Jai Hind friends,
friends, today’s post is especially for my younger and older brothers, whose age is between 20 years to 30 years, friends, you must know that 20 years to 30 years The age between the years is a very special age, because between the age of 20 to 30, neither you are a child nor you are much older, at this age people are often married and some People have had children too and some people plan their children by getting married at this age and some people are just about to get married at this age, friends, this is the age in which you have to do this in front of your parents. You have to show that you have become financially dependent and you are ready to take the responsibility of your own family after marriage and friends, at this age some financial mistake also happens with you, which affects your whole life. Friends, there is a proverb in Hindi that when there is time, there is no wisdom and when there is wisdom, time is very short and this is the reason for our financial intelligence. It also happens that most of us often lack financial understanding at the beginning of our career, due to which we take many of our wrong financial decisions, which we regret with the passage of age, so friends If you do not take any such financial decision in your life, after doing which you may regret later, that is why I am going to give you some such important financial tips in today’s amazing post, using which you can increase your financial understanding. , and you can save yourself from making any mistake related to finance, so friends, today’s post is going to be very special for you, so you will read this post very carefully, so let’s quickly do our best. Let’s start the post and know which are the financial tips that will help you in increasing your understanding of finance, so let’s start.
1.PERSONAL FINANCE CONTROL : The right way to save money
Friends, PERSONAL FINANCE CONTROL means managing your money properly so that you do not get into any kind of financial problem and friends, if we talk about the best way to save money, then it is the best way to save money. (INCOME-SAVING=EXPENSES) i.e. 10% of the income you want to save, you have to set aside first and you should use the rest of the money.
2.SAFE INVESTMENT OF MONEY : Safe investment of your savings
Friends, let me tell you that the security of all the money you want to save is your first responsibility so that the money you are saving should never be lost and you can use that money for some big work, friends. As WALLEN BUFFEN has said, there are two rules of safe investment 1. NEVER LOSE YOUR MONEY 2. ALWAYS REMEMBER RULE NO.1 AND FRIENDS, THIS IS YOUR SECOND FINANCIAL Wise To Invest Your Saving Money Safely
3.POWER OF COMPOUNDING
Friends, Power of Compounding is considered to be the eighth wonder of the world, only after understanding this rule in the world of finance, you can become a good investor, time is most important in Power of Compounding and therefore at the beginning of your career, when you If you know the importance of Power of Compounding, then you can make a lot of money by using it in the long run, like suppose today you are 25 years old and you want to resign at the age of 60, then you have 35 years time now. And in this 35 years, if you start investing 2000 in every month, in which you get a compounding benefit of 15%, then after 35 years i.e. when you become 60 years old, then your deposit of 2000 rupees every month The amount will become 2.28 CRORE at 15% CAGR. You saw that only two thousand rupees can give you 2.28 CRORE, so friends, to take advantage of compounding, you have to invest for a long time as you have seen in this example.
4.UNDERSTANDING THE DIFFERENT FINANCIAL INCOME TYPE : UNDERSTANDING THE DIFFERENT INCOME TYPE
Friends, since childhood, we are taught only one thing at home and in schools that to earn money, we have to work hard, whereas there are three types of INCOME in the world.
ACTIVE INCOME= For which you have to work actively like – JOB, SELF EMPLOYED BUSINESS
PASSIVE INCOME = Friends, you do not have to work in passive income, in this you have to make one source of your income just once and that source of your earning keeps giving you money sitting at home like – RENTAL INCOME, ROYALTY, INTERNET BUSINESS , PASSIVE BUSINESS SYSTEM.
PORTFOLIO INCOME= Friends, you get portfolio income from different investments like – STOCK MARKET INVESTMENT, BANK DEPOSIT, MUTUAL FUND, DEBT FUND, INCOME FROM INVESTMENT
5.MAKE FINANCIAL BUDGETS
Friends, it is very important for you to make a budget for financial understanding, now making a budget means that you have to spend money on your needs in the right way and avoid wasteful expenditure so that you can get the money coming at the end of every month. to escape from the troubles of
So friends, these were some of our 5 important financial tips today, by using which you can remove your life from the problem of money, friends, hope you must have liked this amazing post of ours today. We have liked this post of ours and if you have liked the financial information given by us through this post, then please share this post with your friends also and if you have any question about this post in your mind then you You can ask us by commenting, friends, taking out so much of your precious time and reading this post so carefully, I get heartfelt thanks to you in some other wonderful and best post till then Jai Hind Vande Mataram.