“For years, I let others manage my money, leaving all my savings in a risk-free way of FDs and Bonds and in actual not growing it at all. But a year ago, I decided to take control and learn finance on my own and learn from others – which resulted into appreciation of my money of around 4-6 Lakh with small tweaks! Here are 3 things I have done: Diversifying based on my risk appetite Diversification sounds scary, but it doesn’t have to be. I've split my investments across basic, but multiple assets; 25% in fixed deposits, 30% in equity, 30% in provident funds and 15% in other investments like loan/partnering with some firms. It’s not super risky but the returns are great! Tax Strategies I used my investment profits for utilising via CG account, saving the 10% I would have had to pay as taxes. This move not only saved me money but also helped me further invest. Keep Learning & Adapting I continuously educate myself about finance. Starting with bank savings, I moved to mutual funds, then stocks. I stay open to new investment avenues, ensuring my portfolio stays robust and grows. Today, I am happy to work. In fact, I use 70% of my income to handle all the household expenses. But now, my investments give me the freedom to do everything I love! I inculcate the same to my kids and ask them to manage their desires with the limited pocket money and think what is best to buy and which thing they should buy.” To read more about Geetika head on to the comments section! Geetika Bansal 40 Mumbai
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