5 Ways To Start Investing For Your Future | AU Small Finance Bank
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5 Ways In Which You Can Start Investing In Your Future

    Most of us work for hundreds of hours during a year to earn and to provide for the bread & butter of our family.Money is a huge motivator to work for ourselves and for a better life, but what good is it if your earned money, doesn’t work for you? Earning thousands & lacs is no good if you do not invest that hard earned money and move towards a stable life for yourself and your loved ones.

    We understand how important every financial decision is for you, so we bring to you 5 investment mantras you can always count on!

    1. Savings - Start Small & Build Big
    In our childhood, we were taught to save in gullaks/piggy banks. Remember how, after breaking the piggy bank, you felt like you were suddenly richer?
    Well, that was childhood, but even as adults, savings give the same happiness, adds stability and makes you self-sufficient. So this is the right time to start saving with a bank if you haven’t already.

    Why are savings important?

    • Maintaining a savings account is a smart choice. Your savings earn an interest rate per annum that makes your money grow.

    • It acts as an income

    • It provides immediate funds as & when required, through ATMs.

    • It helps in online transactions and fund transfers.

    • It keeps a check on your expenses and withdrawals by maintaining a passbook.


     

    2. Fixed Deposits - Plan your Future, Today

    What are your future plans? Retirement, owning your house, travelling abroad or higher education? Whatever your long-term goal is, fixed deposits will always be beneficial.
    Start planning for your long-term goals, today.


    Why Fixed Deposits are crucial as an investment move:

    • Fixed Deposit is a risk-free investment that assures zero risk and higher fixed returns.

    • If the tenure of fixed deposits is selected thoughtfully, it can also help achieve your short term goals.

    • An Overdraft or OD can also be taken against fixed deposits in case of insufficient funds in your account

    • It is a liquid investment; you can break your fixed deposits either partially or completely, when required.

    • Fixed Deposits also counter inflation by providing a real rate of return.

     

    3. Health Insurance - Your Health Partner for Life
    Today’s fast-moving lifestyle is increasingly becoming stressful resulting in major health conditions that affect your mind, heart and body as a whole.
    Rising health care costs may result in financial difficulty if you are not prepared. Have you considered protecting your family and yourself against these difficulties?

    An excellent way to hedge yourself during the need of the hour is to invest in health insurance:

    • Health Insurance is a crucial instrument that provides you and your loved ones with financial security.

    • There are other benefits such as tax benefits, cashless hospitalization etc.

    • By investing in health insurance, you get free preventive care like vaccines and medical check-ups.

    • When you face a medical emergency, it covers the cost of medical treatment.


     

    4. Life Insurance - Safeguarding your family & your Life
     

    No one knows what the future holds. Lots of people die prematurely every year from illness or accident. If you happen to be the sole bread-earner in the family and an unfortunate death takes place, it could have devastating consequences for your loved ones-their ability to pay household expenses, debts and maintain their standard of living.
    Primarily, anyone who has a family to support and is an income earner needs Life Insurance. In view of the economic value of their contribution to the family, housewives too, need life insurance cover. The least you can do, therefore, is to secure your family's financial future by investing in a life insurance policy.

    Life Insurance:

    • Ensures that one’s immediate family has some financial support in the event of one’s demise

    • finances one’s children’s education and other needs after the earner’s demise.

    • Acts as a savings plan for the future so that one has a constant source of income after retirement

    • Ensures that one has extra income when earnings are reduced due to serious illness or accident

    • Provides for other financial contingencies and lifestyle requirements

     

    5. Invest in yourself, your dreams and your goals


    Other than the aforementioned financial investments, the most important factor to invest in is you. Financial investments can be a help for your present and future but being consistent with these investments is equally important.
    Make a promise to yourself to be disciplined with these investments, focus on your goals and motivate yourself to achieve them!

    Make goals, strategize, plan and begin investing in the right direction for a secure and a better future. After all, if you start today, you can envision a better tomorrow and experience how your earned money would work for you in the coming future.
    Let’s move forward towards a happier, healthier and a more stable life!


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