20s is probably the most critical age of your life. Most people at that age start their first job and get their first hard earned money into their hands. But unfortunately most use only one thing for 20s, to spend it and live the fashion without any planning. They get to buy expensive phones, go to parties, use credit card without thinking about it and get into a financial mess which they have to face in their 30s.
20s mein apnaayi jaane wali pehli do sabse majboot habits:
Habit 1 : ‘Pay Yourself First’ Aur Automated Investment : When salary or any income comes, immediately invest 20% to 30% of that as your future savings and investments. Instead of saving whatever remaining after your expenses, always do investment first and spend whatever remaining within your current month budget. Set Auto-debit SIP (Systematic Investment Plan) that automatically transfers 1st or 5th of each month the money whatever you transfer to your Nifty 50 Index Funds or Equity Mutual Funds. This way your investment habit will continue without any nagging.
Rule 2: Dodge the trap of high-interest debt and credit card. In your 20s, always avoid the trap of the minimum amount trap on personal loans, bad debts and credit card. Never take loan for impulse shopping. Use your credit card only when you have cash on hand to make a full payment. Keep in mind that the first rule to become rich in your 30s is to have zero bad debt.
20s mein aapka 20s yeh taye karta hai ki aapka 30s kaisa hone wala hai. Agar aap 20s mein paise se judi hue sahi aadein (financial habits) apnamate hain to 30s aate aate aap na sirf financially strong aur dabdaba ban chuke hote hain, balki aap kise bhi tarah ke money stress ya job lock-in de azaad ho jaate hain. Samay aapke liye sabse bada asset hai, aur 20s mein hi aap ke paas compounding ka sabse bada saadhan hai. Aage ke parts mein hum aapko aisi 5 aadein ke bare mein jaan chahte hain jo aapko 30s mein tension free bana dengi.
Financially strong banne ke agle do zaroori step:
Habit 3: Establish a Robust Emergency Fund: No one knows when the doom and gloom scenarios (job layoffs, healthcare emergency, emergency repairs) will strike. At least, keep away 6 month worth of essential expenses( rents, food, bills) in a High-Yield Savings Account or Liquid Mutual Funds from your 20s. This fund enables to take risky career decisions in 30s without any worry about money.
Habit 4, Grow your Income Scale and Build your Side Hustle. Earning more than you spend still won‘t make anyone rich, your earning level has to grow as well. During 20s, learn some highgrowth new age skills (digital marketing, coding, content creation, financial analysis). Starting 1 small side payor least passive income stream (dividend stocks, digital products, freelancing) instead of depending on only 1 single job salary, can automatically multiply your wealth creation speed by 2X, and eliminate job ‘security’ threat.
30s mein ameer aur tension-free banne ki final habit aur summary:
Habit no 5: Control your lifestyle inflation: As your earnings increase in 20s, your standard of living should not increase proportionally. When your salary increases, increase your SIP or investments rather than increasing expense on a more expensive phone or car. Loading your status symbol on the outside not that effective than growing your net worth silently inside.
Final Action Plan for 20s:
Stick with the 50/30/20 budget rule from the first machine.
Health Insurance and Term Life Insurance zaroor lein tapki aapki savings aapki protection main rahein.
Har waqt seeknewale banke apka dimaag aur is karaykardgiap k bde assethein.
If you diligently follow these 5 things in your 20s, in your 30s you will have a substantial corpus for your retirement, zero loan tension and live your life the way you like!
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