A comprehensive guide of financial tips: Do not fall in DEBT Traps- Do you get tempted to take a personal loan to buy a phone or go for vacation? This is called DEBT Trap. If you want to buy something, try to save first. Don’t just buy because it is on EMI. Understand the difference between asset and liability: Having a car is not an asset. It consumes fuel and has a maintenance cost. Though a car is required, but make sure you invest more on things that generate income for you rather than things that cost you more. Plan your financial goals: When do you plan to buy a car? When do you want to go on a Europe tour? Plan your financial goals as this will help you save money and invest in right platforms. A short-term financial goal like buying a car should be invested in the debt instrument. Long-Term financial goals like retirement should have more exposure to equity. A medium-term financial goal like Europe trip should have a balance of both equity and debt. An emergency fund is a must