5 tricks to plan your investment as per your goals
May 30, 2020
When the question is about investing, there is a lot that you have to plan. Your investment can either be short term or long term, but nonetheless it requires planning.
But before investing, you have to ask yourself, what is the required sum for your goals? You can either opt for investing a lump sum amount or a small amount every month, it all depends on how you plan it. Setting goals is a great way to turn your vision into a reality and with smart planning for your investments, you can achieve the same. In this article, we will talk about 5 ways to plan your investment as per your goals.
1) What is your end goal
Before any investment plan, you should determine your end goal. What's the investment for? A car, house, education and so on. You should also check if your goals are short term or long term. For example - If a house costs Rs 80 lakh today, after 10 years it will cost you, even more, depending on the percentage of inflation. Once you've got that right, you can seek out a good investment plan ahead. Don't put all your eggs in one basket, but invest in different plans and maximise your growth.
2) Stop spending often
There are times when you want to splurge on unnecessary items. These lifestyle choices determine your financial goals for the future. The most important thing to remember is that to reach your goals you must have a smart investment laid out and if you do not have control over your expenditures, you will not reach your goals. Focussing on the big picture is a great start for any investor. In the millennial age, individuals often go for high-end gadgets, vacations or take loans for personal needs. The best path would be to concrete your savings and with ICICI Bank Insta Save Account, you not only invest the right way but also get exciting offers with your account. Insta Save Account holders can now keep track of your income, spends and savings using the Discover feature in iMobile. Existing ICICI Bank Savings Account customers can use below link to view this feature.
Android users: click here
iPhone users: click here
3) Invest in Fixed Deposits
Fixed Deposits are a smart way to get assured returns over your investment and to save their hard earned money for a rainy day. Fixed Deposits have a lot of benefits and offer great stability, your returns are assured with no risk, there is no interruption with the market fluctuation and your capital investment is always safe.
With just a few clicks, you can easily open an ICICI Bank Insta Save Account and avail of many features. You can also open a Fixed Deposit of minimum Rs 10,000 for 12 months and enjoy the dual benefits of zero balance account and FD investment packed into one. There is a variety of tenures for Fixed Deposits and the interest rates are optimised to give you great returns. It’s a great way to keep your money and safe guard your future.The link to invest in FD Online for existing ICICI Bank Account holders is given below.
Android users: Click Here
iPhone users: Click Here
New Customers can click here to open Insta Save FD Account instantly online and invest in FD.
4) Track every progress
Once you have laid out the foundation of investing, the next step is to always track your progress. Use online tools or the old fashioned spreadsheets to track down your progress. Don't just invest and forget, keeping a track of your investment is a great way to stay on the right path and accomplish your goals.Keep track of your funds and investments using iMobile and Money Coach platform.
5) Know when to exit
Be it a long term or a short term investment, once you develop the habit of tracking your progress, you will know when your goals approach closer. You can either opt to reinvest or exit. With ICICI Bank Insta Save Account, you can easily track the progress of your investments and experience 24x7 banking using the best mobile banking app in India, iMobile*.
While there are plenty of investment options in the market, you should always assess your goals. Be it a long term or short term investment, in order for your money to grow, you have to invest wisely. With the Insta Save Account, you can unlock many benefits in your account.Opening your account online takes less than 5 minutes! Don't hesitate for any investment, but do your research first and reach your goals systematically.
*As per ‘The Forrester Banking Wave: Indian Mobile Apps, Q2 2018 report.
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