look news india
Many times in life, people are not able to save money even after earning a good amount, while some people fill their bank account even with a small salary. This difference is due to financial planning. Some decisions related to money can bring a big change in your fate. Here are 5 such mantras that Generation Z should especially understand so that there is no tension about money in life.
Savings-
Many people have a habit of wasting whatever they earn. But Chanakya Niti also says that money is a person's greatest friend because it stays with him as a true companion in times of trouble. Therefore, every person must develop the habit of saving.
Investment
Whatever you earn, it can be increased only through investment. In today's time, there are many such schemes, which can convert your investment into capital. The financial rule says that every person should invest at least 20 percent of his income in any case. If you also invest 20 percent of your income every month, then you can become a millionaire in the coming time.
Job
People look for better jobs for better salary. But changing jobs frequently is also not good. This can spoil your profile. While changing jobs, you should consider things like job location, profile, tax impact, facilities and flexibility, only then take a decision.
Loan
In today's time, there are facilities like credit cards. Youngsters use them without thinking and sometimes unnecessarily increase the burden on themselves. So promise yourself that you will use the credit card according to your situation. Apart from this, many types of loans are given in banks nowadays. You will take any kind of loan only when it is very necessary. Apart from this, you will not borrow from anyone.
ITR
Filing is an important responsibility that every individual must fulfill within the stipulated time limit. Late filing will cost you a penalty. So pledge to file ITR on time.
