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You work hard for your money, so why shouldn’t it work hard for you

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You work hard for your money, so why shouldn’t it work hard for you

You wouldn’t expect to go to work and give a poor performance, so why do you put up with lackluster effort from your money?

Not knowing how to grow their wealth is what hinders most  people. In fact, 55% of Indian respondents in our global Emerging Affluent Survey believe that they are held back by their lack of financial knowledge – despite having the money to invest.

Here are five tips to make the most of your money:

Don’t just save – invest

Don’t just save

It’s not enough just to save your money. To grow your wealth you have to invest. Although investments go through ups and downs, they can be potentially more rewarding over the longer term, beating the rate of inflation. Equities typically outperform other asset classes as their long-term returns are primarily driven by rising corporate earnings.

Know about our investment solutions

Don’t put all your eggs in one basket – diversify

Don’t put all your eggs in one basket

Because not all asset classes perform consistently across time, diversifying across asset classes helps reduce volatility, balancing risk and returns. If one investment performs poorly over a certain period, other investments may perform better over the same time, reducing potential losses.

If you prefer not to bother with choosing which asset classes or markets to invest in, invest in mutual funds that are already diversified across asset classes.

Don’t just invest once – make it a habit

Don’t just invest once make It a habit

Develop the habit of investing regularly by automating your investments. One way to achieve this is through a Systematic Investment Plan, where you can automatically transfer funds from your savings account and invest in selected funds every month. You will also enjoy the benefit of rupee r-cost averaging, which rides out the highs and lows of the market.

Know about our Systematic investment plans

Don’t cry when the market is down – seize the opportunity

Don’t cry when the market Is down seize the opportunity

A market correction refers to a price decline of at least 10%. Not only are market corrections normal, they can create some of the best opportunities to increase the potential for returns and minimize the potential for losses by making stocks cheaper relative to their earnings potential.

Don’t think ignorance is bliss – invest in financial education

Don’t think ignorance Is bliss

Investment for many people is a bit like writing a will, they know they have to do it but find it difficult to address the need or make the commitment to doing it.

If you do not have the time nor the patience to dig deep into the details, you can learn the basics e.g. What is a mutual fund? What does diversification mean? Supplement it with expert insights and assistance from a trusted financial partner

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Disclaimer

This article is brought to you by Standard Chartered Bank India.. All information provided is for informational purposes only and is not intended to be construed as advice or an offer for any product or service. Standard Chartered is not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

Standard Chartered Bank does not provide any investment advisory services under the wealth proposition. Standard Chartered Bank in its capacity of a distributor of mutual funds or while referring any other third party financial products may offer advice which is incidental to its activity of distribution/referral. Standard Chartered Bank will not be charging any fee/consideration for such advice and such advice should not be construed as ‘Investment Advice’ as defined in the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 or otherwise. Mutual Fund Investments are subject to market risk. Read scheme related documents carefully prior to investing. Past performance of the sponsor / AMC / Mutual Fund does not indicate the future performance of the scheme(s). All products are subject to suitability and availability.