Personal finance classroom for the millennial, S2: E3: How to invest your first salaries?

Small amounts -- as little as Rs 500 or Rs 1,000 -- invested every month in a disciplined way can become a huge pot of money later

July 16, 2020 / 08:44 AM IST

How to make your first crore? That’s what many of us would want to know. Young millennials who are fresh out of college or are into their first or second jobs have just found their financial independence. The urge to spend money is definitely there. To be able buy things you can now afford and for which you don’t have to keep running to your parents for pocket money gives you a sense of independence like none other. That is fine, but it’s also important to start investing. Your money journey begins now.

COVID-19 pandemic has taught us an important lesson: income and jobs are uncertain. One pandemic can wipe out industries, companies and so many jobs.

Welcome to Moneycontrol’s personal finance classroom. In episode 3 of Season 2, Moneycontrol’s social media editor Raksha Bihani and Moneycontrol’s personal finance editor, Kayezad E Adajania, delve into how millennials should make their first investment.

But the challenge in front of millennials is not about picking investments that multiply wealth. At this age, millennials ought to be managing their cash flows better. Small amounts -- as little as Rs 500 or Rs 1,000 -- invested every month in a disciplined way can become a huge pot of money later. Millennials also have one big advantage on their side: lots of time on their side. Watch this episode to know more.
Moneycontrol PF Team
first published: Jul 14, 2020 03:29 pm

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