Payit, in collaboration with the Indian Women in Dubai (IWD), successfully organized the third “Real HERoes” event session. The event was a sincere and enlightening gathering that honored women as genuine heroes and sought to empower them on their path to financial independence.
The three panelists, Dr. Nishi Singh – Consultant Virologist and Infection Control, Conceive Gynecologist & Fertility Hospital; Devina Mehra – Chairperson and Managing Director, First Global, and Deepa Sachanandani – Deputy Head Research, Century Financial who shed light on the crucial topic easiest way to invest your money.
Here’s a gist of the panel discussion and their valuable insights.
The easiest way to save money for investment beginners is to start small. It’s not about the amount you save but the saving consistency that matters. The event emphasized the power of regularly setting aside a portion of your income. Even a tiny percentage of your earnings can add up over time.
Planning for retirement may seem like a far-off concern, but it’s never too early to begin. Early planning is crucial for ensuring long-term financial stability. Starting to save for retirement early enables significant growth through compound interest, even with small contributions. If retirement planning appears daunting, consider consulting a financial consultant who can advise you to create an investment strategy that is customized to your investment needs.
Diversification is a crucial principle of successful investing, helping to manage risk and potentially increase returns.
Investing involves some risk, but calculated risks can lead to higher potential returns. Understand your risk tolerance, which is your ability and willingness to withstand market fluctuations. Consider your risk tolerance level and decide which investment strategy would suit you the best – aggressive or moderate. Conduct thorough research and utilize educational resources before investing. Being informed about your investment choices can help you make more calculated decisions.
You must use technology (mobile apps) to make your investments smarter. Here’s how you can leverage technology for efficient financial management:
Understanding your financial inflows and outflows is essential. Create a budget that helps you allocate some of your income for savings and investments. Stick to your budget to ensure you consistently save money.
Payit is, a digital wallet app that allows you to make bill payments, receive money, make affordable international transfers, top-up mobile balances, and send e-gift vouchers. See how to manage your daily payments more efficiently while enjoying exclusive offers and discounts.
Download the Payit digital wallet app and obtain your Letsgo Payit Card to make payments more efficiently.