Save Only By Setting Goals, Advises

Ways Of Saving Money


You Work In A Private Company. So You Have To Move Forward According To Today’s Reality. Uncertainty Is Increasing In Job Life These Days. Therefore, an Emergency Fund Equal To The Expenses Should Be Created In 6 Months.

Ways Of Saving Money
Ways Of Saving Money

Reader Question:

Age 26, Single. The Staff Of The Private Organization is About Two Years. Monthly Income Is 30 Thousand Taka And Expenditure Is 15 Thousand rupee. No Pension. Life insurance of Rs. 30 Lakhs. Should You Think About Premium Investment Now? And How Much Investment in Which Sector?

Financial Advisor Answers:

You Have Written, Your Monthly Savings is 15 Thousand Correct. You Have Not Written What Your Savings Goal Is. You Have Also Not Mentioned How Much Your Household Debt Is. These Two Are Some Of The Information That Is Generally Needed To Decide On A Savings Strategy. So I Proceed By Relying On Some General Assumptions.

Also Read – Low Income, But How To Secure The Future?


1. Since There Is An Insurance Cover Of 30 Lakhs, Assuming It Is A Term Plan. That is, Pay The Premium On Time And It Is Also A Part Of Your Savings Plan. You Are Not Making This Investment Just To Manage Life Risk. So I Would Say No More Coverage is Required At This Stage, As You Are Still Single. However, This Limit Can Be Increased After Marriage. And How To Increase It, You Have To Think. Instead Of Going The Endowment Route, You May Want To Consider A Term Policy To Manage Risk.

2. You Work In A Private Company. So You Have To Move Forward According To Today’s Reality. Uncertainty Is Increasing In Job Life These Days. So Create An Emergency Fund Equal To The Expenses In 6 Months. Start SIP In Any Scheme Like Liquid Fund. So That It Can Be Broken Quickly If Necessary.

Low income, but how to secure the future?

Low income, but how to secure the future?

3. Now Think Of An Equity-based Mutual Fund That Invests In Shares Of Companies That Trade In Different Sectors. This Will Not Only Reduce The Risk Of Your Investment, But Also Increase The Amount Of Income Or Return.

4. A Part Of The Savings Can Be Kept In Fixed Deposits. Because Interest Rates Are Increasing Now. You Can Take His Chance. You Should Also Think About Bond Based Mutual Funds. Because Interest Rates Fluctuate. And if The Interest Rate Falls, There is Profit In Investing In Bonds. Because When The Interest Rate Increases, The Price Of The Bond Decreases And When The Interest Rate Decreases, The Price Of The Bond Increases.

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