In today's era of "quick" money, it is important for young people not to lose sight of some basic concepts in the management of their money. Presented under five mantras will have to follow. Take a pressure to write, not even, but do not forget.
1. Define your financial goals: Whether planning future studies, to buy a car or a laptop or a pool table - identify and put to a monetary value. You can achieve your goals if you save systematically.
2. Buy an insurance policy for young people who have relatives, is the insurance is a must. However, we generally undermine the importance because we are young. The sooner you are insured, the better. He will also be cheaper because of the time factor.
3. They spend less on credit cards: The plastic money is very comfortable and true to most of us prefer money. And as is appropriate, we tend to spend more money. Have you read the fine print before your card so you will not be unpleasantly surprised to receive bills. Remember the basic rule: "Do not do what you do not."
4. Think 'Future': It's never too early to start your planning with the future of your retirement planning now, the sooner you start, the better it is for you. You can see the power of compounding, if you are investing small sums of money to start, but they look to grow and the amount you set as a goal.
5. Invest regularly: There are several options for your money to invest. One of the most popular and rewarding options is to invest in mutual funds. There are a variety of options, the net of (, choose a balanced, debt) and also hosts a variety of means. In addition, most fund houses have fairly simple procedure for the systematic investment plans (SIP). Systematic Investment Plan is a simple process to invest the same amount of money each month over a period of time, regardless of whether the market moves up or down.
Money Matters Mantras:
Set your goals
Do not waste what you do not
Start saving your goals small but systematic
Report your cost, not your investments
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