CA KAMAL GARG

A penny saved is a penny earned, goes an age old expression that will hold relevance at all times. In order to grow wealth, you need to invest a portion of your income in high yielding investments.  Over time, that is your savings for meeting long term goals. Besides investing, you should be aware of the steps to save money in your day-to-day living and even while spending money. Every rupee saved and invested judiciously goes a long way in building wealth over the long term. As a beginner and even for others, there are three areas that you need to have a firm grip upon- spending , borrowing and investing .  Afterall, you will spend on essentials and utilities , take loans at some point of time and invest to meet life goals. Here are some ways to save and spend smartly so as to make every rupee work to your advantage. Start early: You need to start saving as early as possible in life. Even saving a smaller amount will not only build up a habit but also give you a headstart. The power