7 - New Year Financial Resolution :-
1. I will Insure my Family & Property: - We work hard to earn, now is the time to protect your family & properties you owned, buying a medical for any medical disaster. Make sure its adequately insured.
2. Emergency money Planning:- A very commonly given financial advice, but not so commonly implemented across. generally, 6 to 8 months monthly total expenses/spending(total expense include all expenses including loans and credit cards payments, household bills etc.,)
3. Pay off your debts/ loans :- Make a plan for which debts to pay first. You must pay everyone something every month even if it's only a rupee, but you need to have one debt that you are going to get rid of first. Target the one(s) with the highest interest rate. Also, call them and ask them to reduce your interest rate - many times they will do this, just because you asked! Review your finances thoroughly, crunch the numbers, and see which method would be the most effective for your situation.
4. Start Early for Child Education & Marriage: - Kids grow quickly, so as their need, To ensure the financial comfort of your family as long as you are around and even after, you can designed an easy plan that stays with you for life.
5. Early Plan for Retirement: - its never too easy to plan for retirement, it takes years to build the kitty on which one can easily depend upon monthly income. Early start of investment will give you more money than starting a year after.
6. Create a Will :- Earning, Investing & Creating Wealth for your family. After all these, one should create a will to ensure, everything you created is protected for your loved ones.
7. Make an Appointment With a Financial Advisor:- Let a professional take care of your financials, take an expert advice on your Financial Goals & create your financial path for future.
- Manan Mankad