In my experience of 25 years in banking and insurance sectors, I have had the privilege to look closely at how people manage their money and understand the reasons behind their behaviour. The one basic truth about money that I have understood is this: keep money matters simple. Then, why do a large majority of people mess up their personal finances? What can we learn from them so we stay on the right track ourselves?
Let me tell you about some common mistakes that people make without realising. I met a company’s managing director in Gurgaon, aged 51 years. Let’s call him A. A is an extremely successful professional in his field and has risen to the top of his large multi-national company.
