No matter how much you earn, if you do not pay attention to savings and investment, you can find yourself in trouble at any time. Especially there is no confidence in private jobs, in such a situation it is important to pay proper attention to it in time, only then you can move forward in the direction of ensuring a better future.
While today’s youth are getting yet another huge package, they do not even think twice before spending the money. There is no restriction on expenses to maintain his lifestyle. But, remember that this habit of yours is not at all right. No matter how much you earn, if you do not pay attention to savings and investment, you can find yourself in trouble at any time. Especially there is no confidence in private jobs, in such a situation it is important to pay proper attention to it in time, only then you can move forward in the direction of ensuring a better future. If you too did not pay attention to this till now, then become alert now. Let us tell you the methods of saving and investing-
Make your budget according to your monthly income and keep in mind that all the expenses should be spent within this budget. Make a habit of maintaining daily accounts. Use diary or mobile app for this.
For most of the youth nowadays, shopping has become a time pass and stress buster, hence they keep buying some things even though in reality they do not need them. If you also have this habit then try to control it.
Decide your savings and then investment budget according to your salary. Generally, try to save 25 percent of your income and invest it. If the money remains in the savings account then you do not get any benefit. Therefore, always keep in mind to invest the money in mutual funds, FD, SIP or Public Provident Fund.
Instead of investing all the money in one place, invest a little money in different places, which will give you more profit and you can also withdraw the money whenever you want as per your need. If you want to invest less then you can start with a small SIP of Rs 1000 or Rs 2000. Invest the excess amount in mutual funds.
Always keep money in two accounts. Keep money in one account for day-to-day expenses and create another account for savings and investments. Keep a fixed part of your salary in this account from which you can invest the money in different places. Keep some money aside for emergencies also.
If you want to invest in risky funds, you can first meet an investment advisor for that. Investing in shares without knowledge often leads to losses. Therefore, invest only after knowing thoroughly. You can also get information from the internet yourself.
So, you must also keep these things in mind for saving and investing.
