Personal Finance
6. Try to purchase car in cash. This cash must be saved by putting some amount monthly. Go for second hand car.
7. Follow 50, 30, 20 rule. 50% of salary should be spent on needs. 30% on wants and 20% strictly go to savings.
8. Purchase 1 index fund, 1 large+ midcap fund and 1 flexi cap fund for optimum growth.
9. Purchase SGB gold bonds. It would balance your portfolio.
10. Upscale in order to increase your active income.
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Top 10 money habits everyone should inculcate in order to develop financial discipline.
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Personal Finance: Wealth Creation
Savings = Income - Expenditure, i.e. increase your income & decrease your expenditure to increase savings.
Follow budgeting principle:
- Needs: 50% of Total Income,
- Wants: 30% of Total Income,
- Savings: 20% of Total Income.
Smart ways to save more:
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