Dussehra 2025: These 10 financial mistakes can cost you your money! Say goodbye to them forever this Dussehra..

Today is Dussehra. The festival of the victory of good over evil. This day reminds us that it is important to leave evil behind and adopt the right path. Just as Lord Rama vanquished Ravana on this day, we too must defeat all the "Ravanas" in our lives that cause us so many problems. On this occasion, we will tell you about 10 financial mistakes that people often ignore, thinking they are trivial, but they eat away at our earnings and make our future insecure. Today, on the occasion of Dussehra, say goodbye to them forever!

1. Not Saving – The Biggest Mistake

Many people earn lakhs but find their pockets empty at the end of the month. The reason: not having the habit of saving.

Simple formula: Follow the 50:30:20 rule – 50% for essential expenses, 30% for lifestyle expenses, and at least 20% for savings.

2. Staying Away from Investments
Simply saving money isn't enough. If you don't invest your savings in the right place, inflation will eat away at your savings. To avoid this, research mutual funds, SIPs, fixed deposits, or the stock market and start investing.

3. Spending Without a Budget
The word "budget" may sound boring, but it's the key to achieving your financial goals. Create a budget at the beginning of the month and decide how much you'll spend on groceries, bills, entertainment, and savings.

4. Spending Beyond Your Income
Many people spend more than they earn out of sheer force or habit. This is the biggest financial trap. Spend according to your income. Overspending will ruin your financial health.

5. Investing Blindly
Investing is a good thing, but taking the advice of a friend or relative without doing research is very risky. Therefore, get complete information about the investment you're considering. Before making any investment, be sure to understand its returns, risks, and lock-in period.

6. Not Taking Life Insurance
Insurance isn't just a piece of paper; it's about protecting your family. It's important to have a term insurance policy to prevent your family from facing financial hardship if something happens to you.

7. Taking Retirement Forgively
In youth, retirement may seem far away, but in reality, the sooner you start preparing, the more comfortable you'll be. Start contributing to a pension, NPS, or retirement fund from a young age so you don't have to depend on anyone financially in your old age.

8. Borrowing Habits
Limit your expenses, but don't develop the habit of borrowing money from anyone. Borrowing can become a major problem. Such a person never thrives financially. If you want to borrow money to purchase land or a house, you can avail of a home loan from a bank. But only borrow as much as you can comfortably repay.

9. The lure of quick money – gambling and speculation
The dream of making money through shortcuts can ruin you. Invest hard and wisely, only then will you build wealth.

10. Not having health insurance
Illness or accidents never come with a warning. Without a health policy, you may have to bear the cost of treatment from your savings. Good health insurance can save your family from serious trouble.

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