Invest In A Mutual Fund:

Consider investing into mutual funds or some share market shares to earn from the immense profits they provide over either the short term or the long term. They may be susceptible to market factors and economical risks, but they offer lots of profits that you can use to pay off insurance premiums or invest in better FDs. The right assistance and foresight will take you far if you play your cards right with such investments. If you have EMIs to pay off, this money can always come in handy to pay it off in one go.

Set Aside An Emergency Fund:

You should set aside 3-6 months of your monthly expenses including any EMIs you might have in a separate emergency fund. Make sure you do not withdraw from this fund unless it’s for emergencies. And no, upgrading your hatchback to a sedan does not count as an emergency.

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