IF you are young, full of energy and planning to save your money right after you get your monthly salary, then welcome to the ‘Saving Club’. But saving the finances is a big task. Starting to think of planning your finances is half the battle won (we think like that), then congratulation and welcome to the journey. Given your age, just keep simple principals in mind and invest your money.
Welcome to the world of investing. If ‘Work hard and party harder!’ is your slogan then abide by these rules and you’re good to go.
Fret not, we are here to help you. Read along and plan your finance.
- Learn how to save. Though it is pretty much early the habits you form in the early years will remain with you for the rest of your life. Start saving 30% of your post-tax salary.
- Make sure you separate bank account for expenses and salary. You need to learn to live within your means and just be smart about savings.
- Understand and educate yourself to invest in mutual funds.
- Make a chart for investing avenues and try to beat inflation over the years.
