If you understand these 5 mantras in the matter of money, then even a small salary will fill your bank account…GenZ should take note.
Many times in life, people are not able to save money even after earning a good amount, while some people fill their bank account even with a small salary. This difference is due to financial planning. Some decisions in the matter of money can make a big change in your luck. Here know such 5 mantras that GenZ should especially understand so that there is no tension about money in life.
Many people have the habit of squandering whatever they earn. But Chanakya Niti also says that money is man's biggest friend because, in times of trouble, it stays with him as a true companion. Therefore, every person must develop the habit of saving.
Whatever you earn, can be increased only through investment. In today's time, there are many such plans, which can also convert your investment into capital. The financial rule says that every person should invest at least 20 percent of his income in any case. If you also invest 20 percent of your income every month, then you can become a millionaire in the coming time.
People look for better jobs for better salaries. But it is also not good to change jobs frequently. This can spoil your profile. While changing jobs, you should consider things like job location, profile, tax impact, facilities, and flexibility, only after this you should take any decision.
In today's time, there are facilities like credit cards. Youngsters use them without thinking and many times unnecessarily increase the load on themselves. Therefore, make a promise to yourself that you will use a credit card according to your situation. Apart from this, many types of loans are offered in banks nowadays. You will take any kind of loan only when it is very necessary. Apart from this, you will not borrow from anyone.
ITR filing is an important responsibility that every individual must fulfill within the stipulated time limit. You will have to pay a penalty for filing late. So make a resolution to file ITR on time.
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