5 Financial New Year Resolutions that you must make

Sticking to those individual resolutions is hard, we feel you. Most of us fail to follow the New Year’s resolutions as soon as the year starts. Well, not anymore!
Here are the five easy-to-accomplish financial resolutions you must make and achieve this 2020.

Financial Resolution #1: Track your expenses and stick to a budget

Before making any financial resolutions, you should know where and how much your money is going every month. Sort out the debt obligations you have, and create a solid budget.

Based on your monthly expenses, target how much money you can save and put away for investing. Jot down your financial goals and investment horizon i.e., how long you want to be invested for.

Financial Resolution #2: Invest in direct mutual funds

Be it saving for that dream house, car or a luxury vacation, choosing the smartest investment option should be your goal this new year to achieve it all.

Investing in Direct Mutual Funds is one of those options, where you pay ZERO commission as you avoid intermediaries and earn up to 1% higher returns.

Financial Resolution #3: Choose the SIP mode

Better to pay as a series over time, than making that heavy single payment at once, right? Systematic Investment Plan (SIP) lets you do that.

By adopting the SIP mode of investing, you can invest a fixed small amount every month in your favourite mutual fund scheme that will be deducted from your account, in a simple and hassle-free manner.

Financial Resolution #4: The tax saving option

Earn higher returns, grow your wealth as well as save taxes. Sounds like the package deal.

Equity Linked Saving Scheme (ELSS) funds are among the best tax saving options you can opt for under 80C.

Financial Resolution #5: Choose a smart investment partner

We got you covered in this! Choose moneyguru as your smart investment partner as it is the ONLY investment platform you will ever need for all your financial goals.

It’s time to make those resolutions again!