How to save money during Tough Times?
Investment Sharing: Some people will put their entire investment in the stock market, while others will put their money in more stable investments. Others buy gold and keep it in their possession. A maximum of 10% of one's total investment can be in gold. The basic guideline is that you should invest in the stock market in proportion to your age. It's wrong not not invest, and it's also wrong to put all of your money in one place. It is preferable to invest independently in all types of investments, such as gold, the stock market, mutual funds, and fixed deposits.
Excessive Debts: Borrowing excessively is not a mistake. It's also true that you can't buy a property without taking out a mortgage. However, they must be aware of their limits and purchase. We must know how long our income will endure and how much we will be able to repay. Debt should not exceed 40% of net income typically available on hand. This range should apply to all loans, including home and car loans. However, if you have strong credit, you might be able to get exactly what you want.
Credit Card: Using a credit card isn't necessarily a bad thing. However, it is dependent on who and how it is used. If this is done incorrectly, it might cause a slew of issues. A number of issues, like paying off credit card debt with another card and paying only the minimum amount, can compound problems. Furthermore, several hazards will persist, including late payment, interest, and the CIBIL account issue.