1. Writing down daily expenses: This is a way to categorize the Heads under which you outspend & hence budget accordingly. It could also make you aware of your spending habits & induce Discipline if you do it correctly & religiously.
2. Saving for child's higher education: No one would argue that a person gets habituated to saving at least for his/her child if not for themselves or their own future. This is just a means to force one to start saving. Period.
3. Diversification: Grow up pal! Not every person would have the Luxury to invest 5/6 hours daily of their time to track down the movements of market or the requisite knowledge or data to separate bread from butter. It's always Prudent to hire the Professional to do the task which we don't know. By the way, do you do Plumbing for your own House?
4. Investments in government-sponsored schemes: Since I was a child, I've seen my parents invest in the Government Schemes. Except for the Return in Recent years, there's absolutely no Grouse. And mate, if Government could shove shoulders, OTHERS could do worse.
5. Investments in Gold: This is just a Hedge Tool.
A very very good article. Few people can advise against saving for your child's education. Gold is just dated. And that diversifying one was mind blowing. Absolutely, if you are sure of your research, why shouldn't you put all your eggs into one basket. One word from my side too, since this was a bold article... Pound wise, penny foolish. Go big time... don't cut dinner off your table.
Keep it going Sriram.I for one am going to follow your resolutions.You make sense. I think a lot of us need to accept that contra opinions are not necessary a madcaps opinions but are creative opinions.If it makes sense just do it.