๐๐ž๐ฑ๐ญ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐ฒ๐ž๐š๐ซ ๐…๐˜25 ๐ข๐ฌ ๐ง๐ž๐š๐ซ, ๐š๐ง๐ ๐ฌ๐จ ๐ฐ๐ข๐ฅ๐ฅ ๐›๐ž ๐’๐š๐ฅ๐š๐ซ๐ฒ I๐ง๐œ๐ซ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ & ๐๐จ๐ง๐ฎ๐ฌ

Receiving an increment or bonus is definitely satisfying, however itโ€™s essential to make prudent decisions on how to utilize these additional funds.

So w๐ก๐š๐ญ ๐œ๐จ๐ฎ๐ฅ๐ ๐›๐ž ๐ฒ๐จ๐ฎ๐ซ ๐Ÿ๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐ฉ๐ฅ๐š๐ง ?

๐Ÿ“Œ Do ๐‹๐ฎ๐ฆ๐ฉ๐ฌ๐ฎ๐ฆ ๐ข๐ง๐ฏ๐ž๐ฌ๐ญ๐ข๐ง๐  into your existing portfolio / goals. This will help in accelerating your corpus & reach the goal faster.

๐Ÿ“Œ ๐ƒ๐ž๐›๐ญ ๐‘๐ž๐ฉ๐š๐ฒ๐ฆ๐ž๐ง๐ญ - Prioritise in repaying your high interest loans โ€“ education, car or home loan. This helps in reducing the interest costs & get rid of liabilities faster.

๐Ÿ“Œ Increase your ๐„๐ฆ๐ž๐ซ๐ ๐ž๐ง๐œ๐ฒ ๐…๐ฎ๐ง๐ to cover 3 to 6 months of living expenses. Park this in any liquid or short term safe debt.

๐Ÿ“Œ ๐’๐ญ๐ž๐ฉ ๐ฎ๐ฉ ๐ฒ๐จ๐ฎ๐ซ ๐’๐ˆ๐ ๐ข๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ๐ฌ. This is very important for your long term growth and achieving the financial goals quicker. If you got a 10% hike, you should step up your SIP by at least 10%.

๐Ÿ“Œ You should definitely invest in ๐ฎ๐ฉ๐ ๐ซ๐š๐๐ข๐ง๐  ๐ฒ๐จ๐ฎ๐ซ ๐ฅ๐ข๐Ÿ๐ž๐ฌ๐ญ๐ฒ๐ฅ๐ž. But always exercise prudent spending rather than short term gratification.

๐Ž๐ง๐ž ๐ญ๐ข๐ฉ ๐ฐ๐ก๐ข๐œ๐ก ๐ฒ๐จ๐ฎ ๐ฌ๐ก๐จ๐ฎ๐ฅ๐ ๐š๐ฅ๐ฐ๐š๐ฒ๐ฌ ๐ค๐ž๐ž๐ฉ ๐ข๐ง ๐ฆ๐ข๐ง๐, ๐ฐ๐ข๐ญ๐ก ๐ข๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐ฌ๐š๐ฅ๐š๐ซ๐ข๐ž๐ฌ & ๐š๐ ๐ž, ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฏ๐ข๐ง๐ ๐ฌ ๐ซ๐š๐ญ๐ž ๐ฌ๐ก๐จ๐ฎ๐ฅ๐ ๐š๐ฅ๐ฌ๐จ ๐ข๐ง๐œ๐ซ๐ž๐š๐ฌ๐ž.

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