I’ll make it easy for you! 👉
1️⃣First, learn the Numbers – Know how much money you earn, spend, and save each month. Track your monthly financial liquidity and highlight areas where you can reduce expenditures to increase savings.
📌RULE – At least 20% of your revenue should go towards savings and investments. This means you can start investing with 20k-40k per month.
2️⃣Passive & Active Investing – Invest in things that grow your money without needing much effort. How? – With that 20k-40k, you can diversify your capital investment mix with a mix of passive (e.g., index funds, mutual funds) and active investments (e.g., equities, real estate). Passive investments will provide stable returns while active investments offer potential for higher expansion.
📌RULE – Start with Index funds. Explore other categories of mutual funds as you get comfortable with your investments.
3️⃣Calculate Your RISKS – Figure out how much uncertainty you’re comfortable with. If you’re investing for the long term, you might be okay with taking more risks for higher potential rewards. For short-term needs, stick to safer options.
📌RULE – Diversify your investments to balance uncertainty. Use (100-age) thumb-rule to identify how much to invest in equities and how much in safer options. You can also use online uncertainty assessment tools offered by capital platforms.
4️⃣Pick ONE ASSET CLASS at a Time – Start with a single asset class (e.g., equities, real estate) & build expertise before diversifying further. Monitor performance and adjust strategies based on sector conditions and personal goals.
📌RULE – It’s always good to begin with mutual funds or index funds to gain exposure to equities.
5️⃣Stay Consistent and Rebalance – It won’t happen overnight or in just a couple of years. Being consistent in investing isn’t easy, but if you can do it by avoiding emotional or hasty decisions, you’ll be closer to becoming a financially empowered couple. Review your finances annually.
🤷♂️If you have any doubts regarding money planning as a couple or want to ask anything, leave your question in the comments.
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