Mad About MoneyThe company
Mad About Money has kicked off with a digital monthly magazine of the same name. The concept is totally new in India and itâ€™s first issue has been published on Readwhere, Magzter and some other digital newsstands. The company will come out with the print edition soon.
Purple Feather E-solutions Private Limited is the company which published the magazine.
Mad About Money is financial education with a difference. It aims to make financial freedom a reality through interactive media and personal and group connect. It is about developing a mindset apart from the general mindset â€“ A mindset which has made the rich rich and left the poor to remain poor.
For generations children are groomed to study hard so that they can grow to become “Engineers, doctors” or take up steady, secure jobs. As a result we all grow up to work harder and harder till we drop dead and in the process accumulate huge debts.
The aim of Mad About Money is to make people aware of this realityâ€¦Communicate with them what they should / should not do with relation to money, working and earning. To change their mindset about working and earning, for complete financial freedom.
The Traditional Way to Make Moneyâ€¦
The traditional way of making money is to slog at a job and take home a compensation package at the end of the month, if you are a salaried employee, and at the end of your assignment, if you are a freelancer or contractual worker.
So basically what you are doing is earning money against the time you put into your work. If you cannot devote time to the job, you do not get paid, you do not earn money.
This way of earning money is instilled in us from childhood and we are used to working till itâ€™s time to retire with a little nest egg which may enable us to live a decent, want-free life or it may not if we have not saved sufficiently for old age.
To make financial freedom a reality
Break the myths regarding becoming rich
The aim of Mad About Money is to break the myths regarding becoming rich.
The myths are:
MYTH 1: Save More to Become Rich
From whichever financial background we may come from, our age old thinking has always been that saving money consistently for a long time can make you rich. Despite saving money in the bank you prefer, you have to pay the taxes. But when you take a credit or take loans for building a house or asset or for any other investment, you donâ€™t have to pay taxes for that. It is due to this reason that financial advisers across the world insist on making investments in stocks and mutual bonds you may end up gaining more money and the tax rates would also be lower.
MYTH 2: You Need Good Luck to Be Rich
This is one of the most popular myths related to rich people. The richest people are categorized on this perspective that it is their luck that made their journey to the top the most comfortable. But when you look closely at the stories of most of the rich men it will be surprising to find that luck has fewer roles to play in it.
MYTH 3: You Need More Money to Be Rich
Well, itâ€™s not more money that makes you rich but it is the worth of your possessions that makes you rich. The richest people in the world do not consider money as a possession they consider it as an idea.
The company will continue its efforts to educate people about the Tips & Tricks towards complete Financial Freedom!
Avenues through which it plans to do it are :
Books for schools/colleges