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New Year Resolution to Maintain your Finances!

Admin@thefundfacts 3,321 Comments

The new year’s celebration is here and we all are somewhat ready with some great resolution for 2020 right? Like every year now also we will try to motivate our self to make it a better year than the previous. What if we make it a little different this time by looking at a very important aspect that is our finances! Let us help you to guide how to keep your finances organised by keeping some simple resolutions.

1. Keep an eye on your Investments:

If you have already ahead with your investments, this year keep following it up on regular basis. The market is not always favorable. Make sure you take corrective decision timely and for that you should be aware of the financial news happening presently.

2. Complete Tax Saving Early:

Start your tax saving investments from January itself and make it complete by December itself. So that you avoid last months fund crunch or invest a wrong amount at a wrong instrument.

3. Diversify your Investments:

Do not put all the eggs in one basket. Make a clear view of your investment goal and capacity. Make a list of of instruments you would like to invest in according to risk and return. Mix up your portfolio to get a healthy return out of that.

4. Be vigilant on Frauds:

Financial institutions are reporting a huge no of frauds in their book these days. You should always be alert with whats going on in the news. Moreover fraudsters are also duping individuals via internet/debit card/Spam call etc and people are loosing lot of their savings to them. Keep yourself updated with the happenings through out the year.

5. Track your Expenses:

Set a cap on you expenses and keep an eye on it on monthly basis. Chalk out the least necessary expenses of a month and stay away from them on the upcoming ones. You can find the best expense tracker app of this time here https://thefundfacts.com/best-and-free-personal-finance-apps/

Follow the learning of the article and your surely have a better financial life now on, hope this year become the best year of your life. Keep learning, keep improving.

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