Trading and Managing Finances
Can anyone help me with how to start making money and manage finances smartly? I get 20k as salary every month and it's not enough but I do want to start saving. I do have mutual funds and RD. Any tips on investing to make more money? How to get started?
Assuming here that you are young and at the start of your career.
Budgeting and habits are more important than actual saving. Any ₹₹ you save today will take sacrifices, but those same ₹₹ will be earned in a day as your salary increases. Focus more on budgeting and not giving in to impulses.
Also, if you need to go into debt to upskill, do that. Do anything, whatever that will improve your future income. Degrees, education, courses, socialising etc. Take money from parents and relatives if possible and need to increase that 20k income asap somehow.
I cannot take from parents and I'm already providing for them. Living in bangalore, having savings plus taking care of family plus your own rent and food and everything. That's what I'm doing. I just wanna know whether I can turn my savings into something that can actually get me some money like interests.
Try to increase the salary first. No matter how disciplined you are, how much you are able to save will depend on your salary