What Not To Do With Your Money
Money is important - but it’s also important to manage it well so you don’t run into problems later. Here are 5 things you should not do with your money.
Not Budgeting Or Accounting For It
You know how much is coming in - but do you know how much is going out each month, and what you’re left with? Set a budget and stick to it.
Not Setting Financial Goals
You need to set some goals to buy what you need and make your money grow. Whether it’s a home or a holiday, set a goal so you can work towards it.
There’s a lot of pressure to live for the moment and a culture of instant gratification - but not saving will set you up for failure and an uncomfortable retirement later in life.
Not Maintaining An Emergency Fund
Disaster can strike any time - so you need to have some money set aside for emergencies which can be easily accessed.
Not Investing it
Not investing your money is criminal - why let it idle away in your bank account when you could earn better growth by investing it? Investing is the best way to make your money grow.
Try Mutual Funds
Mutual funds gather money from a group of investors, which is then pooled into a fund and managed by a fund manager who does research to ensure the best returns for investors.
Start Small And Grow
Putting your money into a mutual fund is always a good idea, even if it’s as low as Rs. 1000 a month - even a small amount invested now, can grow into a handsome sum in 5-7 years.
Invest With Scripbox
At Scripbox, we have a range of short, medium and long-term mutual fund investment offerings to suit every budget and investment goal.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.