1. Avoid buying property on loans as it eats most
of your earnings unless you have a clear plan for
its repayment. It’s important to monitor cash flow.
Though, the house will be your asset, your liability
will be much more.
2. Start a SIP at a very young age. Try to save
atleast 15–25 % of your earnings.
3. Avoid buying a car unless you use it everyday.
4. Do not let this sentence scare you. “Mutual fund
investment are subject to market risk. Please read
the offer documents carefully before investing”.
Most people avoid investing in mutual funds just
because of this one warning. Yes, there is a market
risk, but look at the history and growth of mutual
5. Try having a simple wedding.
6. Atleast 20% of your wealth should be liquid so
you can utilize it when necessary.
7. Considering inflation, you are actually losing
money if it is in savings bank account. Do not keep
huge money in savings bank account.
8. If you invest in stocks, pay due attention.
9. If you invest in stocks have a separate account
for delivery investment and Intraday investment. It
is easy to monitor this way and also makes tax
10. Do not have a belief that property and car
make you rich. Its what you save and invest, that
11. Never invest in insurance for returns. Insurance
is not an investment option. It is a risk
12. Never use credit cards for lavish spending. Use
credit cards intelligently and for needs not for
13. Cancel all credit cards before you die. Or
inform family about all your accounts, credit cards,
loans and saving now itself. Even a small residue
will cost your family much.
14. Invest on yourself and then on other
15. Always try to balance your earnings with your
savings first, then on spending and loans. Never
take unnecessary loans. Always have reserve and
utilise them and unless no other go never take
16. Always have a plan for future events on your
career, life, spending and finance.
17. Always have a reserve on your savings for
contingency and urgent situations.
18. Your personal life and health are the most
important investment. Do have a regular health
check and do healthy workout every day. Stay healthy and live happily.