How to save money...

Saving won’t make you financially independent but saving and investing will surely do.

Whatever you earn try to save 20–30 percent of that amount and invest it into markets- Mutual funds/stocks/NPS.

Now let’s take example and use some calculations.

Suppose your started investing 5000 every month in mutual funds for 5 years and return 15 percent per year.

Investment-300,000

Earnings-1,48,408.45

Total-4,48,408.45

Now increase the time frame- 10 years.

Your Investment-6,00,000.00

Your Earnings-7,93,286.36

Total-13,93,286.36

Now increase the time frame- 15years.

Your Investment- 9,00,000.00

Your Earnings-7,93,286.36

Total- 33,84,315.47

Hope you get it. Even a small amount will make you a corpus over the years.

Now suppose you are thinking to buy a flat/house/property in next 10 years then 20000 per month SIP in mutual funds will generate you 55 lakhs.

And if you increase the time it will be 1,35,37,261.88 which is 1 crore 35 lakhs.

So never stop investing.

Even a lumpsum amount of 2lakh Invested will give you 32 lakhs .

Also never be afraid to take home loan because the loan interest rate is less compare to mutual funds earnings. Buy home on loan and invest the cash amount regularly in mutual funds (mid caps, small caps, large caps).

Happy investing and financial independence.

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