WAYS TO IMPROVE YOUR INVESTOR PERSONALITY
1. Aggressive (Tiger)
· At the beginning of the month, keep aside a certain sum for saving.
· Limit your credit cards to one, go shopping with a list and stick to it.
· Consider your long-term need for any item before you buy it.
· Consider your long-term goals and returns before you invest.
2. Conservative (Squirrel)
· Keep 6 months’ expenses for emergencies and invest the remaining amount.
· Start by opening a recurring deposit in a bank or post office.
· Pick balanced equity mutual funds, which hedge the risk, but let your money grow.
3. Fickle (Cat)
· Make a list of your financial goals.
· If you are tempted to try a new investment, think if it will get you the money you need.
· Calculate the money you lose in a year to your skittishness, which can be a big deterrent.
4. Sluggish (Bear)
· Keep separate files for all your transactions – bank accounts, insurance plans, mutual funds.
· Spare one day at the start of a month to update these.
· Link your premium payments with ECS so that they are deducted automatically.
· Pay bills, etc. through net banking.