Here are few things to make it even better
A new calendar year comes-up with lots of commitment of bringing-in good things into one’s life. Life becomes easier when we make plan for a new financial year in advance. Let us see how and what are those some of the important things that on one needs to do early on so that the entire FY goes through smoothly. Young and new investors can take a cue from these points while the old-timers may consolidate their money matters.
Here are few things to consolidate and take stock of in the FY 2019-20, for a better control of one’s finances in the year ahead.
Put a plan-in-place
Do not initiate making any investments, tax savings or buying insurance unless you have a financial plan in place. Making financial decisions on ad-hoc basis might be financially damaging in the long run. There is a greater possibility of not making the right provision for your needs, making untimely entry and exits from investments etc. if a plan does not exist
Prepare a budget
Before you start planning your finances, tracking your expenses is equally important, but the very thought of maintaining a budget drives a lot of us into depression.
But it’s not required to take note of all petty expenses or keep one bogged down with the thought of accounting all income and expenses.
The idea is to help you set household expenses at a level that allows you to enjoy the desired standard of living and simultaneously save for future needs. The aim will be to cut down on some of the non-discretionary expenses. Therefore, preparing, analyzing and monitoring your personal budget are some essential steps you should take before you start your personal financial planning.
Get cover for life and medical needs
Diese Geschichte stammt aus der April 2019-Ausgabe von Investors India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der April 2019-Ausgabe von Investors India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Thematic Fund Or Sectoral Fund, Which Fund Suits You?
A thematic fund is a type of mutual fund that focuses on investing in companies based on specific themes or trends.
Be Kind To Your Kidneys
The kidney is a vital organ in our body which is four inches long and two and a half inches in width.
Have You Included A Passive Fund In Your Portfolio Yet?
The assets under management (AUM) of passive funds recently crossed the Rs. 10 lakh mark. While a significant portion of this money comes from institutional investors, such as the Employees Provident Fund Organisation (EPFO), these funds are also gaining popularity among retail investors.
Mutual Fund
1. SEBI allows mutual funds to buy and sell credit default swaps (CDS)
Insurance News
1. The finance minister has launched a new NPS scheme named NPS Vatsalya
ASK THE EXPERT
Dear Sir, I attended your webinar on post-retirement financial planning. As advised by your good self, I invested in NPS after retirement.
Market Mystery: Some Important Investing Lessons from Fund Managers Themselves
Mr. Mahesh Patil is the Chief Investment Officer (CIO) of Aditya Birla Sun Life AMC Limited. As the CIO Mahesh oversees INR 3 lakh crore of assets under management.
How to make a cautious entry into equity funds during a bull market
The number of mutual fund folios has been rising, with flows via the systematic investment plan (SIP) route reaching new highs.
All that you need to know to kickstart your retirement planning process
We all enjoy planning for the future. It’s a good idea to plan ahead of time for anything, from the day’s activities to a vacation.
5 Steps To Achieve Your Financial Goals
From a beach house, a Jaguar, to traveling the world – there are many things in life that we want to accomplish.