Starting is really tough, when you finally realise you have started late on the saving and investing game, hence are worth currently less than what you would have liked and what would have made you comfortable financially.
The first step is to know where you stand! Just list down, how much you earn, what you spend, how much you have saved, your liabilities- your emis, credit cards, etc and finally your investments like PPF, mutual funds, stocks, etc. This should give you a clear picture of what is your financial worth.
Now can you just figure out, are there ways where you can increase your income? Asking for a hike, job switch, an additional side gig? A simple tax saving investment could also give your income level a boost.
Note, the strict, regular savings and investment path which you have started will start making sense and make you feel worth doing it at least after 6-12 months. The first months will not make you feel good trust me, it’s only post a year or two, when you will be glad that you did it.
Lastly, be careful and list down your online purchases, we unknowingly make a good amount of purchases and reduce our saving capacity. Because it’s so easy to buy with just a few clicks we actually do buy many things which we do not need and eventually do not use – paid waste! Get down and put it in a piece of paper or and excel sheet- your income, investments, spending numbers, time to get deep in it to visualise where you stand.
