Advice for SALARIED class People
1. Do not spend more than 50% of ur salary in a month.
2. Save 50% and invest in at least 3 different places. Be it Mutual funds, PPF, Stocks, Gold, NPS, Crypto etc as per your risk profile.
3. Constantly thrive for 2nd source of income. Don’t count on spouse income as 2nd source, rather consider that as an emergency fund
4. Must have health insurance for your family and term insurance until you have enough for dependents to rely upon.
5. Do not try to match up ur lifestyle with others.
Instead, try to match up with their hard work.
6. If you are taking a loan, buy assets with it, not liabilities.
Assets:- Education loan, Loan for low-risk business with regular cash flow, House loan only if the EMI is equal to or slightly more than the rent you were paying.
Liabilities:- Loan for expensive flat, Buying an expensive car, High-end vacations etc.
7. Never rely on ur Parent’s money coz they are not relying on urs.
8. Ways to decrease expenses:-
-Control ur fingers on food delivery apps.
-Avoid unnecessary shopping in malls or via apps.
-Take the metro, auto instead of a Cab whenever possible.
These apps and an easy UPI payment system are built to force you to make decisions that you don’t require most of the time.
9. Don’t fall into the trap- Zindagi Ek mili hai, khul ke jo aur udao
Coz most of those activities can be momentary pleasures but not life fulfilling experiences. 🙏🙏