Investment Tips: If you also want all your dreams to be fulfilled with a fixed salary, then only savings will not do anything. You also need to understand the magic of investment and compounding. Often people ignore certain things at the beginning of their career, due to which they have to bear the loss later.

If you do not have the habit of investing from the beginning of your career, then you can also suffer huge losses. You get the benefit of compounding in saving instruments like SIP or PPF. In such a situation, an investment of Rs 500 can also give you a profit of lakhs over time.

If you are also happy just by saving your monthly salary in the bank account, then this is the biggest mistake. You are not going to get the full benefit of saving without compounding. To deal with inflation over time, you should not only save but also take advantage of compounding.

Even if you have a good salary and a stable life, you should create an emergency fund for at least 3-6 months. It helps you in case of job loss or any medical condition.

A medical emergency can destroy your financial goals. Hospital expenses worth lakhs can cost you a lot. Therefore, it is very important to take the right insurance according to your age and need.

It is not necessary that you should have an understanding of finance only if you are associated with the finance sector. From credit card expenses to which insurance policy is right, it is very important to have a basic understanding of finance in all these.

After retirement, the fixed salary that you get every month stops. In such a situation, if you have not done a strong retirement planning, then you should start it from now.

Often people take loans without thinking for things like holidays, gadgets and marriage. A wrong decision can trap you in a debt trap for the rest of your life.

Be it an expensive phone or latest trend clothes. Impulsive shopping often ruins your budget. Make a fixed monthly budget and stick to it with full discipline.

Saving tax is a good thing, but investing with only this in mind sometimes limits the benefits of compounding. First set your goal, then start your savings journey.

People often make the biggest mistake of not talking about money. By doing this you miss many golden opportunities. Talk about finances and set your goals in advance.