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The actual lesson of spending money starts from the early age itself. Often parents teach kids to collect coins in piggy banks so that they start understanding the actual worth of money. Family members often nurture habits of saving and investments by adding and subtracting coins.

In almost every family, parents gift piggy banks to foster habits of spending pennies on things such as toys, chocolates, and gifts. As life moves forward and an adult start earning, parents often suggest spending on a good investment plan. They teach to invest some amount of their first earning on a good investment policy.

Parents are actually responsible for creating a good environment for making investments. When an adult starts investing right with his first salary, he develops a good habit to keep investing a lifetime. This habit soon becomes a part of life that provides benefits in the later stages of life.

Life And Investment Goals Must Run Hand In Hand

When it is about investment planning, it is important to understand a basic chart

Investment is based on three factors:

  • Age
  • Income bracket
  • Requirements

There are certain basic criteria to start investment. This is based on factors like right age and right earning. When an individual attains a particular age or when he starts earning his first salary, this is the right time when he should start spending some amount as an investment. This is a general criterion that often gets missed. Sometimes individuals wish to invest when they reach old age then they need to plan their budget rigorously to invest income to the investment plan.

There is a certain age when an individual must start planning their investment. A young individual does not have the responsibility of the family or any expenses to be spent on health expenses and thus this is a perfect age when he can plan to invest in the best investment scheme. As and when one misses this time soon responsibilities start knocking on the door. In the middle ages, one needs to spend money on rentals, car payments, credit card bills, etc. It is hard to start investing at this stage and often individuals ignore the necessity of investment.

It is hard to set a balance for lifestyle changes and Investment planning at this stage. Once an individual already set a habit of saving some amount from income for saving and investment, this habit continues to stay with the individual, and they continue to spend for investment. This helps him in managing bills and expenses accordingly.  Once planning is done properly, an individual can wisely decide which plan to select from different types of investments choices.

  1. How Does Outlook Affect The Investment Plan?

Another major factor that affects the Investment plan is one’s personal outlook. Some may give priority to family planning and others may plan to spend a golden retirement with perfect finance planned right at a young age. This outlook makes them earn and spend accordingly.

The expectation, lifestyle, and outlook towards their life can actually affect investment planning. Often educated people spend more on investment to spend good life in the later stage of life. Many believe that they can continue to spend their life as they are spending now and thus do not feel a need of spending any amount for investment. All this is based on the outlook of an individual.

2. How Does Income Affect Investment Plans?

Income is another crucial factor that can change the plan in which an individual invests into. In some families, there is only one earning member that needs to manage funds for the basic requirements of the family. In another family, there can be two earning members and thus such families have a subsequent amount for a better investment.

Depending upon the total income earned by the family, one can plan a good investment plan. One must only choose the best investment scheme based on the earnings they have. It is also important to remember that as soon as an individual starts earning, he also needs to pay taxes. One must choose a plan that could also help get a tax rebate. Whatsoever is one’s income, one must at least spend some amount for investment.

3. How Much To Invest?

This is a common question that an individual needs to ask, before spending on an investment plan. This is based on different factors such as age, income, and outlook. The right stage to start an investment is when an individual starts earning but it is never too late to start an investment.





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