Aha!!! Happy New Year Guys. 2017 is
finally here. And so are the resolutions. We all make resolutions at the
start of every calendar year. Very common ones include, losing a few
pounds, controlling diabetes, quit smoking, finding a better job, etc.
But how many of us actually make resolutions which are related with our
financial health?
C’mon …. Its New Year man. Give us a
break. Not another lecture please. … Well I know many of you must be
saying this, but at Moneypalm we consider you all our family and we will
do all it takes to incorporate good financial habits in you. Taking
care of each other, that’s what we do in the family, don’t we? So let’s
make a few resolutions today which will help us and our loved ones in
long run. We at Moneypalm Discount Brokerage have listed below few
resolutions that every individual reading this article should make.
- Save atleast rupees 500 per day and invest the same every month.
Saving Rupees atleast 500 per day means,
saving Rupees 15,000 per month and some 1,80,000 per year. Taking out
rupees 500 per day is not a big task but making an invest of Rs.
1,80,000 at a single go can be difficult. So keep saving and keep
investing. Both are the key to our secured and happy financial future.
You can invest in good stocks or Mutual Funds or SIPs or gold or even
land. Asset creating is the main objective.
- Invest in assets which appreciate with time
Don’t invest in things which will
depreciate in value over the time like cars or electronic gadgets. They
depreciate very fast. Instead invest in things which will appreciate
over time and give you good return for your money. Assets like stocks of
good companies or commodities or real estate will appreciate with time
and will help in wealth creation for you.
- Increase financial knowledge
Knowledge is power. Gaining knowledge
about any subject will help you become an expert in that field. Think if
you are an expert in the financial domain, you can always make right,
informed decisions and that can actually help you in wealth creation.
Why look for tips? Why not learn something new every day? Tell us if you
find any difficulty, I assure you TradeTalk will always be there to
help you out.
- Start investing for your health
This includes two things. First is buying
a good medical insurance so it can take care of any unforeseen
expenditure arising out of ill health. Second, but more important thing
is to invest in eating good, dieticians, gyms, yoga, so you are always
fit and may not have to see a doctor.
- Work up a retirement plan
Gone are the days when people were given a
pension by government. Now most of us work in the private sector and
anyways there are no pensions. So we should invest long term taking our
retirement into consideration.
Well these are just few of the
resolutions that you can take. There are many more and can be need
specific. The point here is we should have our financial goals and we
should have the will power to actually achieve them.
We would also like to hear about any
other resolutions that you have made, and would be happy to help you in
achieving those goals. Please do not hesitate to contact us if you need
our help in any way.
Once again, wishing you all a very happy new year. God bless you all.