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The rules to get your financial act together are:

  • EARN and maximize your earnings
  • SAVE up for ‘just in case’ situations
  • INVEST by getting your money to work for you

#1. EARN: Apart from your regular job you can always make some extra cash on the side. Here are 4 great ways to earn besides doing your job:


  1. Freelancing: If you’re creative and want to get paid for it then freelancing is the best way to do just that. You can log onto websites like  elance.com , odesk.com or freelancer.com to get working on a project you’re interested in. Once you build a network,  clients will recognize you for your work and approach you themselves.
  2. Invest in some other small business: If you’re someone who’s kicked about starting a business but just can’t find the time for it, then become a silent partner with a friend or relative who you trust and believe in their idea. You can invest some capital with them and give your inputs and suggestions and share profits accordingly.
  3. Convert your hobby into something more: If you like cooking or painting or graphic designing and want to monetize it, it’s possible now. You don’t even need to get a shop for making it happen, with social media it’s possible to just display your talent online.
  4. Rent it out: If you have a spare room or even a house rent it out. That’s not all you can also rent your clothes nowadays. To know more such hacks for making cash read our article on Ways To Make Money Online.

#2. SAVE: Saving means putting aside some amount of cash and forgetting about it completely. Only when you’re in desperate need for it you should use it. It’s advisable to save at least 20% of your income or ‘take home salary’ or some say save 100 minus your age. So if you’re in your 20’s save 80%, in your 30’s save 60% and spend the amount that is your age. Whatever percentage you decide to save remember that you should first save and then spend and not vice-versa. 



#3. INVEST: You’d assume saving is pretty much investing right? No, it’s slightly different. You save money for short term needs or emergencies. You could save it in a bank or even in hard cash. But you invest to make more money out of the money invested. It’s more long term. You can either invest 10%-15% from the money already saved or you can invest 10%-15% further from your income. But remember first save then invest. 


Because saving is the money needed for investing. We save for ‘just in case’ situations (and sometimes for treating ourselves like going on a trip) but we invest for making our money work for us when we retire and need the money that time. 

#4. REPEAT: After you do the drill once, it doesn’t stop there, you’ve got to repeat it. And that’s how you’ll be able to live a good life once you retire. 



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