Preparing to invest? These things should be known

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<span>Do you find
it very easy to start investing? But now it is not so easy. Investing is part
of your overall financial planning. So even if it is one rupee, one should
think before investing. Some Things to Know Before Investing</span></div>
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<a href="https://1.bp.blogspot.com/-r0YP5gutC0o/XjAuQCHcW8I/AAAAAAAABts/XznnrbJ_IREiwSiBkqGPjr0VmsJxjMrAgCLcBGAsYHQ/s1600/Inkedinvestment_LI.jpg" imageanchor="1"><img border="0" data-original-height="182" data-original-width="275" height="132" src="https://1.bp.blogspot.com/-r0YP5gutC0o/XjAuQCHcW8I/AAAAAAAABts/XznnrbJ_IREiwSiBkqGPjr0VmsJxjMrAgCLcBGAsYHQ/s200/Inkedinvestment_LI.jpg" width="200" /></a></div>
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<b><u><span>1.
Prepare your own budget.<o:p></o:p></span></u></b></div>
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<span>This is the
first thing to do before investing. Once you have your own budget, you will be
able to understand how much money you can invest after dwelling and other
expenses. For budgeting, first write down all the sources you can get from
various sources. This includes the salary of your spouse, rental income,
interest on investments and dividends. Then make a list of expenses for each
month and set aside the amount. This should include everything from grocery
bill to petrol costs to vehicles, car EMI. It is better to calculate all
revenues and expenses for the month.<o:p></o:p></span></div>
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<span>Once you
have budgeted and followed it, the first stage of financial planning will be
completed. Within two to three months you will be able to understand where you
are spending the most and where to cut costs. It is also possible to set aside
additional savings. Short term and long-term financial goals such as car
purchase, children's education and leisure travel can be accurately planned.<o:p></o:p></span></div>
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<b><span>2. Get
rid of debt<o:p></o:p></span></b></div>
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<span>The next
step is to make a plan to get out of debt as quickly as possible if you have
borrowed money. Debt is of great importance in financial planning for each
person's financial planning. Suppose an investor makes 12% of returns per year
through various investments. If that percentage is the interest rate on the
loan, then there is no point in earning any income. Your wealth will never
increase. Unreconstructed loans such as personal loans, credit cards and car
loans and constructive loans such as home loans<o:p></o:p></span></div>
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