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Does your salary get spent as soon as it gets credited to your account? Just do these 2 things...then there will be no tension

If your salary also gets spent as soon as it gets credited to your account, then you should make a habit of doing just 2 things. Once you do this, you will learn to save money in any situation and will also secure your future.

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Many people complain that no matter how much money they earn, they do not have anything left. The reason for this is that either they are very spendthrift or the burden of responsibilities is so much that the salary gets spent in fulfilling those responsibilities. But whatever the situation, you must have the habit of saving. Otherwise, your and your family's future can be in danger. If your salary also gets spent as soon as it gets credited to your account, then you should make a habit of doing just 2 things. Once you do this, you will learn to save money in any situation and secure your future. After this, even if you spend your entire salary, you will not regret anything.

Adopt this method for savings.

Most people get their salary on the last day of the month or the first day of the month. As soon as we get our salary, we start meeting our essential expenses first. But now the first thing you have to do is to transfer 20% of your income to another bank account. If you set aside a part of your savings from your salary, then it will be your compulsion to meet the rest of your expenses from the remaining amount.

Understand with an example.

Suppose you get a salary of Rs 40,000, then 20% of Rs 40,000 is Rs 8,000. In such a situation, you have to invest Rs 8,000 as soon as you get your salary. Now you will have a question in your mind why only 20%? So let us tell you that the financial rule says that every person should invest 20% of his income. So whatever your salary is, you should invest 20% in any case. If you feel that the remaining money is less for you, then you should cut down on your unnecessary expenses but not compromise in terms of investment. You may face some problems in the beginning, but gradually it will become a part of your habit.

The second thing is investment.

The amount that you have transferred to another account as savings, invest that amount in the first week of the month itself. If you do not have another account, then invest that amount directly from the salary account in the first week itself. Choose the first week for investment because if you think that you will invest at the end of the month, then believe me, many times the expenses are so high that you are not able to save the amount worth investing. Therefore, invest the money in advance. After this, whatever salary is left in your account, you can spend it according to your wish and needs.

Where to invest?

Now the question arises where to invest? So in the case of investment, a saying fits, that is, all the eggs should not be kept in one basket. It means that you should not invest all the money in one place. Diversify your portfolio. Nowadays there are many schemes like RD, PPF, SIP mutual funds, in which you can invest a fixed amount every month and can add a big amount in the long run. If the amount of your 20 percent money is quite good, then you can divide it and invest in different schemes.

For example, if you are saving Rs 8,000 every month, then you can invest Rs 3,000 in SIP, invest Rs 3,000 in PPF for the long term, and start a short-term SIP of Rs 2,000 or run RD, etc. Apart from this, if you contribute to EPFO, then you can also increase your contribution to EPF through VPF. You also get a very good interest in EPF.

Control these expenses

If you are addicted to cigarettes, alcohol, etc., then try to quit it.
If you go out to eat twice a month, then go once.
Reduce the reckless use of credit cards.
If you spend money at parties with friends, then control this habit.
If you make unnecessary purchases because of offers, then control this habit.