• Basis

The Power of Starting Small

“A journey of a thousand miles begins with a single step” - Chinese proverb

When was the last time you wanted to achieve a goal, but backed out because of how large and daunting it seemed? How often do you tell yourself “I’ll start this later” - only to realise it’s been several weeks, months and years since you’d been meaning to start on something? Inertia is real. Procrastination is something we’ve all done. We’re with you, sister.

Today, we’re talking about the super simple, but super powerful concept of baby steps.

🔨Break. It. Down. Easier said than done - but easier to do than we think it is! Really. Looking to get to ₹1Cr as your retirement corpus? Let’s break it down. Assuming your retirement is 25 years away, you need to set aside about ₹15k a month as an SIP. Yes, you read that right. The ₹1Cr doesn’t seem so daunting anymore now, does it? (PS - we’ve assumed a reasonable rate of return of 10% for the above calculation) 📑Learning about money is boring… … but you can start small. And that’s why we’ve built much-loved Knowledge Boosters on the Basis app. Chalk out just 15 minutes a week (yes that’s less than one Friends episode you’ve been binge watching and rewatching since the start of the pandemic 😛) and you’ll see how your knowledge compounds - not to mention how genuinely curious you will start getting about things like index funds, life insurance, SIPs, budgeting, credit cards and more 🤓

🧟Starting to invest is SO hard (a) Tell yourself it’s not (because it’s not). And (b) start with tiny amounts. As tiny as ₹500. Preeetttyy doable, we’d say. You can automate these tiny investments through a wonderful tool called an SIP, and see your money - and your confidence - compound over time. As you get more comfortable, increase these amounts, and your portfolio will start building itself. 🐷Saving money is… just not happening Chances are you have heard your parents tell you to save save save from the day you start earning. Which is great advice, of course. But it’s not that easy, especially with prices of everyday things skyrocketing 🚀 (and our salaries not keeping up). Our tip here is to start small - of course. SIP your way through before expenses for the month hit your hard-earned moolah. And while you’re at it, The Power Card has a bunch of innnn-credible, uhhh-mazing, delighttttt-ful offers from your favourite brands. It all adds up. Make use of these exclusive discounts - and you’ve got yourself a nice savings pot. Which can go into those SIPs. It’s all a beautiful loop.

✍️Writing a book? Here’s one of our non-money “start small” tips. If you’re looking to write a book – and you can probably tell we are going with this – write a chapter every so often (weekly is a good idea!). Before you know it, you’ll have a draft of a book ready. Just like you’ll have that sweet, growing set of investments, a retirement fund, a financial knowledge bank and a whole lot more - only because you started.