Saturday, January 23, 2021
  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Contact Us
No Result
View All Result
WORLDHAB
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Cryptocurrency
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Cryptocurrency
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media
No Result
View All Result
WORLDHAB
No Result
View All Result

Home » News » 8 financial tips to follow before your 35th birthday

8 financial tips to follow before your 35th birthday

August 13, 2019
in Finance, News
25
0
Loading...

When you reach the age of 35, almost settled or well-settled with a family, that is when you really understand the importance of financial discipline and planning. If you were careless with your finances, of course you will regret your decisions when you reach age 35.

Loading...

If you are yet to reach that milestone age, this is the perfect time to begin. Here are 8 financial tips that you should definitely read, understand and follow before you reach the age of 35.

Stay away from the lure of quick profits – Quick and higher profits is what trap most new and inexperienced investors. As Warren Buffet, one of the most successful investors in the world suggests, you should always invest in things you know about. If you don’t know what you are doing, you are probably gambling with your money. Say a quick ‘No’ to quick profits, is what he advises young people.

To accumulate long-lasting wealth you must have a long-term investment horizon. You can invest in an annuity policy for a steady source of income after retirement.

Loading...

The right approach – You must have the right perception about investing for sound financial planning. Usually, people in their 30s spend their money first and then invest of what is left. According to Robert Kiyosaki, author of the book “Rich Dad, Poor Dad,” that’s a wrong approach to get rich. You must first invest your money than spend of what is left.

Cut down on impulsive buying – You go to the mall to buy a pair of jeans and end up with a wardrobe overhaul. Or you go for your monthly groceries and start splurging on cosmetics, gadgets and exotic food. The shopping malls are designed to encourage impulsive buying but you have to inculcate discipline and stick to your shopping list, especially when you are using your credit card.

Limit credit card use – It is tempting to swipe your credit card and buy everything you like and convert them to easy EMIs. Undoubtedly, credit cards give us great purchasing power. However, with great power comes greater responsibility. If you are not careful and engage in impulsive purchases, you end up in a debt hole that can be hard to get out. So, be careful not to misuse your credit card with impulsive buying.

Invest for the long term – Don’t invest to gain little profits in the short-term but stay invested for the long-term to derive bigger profits. Invest in an asset class that provides steady returns but are not subject to much volatility such as public provident fund (PPF), equity linked saving scheme (ELSS), real estate, annuity plans, etc.

Create a monthly budget – Create a monthly budget depending on your average monthly expenses and try your best to stick to it. But first you have to start tracking your daily expenses to understand how much you are spending every month. Make investment goals and milestones and start saving for a car, marriage, home, etc., by investing in a unit-linked insurance plan (ULIP).

Loading...

Ensure that you are adequately insured – Thirties are the time to take stock of your life insurance and health insurance coverage – for your protection and your family’s. You must at least have a term insurance, a ULIP, whole life insurance policy and annuity plan. Don’t forget to buy health insurance or a family floater for all your dependents.

Prioritise debt repayment – You may have taken an education loan for higher studies or a personal loan for travel, now is the time to pay them off as fast as possible. After you have paid off your previous loans, you can plan for a home loan to fulfil your dream of owning a home. Also, make timely repayments so that your credit score remains healthy.

According to a theory introduced by a financial website in the U.S., one should save two times their annual salary before attaining the age of 35 years. [1] If you think that you will be earning Rs. 12 lakhs per annum by the age of 35, you should have at least Rs. 24 lakhs in your account by then. Indian financial experts believe that it is achievable if you are disciplined in your investments, start early and maintain a long-term investment horizon.

Share10Tweet6SendShare2Pin2Share
Previous Post

Corey Shader Shares Five Basic Steps to Get Your Startup Idea Off the Ground

Next Post

Tips to get SoundCloud Followers

Hari

Hari

Hari Prasath has been a full-time Internet Entrepreneur and Life Hacker since 2014. He is a self-taught web developer and Marketing expert building many Online Businesses and testing greatest strategies with Clients during the day and at night, build Niche websites.

Related Posts

Elon Musk wants to be paid in Bitcoin

Elon Musk wants to be paid in Bitcoin

January 11, 2021
Cryptocurrency Surge 100 percent in 2021

Cryptocurrency Surge 100% in 2021: Investor Bill Miller

January 11, 2021
how to become certified financial planner

How to Become a Certified Financial Planner

January 1, 2021
Happy New Year 2021 Wishes, Images, Quotes, SMS, WhatsApp Status

Happy New Year 2021 Wishes, Images, Quotes, SMS, WhatsApp Status

December 31, 2020
Sovereign Gold Bond Scheme (SGB) December 2020: Open on Dec. 28

Sovereign Gold Bond Scheme (SGB) December 2020: Open on Dec. 28

December 25, 2020
Bank Holidays 2021

Bank Holidays 2021: List of National, Govt., & Saturday Bank Holidays in India

December 25, 2020
2021 Honda Passport vs Pilot

Honda Passport vs Pilot 2021 Comparison – Find the Best Model for you

December 24, 2020
Gmail, Google and YouTube down: Services crash

Gmail, Google and YouTube down: Services crash

December 14, 2020
Next Post
Tips to get SoundCloud Followers

Tips to get SoundCloud Followers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

SEARCH

No Result
View All Result

FOLLOW US

Follow our social media pages and get updates quicker than ever.

Facebook Twitter Youtube Instagram

RECENT POSTS

Isaimini movie download website

Isaimini Tamil Movies Download Website in illegal HD Quality

January 23, 2021
RRR Release Date

RRR Release Date: Ram Charan-Jr NTR Starrer movie release date revealed? 

January 23, 2021
Sri Reddy without Pants Photo viral on Social Media

Sri Reddy without Pants Photo viral on Social Media

January 23, 2021
Bigg Boss Kannada 8 Start Date

Bigg Boss Kannada Season 8 Start date announced: Promo Video Shoot begins

January 23, 2021
Super Singer 8 Grand Launch

Super Singer 8 Contestants List with Photos: Show host, judges announced

January 23, 2021

ABOUT

Founded in 2016, WORLDHAB delivers news from the various niches around the world for the targeted audience. For any advertising queries, contact us anytime.

We got approved in Google news and Bing news in earlier 2016. And since then, we help small businesses to grow their business by improving their website authority.

POPULAR CATEGORIES

  • Business
  • Finance
  • Insurance
  • Bitcoin
  • Entertainment
  • Sports
  • Football
  • Cricket
  • Lifestyle
  • Health
  • Travel
  • Romance
  • Technology
  • Education

FOLLOW

Facebook Twitter Youtube Instagram Pinterest LinkedIn Vimeo

WORLDHAB STATS

  • Monthly Traffic: 50,000+
  • Site Age: 5 Years
  • Google News Approved
  • Bing News Approved
  • Alexa Rank: 912,985
  • Domain Rating: 22
  • URL Rating: 24
  • Domain Authority: 33
  • Page Authority: 38

CONTACT

For Guest posts, Sponsored posts, Advertising enquiries, contact: support@worldhab.com

  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Contact Us

© 2020 WORLDHAB - Premium WordPress theme by VISION.

No Result
View All Result
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Cryptocurrency
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media

© 2020 WORLDHAB - Premium WordPress theme by VISION.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.