Need finical tips

[Aizen164]

Hi , i am 20M from Gujarat , currently studying in MBBS , What should i am doing in my 20s & what not . Tell me which mistake i avoid & good habits implied on my self . What should you do if you are in 20s ?

 

[TaxWiser]

Hi , i am 20M from Gujarat , currently studying in MBBS , What should i am doing in my 20s & what not . Tell me which mistake i avoid & good habits implied on my self . What should you do if you are in 20s ?

To Do:

• Start tracking your spending.
• Evaluate your expenses every month and try to save as much as possible by compromising on some wants without hampering your needs.
• Use those savings to experience new things as much as possible.
• Invest some time in learning personal finance without cutting down on daily activities.
• Spend as much time as possible with your parents.

Not To Do:

• Stay away from Loans and EMIs.
• Steer clear of get-rich-quick schemes.
• Be aware of financial scams happening in our country.
• Never make decisions based on your emotions or FOMO.

After Getting your 2nd month Salary:

• Get a term life insurance and health insurance. Avoid ULIPs (Unit Linked Insurance Plans).
• Build an emergency fund of at least 9 months.
• After accomplishing this, start your investment journey according to your risk appetite and do your own research (DYOR).

Here are some YT channel recommendations that might add some value in your 20s:

• Labour Law Advisor
• Akshat Shrivastava
• Pranjal Kamra
• Sarthak Goswami
• Mohak Mangal
• Zero1 by Zerodha
• GT Plus
• Lapaas Voice
• Gen Z way
• Bekifaayati

Note: Never follow and trust anyone blindly except yourself

Enjoy and utilize your 20s to the fullest