Sachin Karpe Advices on How Much Percentage of Income Should Be Saved Every Month

Saving money is the wisest thing to do. It not only depicts a good sense of finance but also hints towards the value of money. Saving money has its own advantages and it needs to be adopted everyone, quips Sachin Karpe. You need not be a financial guru to do it but, it should come inherently. Mostly driven by the thought of what when the inflow of money stops? Do I have enough money for contingency or regular expenses? So, it is ideal to save some amount monthly. Say, a 30 percent of your monthly income. One must follow a ground rule of saving first and then spending. It does not take much effort. Create a separate bank account and deposit the 30 percent in it. That way your money will increase also with the help of interest accrued. At the end, when you find yourself in some unforeseen circumstance, you will feel better to have a back-up ready and, probably pat your back for the wise decision you made, says Sachin Karpe while encouraging people to save money.