Do Not Spend More Than Needed

Be careful

You never know what is in store for you in future therefore it is better to spend as per your income with keeping rainy days in mind. If you are a heavy investor by habit, this is right time for you to put a curve on your habit. You cannot overlook recession or sudden job problems or may be a health problem, which may affect your earnings to great extent or no earnings for considerable time spans

It is better to save enough or reduce your extra expenditures while you are earning enough, better still if you have loans to pay try to get rid of them in this happy period. Let us look some of the possibilities to help plan for your future.

1-Plan your future carefully- The biggest problem people face in crisis is due to unplanned future planning. There are two ways of doing it one is right and the other leads you to a possible disaster. If you are earning comparatively well now you should save a certain percentage to make your future secure or the other way is spend as per your needs or items, which are not that necessary and spend more than you earn using your credit cards etc. You cannot spend more than you earn and not finding yourself in a jam later. You should plan you investments according to your income although you cannot avoid unexpected conditions in the process. You can always save enough for unforeseen problems, which are parts of our life.

2-Do not depend on future income-  Most young professional who are earning good in their present jobs do not want to think about future and spend too much on luxury and undesired items through their income and loans. One must take into account the scenario if present job is no more exists or salary reduced. You should rather squire up loans and invest in schemes which would multiply your savings and once you are well backed up and secured you can spend according to your requirements.

3-Do not invest in risky portfolios- Most young professionals invest in hot assets but they should know the value of asset allocation as the markets of our country change trends too fast therefore this is wise to invest in bonds, stocks and gold along with real estate if you are capable.  

Article Posted By : sunylView All Articles

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Keywords :
Spend , save , Stocks , Bonds , Assets , Income , Rainy day , Carefully

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