How to Save Money in India
How to Save Money From Salary if it did great to
receive this message, your salary, your credibility,
your bank account. And it’s got most of us don’t have an income
problem. We have a spending problem, which is why even after
winning a lottery, most people still end up being poor. If you
don’t want to be like them, then by the end of this post,
you will know exactly what not to do, because in today’s post,
we’re going to see 9 money mistakes that we must avoid at all costs.
And toward the end, I’ll give you a bonus tip for that
pandemic or not, you still keep making money.
But before that, if you like our work, make sure
you hit that big fat like that. How to Save Money in India
How to Save Money in India – Mistake number 9
Having debt, that is when you spend money that belongs
to someone else as a lawyer, you don’t give them back
their money, the more interest you have to pay them silly.
Right? Then why borrow money? Some people do it
because they have genuine financial needs, but
some do it because they want to imitate the rich
friend fluid and fluid.
So I just need to swipe the credit card to get that high.
Hey, credit cards are not the bad guy here. Using them
give you reward points, allowed access, but most
importantly, the bill, your credit score can lead
to help you buy a house, but if not, use carefully
credit card debt can put you in a lot of trouble.
If you want me to make a separate post about
how to use credit cards wisely, then Korbin below
and let me know.
Meanwhile, here, the two-state solution to be debt-free.
Step Number 1
plan to pay off any existing debt. Make a list. Who
all do you have to pay and how much? They’re the
50 to 80 20 rule about money, 50 percent of your
income for your necessities, 30 percent for Lizzio,
and 20 percent for savings. But if you have any debt,
I would suggest use your leisure and your savings
money to first clear them off.
But do you always have to invest first? I do. But if your credit card interest rate is 24 percent and your investment return is eight percent, then what is the point of investing because you’re still losing money?
Step number 2
create a monthly budget, make the list and write down how much you want next to it. Write down your monthly expenses. If your expenses exceed your earnings, then see where you can cut it down. Please do not plan that guohua trip on your friend’s money because you should never, ever spend money that you don’t have. But wait, I want to go to war. I want more money.
I’ll tell you how you can earn more money when we discussed this before. But for now, get rid of all of your debt. Game of Thrones made eight seasons about how ridiculous.
But when all it comes, it never leaves and nobody makes a TV series about it. The point is, when you get old, there is no undo button that you can press, no dagger that you can plunder the Taj like audio of dark and make it all go away.
And if you think you could cut your retirement fund and could, what I mean is it’s exhausting to be an adult. And if it’s wrong to expect that our kids will support us financially, but most of us didn’t even responsibly vote for a party that can provide employment to the next generation.
How to save money in India as a student
So start saving for your retirement right now after you take out your necessities, move 50 percent of whatever is left of your retirement savings tied to the power of compounding the earlier in life. You start doing this the more you will have when you retire. And it doesn’t matter if Apple releases a new iPhone.
Do not touch your retirement for
Mistake number 7,
investing in real estate.
Hey, I, I’m all about up.
And but if you’re not staying at that house, real estate as an investment can be a headache because it is harder to maintain, especially if you’ve bought the land in some other state. You can’t get your money back easily because it takes a year or more to send it. You can have Lauderdale issues and that is assuming that you will get parents who will pay their rent or you have to pay for property tax repairs and bear the cost of depreciation as well.
In this post title, How I Bought a House Before three twenty-five, I talk about the various investment options that are out there. This could help you decide where all you can put your money and how much it does to get from each of them.
You’re free to take your own financial decisions, but except you are a to be real estate is a liability, no
Mistake. Number 6,
Not learning about the stock market. The good news is, as it is, of waking up to the possibility of making money in the stock market.
The problem is we are not doing it right. Why? Because we keep asking our friends about it, which finally put the button stock they’ve given all these days. It’s so easy to click a button and buy company stock. And so we do it without even understanding the difference between large cap, mid-cap ETF and index funds. Don’t get me wrong, stock market is a great place to generate long term wealth. But before you click that buy button, please learn the basics of the stock market.
And how does it make money? What is the difference between trading and investment? How to do a fundamental analysis of companies? Unless you do develop to identify companies yourself, the stalls you buy might be great for your friends, but not be best for you if you’re a beginner. A good place to start learning all of these things are the stock market videos on our chat that cover the basics. Good luck.
Mistake number 5,
Not having an emergency fund.
So you make your monthly budget and stick to it. Good. But covid-19 has taught us that anybody can lose their job at any time, no matter how many years they were working in a company for. And that is where your emergency fund comes to you.
I would do it if I did nothing but four to six months of your living expenses, which include your rent, food, medicine, Wi-Fi expenses saved in case of an emergency so that tomorrow if your job goes at, your dreams are going to bite.
You have something to hold on. So we have discussed five of the stakes so far. Now you can tell me which of these financial mistakes you have made so that we can make videos and discuss that mistake in detail in our future videos.
Mistake number 4
Not having a side hustle. Most of us don’t like our jobs or don’t like the money we are making. The question is, what are we doing about it?
All of us need more money and the only way to get bored is to work more. So get online and find out how you could offer a service to the graphic designer, video editor, dead writer, logo designer, website developer, teacher, or whatever you like doing that can generate you some site income. To give you an example, I was offered a robotic system architect by profession at this. Making YouTube videos was my side hustle. I worked on it after office hours on weekends, even left my job and I had the confidence and after three years, it makes more money than my made profession.
It was not easy but possible.
And if you want a detailed video about how you can do it and make money online, then make sure you subscribe to our channel, the open site and the like, because we make career finance and communication videos regularly.
Mistake Number 3
leading on phablet. If you still depend on your parents or your spouse to take care of health budgets or to lend you money to get you out of debt or even buy coverage of the stock market, then chances are you will never learn how to take care of your body.
And if you don’t know how to take care of your money, you’ll always be considered a dependent. The good news is the more financial opinions that exist on a family dining table, the better financial decisions you will make together. So if you want to maintain a healthy relationship with your family first, start building a healthy relationship with money.
How to Save Money in India – Mistake number 2
Not securing your loved ones. Future people in their 20s, 30s or 40s think that they don’t need insurance plan. But if covid-19 has taught us one thing, it’s that life is unpredictable and to be prepared for life. There are two kinds of insurances that you can get. No. One, health insurance that’ll handle your medical emergencies. And number two, life insurance so that your loved ones are taken care of after you, especially if you’re the sole breadwinner of the family.
And one of the top that you can check out is ICICI Prudential, I predict. This video is in association with ICICI Prudential Life. Before I give you the number one money mistake. Let me quickly tell you about the key features of this plan. With the doubler like this, you can avail a large cover at an affordable premium.
This plan covers 34 critical illnesses through its options. Critical Illness Rider, which provides additional protection with the Daubert. An increase in premium of the base to plan the accidental death rider provides additional financial protection in case of an unfortunate event caused you the accident. Therefore, payment options that one can choose from to receive the treatment they promised to settle life claims in one day. And this plan also covers covid-19 claims, which in times like these have become essential. And when one is looking to secure the financial future of the family, choosing a trustworthy brand like effective Prudential Life Insurance helps to invest your money.
Life insurance is a big decision, so go to the link in the description. Read all about Prudential, I predict might double-check out the reviews and only then make your decision.
Good luck. And finally, money.
How to Save Money in India – Mistake number 1
not investing in yourself.
The only way to make more money is to invest in no, not stocks yourself.
Do you Like ?