How To Create a Monthly Investment Plan (and Stick to It)?
Welcome, October! Diwali is just around the corner. You might have some travel plans this month. Why not we together create a plan? Not a travel plan, but a monthly investment plan! Here are five guidelines for creating a monthly investment plan and sticking to it: Take Note of Your Current Financial Position To start something, you should first assess where you stand. Similarly, to create a monthly investment plan, you should examine your income, savings, and expenses. If one’s standard of living is growing faster than income, then there’s a need to either increase income or decrease expenses. It will also help you prioritise which expenses are necessary and which ones you can cut down. Failing to do this can derail one’s financial well-being. Account for Festive Expenses With the onset of festivals such as Dussehra and Diwali, it is better to draw up a festival budget where you can list down all your necessary spending needs and thus make provisions for your investments to be made i...