Best financial planning | Tips here!!

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Deal Cadet
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  1. Avoid buying property on loans as it eats most of your earnings unless you have a clear plan for its repayment. It's important to monitor cash flow. Though, the house will be your asset, your liability will be much more.
  2. Start a SIP at a very young age. Try to save atleast 15–25 % of your earnings.
  3. Avoid buying a car unless you use it everyday.
  4. Do not let this sentence scare you. “Mutual fund investments are subject to market risks. Please read all schemes related documents carefully”. Most people avoid investing in mutual funds just because of this one warning. Yes, there is a market risk, but look at the history and growth of mutual funds.
  5. Try having a simple wedding.
  6. Atleast 20% of your wealth should be liquid so you can utilize it when necessary.
  7. Considering inflation, you are actually losing money if it is in savings bank account. Do not keep huge money in savings bank account.
  8. If you invest in stocks, pay due attention on the brokerage part.
  9. If you invest in stocks have a separate account for delivery investment and Intraday investment. It is easy to monitor this way and also makes tax calculation easy
  10. Do not sustain a belief that property and car make you rich. It's what you save and invest, that is significant.
  11. Never invest in insurance for returns. Insurance is not an investment option. It is a risk management tool.
  12. Your personal life and health is the most important investment. Remain healthy and live happily.

    source - quora 

  13. Are you following any above of them ?
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Deal Subedar Deal Subedar
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Invest in yourself:) is the only asset that can't be beaten by any market or anyone xD

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Deal Cadet Deal Cadet
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bhai copy pasta kar deya tunye 😂😂😂😂😂😂

Deal Cadet Deal Cadet
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source mentioned.
Helpful Helpful
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5 one is pure money 🗑 if one doesn't follow...

Finance Mentor Finance Mentor
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Points are good, but are these compiled/experienced by yourself? Financial Mahatma ban jaate agar hota to...

Deal Newbie Deal Newbie
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Adding my bit,

1. Use Credit cards wisely. Don't fall for debt traps.

2. Do your own research before investing. Do not fall for frivolous tips / advises on Telegram / other sources.

3. Avoid trading especially in Futures and Options unless you are able to devote sufficient time.

Finance Mentor Finance Mentor
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Better is just cnc trading, have patience or research and invest in MF...

Deal Subedar Deal Subedar
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Invest in yourself:) is the only asset that can't be beaten by any market or anyone xD

Finance Mentor Finance Mentor
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Then sell to a female trying to get comfort and all hell gets loose, right? There's no capital gain unless one sells, so those who don't commit to females they sell to the world at some time right?

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Deal Cadet Deal Cadet
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keep an emergency fund of 6 months expense in liquid form i.e. savings, fd etc.
Do not take personal/consumer loan(expensive phone, laptop,  ac /expensive tours etc) even with so called 0% EMI except for life threatening scenario. 

Financial discipline is an important thing even I sometimes buy expensive stuff thou I never use emi

Finance Mentor Finance Mentor
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Yes I have never availed loan or EMI, CC is a different thing, you can avoid interest wisely...

Generous Generous
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Forget all the points , live happily ... do what your heart wishes without hurting others . 

Finance Mentor Finance Mentor
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Too much ignorance and out of routine and ideals makes one lick dirt sometime in their life...

Helpful Helpful
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all above points i have observed/experienced in my life n m following them since 2020 after covid

Finance Mentor Finance Mentor
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And how are you now? Feel the lack of everything or something?

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