Everyone wants to save more and be financially independent
but hardest thing about saving more money is getting started.
People wants to get rich very quick, but they start to
invest only at the later end of the life. There expected corpus will not be
made because of less compounding effect. Simple Concept, If you want to be
rich, Make your money to compound, Invest as early as possible.
Every Individual as their own kind of investment, Few People
invest in Mutual Funds, Few People take risk and invest directly in shares, Few
People in Gold, Land, Small savings schemes in post office. Its up to the risk
appetite of the individuals. Cutting your routine expenses and investing that
will help you in balancing your finances.
Example sacrificing a movie per month:
If we think about weekend, First thing that comes to our mind
is movies, if we try to skip one movie over the weekend and save Rs 1000/Per
month and invest the same in mutual fund that fetch you 8% return on average, In
a year you could save 12960/- This amount can look smaller now if the same is
invested for 25 Years, Your Corpus can grow up to Rs 9,47,452/- . If it is
invested for 30 Years your investment will grow up to Rs 14,68,150/-
Sacrificing a movie can fetch you over Rs 15,00,000/- to
balance your finances. Start cultivating Investment habits in you to financially
independent. This kind of savings will help you to maintain discipline in spending,
Savings and Investing from young age.
Mentotax guides you in planning your monthly budget to
financial goals!!
For More Clarifications:
Mail: Mentotax@gmail.com
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