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- If you need 20 lakhs at the age of 65,how much do you need
to save per month assuming 7% interest? -If you start at 20, its Rs.510 per
month -If you start at 40 though , its
Rs.2280 per month …So start investing early which is today.
- Spend less than you
earn…Approximately 40% of families live off 110% of their incomes…Count to 10 before you buy
- Invest Wisely…..Save at least 10% of your
Income
- Buying with cash, not credit, can help you cut back on spending.
People spend 12-18% more when using credit cards than when using cash… so simply pay with cash not plastic
- You need a safety net to
deal with an emergency. Ideally
you'd have enough to pay rent and bills for six months, but even a three month
cushion can be a big help
- Tracking your income and
expenses will help you understand where you can improve. Maybe you're spending too
much on going out to eat or could be saving just a little bit more each month.
Finding tools to help you track spending can be a great help in planning for a
strong financial future