For many young couples, saving and investing are two things that are often relegated to a later date.
The excuses vary; "There are so many things that we need to buy right now", "We are both earning very little" or "We will start saving and investing when we grow older." But these excuses fly in the face of financial logic. You should start saving and investing the moment you get your first paycheck. You don’t need to start with huge amounts of money.
Since people earn different amounts, let us work with percentages. You can decide to be saving 10 per cent, invest another 10 per cent and use 40 per cent for rent, shopping, fare or fuel. You will still be left with an impressive 40 per cent. Remember, my assumption here is that both husband and wife are working.
SAVING DISCIPLINE
Several options exist for saving and investing. Apart from the ordinary savings account, you can open a fixed deposit account. If you discipline yourself to be putting money into this account every month, you will be surprised at how fast it grows.