Posts

My Thoughts about Money management & Investment- First ever post on Steem LEO

avatar of @alokkumar121
25
@alokkumar121
·
0 views
·
3 min read

Hello Everyone

I wish you all a very happy new year 2020.

Today is the first day of the year and its the first time I am writing a post using https://steemleo.com platform and I liked the UI (user interface) very much.

I used to think that this could be a website just like another tribe but I have to mention that its way ahead and there are many functionalities that are very much user-friendly. As we know that STEEM LEO is a tribe platform to share posts about finances and investment and I am pretty good in this and most of the things I learned from my father. I never discussed my finances and investments on the steem platform now with SteemLeo I am going to share my thoughts about it as well.

img src

My father is very good in investment as he keeps on investing money regularly in various safe instruments like Fixed Deposits, Recurring deposits, Endowment insurance plans, etc and he has been doing for over 40-45 years. I grew up watching him doing it and the same investment habit I also have however with the time I have gone a level ahead. Investment is important in life mutiple the money we have and its also required to keep the money aside for our big plans.

Why Investment is required?

Everyone wants to do something big in life and for that, we need a big amount of money which is not easy for everyone unless there is any lottery or have good financial support. Its a way to multiply the money we have through various instruments and it could be safe deposits by govt or banks and even with cryptocurrencies too. Warren Buffet is the world's biggest investor and he says that investment is as important and everyone should adopt this habit to accumulate and multiply the money however be careful while choosing the one before investing money.

src

Money Management

This is something that everyone should do. Money management is important to spend money wisely and avoid overspending. There is saying that " One penny saved is one penny earned" which means if you are not saving the amount from your income then you are not earning.

Saving Concept

Its a good habit to save money for the future or for any financial need that may arise all of sudden. In India, a bigger chunk of people believe in it and they follow the same. It should be like to save money from earning and invest it wisely to multiply.

My Investmenr Strategy

As I mentioned above that I learnt investment from my father but since I believe in technology so I have gone ahead it and chose crypto for my investment. I keep my investment diversify so I have invested in crypto along with some risk-free insurance plans and even some mutual funds etc. I even talked about all these things with my father but he was not okay to invest in crypto as dont know much about it. He said that invest only on the things that you are well aware of and I think he is right. I discussed many things about blockchain and crypto but it was not easy as he is not familiar with tehcnology however I will keep on discussing with him and hope I will be able to convince him to add crypto in his investment portfolio.

I also put some money on some company stocks and holding for longer term which would be few years. I am a long term investor and I avoid short term because I think its not easy to manage while on the other hand long term investments dont require much time quite frequently. I just need to review once in few months to track the growth up or down.

This is my first ever post on steemleo.com platform and tagging @leo.voter to check out

I will continue to use this platform for sharing my thoughts about money, finances and investment etc.

I am also making @ph-fund beneciary of this post and supporting @project.hope which is founded by @crypto.piotr

Thank you so much.

Have a fantastic New Year 2020

Posted via Steemleo | A Decentralized Community for Investors