The financial decisions that you make in your 20s take you a long way. Most of the people in their 20s tend to spend most of their salaries on short-term pleasures like traveling frequently to exotic destinations, going out to fancy restaurants every week and buying clothes they don’t need- and most of it is just to look ‘cool’ on social media. I came across a Twitter thread for advice on financial matters which you should stick with, if you want to build a solid foundation for later years.
Savings, Savings, Savings…
Find the right tools to invest
There are more instruments than Fixed Deposits
Stay away from credit cards
Take Life Insurance but don’t think of it as an investment
Do not fall for loans
The best investment tool there is
Best to invest in a term insurance plan earlier
Invest in a health insurance plan
Be minimalistic with your purchases
Don’t take the bait of equity investment before gaining some knowledge
Think before you lend to friends and family
Twitter Thread Courtesy- twitter.com/AbhishekPonia/
