Here’s how you can achieve financial freedom

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Every penny counts when it comes to the goal of achieving financial freedom. Money9 Helpline hosted FinFix founder Prablin Bajpayee to help you understand an easy way to save and increase money.

Edited excerpts

Priyanshi: I am 24 years old and have just started my career. Though I have invested in cryptocurrency, I want to invest in mutual funds. I can afford to invest Rs 3000 per month, to begin with. Kindly suggest a mutual fund for long-term investment.

Bajpai: First when you start your career, your kit should be ready. That kit is an emergency fund. You have to create a buffer of around Rs 50,000 to Rs 1 lakh. The buffer fund can be built from anywhere, maybe you have received some bonus or maybe parents have gifted some amount. It is important to have a buffer fund. Around one year of expenses should be covered in that fund. After that, you can resume with investments. About cryptocurrencies it is the riskiest of the investments, it can be considered but it should be not your first preference. If you are starting with Rs 3,000 you can split into three funds, one index fund, Rs 1000 in the US market, and Flexi cap.

Watch the full video to know more…