Some Ways to Improve the Economy of Pakistan

 

How to become Rich?

Everyone trying to find out the ways of making money, there are some simple ways by which we can save money. First, we must understand that we should not overspend, our spending should be less than our income. We must save some amount every month even single penny matters.  Open a savings account and keep savings of each month in that account, there is no shortcut to being rich. We must go slowly.

Define APR?

The APR is the short form of the Annual Percentage Rate. This term refers to a loan, the loan payer charges the loan in two ways one they charge interest, and the other is charges, usually, we ignore the charges, and we focus only on the interest rate. The APR is consisting of Charges and Interest, which gives a clearer picture that how much we must pay. So, we should ask for APR not the interest rate banks charges, some banks usually charge low interest, and their charges are more.

How to get Hight return on the Investment?

This most difficult decision that where to invest, there are so many ways to invest even if the amount is exceptionally low that can also be invested. The people who become rich also started from the small investments. The consistency matters if we keep saving small amounts regularly that can make us rich.  We can start from a money Jar and deposit every month in the bank (Saving Account). A day will come when you realize that now you have enough to invest in real estate than to buy a plot, house, or flat. Still do not quit your saving habit keep it up. If you have sufficient funds and you are confused about where to invest then please comment below your estimated amount and location, we will give the best tip according to your location and amount.

How much percent of assets should I Mortgage?

What size mortgage can I afford? This is the overly complicated question the persons whose education of finance does not have cannot decide correctly. Most commonly the middle-class people dream about their own house, which is not easy. So, they prefer to go for a bank loan, and they mortgage their house. The question how much percent of the loan and our savings comprised through which we can buy a house. This depends on your monthly savings, do not think about the total loan see how much you must pay monthly if can pay it then go ahead. This is the most simple answer to your question do not go for further complications. One thing we should keep in mind that we should approach different banks and try to find out the bank which charges the lowest APR.

Should I pay the loan or go for Investment?

Should I pay off my credit card or save? It depends on how much return from the investment you will get? and how much percent loan you must pay? You must make a comparison of both questions then see how much margin you will earn from that decision. This analysis will make your question easier and simple.  If the investment is giving you the low return as compared to the interest you are paying then pay interest immediately and if the investment is giving more return as compared to interest payment then go for investment and pay off the loan in installments.

Can We Earn from YouTube?

Before answering this question another question arises, how much do YouTubers make? In past years it was easier to earn from YouTube. Now there is high competition, YouTube earning becomes a full-time job.  If you want to earn from a YouTube channel then you must have quality videos at least 1,000 views per day. If you think you have good communication skills then you can create your YouTube channel free of cost and updating the video on it. For monetizing your channel your channel should have 1,000 subscribers and 4,000-hour views of your videos within a year with your own and unique content you cannot copy.

How much should I spend on an engagement ring?

This is also a most seared question on google. Usually, the engagement ring should not be above the cost of your three months income (Salary or profit from your business). Stick on this rule because you love her you to keep sufficient savings for spending a happy life, it would not be a wise decision to invest much more in an engagement ring.