by CharuMalik on Oct 3, 2022
1177 members
1362 posts
Your partner in filling that Financial Journal
I am new professional!!! just got my new and first job three days back. Working on building my financial confidence and independence. It's a journey, but I'm determined to take control of my finances. Anyone else on a similar journey? if yes give me tips
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411d
・answered 411 days ago
Here's a structured approach to starting your investment journey: Track your cashflows: Monitor your income and expenses for a month to understand your spending habits. Create a budget: Based on your tracked expenses, establish a budget to allocate your income efficiently. Build an emergency fund: Set aside funds to cover at least 3-6 months of living expenses in case of unexpected financial challenges. Secure health insurance: Purchase health insurance to safeguard yourself and your dependents from medical expenses. Consider both group and individual policies. Start investing: Begin with mutual funds through SIP (Systematic Investment Plan) for consistent wealth building. Start small and gradually increase your investment over time. Transitioning from learning to earning years is crucial, and joining communities like @Financially Smart can provide valuable insights and support throughout your financial journey.
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