Finance is an important aspect of living a full and comfortable life. This is why you need to make the right financial choices to live well. Here’s what not to do.
Fail to plan - and plan to fail. This is rule #1 of money matters! You need to understand your income and outflows, create a monthly budget and stick to it.
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This is a dangerous trap to fall into. You will soon be in a position where you have to take a loan to pay off your bills, ending up with more debt.
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This is your quick-access fund for emergencies. You must set aside money for this - or you may find yourself in a desperate position when something goes wrong.
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You may think you are healthy and fine - but as the pandemic has shown, medical emergencies can happen to anyone. Invest in a good policy to avoid sky-high hospital bills.
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Investing is for everyone, at any stage of their life/career, and the sooner you start, the better. Investing makes your money grow so you can achieve your material & financial goals.
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If you are wary of the stock market, opt for mutual funds. Money is collected from a group of investors and managed by a fund manager who does thorough research so you get good returns.
There are thousands of mutual funds to choose from, based on your budget and financial goals. And you can start with as little as Rs. 1000 each month.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.