Wish you all a Happy and Prosperous New Financial Year 2023!

We had 1st January and many other religious new years during the last 2 months. How many resolutions have we passed and how many of them are still intact?

But, the resolution; which needs to be passed now, is one of the most critical ones from the point of your future financial well-being….So, let’s see, what could be that new start?

Review your last financial year from the money angle. Anyway, it needs to be done for Income Tax purposes. But now add a few more questions.

• Have we invested at least 30% of our net income in assets that will be yielding more than inflation over a long period?
• Have we taken any big loans, where assets created are actually depreciating?
• How much interest have we paid for loans and Credit cards in the last financial year?

So, review your financials and start planning for the future. Your resolutions should be:

• We will be having a sound financial plan for our future.
• The said plan will be prepared by taking all family members into confidence.
• Our topmost priority will be to bring down liabilities as early as possible.
• We will not pay any interest on the credit card.
• We will set Financial Goals like Early Retirement, Children’s education, etc., and plan for them.
• We will ensure to have adequate Life and Health insurance plans.

Let’s resolve for Financial Freedom and live a stress-free life!!