Vijaya Dashami: This year Dussehra will be celebrated on Saturday, October 12. On this occasion, today we will tell you about those 10 financial mistakes, which people often do unknowingly and suffer the consequences in the future.

Vijaya Dashami 2024: The festival of Dussehra (Dussehra 2024) is celebrated on the Dashami date of Shukla Paksha of Ashwin month. This day is considered to be the festival of victory of good over evil. On this day, Shri Ram burnt Ravana. This day is called Dussehra due to the burning of the ten-headed Ravana. This festival of victory of good over evil gives the message to every person to remove all the evils within him. This year Dussehra will be celebrated on Saturday, October 12. On this occasion, today we will tell you about those 10 financial mistakes, which people often do unknowingly and have to bear the brunt of it in the future. This Dussehra, take a pledge to correct these 10 financial mistakes. If you do this, then in the future you will never have to worry about money.

1. Not saving money

Many people have a habit that no matter how much money they earn, they are not able to save money. But to secure their future, everyone must save from their earnings. One should get into the habit of this from their first earnings itself. The financial rule of 50:30:20 should be adopted for savings and everyone must save at least 20 percent. Today on Dussehra, say goodbye forever to the habit of not saving.

2. Not investing

Saving money is not enough. Acharya Chanakya has said that if the saved money is not invested, then that money gets destroyed with time. Money should be saved and invested. Only the invested money can grow rapidly and create a big wealth. If you earn a lot of money, but do not invest it, then this too can be problematic for you. Therefore, if you have not started investing till now, then resolve to start from today.

3. Not making a budget

Many people just spend money without thinking, do not make a budget for the month. But if you want to save money, then making a budget is very important. With this, you can control the reckless expenditure. You will know where and how much to spend.

4. Spending more than income

There is a saying that a person should stretch his legs only as much as his blanket allows. We all have heard these things, but do not understand their true meaning. If you cannot stop the habit of spending more than your income, then no one can save you from future crises. So improve this habit of yours today.

5. Investing without information

Investing is a good thing, but you can also suffer a big loss by investing money anywhere after listening to someone. So, wherever you are going to invest, get complete information about that place. Find out how and how much benefit you will get from the investment. Then invest the amount.

6. Not buying a life insurance policy

Life insurance is very important for everyone because no one knows when and with whom something untoward will happen in life. Therefore, not taking life insurance can put your family in trouble in the future. Take life insurance on time and secure your family.

7. Not planning for retirement

Old age comes to everyone one day or the other. Money is the most useful to you in old age. Therefore, if you have not planned your retirement yet, then start now so that you do not have to face a financial crisis after retirement.

8. Habit of taking a loan

Keep your expenses limited but do not make a habit of borrowing money from anyone. Borrowing can become a big problem for you. Such a person never prospers financially. If you want to borrow money to buy land or a house, then you can avail home loan facility from the bank. But take only as much loan as you can easily repay.

9. Gambling

The habit of gambling in the quest to earn money quickly can be fatal for you. Work hard to collect money, and invest it in the right places. If you do not know about investment, then take advice from a financial expert. But give up habits like gambling or betting immediately.

10. Not getting health insurance

After Covid, everyone has understood how important health insurance is to deal with any disease or accident. If you have not taken it till now, then you are making a big mistake. With the help of health policy, you can save the cost of hospital and treatment. This does not affect your savings in case of trouble.