Read this before investing through apps like PhonePe

Hello, friends these days I am seeing posts like Phonepe offering tax-saving funds and liquid funds. Phonepe is offering regular plans in tax saving plan, I myself have verified now, their liquid funds will mostly be regular funds too, though I could not see liquid fund option in my app.
Every mutual fund has a regular plan and a direct plan. AMC charges a percentage called expense ratio for maintaining and managing all the expenses. Regular plans have a higher expense ratio usually 1-2% than direct plans.
For example in the case of Aditya Birla Sun Life Tax Relief 96 fund, which is one of the funds offered by Phonepe under tax saving plans, the regular plan has an expense ratio of 1.97%, whereas the direct plan of the same fund has an expense ratio of 1.06%. This 1-2% can make a huge difference in the long run, because of the compounding effect.

Let us say for the last 3 years if you have done a monthly SIP of 10,000 in regular plan of Aditya Birla Sun Life Tax Relief 96 fund, it would have grown to 3.86 lakhs, whereas the direct plan of the same fund would have given you 3.92 lakhs.

If you can’t select your own funds, then you can rely on apps like Kuvera and Goalwise who offer fund recommendations for various goals like tax saving, emergency funds, long term plans like buying house and etc.. based on research and they even post their performance every year like this https://www.goalwise.com/blog/goalwise-performa...
My personal favorite is Goalwise, you can ping me for referral for both Kuvera and Goalwise. Paytm also offers direct plans but these sites got more features, some of them are paid on Kuvera, while Goalwise features are completely free.

If you want to learn how to manage personal finance freefincal is a wonderful website and there are many posts on how to balance equity debt ratio and all.