Small step to get financial independence at an early age?
1. Make a habit of saving
2. Do not purchase anything in debt(borrow money)
3. Make your emergency fund
4. Buy health insurance and a term plan
5. Make your goal according to your future Plan.
6. Plan for Tax
7. Invest in different asset
8. Keep reviewing your investment
9. Keep learning about financial investment
10. Always open to new learning and then earning.
Hello dear reader I assure you if you follow These steps you never struggling with financial things.
MAKE A HABIT OF SAVING
when you read this it means you are already set in mind for a financially independent
So the first and very easy step for you to start saving money with a very little amount means just saving RS 30 PER DAY.
I think it is quite easy for you to save Rs 30 a day. which shows a very small amount but together in 30 days it is Rs 900.
Now stop reading and start thinking about Just calculating your saving per day as you can save a day how you could save in a year and in 5 years and then just comments in the comment box only then you read next.
If you found you could save
10-15% of your monthly income then you are a GOOD SAVER.
15-25% of your monthly income then you are a VERY GOOD SAVER.
30-45% of your monthly income than you are a UNIQUE SAVER.
If you found one of these categories then CONGRATULATIONS.
You have joined the first steps of FINANCIAL freedom and you ripe a money plant seed in the soil.
If you are below the category then don't worry now you save what you think for then gradually come to the category according to your wish. but try to get any category within the next 3 -6 months.😊
Do not buy anything in debt(borrow money).
Many obstacles will arise during the process of FINANCIAL freedom, and this is the most dangerous huddle that could rob you of your financial freedom.
So don't take any debt to fulfill your dream product.
If you want that product, you must first plan for it and then obtain it.
Create an Emergency Fund
This stands for any emergency means:
* Medical concern
Job loss
* Problem with an accident
* Unexpected large expense
It is one of your first steps toward financial freedom. It is like a wall to your financial wealth.
Because you should be prepared always to keep the emergency fund where you can easily withdraw from it at any time.
Make sure your emergency fund is at least six times your monthly income. Make sure it can be used in emergency times.
Slow and steady wins the race.
Buy Health Insurance And Term Plan
Buying insurance makes sure your health issues will be managed with the cover. Term plan to ensure your father and mother's financial security.When you are not there.
Set your goal according to your plan.
In this part, you are planning for your future.
Make your goal according to your needs and plan, then invest in the fund to get the goal amount.
Plan for TAX
This is a very important thing when planning your goal.
Your goal is to know which plan could give you tax benefits and get the best-Benefited plan for yourself.
Invest In Different Assets
Here, different assets mean different segments like the equity market, mutual fund and real estate, land, Cryptocurrency, bond, lending money, and investment in different businesses. These are the things which be your asset that put money in your pocket.
Keep Review Your Investment
In the time interval, you must have to check your investment. As I suggest, you must check your investment every 7 days or 30 days, or 90 days. if you are super busy then you can review it every quarter.
Keep learning about financial investment
If you really want to keep growing with your money, you have to also keep learning day-to-day, which leads you toward a new life of FINANCIAL freedom. so keep learning keep growing.
Always open to new learning and then earning
When you keep learning and then delete l from it you start earning that I standard for the learning in life.
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