In many households, it is generally seen that the important financial decisions are taken by the man of the house. It was considered to be their domain with the assumption that they understood the money matters better and hence were in a position to take the best decision.
Understanding and mastering the essential skill of expense management is key to achieving greater financial stability and personal growth. So, how can you navigate the exciting journey of expense management?
Financial Planning is a systematic way to create a roadmap of your personal finance in such a manner
that you are able to take care of your future goals, protection needs and other aspects of personal
“Equity is the best form of investment”, “This is the start of the biggest market rally yet”, “The Sensex will cross 50,000 by the year end”.
“The markets have heated up and may see a major correction”; “The PE of the market is very high. Brace yourself for a fall”
One of the simplest yet most effective ways of ensuring that you have enough money to take care of your critical goals is to start early and stay invested for the long term. The combined effect of these three factors is truly magical, but it is more to do with pure mathematics than any sort of magic.
I know life has just started and you need to enjoy it, but it wouldn’t harm you to set aside a small sum of money regularly to fund your future goals. If you delay saving for your goals, the amount you need to save later on would only increase with each passing year.