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Make the Most of Your 2019 Resolution with Your Li...

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New Year 2019 is around the corner. New Year is one of the most invigorating & thrilling time of the year. It is also the time when we all start planning for our new goals so that we can become a better version of ourselves the coming year. Not much time is left with us before the New Year hits us. It’s high time we start planning our New Year resolutions.


Let’s get your financial life in order this New Year & consider it as your New Year resolution. Setting resolutions at the beginning of a new year can help you reach short and long-term goals and even help you to have firm control over your finances.
Here are top 8 financial resolutions for the year 2019:-

1) SAVE MORE & GO ON A CASH DIET!

Save your cash & stop wasting your money on unnecessary expenses because a Penny saved is a penny earned. If you feel that saving money is difficult, just contact your Financial Advisor and start a SIP.
 

2) REDUCE YOUR DEBT

Are you paying high-interest rates on your loans? Consider paying off your debt. Develop a proper strategy to reduce your debt. Initially, it may be painful but it would be satisfying for you to watch the debt level fall off. If you are feeling confused, contact your Relationship Manager or Financial Advisor who will help pay off your debt.
 

3) BUILD AN EMERGENCY FUND:

Emergency can strike you & your family anytime. It is necessary to construct a corpus & keep it aside for any kind of emergency like Medical or Financial Emergency. You can start a SIP in Liquid Mutual Funds from January next year which can be used as an emergency fund in the future. To find out the best Liquid Mutual Fund for your emergency fund contact your Financial Advisor.
 

4) BUILD A RETIREMENT CORPUS:

You may be still young but you would retire one day. If you wish to live in your farmhouse or go for world tour post-retirement & lead a stress-free life after retirement, you need to start SIP as early as possible. The early you start investing, better would be the returns when you retire. Consult your RM or Financial Advisor for creating a Retirement corpus.
 

5) CLOSE UNECCESARY ACCOUNTS:

Do you own multiple Saving Bank Account? It is important for you to know that you need to maintain MAB in each of these accounts. Banks also charge a different kind of fees like Debit Card Fees, SMS Fees etc and penalties. You don’t need multiple accounts because you can get all services only from one bank account. Stop wasting money.
 

6) CREATE A BUDGET & TRACK EXPENSES DAILY:

This habit will surely help you to cut down your unnecessary expenses. From a spendthrift, you would turn into an economizer. The saved money could be then invested in mutual Funds via a SIP. Your Financial Advisor can help you with Budget Planning & subsequent SIP Investments.
 

7) MONITOR YOUR CREDIT SCORE:

To ensure financial health, monitoring the information in your credit report should be treated as a credit health management exercise and should be done on a regular basis preferably quarterly. If the credit report & credit score spins your head contact your Relationship Manager.
 

8) START AN SIP:

An SIP is a must to promote disciplined savings & investments. SIPs in Mutual Funds are the most effective medium for investments. Using modes like SIP for investments in Mutual Funds reduces risk and at the same time achieve financial discipline.


You can start a SIP with just rupees 500 a month. Make sure you start at least one SIP from January 2019. To find out the best Mutual Fund Plan to invest via SIP click on the following link https://www.sre.co.in/contact-us.aspx.


A Financial Investment comes up with a promise of a bright future. The amount which you will invest today will get you closer to financial success. So, opt for a wealthier state of mind this New Year and start a SIP!
 
 
 

 


WRITTEN BY : admin

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