Consistently investing a fixed amount can help you accumulate wealth over time due to the power of compounding. Remember to review your investments periodically and adjust them as needed based on your financial goals and market conditions.
SIP offers disciplined investing, rupee cost averaging, and compounding benefits, making it a great choice for long-term wealth creation compared to other investment options.
Ensure that your loan EMIs do not exceed 30-40% of your monthly income. Try to pay off your loans early to reduce the total interest paid. Always read the terms and conditions of your loan agreement carefully before signing.