Want to increase savings? Don't wait until month-end to invest what's left

Remove a portion of earnings at the start of the month from the salary account to an investment account to reduce chances of misspending


Not prepaying a loan and instead deploying the money in equities is also not advisable

Sanjay Kumar Singh
Sandeep Ganesh, who graduated from the Indian School of Business and now works for a leading management consultancy in Mumbai, admits that despite earning a handsome salary, he manages to save less than he would like to.
About 30 per cent of his net salary goes on account of his education loan, 30 per cent is spent on paying rent, and regular expenses take care of 10 per cent. Of the remaining 30 per cent, 20 per cent or more is spent on what he terms “lifestyle expenses”. So, in any given month, he saves 10 per cent or less.
Ganesh says two things are responsible for his generation’s inability to save adequately.

First Published: Oct 29 2019 | 11:38 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com