Money Saving Tips: In today’s times, rising inflation has broken the back of the common man. As soon as the salary arrives, the money disappears on essential household expenses, children’s education, rent or home loan EMIs, and daily needs, without you even realizing it. At the end of the month, the same question often arises: where did all the money go? If you are unable to save for the future, it doesn’t mean your income is low, but rather that your financial planning is not right. With a little wisdom and the right strategy, you can not only control your expenses but also secure your future.

Read More- Maduro wasn’t the only one, America also lifted these president and threw him to his death

Save from your salary every month

Financial experts believe that the money left over after spending is not what constitutes savings; rather, saving should come first, followed by spending. Setting aside at least 30 percent of your monthly income for the future is a wise decision. For example, if your salary is 70,000 rupees, then about 21,000 rupees can be saved every month. This amount not only comes in handy during emergencies but also helps you achieve your bigger goals in the long run.

Don’t keep too much money in your savings account

Most people leave a large portion of their savings in a savings account, where the interest earned is much lower than the rate of inflation. Keeping a limited amount in the account for necessary expenses is fine, but the extra money should be invested in options that can provide better returns. If your monthly expenses are around 50,000 rupees, then keeping up to one lakh rupees in a savings account can be considered sufficient. Investing any amount beyond that is a wise decision.

Invest in gold

Gold has always been considered a symbol of safe investment. During market fluctuations, gold provides stability to your investment. This is why it is advised to keep approximately 10 percent of your total investment in gold. Today, alternatives like Gold ETFs or Gold Mutual Funds are considered more convenient and secure than physical gold. This investment also helps mitigate the effects of inflation.

Invest in the Stock Market

If you want to grow your money quickly, the stock market can be a good option, but it also involves risk. Investing with the right information, patience, and expert advice can yield excellent returns in the long run. Balancing your investments according to your age is crucial. Young investors, especially those around 30 years old, can allocate a larger portion of their savings to equities because they have more time and a greater capacity to take risks.

Invest in Guaranteed Return Schemes

Every investor’s portfolio should include some options that offer security and guaranteed returns. Schemes like PPF, Post Office schemes, and Fixed Deposits play a vital role in this. As you get older, the proportion of these schemes in your portfolio should increase. By the time you reach around 50 years of age, allocating a significant portion of your savings to fixed-income options becomes essential for future financial security.

Read More- Renew Your Driving License in 2026 Without Visiting the RTO, Learn the Easy Process

Get Insurance Policies

Financial planning is not limited to investments alone. Life insurance and health insurance are equally important. Your life insurance cover should be at least seven times your annual income to ensure your family is not financially burdened in case of an unfortunate event. Medical insurance, on the other hand, helps protect you from the high costs of serious illnesses or unexpected medical emergencies. This protection, in exchange for regular premiums, provides significant relief in the future.