As the saying goes “failing to plan is planning to fail”, the general tendency with young working professionals the seriousness of a financial planning has not gained popularity and because of which they build a liability basket and service them long with their earnings.
- Preparing an emergency corpus helps you to financially manage a job loss, illness and accidents etc.
- It is advisable you become debt free especially credit cards, any educational loan etc. While remaining debt free is a great idea, at the same time should also know how to make your money work harder
- Save for unbudgeted expenditure
- Start building retirement corpus through Mutual Fund SIP with amount that doesn’t affect your present life style. This small step will help you retire rich.