3. Know Yourself

You should know about your risk appetite as well as your financial traits. How much risk can you withstand to reach your goals? Will you choose high-return, high-risk options or would you rather have guarantee returns at low risk? Most importantly, analyze yourself to find out if your spending behaviour—do you spend too much, or very fickle with your plans, or simply lazy about your finances? Discipline yourself before you make any investment hence you will not suffer later.

4. Maximize Your Savings

If you are a student and you have no earning other than your pocket money, but you are keen to invest more, what can you do? You can either cut down your expenses or find ways to make money, say, by using your hobby or finding a part-time job. "I started freelancing with an HR company when I was in college. This was enough for my expenses and I managed to save some for investing," says SS Vikyath, a 23-year-old from Bangalore, as quoted by ET.