It is very well said that ‘ your habits decide your future ‘. It is always your commitment to your work that determines your success. Good financial habits lead to improving wealth. A disciplined person will always grow his wealth multiple times while someone who is not financially disciplined will lose it all. Financial habits augment the outcomes of such smart work efforts,” said Saurav Ghosh, Co-founder, Jiraaf. The best investment you can make is the time it takes to understand your spending patterns and how they align with your life goals.

Investment is the key –
One should start investing the considering all the factors because investment is not about the only accumulation of huge money to start with but you can start investing with the lowest nt. You may invest even as low as Rs 500 regularly. However, the more you save, the more you may invest to create more money. So when it comes to building wealth you need to save money by spending within your earning limits. o not go beyond the budget that is decided and start curtailing your spending. Having proper discipline over spendings leads to more savings. You need to have good financial habits or inculcate them.

Keeping a track of expenses –
Having a proper schedule of all the expenses is a very good habit one must have. Managing your money is a very essential thing where the very first step one should go for is noting down all your expenditures, so that you may go through them and detect the unnecessary ones and make efforts to minimize such spending. The more you can find out the unnecessary spending and able to manage it, the higher will be your savings and investments and the greater will be your wealth creation.

How much to save and how much to spend?
People usually tend to save whatever is left after spending on their needs but they have to take care that determining how much you need to save is very important to achieve your financial goals. Making a proper plan is important so that the right efforts are taken to achieve the target. Smart people decide how much is logical to save every month and spend the rest on their needs,” said Ghosh.

Learn from others –
We have great examples of many investors which include “The greatest investor of all times Warren Buffet . Also Azim Premji, the founder of Wipro. They have both displayed great financial habits despite being multi-billionaires,” he added. “The age-old concept of never keeping all apples in one basket is the greatest financial advice that one can get. Any investor aiming to build a fortune has to incrementally invest in different avenues,” said Ghosh.

Selecting Right Investment is a must –
Choosing only gold or real estate stocks is not necessary but one should go with all of them with the n right proportions. Also, Saving is important to start your investment journey, but not enough to create wealth. You need to start investing early and select the right investment ways through proper diversification to reach your financial goals on time. These are some of the important financial habits which will help you improve your wealth.

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