Scripbox recommends increasing your SIP by 10-20% every year in line with the increase in salary. However, we noticed that many of our members make much larger increases.

We asked a few of them, how and why they did this, and here’s what we learned:

#1.“I want to get to my goal sooner.”

The most common reason. The trigger for this is also a realization of how easy it is to save once you set up your automated SIP. A goal that is 2 or 3 years way, such as a trip to the States, or buying furniture for your new apartment, can be achieved sooner if you add some more to your SIP amount.

#2. “I’d like to take a sabbatical from work in the next 6 months.”

For those, who wish to take a planned break, it does make sense to increase their SIP now. It also helps in 2 ways: by cutting down expenses, so your money lasts longer in your break and by creating a larger savings pool.

#3. “I cut down on commute by cabs to work, by buying a bike. The money I save now, has helped me increase my SIP.

This is how a bit of forward thinking can go a long way in creating a virtuous cycle. Use your savings to replace a recurring expense, and create even more savings.

Find your own reason to increase your SIP in 2018. Make it your first task in the year. Increased SIPs every year can enhance your portfolio of investments than constant SIPs through the years.