My mistakes as turning 19...
make sure you don't do the same as me.
Self taught programmer
Alright, In a few week’s I would get to turn 19, and here are few things I would like to share about personal finance mostly unaware about when I was in my 15-16-17; that would if I have followed would help a lot during my schooling and college throw now, and now I would like to carry them with them. And if knew this I would have changed it’s, or done that at that moment. So now; let’s get into the actual session.
Having a reason for saving: Alway’s mentioning the reason for investing and setting targets for saving amount: And I’m referring to when I was 16-17 when my And this is very very very important as I have gone through this: the thing that happens to me is that I save money but done plan what next what to do with this money if completed the goal? Asking this question is really important and that is what I should do with this.
Not Budgeting: I suffer with it still now at 19 too, and here I got a lesson that that making wealth/ money filling the piggy bank till the nose at a point you will feel easier, As at a certain point I used to fill my piggy bank up to the nose, but I wasn’t able to handle or even I wasn’t able to track it so probably I lose them; So make sure you are making your spending rules properly, or if you aren’t able to make it make sure that you try to follow the principle of author Elizabeth Warren’s 503020 rule you can also customize according to your spending needs. Tooo…
Not getting the bank account Early: I open my banking account when I got into 11th class that’s in 2018 when I was 16, but here I made a mistake that I should do this away back when I had started saving as it would be must more good help full more me; and if you think that many banks don’t accept accountability for minor then; you are wrong the bank’s main focus is to attract more deposit if he minor they are interested bank like Kotak, Hdfc, especially SBI has these feature a minor can easily open an account with a bank with zerobalance;
Opening an rd account is much more similar to 3rd as if have an account then only you can try with RD; as we all know RD is Recurring deposit’s where we regularly deposit a fixed amount of money for a certain tenure of time; and I am pretty much aware that their interest rates are for RD are equal to null into the front of stock but if you don’t have Demat account even pan card or never invest in equity then starting would give a good kick start to that also it will give you would learn a lot from that;
So that’s all from the side, if someone ever asks me about what thinking that you did know in your teens’ our in school then I would tell him all about him so if you learn make sure that your sharing with your friends and family.
