We all know how to spend but before spending one must learn how to invest. Normal people plan early but invest later. However, smart people plan and invest gradually and at the very early of their age to earn a better return. Yes, smart people are those who start investing money since they become a major. Mark your 18th birthday as the beginning of financial independence. In this blog, we will discuss why to be independent and invest as early as possible will be good for you and for the future.
Yes, there is no huge motivator than to witness your invested money multiply with your right choice. You will learn the real worth of money the moment you start investing and seeing it’s multiplication. You must have seen your parents quoting “When you will start earning then only you will realize the importance of money”.
While this is so damn true, college-going can experience the same by practically investing in small fund schemes. Start investing from your pocket money and you will realize the importance of your parent statements. As it’s not that easy to invest just after you become major.
Why it’s important to evaluate because there are “n” number of investment options available. Now, out of all, you have to figure out which one is good for you. For this, you need to have knowledge about that particular product. There are possibilities, that you might get fail at times but failing teaches more than success. Important is to choose what you think will be right for you and start investing.
Why people choose long-term investment plan because it gives a better return than other short-term schemes. So, if you will start investing early at your age, with time your investment will grow, and you will definitely gonna save some good amount by yourself.
Investing early will bring a different level of confidence. Learning and earning along is good for young investors. It gives the confidence to invest wisely over time. Choosing one right investment plan will boost your confidence. Some of the plan that causes no future risk is investing in government schemes like PPF, NSC, KVP, Fixed Deposit, Recurring Deposit etc.
When you plan to start investing, make sure your chosen amount is affordable. Don’t choose any scheme or investing amount that would discomfort to you. Fortune favors the brave so invest what you can afford easily. Also, informing your elder will also be helpful. As they will definitely guide you on how to keep your money safe and invested properly.
There are not just one or two but many ways to start your financial planning. You are the best judge of your investment plan. However, you can start with Mutual fund scheme, Public provident fund, Health Insurance, NSC, SIP, health insurance or term plan. The choice is all yours, so choose smartly.