When India is going through election outcome of 2019, people are gossiping across the board, sentiments are struggling between a win or loss of respective political parties, the stock market or the economy is dancing on the same note, showed 600-700 points of momentum in the last couple of weeks. Contrarily, in the world of e-commerce, giant names like Flipkart and Amazon are trying to shift general public’s focus to digital shopping platforms as they are open with heavy sale discount events from personal care to clothing to home appliances and what not. On the grounds of that, knowingly or unknowingly we indulge ourselves in frivolous expenses, which should be avoided.
Rather we should focus to increase our source of income and should find a solution to achieve our financial goals, which would help in our retirement age, can be used in emergency circumstances of life or just to lead a stress-free living in this hectic tournament of life.
Check out below lifestyle hacks, which would make you a wise and smart financially independent individual:
- Change your phone’s setting: Mute your shopping app’s notification as it encourages you psychologically with every single mesmeric alert that makes you a compulsive shopper.
- Avoid plastic money: Old school backbiter item to our income is the credit card. One can say it is a cash-less payment mode and people are more interests to have multiple numbers of alternatives believe to focus on benefits of the cards rather knowing the fact that it exploiting our savings and extending our needless expenses on monthly basis.
- Track your Money: One should keep a note on the ratio of savings versus expenses.
- Harvest yourself with Insurance Protection investments: Insurance policy is an investment option, which we all are familiar with that protects your life, health, vehicles amid long term care of an individual along with family.
- Benefits of Mutual Fund SIP: Systematic investment plans are more organized and give you the opportunity to invest in the stock market. The more you channel your money, the more you became smarter to achieve your financial goals. Moreover, on this election turbulence, an investor should not miss the opportunity to invest in every correction and make money accordingly.