Index Fund Corner
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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Budgeting
One of the popular methods of keeping your expenses in check is budgeting – the process of planning your spending habits. CA Niresh Maheshwari, Director at Wealth Wisdom India Pvt Ltd, has recommended the 50/30/20 rule as a practical strategy that not only simplifies budgeting but also fosters a disciplined approach to financial health.
The 50:30:20 rule is a straightforward approach to budgeting, helping individuals balance their financial obligations while saving for the future. This method divides after-tax income into three categories: 50% for essential needs, 30% for discretionary wants, and 20% for savings and investments.
Also Read : The 50/30/20 rule for budgeting: Is this your key to financial discipline?
Tracking Expenses
Keeping track of every expense is essential to understanding your financial patterns. Whether it’s a daily or weekly review, categorizing your spending into fixed costs (like EMIs and rent) and variable expenses (such as shopping and dining out) will provide clarity, according to Viral Bhatt, Founder of Money Mantra.
Leveraging Technology
There are several apps available to streamline the process. “Use apps like Walnut, YNAB, or Mint to sync with your bank accounts and track expenses automatically. Additionally, setting up bill payment reminders on your phone can prevent late fees and missed payments,” Bhatt says.
Spending Limits
Setting clear spending limits is a key strategy to maintain financial discipline. It’s particularly useful for non-essential categories such as dining out, entertainment, or shopping. By defining a specific budget for these areas, you can curb impulsive purchases and stay within your overall financial plan.
Optimising Expenses
Looking for ways to reduce your regular outgoings can free up more funds for savings. Bhatt recommends comparing and reducing fixed costs. “Negotiate your rent, opt for energy-efficient appliances, or switch to a more affordable internet plan.” According to him, shopping smarter by looking for discounts, cashback offers, or loyalty programs also goes a long way.
Review and Reflect Monthly
Finally, it is also crucial to review your financial behaviour at the end of each month. Regularly analysing your budget and making adjustments will help you stay on track with your financial goals. With the right tools and strategies, you can take control of your finances and make smarter spending decisions that align with your long-term goals.
Also Read: NPCI extends 30% UPI volume cap deadline for third-party apps to Dec 2026
