Develop long-term financial plan
When you plan your savings you can make some good investments too, and you achieve your short-term as well as long-term goals easily be it buying a new property or planning the education of your kids in reputed schools or colleges. You may have to compromise with your needs and cut down your expenses to save enough for future but it helps you make some smart investments that provide you good returns since you save an adequate amount to invest in those schemes. It is important that you keep reviewing your progress to reach your long-term goals and modify your plans accordingly.
Keep a few options with you when you are planning to make heavy investments. Plan your budget, keep the amount that needs to be invested separate and do not forget to consider your regular expenses. Anything that seems doubtful must be checked twice to get rid of all the uncertainties.
Use professional advice before you invest in fixed deposits. Make a comparison between different schemes and choose carefully. Ask your banker for an emergency withdrawal in advance since you must keep yourself prepared to face an urgent situation too.