How to get started with investments ( mutual funds)
Hello dear Viners, Greetings, After continuous spending of my salary for 3 years I am feeling like I should start saving a little, and as I see the world it has gone way too ahead and above my intellect, if any of the sweet Viners can drop their seeds of intellect here I would be grateful.
(Which apps should I use/ which funds should I invest in)
Thank you 🙇🏻
Talking product sense with Ridhi
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I don't know if you asked for saving tips or investment tips. If it's the latter, start here:
https://www.indiainvestments.wiki/
If it's former, then how about you create a bank account in BoB or SBI, so that you get the worst service at the bank, do not opt for ATM, so no UPI, no chequebook and no internet/mobile/sms banking, so that only way to withdraw money is to go to the bank, also don't choose bank too close to your home.
And now start sending money conservatively from your account to that bank account, through UPI. It makes saving money easy, and spending money very difficult.
This worked for me because I used to save, and then I used to un-save whenever I felt like "a needed expense" which was not even needed in hindsight.
Another way is to just buy ELSS funds as much as you can so money stays locked in for 3 years no matter what you do and you don't get to panic withdraw when you see a red.