Boring’s Better Than Flash In The Pan

The right investing habits are not about being miserly; it’s about creating funds for the things you enjoy such as travel, sports, etc. 1) Invest Before You Spend: Start with automating your investment allocation before you spend. Being able to save at least 15-30 per cent of post-tax income is ideal but you can also start with as low as Rs 1,000 per month. Stay clear of the aggressive marketing and temptations that come from credit card and buy now pay later (BNPL) schemes. 2) Protect Before You Invest: High-cost insurance plans hard sold as investments with long-term lock-ins are best avoided as you get started. A medical insurance plan for yourself and your parents if they are dependant on you is good to have. 3) Set The Right Goals: Your first milestones could be around building an emergency kitty covering six to nine months of expenses and also saving and building your first...