How to start investing? ,how to manage finances ,which things to start caring about? Just started earning

7mo ago

SleepyBurrito

JP Morgan

7mo

Even if you are not investing, dont get yourself into an EMI trap just to look cool to the society!

GigglyMuffin

Stealth

7mo

But for somethings without emi is not possible,like house and it is urgent also cause of marriages eligibility then

SleepyBurrito

JP Morgan

7mo

Well just FYI, I earn 50 lpa. I have a home in my city so I don't buy a house. I rented a good apt and got married. Getting a house should not be a prerequisite of getting married.

DerpyBoba

Razorpay

7mo

Start investing (however little) really early

GigglyMuffin

Stealth

7mo

yeah but where and how ,which funds or stock can u guide me ,I am totally newbie

DerpyBoba

Razorpay

7mo

PPF
SIPs (SBI, NIPPON, HDFC)
Gold Bonds
Term insurance (not a investment, more as a safety net)

BubblyMuffin

Capgemini

7mo

How to manage - as soon as your salary credits, pay out your unavoidable things like investments, term/health insurance, rent, retirement fund, etc. Then worry about spending the rest. If you want to, try maintaining 2 accounts - one for investments, one for expenses.

How to invest?

Get a term insurance - TERM not LIFE
Get a health insurance
Start building your emergency fund - 3 to 6 months of your expenses in FDs or some liquid mutual funds
Start investing. Start SIPs, no matter the amount. Do it in index mutual funds if you don't know much.
Keep tracking what percentage of your salary is going towards investments. If it's less than 20% (at least), rethink your expenses.