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How to Start SIP and how this works for you?

    What is SIP?

If you are already investing or want to start investing now then you must have heard the name of SIP. You will often hear this term in various promotional media such as business news channels, business news papers and advertisements related to insurance or mutual funds. SIP means Systematic Investment Plan. In this, you invest continuously every month or at a fixed time according to you.

  How to start investing with SIP? 

First of all, you have to be disciplined and invest regularly according to your goal every month or at your favorable time. First of all, determine what percentage of your monthly income you can invest without any tension. You can start SIP for any target like your marriage, children's marriage or your retirement plan. Remember one more thing that saving is always done by cutting your stomach and strict financial discipline or in simple words you can save some money every month by cutting down on your non-essential expenses and keep that money through regular SIP. Can aim at the fulfillment of a far-reaching goal.
You can start SIPs through many mediums like Mutual Funds, Stock Market, Gold ETFs with high returns but some high risk financial tools. If your target is short term then you can opt for some low risk and relatively few low return tools like monthly or daily deposit in the bank, insurance policy etc. You can start your investment in any of these financial tools and if you have opted for monthly investment then this amount will be automatically deducted from your bank account through ECS on the due date and will be added to the invested amount. All you need to do is keep enough money in your bank account so that your SIP amount is deducted through ECS. You can activate it at the very beginning and you will be free from paying the SIP amount every month on your own. If you have enough knowledge t you can invest in monthly or daily deposits of bank or stock market on your own without any help through SIP but for that you will need strict financial management.

How to start SIP

     How SIP works?

The biggest advantage of SIP is that you can start it with any monthly amount and you do not have to deposit a huge amount all at once for any of your big goals. Suppose today your daughter is 5 years old and you are thinking that at the age of 25 you will marry her. And after twenty years from today in marriage, you have to spend 20 lakhs for this marriage, so according to this, you still have 20 years time and if you think without any return, then you will get one lakh rupees every year for this. need to deposite. If you have the special grace of Lakshmi ji and you can withdraw this entire amount at once, then it is a good thing, but the time does not always remain the same, it should always be kept in mind. Your timing may remain the same or change today, but your goal cannot change, that is, you have to marry your daughter, that is, you cannot deny the need for SIP.
Suppose you have started SIP in mutual fund or stock market and you have to deposit 3000/- monthly amount and your NAV (Net Asset Value) of that financial instrument i.e. rate of one unit is Rs 20 on that day then 150 in your account. Units will get accumulated and if the stock market goes down a bit and your units come down to Rs.18 at the time of your next monthly SIP, you will get 166.67 units instead of monthly SIP of 3000/- and if the market goes up and your SIP is down. 22 at the time of your third sip, then you will get 136.36 units. For your information, let me tell you that the Indian stock market, which started with the Sensex 1000 points on July 25, 1990, has covered a distance of 61000 points in its 31 year tenure and the Indian economy is the fastest growing economy in the world and Minor ups and downs come and go and if your goal is long term then you will surely make very good profits as compared to other financial tools.
How to Start Sip
Regular investment and increasing market value of your unit will easily meet your long term goal and in return I will give you daily or some unnecessary expenses like shopping without meaning, extravagant partying with friends or kitty. Party or any expensive hobby which is harmful to health can be alcohol, cigarette etc. or any other thing, just to keep some distance from them. This will not put any kind of financial pressure on you at all and you will easily fulfill your goals. Nevertheless, you are advised to consult a financial advisor you know before making any financial investment.