MONEY LESSONS

Some very important Financial Tips that Everyone should know.

1. Avoid buying property on loans without a clear repayment plan; it can deplete your earnings and increase your liabilities. Monitor cash flow. Opt for renting to benefit from low rental yields, increased liquidity, and a growing investment corpus, leading to greater wealth creation.

2. Start SIP early, save 15-25% of earnings. Avoid unnecessary car purchases.

3. Don't fear mutual funds' market risk; research their history and growth. Try having a simple wedding.

4. Most of your wealth should be liquid so you can utilize it when necessary.

5. Considering inflation, you are losing money if it is in a savings bank account. Do not keep huge money in your savings bank account.

6. If you invest in stocks, pay due attention.

7. Else a mutual fund portfolio is a better and more sustainable option where an expert fund manager looks after your portfolio. Do not have a belief that property and cars make you rich. It's what you save and invest, that creates wealth.

8. Never invest in insurance for returns. Insurance is not an investment option. It is a risk management tool. Never use credit cards for lavish spending. Use credit cards intelligently and for needs not for wants.

9. Always remember death can come anytime, so please buy adequate term Insurance if you have dependents. Prepare a Will. It may avoid unnecessary fights after you die.

Name: Praful Patil

Firm Name: PATIL INVESTMENTS

Mobile: 9833473537

Email: praful@patilinvestments.co.in