'Don't keep your money in...': Before you turn 30, Bengaluru CA says you should know these 5 money rules

Turning 30 often comes with bigger financial responsibilities, but building good money habits should start much earlier. Bengaluru-based CA Meenal Goel recently took to social media to share five money rules she wishes she had known at 25. From checking your EPF contributions and keeping nominees updated to understanding deposit insurance and reading your salary slip, Goel highlighted simple financial checks that young earners may overlook but that can help prevent bigger problems later.

Don’t keep all your money in one bank

One of the financial rules Goel highlighted is to avoid keeping all your money in a single bank. She urged people to understand the Rs 5 lakh DICGC deposit insurance limit and plan their deposits accordingly. For young earners who are steadily building their savings, knowing how deposit insurance works can be an important part of managing their money.

Check your EPF every month

Goel also advised employees not to simply assume that their employer has deposited their EPF contribution. Instead, she recommended checking PF contributions regularly. Keeping an eye on the account can help employees verify that the expected contributions are actually being deposited.

Add nominees to your financial accounts

Another rule Goel wants young earners to follow is keeping nominations updated across their financial accounts. She advised adding nominees to bank accounts, fixed deposits, PF, insurance policies and demat accounts. While it may seem like a small administrative task, keeping nominations updated can make things easier for family members in the future.

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Get insurance while you are young and healthy

Goel also stressed the importance of getting term and health insurance early. According to her, insurance can become more difficult or expensive as circumstances change. Taking care of insurance needs while young and healthy can therefore be an important part of financial planning.

Read your salary slip, not just your bank credit

For Goel, understanding your salary means looking beyond the amount that reaches your bank account every month. She advised employees to read their salary slips and understand components such as Basic, CTC, PF, gratuity and deductions. Instead of focusing only on take-home pay, knowing how different salary components work can give employees a clearer picture of their overall compensation.

Goel summed up the importance of these habits by noting that they may seem like small things today, but ignoring them can create big problems later.