What are /r/FIREIndia's favorite Products & Services?

From 3.5 billion Reddit comments

I personally use Money manager for tracking my expenses. They don't have capping on no. of "accounts" AFAIK (consider "account" as a broad category), so you can create accounts for each family member and track accordingly.

I have been using Monito for a few years, started when I was in college. Fairly simple and customisable. If you need a few more features you can consider Spendee

Hey! I have started reading your blog since about two months ago, and since then it has been my go-to guide for all things mutual funds.

I just love how grounded and practical you are in your return expectations. And your mathematical derivations!

Anyway, I have two suggestions

• Sign up for Medium and Quora. Cross-post on those places as well, whenever you publish a new post on Freefincal. Honestly, more people should see your work.

• Having to download an Excel sheet thingy is too much for some of us. I don't use MS Office. I have no intention of ever using MS Office. Would you be ok with adding equivalent Google Sheet calculator formula / Python script that can be run in browser via REPL?

My question / request for you:

• You use a lot of data in various graphs, pie-charts etc. Could you share some pointers on how we can get official historical data, and how to make sense of it?

Keep up the great work Sir!

That is the topic of the book "The Millionaire Next Door"

https://www.amazon.in/dp/B07XB487HP/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

You cannot reduce your EMIs or rent or medical expenses. The only things you can reduce are your home expenses and entertainment expenses. Use an app like https://play.google.com/store/apps/details?id=com.expensemanager and enter your expenses every day. After 2-3 months you will get an idea of where the money is going and then you and your spouse together have to decide on which expenses you can cut back on and you can invest the money thus saved. Invest through an SIP at the start of every month, important that it must be at the start so you would not redirect the fund anywhere else.

Also chit funds give very poor returns, you can get much better returns in an RD. So stop the chit funds and move the 4K to an SIP

You can start with this book “Your Money or your life” by Vicki Robin. Pioneer of FIRE.

Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Fully Revised and Updated for 2018 https://www.amazon.in/dp/0143115766/ref=cm_sw_r_awdo_FHDS52SR4EMJ41GX0GGM

I use this one.

https://play.google.com/store/apps/details?id=com.realbyteapps.moneymanagerfree

There may be other ones which may be even better, but this one works very well for me and now I'm fully invested so it would be hard to switch.

your day is busy than mine. Since you are planning to eat healthy. I will suggest the How Not to Die book: https://www.amazon.in/How-Not-Die-Discover-Scientifically/dp/1250066115

The story itself comes from a great book by Legendary John Bogle - Enough, in fact, he opens the book with this story. It is a great FIRE book.

Our lives will be so much better if we can say we have enough.

General theme of the book is to call out the unnecessary complexities in the financial market and how investors are misled by middlemen who sell products they don't need, encouraging speculation rather than long term investment etc etc - you get the general theme. Indexing, always staying invested and ignoring all noise is the way to go.

There is a book which talks about the same concept. Die with Zero. https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358099765

I read the summary for free somewhere. But the concept is that you should enjoy your life when you are young and have health/time on your side. Life is a balancing act. Overdoing anything causes imbalances.

This app may help. This is a lifetime countdown app which shows you how many blocks of your life you have consumed and how many you have left (as per average life expectancy)

Just a reminder that time is not an infinite resource :)

https://play.google.com/store/apps/details?id=com.bladeworkshop.lifecountdown

Not about FIRE but Let's talk money is a good book about investments in India

Link: https://www.amazon.in/Lets-Talk-Money-Youve-Worked/dp/9352779398/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr=

Just use an expense tracking app to enter amounts as you spend them. Export to Excel at the end of the month. Automation by reading SMSes is a terrible hit and miss affair. You will spend more time manually fixing things than actually using the solution. Might as well go fully manual.

I am using this app for 7y+ now. Working great: https://play.google.com/store/apps/details?id=com.helloexpense&hl=en_IN