While everyone around is highly concerned about making some good money in no time, no one is talking about making savings and doing some good investments.Talk about kids, adults or even old people, everyone is a apart of rat race around regarding making big money without going high on efforts. Reza Irani, one of the most renowned financial experts around, claims the same fact while emphasizing on higher savings and investment in the process.
As Per Reza Irani, savings and investment are two of the easiest ways to multiple your money in good time and he further quotes down the following points in the same regards.
- Multiply Your Savings
Inflation around is never going to stop and you yourself need to prepare for the coming times. As per Reza Irani, you must not think of going blindly towards the stocks or the markets around and instead watch your savings grow in other options. Think about some low cost mutual fund which can distribute your money to some of the growing forms and institutions around. This way, while your money is growing on one side, you are not going completely mad or crazy whilst watching them around in stocks. Select the mutual fund wisely and invest the amount your can afford to keep the risk factor alongside.
- Make Provisions for Future
It’s always been said that “if you won’t stop spending on the things you don’t want, you may have to sell the things you want in future”. Same goes true for life which comes with all the uncertainties around. As per Reza Irani, one must save for the future and also create an emergency fund in order to deal with any kind of medical or financial emergencies coming over. This way, you not only keep a specific amount aside, but also avoid the coming risk of any unwanted situation. Try to save some amount very month and keep it in your account without any usage and you would simply thank yourself for the same in future.
- Cut Down on Your Luxuries
It’s not bad to spend on luxuries until you can afford them. Still, it’s not always required that you are splashing the money blindly without any specific use, This would eventually take you to a situation where you may struggle for even the basic needs around. As per Reza irani, if you want to secure your future, you have to try making some restrictions in your current spending.