Are you fresh out of college with a job in hand and dreams of going on those foreign vacations and driving your dream car? 

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Naturally, your first hard-earned first salary is splurged on parties and buying gadgets that you may want but not need. 

Slowly and surely your credit card debt begins to mount and before you know it, its an endless loop of meeting bills and other sundry payments. 

This is why you should apply just a bit of discipline and begin investing your money in small sums from day one. 

And this is where a systematic investment plan or an SIP comes in the picture. 

You can start an SIP with money as low as Rs 500 a month. 

FIND MUTUAL FUND NAVs AND RETURNS HERE.

In a SIP, an investor has to deposit a small sum every month or every quarter and the amount of investment can be as low as Rs 500. If you choose a mutual fund scheme and invest in SIP, based on the plan that you have opted for they will allocate your money in debt or equity.

Speaking with Zeebiz, Archit Gupta, Founder & CEO ClearTax.com, said, "An SIP allows you to spread your investment over a period of time. You will be able to invest at different levels of the market. If the markets are high, you get fewer units. If the markets are low, you get more units for the same amount. This way, your overall cost of investment gets averaged out."

ALSO READ: An SIP can help you save entire interest amount on your home loan

"SIPs are the best option for first-time investors because they insulate you from catching a market peak, they allow you to benefit from rupee cost averaging and they help you develop the habit of investing regularly," Gupta added. 

Thus, start your SIPs today and save up enough for your future plans.

Disclaimer: This story is for informational purposes only and should not be taken as an investment advice.