject lines to 1. Matured Borrowings; 2. Smart Savings; 3. Intelligent Investments; 4. Adequate Protection; 5. Wise Spending. Five home truth; 1. Borrowing, serving debt & derisking go hand in hand; 2. Prioritizing & channeling capital in the right places & in a disciplined manner is the key; 3. Short term borrowing for long term use is a commercial folly & financial suicide; 4. Employ professionals and not percentage collectors to spearhead selling whose training goes beyond transacting a deal; 5. Customer care, follow up service, quality & delivery are sine quo non of accountability & financial discipline Posted by Young Indians Center for Financial Education
Posted on: Thu, 10 Jul 2014 04:18:06 +0000
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