MoneyMint India

                                               Young person planning to avoid money mistakes in their 20s Introduction Your 20s are the best time to build wealth — but also the easiest time to mess it up. Most people don’t realize the cost of financial mistakes until they’re deep in debt or lost years of potential savings. Let’s look at the 5 most common money mistakes Indians make in their 20s — and how you can avoid them. 1. Not Starting to Save Early The biggest mistake is thinking “I’ll start saving later.” Even saving ₹500/month from age 22 vs age 30 makes a ₹10–15 lakh difference over 20 years due to compound interest. Fix: Start now. Even if it’s just ₹100/day. 2. Living Entirely on EMIs Buying phones, bikes, and gadgets on EMI gives short-term joy — but long-term stress. Fix: Use EMIs only for assets (e.g., education, gold, ho...

                 Compound interest chart showing investment growth over time Introduction Ever heard the quote, “Compound interest is the eighth wonder of the world”? It’s not just a finance buzzword — it’s the secret behind long-term wealth. In this post, we’ll break down what compound interest is , how it works in India, and how even small investments can grow into something big. 1. What is Compound Interest? Compound interest means you earn interest on your principal + previous interest . Your money earns money — and that money earns more money over time. 2. Compound Interest Formula A = P(1 + r/n)ⁿᵗ Where: A = Total amount P = Principal amount r = Interest rate n = Compounding frequency t = Time (in years) Don’t worry — you don’t need to remember the math. You need to understand the concept . 3. Real-Life Example Suppose you invest ₹1,000/month in a SIP for 10 years at 12% interest. Simple Interest:...

                                     Emergency fund savings jar for financial safety in India Introduction Most people don’t think about emergencies until they hit — a medical bill, job loss, or urgent travel. That’s when having an emergency fund becomes your financial shield. In this post, you’ll learn: Why emergency funds are essential How much you really need How to build one even with a low income 1. What Is an Emergency Fund? An emergency fund is a savings buffer kept separately for financial emergencies — not for shopping, weddings, or investments. It protects you from taking loans, swiping credit cards, or borrowing money when life throws surprises. 2. Why You Need One in India Sudden medical emergencies Job loss or delayed salary Family responsibilities Urgent home or travel needs Without a fund, you’ll fall into debt. 3. How Much Em...

                 Budget planning sheet for saving money in India Introduction Budgeting isn’t about restricting yourself. It’s about giving your money a purpose. The problem is — most people make budgets they can’t follow. In this post, you’ll learn how to create a practical budget that works for Indian income levels, including salaried professionals and students. 1. Track Your Real Expenses for 30 Days Before creating any budget, first observe your spending . Use a diary, Google Sheet, or an app like Walnut or Money Manager. Categorize every expense: rent, food, recharge, travel, shopping, etc. “What gets measured gets managed.” 2. Choose a Budgeting Method That Fits You ✅ Modified 50-30-20 Rule (for Indians) 50% Needs – rent, groceries, utilities 30% Wants – shopping, dining out 20% Savings – SIPs, emergency fund Can’t afford 20% savings? Start with 10% and build up . 3. Automate Key Expenses Set auto-p...

                                                                                   7 Money Habits to Build Wealth Slowly in India Introduction Wealth doesn’t happen overnight. It’s built slowly through consistent, smart habits — especially when you’re in your 20s and 30s. In this post, you’ll discover 7 simple yet powerful money habits that can help you save more, spend less, and build lasting financial security in India. 1. Save Before You Spend Don’t wait to see what’s left at the end of the month. As soon as your salary comes in, move a fixed amount to your savings account or SIP. Automate this — and it becomes a powerful habit. 2. Track Every Rupee Write it down. Use apps like Walnut, Goodbudget, or a simple Google Sheet. W...

  Introduction SIP (Systematic Investment Plan) has become a go-to method for Indians to invest regularly, but now there's a twist: Bitcoin SIPs are gaining popularity alongside traditional Mutual Fund SIPs . So which is better in 2025? Should you invest in the tried-and-tested mutual funds or explore the high-risk, high-reward world of Bitcoin? Let’s compare both and help you decide what’s right for you. 1. What is a Mutual Fund SIP? A Mutual Fund SIP lets you invest a fixed amount regularly in a selected mutual fund. It’s ideal for: Long-term wealth creation Compounding returns Rupee cost averaging (buying more when prices are low) You can start with as little as ₹500/month. 2. What is a Bitcoin SIP? Bitcoin SIP is a similar concept — you invest a fixed amount (₹100 or more) regularly in Bitcoin. Many platforms like CoinDCX , BitBNS , and ZebPay now offer Bitcoin SIPs. Bitcoin SIPs help reduce volatility by spreading your investment over time. 3. Return...