Dream Big, Start Small, Stay Focused and Keep Going Forward
Ever thought of saving from your salary? Ever managed to do it? If not, here is a plan for you to develop the habit of saving and investment – SAVE INSURE INVEST !!
Let’s start small – Rs.500
It is an amount you can save easily and get started with investing. Rs.500 is the minimum amount to start an SIP(systematic investment plan).
Start investing in an SIP with a debt mutual fund as it let’s you withdraw the amount at a day’s notice and also provides better returns if the money is left dol in your savings account.
Stay invested regularly
Set a fixed date for an SIP every month so that you don’t end up spending money. Keep the process on for about 6 months to 1 year and later start analyzing on how much is left in your bank account after the SIP and other expenses every month.
If you manage to save Rs.500 more every month then it is time to increase your monthly SIP too.
Reach a stage where you can save upto Rs.2000 monthly so that you upgrade to equity mutual funds.
Later you shall split your investments between debt funds and equity mutual funds wherein, the amount in debt funds will be your emergency funds & the amount in your equity funds will be for your long term needs. If you invest in equity from the start you would not be benefited from the power of compounding.
To conclude: It is always better to Start Small and Grow Big- SAVE.INSURE.INVEST. Worry less and have a secured future ahead.
Start today. Wondering how?
We are here to help you.
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Written By – “Jinal Solanki”