Common Lifestyle And Investing Errors Of Millennials
Source | www-outlookindia-com.cdn.ampproject.org
The primary pain point of the millennials with the education and corporate training set up in India is how it fails to enable them to manage their money or personal finances better. They rue the lack of awareness on lifestyle and investing errors generally made and how they can build a COVID relevant investment portfolio statement.
Saving money is more important than earning money, especially given the economic gloominess over the next 2-3 years.
The emphasis on effective money management is more important than ever now. The sharply shrinking economy (~25% GDP de-growth in the first quarter), regular job furloughs, and losses along with the mundane drudgery of corporate jobs make effective management of personal finances a top priority.
Effective money management is not about earning more but saving smartly and avoiding investing and lifestyle errors. With a major career trend, this decade being millennials looking to take multiple sabbaticals to pursue their passion, effective management of personal finances will become more important than ever.