While it is important not to keep stacking your money in a savings account, it is not important not to indulge in risky investment plans. You must start saving with smaller amounts and try to save more as you go along.

To start with, you must seek the advice of a good financial planner or choose low-risk plans. Remember, slow and steady wins the race!

11. Don't forget the dates, plans

Most people are very bad at remembering dates of maturity of their fixed deposits, or savings schemes or dates of paying premium. Make sure you keep a diary of all the saving plans, their maturity dates and remember to either reinvest the money or go ahead with any plan that you have in mind when the plan matures.

All the papers must be safely kept in either a bank locker or any safe place. You must also keep a photocopy of all the important papers incase you lose the original will be useful