Tips to help you manage money as a Young Adult

1. Higher Education

• Look for scholarships to fund your education
• Find out about education loans from a bank and apply for one that suits you best
• Pick courses that have good job prospects

2. Emergency Fund

• Save at least 10% of your
• income from part-time jobs
• for emergencies 

3. Job relocation

If you move to a new city for work, you can save money by

• Using public transport
• Living in shared rented rooms
• Cook your own meals
• Plan your home visits in advance to save on tickets

Tips to help you manage money mid in 30s to mid 40s

1. Life and Medical Insurance

• Buy a medical insurance before you turn 30 to save on premium
• Get low-cost and beneficial government schemes like PMJJBY and PMSBY
• Buy a term insurance to protect your family from any unforseen events 

2. Child’s Education

• Start planning for the child’s future needs in advance
• Buy insurance and Invest in child funds to build wealth

Tips to help you manage money before retirement

Planning for Retirement

• Invest in health insurance
• Buy pension plans to get a regular income during retirement
• Make use of government schemes

Tips to help you manage money during retirement

1. Social Obligations

• Plan ahead for festivals and other functions
• Allot money for social obligations and make adjustments to your budget in advance
• Keep exchange of gifts and cash during social events to the minimum
• Reuse gifts instead of buying new ones

2. Retirement

• Invest in government schemes for medical and term insurance
• Apply for government pension scheme to cover daily expenses

3. Medical Needs

• Use government dispensaries and pharmacies to get cheaper medicines
• Get regular health check-ups at government hospitals to avoid sudden medical issues

4. Travel and Pilgrimage

• Travel in groups and share expenses
• Stay in free or cheap accommodation like dharamshalas