Importance of Systemic Savings and Investments
A small savings each month, if invested properly for a long period of time can accumulate a significant amount of wealth . Sounds simple. Isn't it? So let's break this sentence, so that you can apply this principle in your life with whatever little or huge amount of money you have (or, more precisely, you manage to save). 1. Discipline and importance of savings: Almost all of us know the importance of savings but only a few of us have the required courage to save by delaying our 'instant gratification' by spending in useless things. So building a strong habit of saving is important as saving enables you to have the required capital to start investing. Now, the question arises-How to save and how much to save? Let's consider, you are earning, let's say I rupees per month( if you are earning more than great) and your total expenses of the month is E so you have (I-E) saved. Now, what you should do with saved money is to build an emergency fund of at l...