Build a Solid Emergency Fund
Save 3–6 months of living expenses in liquid instruments (savings account or mutual fund) to cushion financial shocks.
Set & Categorize Financial Goals
Define short, medium, and long-term goals (vacation, education, retirement), creating tailored plans and timelines for each.
Create & Follow a Balanced Budget
Use the 50/30/20 rule: needs, wants, and savings/debt repayment, and track all income and expenses diligently.
Prioritize Debt Repayment Strategically
Focus on eliminating high-interest debt first; consolidate loans where possible, and avoid taking unnecessary new liabilities.
Invest Systematically via SIPs
Start small SIPs in mutual funds monthly, equity for long-term, hybrid for mid-term, to steadily build wealth