Have you been on the fence about starting your investing journey? Or maybe you do not see the merit in starting your investment journey in your 20s. You think you can put it off till later, because, what’s even the point if you can’t reap the benefits now? Well, we have a really exciting story of a Deciml investor for you that perfectly illustrates why you need to put these questions and confusions out of your mind and start making those smart investments right away.
One of our young investors, let’s call her E, started a new job at her dream company a couple months back, and was just entering that exciting independent phase of life. Being a smart, young Zoomer, she was immediately interested in how she can start to shell out some of her salary and save money and was looking to understand how she can get a jump start on building her financial portfolio.
After scouting her best options a bit, she became a Deciml investor and started her investment journey.
E made it a point to not only round up her spends with Deciml, but also started using the Deciml Daily Deposits feature to start investing ₹100 per day. Think about it – just ₹100 a day! That’s like a quick scooter refuel, or a takeaway coffee.
A seemingly small amount, but it resulted in E getting to take a fun vacation –
₹100 per day, resulted in a weekly deposit of ₹700 (she’s on a great trajectory – looking to invest over ₹36,000 this year alone!). This ₹700 appreciated at a rate of 10% with the Deciml App, and she leveraged our services to continue her investments for a few months. The result? A self-funded, fun-filled, independent trip to Goa with her friends after a few months of hard work and a keen inclination toward investing! How cool is that?
Pro Tip – The next time you are having trouble getting your parents on board for taking a trip with friends, it might help to let them know you will be funding this vacation all by yourself using your small investments which were actually smart investments!
Just because you are young does not necessarily mean you need to rely on your parents when you are just starting out. If you make sure you save money every month and start making smart investments, you will also find yourself making more money than you thought possible! E was not only able to plan this exciting trip with her friends using her investments, but we also hear she’s in fact saving up to take her Mom on a mini vacation soon too!
So what exactly did E do, to turn her ₹700 into a robust vacation fund?
1. She made sure that the very minute she started earning, she started learning. She started learning about what investment and savings options are available to her. She took stock of her finances by herself and made sure she wasn’t frivolously spending it all. If you are a young investor, we urge you to understand your spending patterns and your income. It is important to know how much money is coming in, and then decide how much you want to spend, save, and invest.
2. She did not let herself think that any amount is too small. For E, ₹100 per day was a realistic and manageable investment amount. If you think you need to invest a little less, to begin with – that’s perfectly fine too! Whether it is ₹10 or ₹1000 that you are investing in a day is irrelevant to your overall investment journey. Learn from E – No amount is too small!
3. She was consistent. She established an investment budget for herself and made sure to invest at least ₹700 per week through Daily Deposits and Round Ups alone (you can also make lump sum deposits if needed!). If we were to identify one thing that propelled E’s successful investment journey – it would be consistency. Once you have decided to make regular investments, and you have budgeted an amount to invest every day (or week, or month, or year!) – stick to it! Being diligent with your money (read: investing) is what will ultimately make it grow.
We are always excited for our investors, whether they are just starting out with their financial portfolios or are veterans in the matter. But E’s story is an important one for our young millennial and zoomer users.
It’s no secret that we’re a group that prefers experiences over material goods (unless of course, the material goods in question is an iPhone 13 pro max!). But here’s the thing, most experiences (like E’s Goa vacation) too cost money.
As 20-something investors who have time on their side and fewer responsibilities to shoulder – investing right now and right away will show an impactful and significant growth. Let your money grow with you!