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[dudette]

There is always a first time for everything so also for investing. To invest you need capital free of any obligation. If you are not in the habit of saving sufficient amount every month, then you are not ready for investing. Our advice is :-

 Save to atleast 4-5 months of your monthly income for emergencies. Do not invest from savings made for this   purpose. Hold them in a liquid state and do not lock it up against any liability or in term deposits.

 Save atleast 30-35 per cent of your monthly income. Stick to this practice and try to increase your savings.

 Avoid unnecessary or lavish expenses as they add up to your savings. A dinner at Copper Chimney can always   be avoided, the pleasures of avoiding it will be far greater if the amount is saved and invested.

 Try gifting a bundle of share certificates to yourself on your marriage anniversary or your hubby’s birthday   instead of spending your money on a lavish holiday package.

 Clear all your high interest debts first out of the savings that you make. Credit card debts (revolving credits)   and loans from pawnbrokers typically carry interest rates of between 24-36% annually. It is foolish to pay off   debt by trying to first make money for that cause out of gambling or investing in stocks with whatever little   money you hold. Infact its prudent to clear a portion of the debt with whatever amounts you have.

 Retirement benefits is an ideal savings tool. Never opt out of retirement benefits in place of a consolidated pay   cheque. You are then missing out on a substantial employer contribution into the fund.