Easy way to personal finance your money with these 5 hacks

 Personal finance

note:Every words below is only for education purpose only. 

Do your own research before investing on the stocks or any other ways of investing your money.

keynote to read twice before reading the rest.

intro:

we get a paycheck as in the form of monthly salary .At the month end we are in shortage of money. This occurs for means how your financial management is going ? you think it always right. let discuss about it . The reason is that poor financing has no idea about investing . 

There are different ways for investment of money. To diversify your investment more than four is enough make it long term in those investments. Following procedures we need to check these before investing on anything like investing on gold .

1. Term insurance (person to person varies these that monthly expenses x 25 times is your insurance add the house loans, debt for the education loan , hospital expenses debt ,etc,, add all and then take your insurance and also check the other coverage in the insurance you want to research and understand the term insurance then it's for the education purpose only I'm not a CEBI, or government approved person)
2. Health insurance(5 to 10 lakh)
3. Emergency fund (3 to 6 month of the monthly expenses is needed to be saved and ready to be withdraws the money)
4. No Debt(EMI, Home loan...,)

• After taking these steps then repay your debt because already we are in negative at personal finance and trying to make more negative by investing on anything . A debt is already there no use of being an investing person. so, you first complete the debt of the loans.

• first to come zero debt after that time. Then start to make your roadmap for better finance and a peaceful life for  a retirement.
• we had experienced the pressure to repay the debt so, keep it on mind that having a pressure lead to another financial issues. so, you need resolve within a certain time.

 

start to list out the investing methods.

 

Don't wait for anyone to say that start to invest . Be your own decision maker that no one could manipulate you from the decision we made at the end . The reason for this point that we fail that's our problem. So, If someone said and we make that as our decision after a point we regret it so, you always have a issues with that person for ever in your life.

The option which are we know mostly to invest on these below also basics these are we get to know more on the journey of personal financing.

1. Real estate
2. Gold
3. FD (fixed deposits)
4. Government schemes
5. Stock markets

• REAL ESTATE :

Real state is that a person who having lump sum money and invest on real state. But the problem in real state is that we need to know about place lot of perspective before buy a land is because about the money grow or not at the place. Some point we need to stay for long to sell the land because the price of the land don't increase to small percent or even stay at the same price for years . We need to know about the place and then buy a land that we can attain a profit in few years either double the money, we invest on the land we need to choose the right land and make a right decision. Then we will surely profit in the real state .

• GOLD :

Gold is a thing we have in our history it came along with us. It's not an invest that we consider and use it as a ornament to wear in our hands, neck, or we buy for our children's future. 

Buy it as a Gold biscuit or gold coin or any form that without as a thought of gold as a ornament.

we can buy the gold in digital. So, that it is consider as investment if price increase means profit.

• FIXED DEPOSIT :

FD it's not good for long term goal . That it's just for short term goals such as buy a car in 3 years or buy a thing in 4 years or 5 years. That's the reason for only short term goals. Inflation gets into 7% per year.

so, that 1000 rupees we buy a groceries. The next year we need to have 1070 rupees to buy the same thing at every year increase to 7% inflation . So every year inflation is going to be high according to that we need to think before invest on FD that it's for safer place to invest for short term need such as for a car or buy in 2 years check for high interest in small banks gives 8% interest . Then one thing I want to add up that inflation in a country is varies in different sector that 10% inflation in medical sector and go and check out make a list it. 

• GOVERNMENT SCHEME :

The government provide citizens to be secure their life by long-term investing on a duration of 15 years or less than that investing on their schemes with taxation free after the profit of money through section 80 C in India by tax paying in the old regime. varies scheme is there to help the citizens but all for the log-term goals need to be consistent by all that make to secure some money for the kids and retirement life.

• STOCK MARKET :

It has several ways on stock investing is about investing by individuals or retailers. we invest on stocks, mutual funds, index funds and many ways to diversify your investing for making a retirement at old age.

• learn more about the stock market then invest on the market before don't even try to invest hard money you earned in a day for the hype created by the world.

volatile market that we can't say that it gives us ROI in three years is not possible it takes more than seven years to see the grow of the money. So, it's for the long-term more than 15 years surely I say that giving 10% ROI is possible that to stay long term and clearly you can be profit.

note a point that keep research for new path to invest. There try and experience as a new person to explore before the whole world .