Here’s a point you should have in mind every payday, “Save for retirement. Start from today’s pay check.”
We always forget about financial security when we start earning. And end up saving what’s left after spending, instead of the other way around. But, when you start a savings habit, the benefits you can avail in the long-term are unrivaled as everything you save benefits from compounding. Putting a little aside also helps with what might pop up around the corner.
This is why it’s a good idea to put a small amount of money aside every month by doing an international money transfer to India each payday. Let’s take a look at some of the benefits…
Remitting money to India each month is another way of saving. You’ll build up a nice savings pot that will compound over time and help you get to the places you want to be and buy the things you would like to own.
By sending money online back to your home country you can start to build a protective layer of finance that will support you and should you ever lose your job or require emergency funds.
The most important things in life are family and love. And nothing is more important than going home to the family and eating good food and relaxing. It's all about quality of life and finding a happy balance between work and family. But, if you’re not in India right now, then?
You might not be around now, but regular remittance can fill that space. Always make sure you give your family the adequate support they need because it brings a kind of love, happiness, blessing, and satisfaction that fills the physical absence of you.
You don’t want to start a business though. In which case investing in other businesses may be more suitable for you. Everyone wants to earn passive income. Well, you’ll need the funds to invest first so time to start building that pot of gold.
When you send money online to India you can use these funds to start your own business. Remember, whilst our money does not go as far here in the UAE, back home it does. Dream of starting your own business one day? With regular remittances to India, you will start to build the start-up fund you need to get going.
By doing an international money transfer to India every month you will average out the exchange rate that you get. Some months it’ll be a little higher. Other months a little lower. Whereas if you send money online in big chunks you may be susceptible to an unfavorable exchange rate, doing smaller online money transfers every month averages out the exchange rates.
If you’re looking for a money transfer app, look no further than the digital bank that is Mashreq Neo. Now you can make online money transfers to India at your convenience in a few taps.
Disclaimer: This article has been prepared solely for information purposes. It does not constitute an investment advice, solicitation, offer or personal recommendation by Mashreq, or any of their related parties to buy or sell any securities, product, service or investment or to engage in or refrain from engaging in any transaction, particularly, in any jurisdiction where such an offer or solicitation would be illegal. Neither Mashreq nor any of their related parties warrant the accuracy of the information provided herein and views expressed in this article reflect the personal view which does not take into account of individual clients’ objectives, financial situations or needs. Investors are required to undertake their own assessment and seek appropriate financial, legal, tax and regulatory advice to determine whether such investment is appropriate for them in light of their experience, objectives, financial resources and other relevant circumstances. Neither Mashreq nor any of their related parties accept any liability whatsoever for any direct, indirect, consequential or other loss arising from this article and/or further communication in relation thereto. Mashreq do not accept any obligation to correct or update the information in this article.