Greeting To Our Readers!

New Year is around the corner! The world is preparing to celebrate its New Year in the most unique way possible!

The new year brings new opportunities, it gives a chance to recapitulate the going year, reconsider your mistakes and corrects that you did in 2020, and help you set new goals for the year ahead.

People set physical wellness resolutions, like losing weight, however, we suggest this year, consider adding Financial Wellness Resolutions!

Let us know what experts say about Financial Wellness Resolutions!

Reconsider Your Household Budget……

Start the year by revisiting your budget. Start it with accessing your monthly income, your fixed expenses, your extra expenses, your savings, your investments, and your financial priorities for the year 2022.  

You may have several financial goals to plan for in the next year like you might plan for a vacation in the summer and for the same, you might also be saved. You may also have a financial goal like topping up your SIP to build a more wealthy retirement kitty. Understanding your top priorities can help you develop the ideal budget for you.   

Calculate And Tackle Your Debt…..

Even if you’re already good about managing debt, consider taking steps to help reduce and consolidate it further. For example, in today’s labor market, if you’ve gotten a raise or found a new, higher-paying job, consider applying the extra income to any balances with high-interest rates.

Then, think about consolidating any remaining debt, which can let you swap the varying interest rates on multiple loans, credit lines, or cards for a potentially lower rate on a single loan.

Time To Secure Wellness

Use the New Year as an opportunity to feel more in control, mentally and financially. Consider taking advantage of any employer wellness resources for physical, mental, or financial health. Many companies offer financial-education programs and digital learning tools, which can supplement the advice you receive from a Financial Advisor.

Using these tools can help you not only bring a sharper version of yourself to the job but also set you up to make better use of other workplace benefits, such as a retirement plan, equity compensation, or group insurance, if available.

Always Be On Track With Your Goals

As you begin a new year, be sure to check whether you’re still tracking toward your goals, such as saving and investing for a comfortable retirement. If you’re off track, work with your Financial Advisor to figure out why—and how you can get back on the right path. If you’re still on track with your goals, talk with your Financial Advisor about new goals you want to work toward.

Keep reading our article and stay updated with the latest news about Mutual Funds!

For any kind of query, you can contact us at Shri Ashutosh Securities Pvt Ltd., we are here to help you in any way possible.

Happy Investing!

(Mutual Fund investments are subject to market risk Illustrations are for example only, there is no guarantee of returns. Past performance is not an indicator/guarantee to future returns).