Six Smart Ways to Manage Your Money Better

Clara Snow has a lot of work all round the day. She is juggling her work regime and she promises that she sometimes feels like a joker herself. To top it off, Clara’s boyfriend is upset that she doesn’t devote enough time to their relation. Her parents too are a little concerned because she keeps asking them for money…

The fact is, Clara is concerned about her future. She has big dreams for herself and her life, but to make these dreams come true, she needs money. The way things are going, however, she isn’t going to have it for much longer.

Initially, she thought saving was enough. Then she realised that she was not making much by keeping her money in a traditional savings instruments, because Inflation was decreasing the value of the rupee itself!

She had tried investing in the stock market but without any knowledge or guidance, she ended up losing money. Plus, she made the mistake of withdrawing her investment when the market was down, rather than sticking it out and waiting to earn returns in the long run.

Sigh… If only she had someone amazing handling her investments, like a dedicated Mutual Fund Manager (FM) who wants nothing more than to make her rich, her life would have been awesome in these 6 ways:

A FM puts your money where it should be

Rather than you trying to watch the business channel and understand what the little green and red arrows mean, the fund manager does it for you: she is basically in charge of what stocks, bonds or other assets the fund will buy with the money that you and other investors have pooled in. By doing this, she seeks to assess the best use of your money so that you don’t have to!

A FM will give your investments a direction

There are various different types of Mutual Funds beyond just ‘Debt’ and ‘Equity’ and they can be used to achieve various different goals, for instance, growth, value, income, etc. The FM will help you build a financial portfolio that will accomplish these goals.

A FM manages risk for you

There is no denying that mutual funds come with various risks. However, as an investor, trying to understand exactly what they are or how to control them can lead to the risk of insanity. You may find yourself freaking out over a drop in prices or enjoying ‘ignorance is bliss’ in terms of crises. A FMwill help you manage this risk - both in terms of the individual stocks your fund is investing in, and larger-scale risk, that is born out of events taking place in the country or the world as a whole.

A FM plans for your future

Rather than just investing in a mutual fund to “make more money”, a FM can help you pick investments that may help you fund important life events, such as higher education, a world trip, the great Indian wedding, or even an Ivy League education for your child.

A FM lets you live in peace

Why do only 2% of Indians invest in the stock market? Because they feel that they can’t understand it and don’t have the time to change that! That’s where a fund manager can help. While you may be busy in your regular errands and might overlook something that can help you mint more money, your fund manager can be totally dedicated to this task. He may be the perfect judge to check out different options to help make you rich.

She’ll always be there for you

Sometimes, we get the shock of our lives when we put our money into something we thought was good; but it actually turns out to be a complete mess. The last thing we wants is that outrageous and non-trusting attitude from our parents. We don’t want them to go all “I told you so!” on us, do we? One of the best decision you can take is to invest in a mutual fund scheme whose fund manager will take vital decisions for you, even if you don’t know anything.

At Aditya Birla Sun Life Mutual Fund, we believe that one of the best part about having a Fund Manager is that by asking the right questions and depending on her; you can educate yourself and get smart about your money!

Mutual fund investments are subject to market risks, read all scheme related documents carefully.

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