Finance Tips for the New Financial Year – Bring it On
Well, the calendar is reaching towards April 2019. Being clueless when it’s about planning your finances? Take a chill pill, Gulaq is right here to help you with some finance tips to knock off your new financial year with High Josh. Read on:
- Minimize your Debt: Debt is such a horrifying word and the maximum probability is due to mismanagement, but if you handle it well, life becomes easy. All you need to do is pay your bills on time; and keep the track of the due date(s). Not to forget, facilitating a seamless repayment always help!
- Track your Spending: Good to know that you are a free spirit spender on the things you drool for, there is nothing wrong with that. But, too many purchases will leave you with heavy balance. Of course, it’s your money and your choice, but if you want a smooth cash cushion whilst still enjoying your shopping, track the expenses religiously. It would be great if you jot down and see at the end of how much you have spent over a month or may be a week. Soon enough your shopping decisions will not make you broke, thus making your cash cushions happy.
- Maintain the Emergency Fund: This tip is all about stocking your cash for those unannounced expenses. Whilst the majority of you might be following the concept of an emergency fund, but there are a few who don’t realize the importance of doing this unless and until you are presented with an emergency situation. Think about it.
- Save for the Retirement: Retirement plan? This age, nah! That’s for old people. If you are living on this statement, you may have misunderstood the subject. There are many individuals who believe to live in the present and follow the time-flow, that’s amazing, but take a moment and think how long you’ll be following the concept of working for 10 hours a day? At some time, your brain and soul might want some relaxation and enjoy things or may be a gateway. Just to make things happen, you need to start saving. How about giving a thought to invest in mutual funds online?
- Ace your Investment Portfolio: Last, but not the least, time to take your investment decisions religiously. How? Just monitor the ways you are thinking to invest. If you are looking at how to invest in mutual funds, you are on the right platform.
You can thank us later!
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Disclaimer: Mutual fund Investments are subject to market risks. Please read the scheme documents carefully before investing.