Start an SIP in a mutual fund

A Systematic Investment Plan is a smart and hassle free mode for investing your money in mutual funds. It is a flexible and easy investment plan. You can choose your scheme and amount of money that you want to invest.

These funds works by the power of compounding, ‘Sooner you invest more your money grow’. A person who starts investing from the age of 30 will have double the savings of a person who starts investing at the age of 40, when both will turn 60.  Cutting down an expensive salon treatment may help you earn a lot of money as the years passes. Now what are you waiting for? Start investing.

Buy health or car insurance or Buy a term plan

A health insurance can be a life savior; this might prevent the hospital bills from washing off your savings. If you are below the age of 35 it is advisable to buy a term plan which can be easily paid by one thousand rupees savings from every month, this can be up to a term insurance plan with one crore as cover. Quit unhealthy habits like drinking and smoking instead put your money in an insurance plan for your health or car which will help you to make your future brighter.

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