READY TO DIG DEEPER?
Whether it is protecting your life as you plan for the future or being smart about your investments to make your money grow, understand what works for you.
SET HOUSEHOLD BUDGETS
An easy and smart guide to managing your household expenses effectively
Gen-Z: achieve financial freedom with savings, investments, insurance, emergency funds.
Financial security is an important goal and setting a budget and adhering to it can only help to attain this goal. Making a budget to maximise savings and optimising investment planning while managing your expenses and finances can be difficult but, it is the first step in accomplishing your short-term and long-term financial goals. The more efficiently you budget your expenses, the better your financial planning, and the closer you are to achieving your financial goals.
A periodic check-up is the best way to keep track of your health – and the same goes for your finances. When it comes to managing physical health, we simply consult doctors and follow their advice. Financial health can be trickier. We don’t always know where to begin or whom to consult, and we end up neglecting it.
ENSURE COMPLETE PROTECTION
Shield yourself and your loved ones with robust insurance planning
As you grow older, your responsibilities will grow, and before you know it, you’ll have a family to support. That comes with its own set of financial obligations, from college funds and home loans to cars and vacations. But if the pandemic has taught us anything, it is to expect the unexpected – and insurance is a vital risk management tool to protect you from unforeseen crises. It is a critical part of any financial plan – so let’s find out why insurance is so important for your financial well-being.
It’s been said that “life is what happens to you when you are busy making other plans”. In other words, life is unpredictable. Emergencies can come out of the blue and impose huge financial burdens. The pandemic has shown us that even the best-laid plans can be derailed by a sudden job loss or health crisis.
Good financial habits, especially if developed early on in life, can offer considerable rewards in the future. Let’s delve into 7 good financial habits you can build from today:
SAVE & INVEST IN TOMORROW
Save and invest for your secure future
Adhering to your financial plans is essential for financial security. If most of your expenses are unplanned, you may end up overspending. This could trigger a short-term crisis, as you run short of money to pay your bills. These crises hinder your progress towards your financial goals. Without a proper framework to manage cash flow, you may become susceptible to an endless cycle of credit card debt. You might even run out of money to pay insurance premiums, leaving you vulnerable in the face of life’s uncertainties.
If you’ve always wanted to see the world, don’t let your finances hold you back. Start building a travel fund so you can backpack across Europe, enjoy an overwater villa in the Maldives, skydive in Dubai and more. Sound financial planning will make sure you have the money to enjoy your trips, and that you don’t have to worry about your finances when you’re back home.
As a young investor with dreams and aspirations, this is the time of your life! You’ve probably got so many personal goals to achieve, whether it’s a new house, a new car or a bucket list vacation. For each of those dreams, you must have a plan beyond just savings – and Systematic Investment Plans (SIPs) are one of the best ways to get there.