{"id":1882,"date":"2018-09-07T01:24:24","date_gmt":"2018-09-07T01:24:24","guid":{"rendered":"http:\/\/blog.kuvera.in\/?p=1882"},"modified":"2019-06-10T09:27:41","modified_gmt":"2019-06-10T09:27:41","slug":"4-financial-to-dos-for-the-yolo-generation","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/4-financial-to-dos-for-the-yolo-generation\/","title":{"rendered":"4 Financial To-Do\u2019s for the YOLO generation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69f2fd7c38a45\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69f2fd7c38a45\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/4-financial-to-dos-for-the-yolo-generation\/#To_EMI_or_not_to_EMI_that_is_the_question\" title=\"To EMI or not to EMI, that is the question\">To EMI or not to EMI, that is the question<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/4-financial-to-dos-for-the-yolo-generation\/#Save_before_you_Spend\" title=\"Save before you Spend\">Save before you Spend<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/4-financial-to-dos-for-the-yolo-generation\/#Beware_the_Credit_cards\" title=\"Beware the Credit cards\">Beware the Credit cards<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/4-financial-to-dos-for-the-yolo-generation\/#Put_your_money_to_work\" title=\"Put your money to work\">Put your money to work<\/a><\/li><\/ul><\/nav><\/div>\n<p>Millennials. We are the YOLO (You Live Only Once) generation. We live our lives to the fullest; we take one day at a time. We\u2019re wild, young, and free, and widely criticised for our way of life, and our way with money.<\/p>\n<blockquote><p><em><strong>\u201cThe fault, dear Brutus, is not in our stars, but with ourselves that we do not invest.\u201d<\/strong><\/em><\/p><\/blockquote>\n<p>Our generation tends to spend money we don\u2019t have, racking up huge debt and credit card bills on the way. But we are much better than our predecessors in some ways \u2013 as a generation, we are more aware and informed about our lives, our rights, and our money. The fact that we are aware of the existence of mutual funds, insurance and equity investments is a point in our favour. The \u2018investment advice\u2019 we receive from well-meaning elders who tell us to put all our money into FDs is long outdated, and it\u2019s time we decided to pave our own financial future.<\/p>\n<h5><span class=\"ez-toc-section\" id=\"To_EMI_or_not_to_EMI_that_is_the_question\"><\/span><u>To EMI or not to EMI, that is the question<\/u><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>There was a time when you couldn\u2019t afford something, you couldn\u2019t buy it. EMIs changed all that when they allowed us to buy things we could not have otherwise bought, though easy instalments. EMIs are great when it comes to home loans, which offer good tax benefits. But accumulating too many EMIs is dangerous, as they not only hinder our liquidity but affect our overall credit score if we default on a single one. A good rule of thumb is to make sure your EMIs are less than 30% of your net income.<\/p>\n<h5><span class=\"ez-toc-section\" id=\"Save_before_you_Spend\"><\/span><u>Save before you Spend<\/u><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>The dreaded b-word \u2013 Budget. We shudder at the very thought. But to be responsible with our money, it is essential to put aside some money towards savings, preferably the very day we receive our salary. The remaining amount can be used for our monthly expenses. Having a separate bank account for your savings and expenses ensure that we can\u2019t cheat and accidentally-on-purpose splurge on an expensive outing.<\/p>\n<h5><span class=\"ez-toc-section\" id=\"Beware_the_Credit_cards\"><\/span><u>Beware the Credit cards<\/u><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>Credit cards are like the beautiful sirens of lore \u2013 they entice us with easy money and lure us to the rocky shores of credit death. By exercising restraint and staying within our means, we can sail towards a happy financial future. <em>Never<\/em> rack up credit card debt in your early twenties which can ruin your credit score for the rest of your life.<\/p>\n<h5><span class=\"ez-toc-section\" id=\"Put_your_money_to_work\"><\/span><u>Put your money to work<\/u><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>Having our money sitting idle is not a good idea. It\u2019s time we listen to all the financial Gurus and make our money work for us. Setting aside around 6 month\u2019s salary for an emergency, invest your money into a mutual fund of your choice. Channel your investments towards specific time-bound goals and bring structure to your investments. Your goals are more attainable when you plan them well in advance. Identify your financial goals and track them over the course of time. Every rupee invested brings your goals closer to reality.<\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article was initially published by <\/em><em>CNBCTV18 <\/em><em> in the <strong>Personal Finance <\/strong>section. <\/em><\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit <a href=\"https:\/\/www.kuvera.in\"><strong>kuvera.in<\/strong><\/a> to discover <a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\"><strong>Direct Plans<\/strong><\/a> and <a href=\"https:\/\/kuvera.in\/user\/login\"><strong>start investing today.<\/strong><\/a><\/p>\n<p>#MutualFundSahiHai, #KuveraSabseSahiHai!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Millennials. We are the YOLO (You Live Only Once) generation. We live our lives to the fullest; we take one day at a time. We\u2019re wild, young, and free, and widely criticised for our way of life, and our way with money. \u201cThe fault, dear Brutus, is not in our stars, but with ourselves that [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/4-financial-to-dos-for-the-yolo-generation\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":1884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[91],"tags":[157,24,96],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>4 Financial To-Do\u2019s for the YOLO generation - Kuvera<\/title>\n<meta name=\"description\" content=\"4 Financial To-Do\u2019s for the YOLO generation. Manage EMi, credit and most importantly is never too early to start investing. 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