Reasons why you need to be best friends with your money
Friendship is a special bond that goes beyond jokes, crazy moments, and silly pranks. Life is full of up and downs, and while everyone shares moments of happiness, only true friends stick around during our hard times. That’s the kind of friend money can be, and here’s why.
- A true companion in good as well as bad times
Just like a good friend, properly managed finances will not only help you fulfill your dreams but will also protect you during a crisis. You can build such corpus from investing in mutual funds such as liquid funds. When the market is at high, a good mutual fund scheme will get you high returns, and in case of market crisis, your investments will be protected by controlling the losses.
- The money will always have your back
A true friend is one we can trust and know they will have our back when the time comes. Similarly, your savings can take over the situation when you need it the most and save you from any future debts or financial crisis.
- Helping without any grudges and expectations
It may happen when you want a distance and a break from a friendship during certain situations. And a good friend will respect your space without holding any grudge. Much like a great friend, your savings through mutual funds will also let you move onto different schemes to fulfill different financial goals. That too, without asking any questions or without holding any grudges. So you can save more and fulfill your dreams while saving for the future.
How to bond over a reliable and long-term friendship with your finances?
Be it planning a trip abroad, buying a house or a car, or in difficult times like health urgency or financial crisis right investments done at the right time always have our back. Here’s how you can invest in mutual funds and bond over your faithful friend – your savings.
- Identify your financial goals
Whether you’re planning a trip abroad or saving for child’s future, decide on your short, mid-term, and long-term goals. So you can be sure of how much you want to invest and for how long.
- Understand different mutual funds schemes
Mutual funds offer various plans such as liquid funds, small and large-cap equity funds. Understand which schemes are better for your goals and risk appetite.
- Invest as per your goals
Analyze the performance and returns on investment before investing in mutual funds. Mutual funds in India such as Reliance Mutual Funds offer wide variety of funds to meet various short term & long term goals.
This Friendship Day, while you celebrate the moments, and cherish the memories with your old friends; start a new friendship with your savings through mutual funds. Choose your schemes wisely and it will protect you for many years ahead.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.