Financial Security

A ROADMAP TO YOUR JOURNEY TO FINANCIAL SECURITY


DON’T WAIT TO GET STARTED

YOU CAN DO IT! - IT’S EASIER THAN YOU THINK. No one is born knowing how to save or to invest. Every suc¬cessful investor starts with the basics

PAY YOURSELF OR YOUR FAMILY FIRST

What are you paying yourself every month? Many people get into the habit of saving and investing by following this advice: always pay yourself or your family first. Many people find it easier to pay themselves first if they allow their bank to automatically remove money from their paycheck and deposit it into a savings or investment account

FINDING MONEY TO SAVE OR INVEST

If you are spending all your income, and never have money to save or invest, you’ll need to look for ways to cut back on your expenses. When you watch where you spend your money, you will be surprised how small everyday expenses that you can do without add up over a year.

SMALL SAVINGS ADD UP TO BIG MONEY

How much does a cup of coffee cost you? If you buy a cup of coffee every day for Rs 20.00 (an awfully good price for a decent cup of coffee, nowadays), that adds up to Rs7300.00 a year. If you saved that Rs 7300 for just one year, and put it into a savings account or investment that earns 15% a year, it would grow to Rs14682 by the end of 5 years, and by the end of 30 years, to Rs4,83,345. That’s the power of “compounding.” With compound interest, you earn interest on the money you save and on the interest that money earns. Over time, even a small amount saved can add up to big money.

PAY OFF CREDIT CARD OR OTHER HIGH INTEREST DEBT

If you’ve got unpaid balances on several credit cards, you should first pay down the card that charges the highest rate. Pay as much as you can toward that debt each month until your balance is once again zero, while still paying the minimum on your other cards.

MAKING MONEY GROW


THE TWO WAYS TO MAKE MONEY

There are basically two ways to make money.
  1. YOU WORK FOR MONEY. Someone pays you to work for them or you have your own business.
  2. YOUR MONEY WORKS FOR YOU. You take your money and you save or invest it.
Your money earns money. When your money goes to work, it may earn a steady paycheck. Someone pays you to use your money for a period of time. When you get your money back, you get it back plus “interest.” Or, if you buy stock in a company that pays “dividends” to shareholders, the company may pay you a portion of its earnings on a regular basis. Your money can make an “income,” just like you.

YOU CAN MAKE MORE MONEY WHEN BOTH YOU AND YOUR MONEY WORK

START INVESTING FROM TODAY