1.A financial budget is a crucial step to organise one’s monthly cash flow. Take the help of online resources and apps. Tweak it as spending habits or income levels change.
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2.A good credit score is key to qualifying for best credit cards and loan deals. Improve your credit score by using the card regularly and paying the minimum due or full amount every month.
3.Build an emergency fund to cover unexpected expenses like medical bills or car repairs. It can help you avoid expensive personal loans.
4.Start long-term saving for your financial goals. It’s never too soon to start saving for retirement, and the earlier you start, the more your money can grow.
5.Build good money habits. Check your account balances regularly, pay credit card bills on time, and commit to small savings via SIPs for long-term wealth creation.
Content on this page is courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
