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Investment Tips You Could Learn from Your Mother

  • Highlights

  • Setting aside funds for saving

  • Distinguishing between needs and wants

  • Diversifying your investments

  • Researching well, before investing

Mothers are one of the most inspirational people, who play different roles in our lives. From cooking to financial advice, we learn some of the best life lessons from our mothers.

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Despite having no financial background, mothers give us some of the most invaluable investment advice throughout our lives. Let’s look at the priceless lessons passed on to us, by our mothers.

Here are some of the best investment tips we learnt from our mothers:

Save First, Spend Later

This is one advice we often receive from our moms, and she may have demonstrated it to you, by quoting examples time and again. When running the household, she manages several expenses, and yet she saves a part of the money. To do this, she charts a budget and sticks to it. She also avoids unnecessary purchases and splurges.

When you bring investment into this, the inference is pretty obvious. You need to add to your contingency fund before you can invest anything.

Additionally, it would be wise to avoid ruining your perfectly diversified portfolio, by investing in every new mutual fund or stock that comes along, just because you think you need it.

Additional Read: 5 Best Short-Term Investment Schemes To Make Money

Instead consider investing in fixed deposits, which ensure higher returns with stability.

Say ‘No’ When Necessary

Genius is knowing when to say, “No”.

This is particularly important in money matters. Your mom may have taught you to distinguish between your needs and wants, and taught you to say ‘No’ to your wants.

When you were a kid, she probably put her foot down and said no to that new toy that you wanted just because all your friends had it.

When investing, you need to learn to say no to those ‘hot new stocks’, that you want to get, just because they are the talk of the town. You need to analyse the risks and see if they fit into your portfolio before you invest in them.

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Do Your Homework Before You Play

This is probably one request, you may have heard several times.

The satisfaction that comes with following it, is unparalleled. It is essential to prioritise your duties and goals, so you can attain them.
In terms of investments, you should do your homework diligently before you start investing. You can compare the returns between fixed deposits, stocks, savings account and mutual funds. Consider revisiting your portfolio to ensure that it is diversified between stocks and bonds, before you start to invest in something new.

Additional Read: Should You Invest In Stock Market Or Fixed Deposits?

Don’t Give Up

Don’t give up on yourself, your dreams, and your investments. You need to look after your investments like you would, for your children. They may rise and fall, but you stick with them and don’t give up- especially with investment products like mutual funds. You need to invest in the true value of a product and not it’s ‘face value’. That is the key to investment success.

These pieces of investment advice can go a long way towards ensuring your investments yield maximum benefits.

DISCLAIMER: The mentioned fixed deposit interest rates are indicative only, and may be subject to change periodically. Please check the interest rates on our website.

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