Axis Money IQ Knowledge Nugget - 197
Axis Mutual Fund
A responsible investor needs a responsible partner. And we're here to walk with you in your responsible journey.
A financial survival guide for parents struggling to keep up
Parenthood brings a lot of happiness and responsibilities. As the little munchkin grows, we want to give them the best, perhaps everything that we didn’t have in our childhood-the best school, branded toys and accessories, higher education (most likely in a foreign university) and want them to have a flourishing career ahead. Plus, we want to accomplish our other life goals like buying a new home, going on a dream holiday, a new car, and more.
Given the exorbitant cost of living, the road to fulfilling all our goals (including the little ones) is not easy unless planned well. Thankfully, the process is simple and can help reduce expenses, if begun early.
Here’s a step-by-step financial survival guide to help you:
Prioritize your goals: Aside from your child’s education, list down your other goals in order of your priorities. Strike a balance between needs and wants. Maintain a spreadsheet for your monthly expenses. Keep a check on your spending.
Bifurcate your expenses into essential and non-essential expenses. See if it is possible to restrict some of the non-essential expenses.
For more nuggets around mutual funds, do visit Axis Money IQ
Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trust Act 1882, sponsored by Axis Bank Ltd. (liability restricted to ₹1 Lakh). Trustee: Axis Mutual Fund Trustee Ltd. Investment Manager: Axis Asset Management Co. Ltd. (the AMC) Risk Factors: Axis Bank Ltd. Is not liable or responsible for any loss or shortfall resulting from the operation of the scheme.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.