Remember, everyone makes mistakes, everyone has those stormy days! As with anything else in life - the same holds true with money. Besides, it’s what we learn from our mistakes that count. Doesn’t mean it doesn’t hurt though! Amirite fam? 😉

Here’s a quick refresher in case you’ve been finding yourself second-guessing your money moves, of late.

1️⃣ Money on the run? 💸

If you feel like over-spending has become a bit of a situation recently, here’s how you can address it! Now don’t expect to tackle the problem all at once. Baby steps is the name of the game. We at Basis, repeat this mantra because it’s absolutely golden - start small, win big! ✌️

When you say you’re gonna cut back on your spending - actually mean it. Paste a sticky note on your mirror every morning while you brush your teeth, ask an accountability buddy to help you out whenever you feel the need to swipe that card 💳, transfer a majority of your money at the beginning of the month to your investments or a savings account, or set spending limits on your Power Card. Start with tiny improvements and you’ll hit the big leagues in no time.

2️⃣ Living paycheck to paycheck? 🚫

A large part of our parents' lives (the boomers) was dedicatedly ‘making ends meet’. And often that meant living paycheck to paycheck. But times have changed! And so should we. Because not only is this heavily exhausting, but it also takes you backward more than forward in your money game.

Which is why - you need a plan of action if you’re busy counting pennies and making last minute transfers between accounts. Especially if those are to take care of your basic needs - like costs for food, healthcare, and even that gym membership - to keep you fit, both physically and mentally.

Start off by keeping 10% of your paycheck aside every month. (Obvs up this amount as you see yourself progress.) Mutual funds are a great option to begin with. Move 🆙 to stocks, bonds, and when you’ve gotten all the practice you need, turn it up a notch.

Trust us, in no time at all - you’ll no longer be anxiously waiting for your salary to be credited at the end of the month.

3️⃣ No retirement-fund to retire to? 👵

Ah retirement! Seems like a long way off right? Wrong!! Life is funny in how time moves both fast and slow. You may not earn a lot of money as you begin your career, but there’s one thing you have more off than older folks - time. ⌛ With time on your side, saving for retirement becomes a more pleasant and substantially exciting prospect. Think of your dream house or the countless hard-earned vacays you can take! That should be motivation enough! Besides, you defo don’t want to be old and running around to get your funds in order - for the funnest part of your life.

Take a look at these stats if you’re still on the fence. https://www.instagram.com/p/ChWZ8iQv5X3/

4️⃣ A not-so-balanced investment portfolio?

Life is all about balance ⚖️ and so is your portfolio. You need to maintain a healthy distribution of investments across different asset classes. Putting that in simpler terms - a little in the stock market, a bit in mutual funds, and of course a percentage to diversify and invest in something that you’ve been dying to explore - perhaps crypto? Of course, understand what you’re investing in, and what the risks are - take the plunge only when you’re comfortable. Here’s an interesting chat between Hena Mehta, our founder and Lavanya Mohan, on how to achieve your best balancing act yet.

Check out IG Live chat here!

But let’s not forget the biggie. Have big dreams of building wealth, seeing the world, fulfilling your bucket list? That’s amazing! We feel ya’ baby! But, reality-is-tough reminder - without healthcare in place, you’re leaving things to chance. And some chances are best not taken. Remember, the younger you are, the better your premium. So, scuttle along and get that coverage NOW! 💁

To wrap things up ✍🏻

The most important thing is that you take the first step - and that you take it asap. Everyone kicks themselves every now and then about not making better financial choices. You aren’t alone! Besides - we’re always here to help out.