If you’re between college- and first promotion-age, a home or retirement matter little to you. We get it – the angst of always looking #instaworthy. But not knowing how to go about it without breaking the bank or starving, can be quite the bummer.
A little smart investment can help you ace millennial game – albeit within reason!
SHINY NEW GADGET
Intelligent watches, speakers that respond, artist-friendly smartphones – once you’re lured into the gadget world, there’s no turning back. Typically, a gadget update costs about 30% more than its predecessor. If you your old version hasn’t broken down, earn some exchange rebate as well.
I’M MOVING MY CHEESE
Sigh. That old wanderlust’s instinct for change just can’t be sated, can it? So you’ll book flights and hotels three months in advance, midweek and slap on all the discount coupons. But safety and comfort come at a premium. Budget that in and have a happy holiday: Don’t scrimp on them – do buy insurance when booking your tickets and make sure you don’t stay at some shady Airbnb just to save on stay costs
As for paying for these seeming extras is concerned, trust us, a short term investment can result in sweet forever memories.
WEDDING BELLS, THEY ARE A-RINGING
Amidst all the excitement of retinues, menus and venues, the financing part of one’s wedding is often a last-minute jugaad. The previous generation turns to their Public Provident Funds for this one. Ours borrows loans. Some others even wait for their long term mutual funds to reach a stage of happy returns.
But love shouldn’t have to wait so long. Nor should the heart’s desire to soar. And digital or analogue – if you can’t ‘tech’ it easy, it would be such a kill-joy.
Loans come at a high repayment cost. Stressing about money at one’s wedding is fun – said no one ever. Archaic old PPF has an upper limit on withdrawals, unless you’re shutting the account for good (sounds a lot like dad’s 9 pm curfew, doesn’t it?).
Long-term mutual funds have been known to yield high returns – but life is short and YOLO! They already sound like the slightly awesomer. But still-awhile distant cousin of PPF uncle with the time they take long to yield returns.
Short term mutual fund is a feasible option if you have low appetite for risk, since the investment is higher in debt than equity. They give mid-ranged returns of up to 9.6%.
These small wins are easy with short-term investment options. The risk is low, the gratification almost instant. Plan for them in the medium term (3 months to a year), and with moderate returns you can enjoy your ritual of retreat often enough!
Smart Money October 5, 2022
10 Demons To Kill This Dussehra
Dusshera is one of the major Hindu festivals that also symbolizes the end of Navratri. The festival is celebrated as the victory of Lord Rama over Ravana. It also marks the triumph of Goddess Durga over the demon Mahishasura. So this festival symbolizes killing demons or destroying negative and bad habits we have in our […]
Smart Money September 27, 2022
Hacks to plan for a budget-friendly vacation!￼
In today’s world, everyone’s life is full of adventure, so there needs to be some relaxation along with fun in life. So, in order to release all day-to-day stress, one needs a break from their daily routine to refresh our mind. One such time is when Raj and Simran decided they needed a break from […]
Smart Money September 6, 2022
How To Invest & Build In Emergency Funds
Radhika: I am facing financial stress as there is a sudden unfortunate medical emergency. Apurva: Didn’t you have any emergency funds for such a crisis? Radhika: No! What do you mean by the emergency fund? You know what, I had to dig out money from my long-term investments. I am worried about how to tackle […]