Happy New Year 2022: The year 2021 is about to end and the new year 2022 is about to begin. Along with this, you must have started thinking about making New Year’s resolutions. Every year, we decide to do some such work, which we take a resolution to complete every New Year, yes their completion is known later. After the passage of this year i.e. 2021, you should take some such financial resolutions for the new year 2022 which will make your financial condition good and improve it.
We have brought some such financial tips for you which will help you to become financially empowered and strengthen your financial position. These 5 money solutions can prove to be very helpful for you.
Know 5 money mantras that you should follow for the whole year
1. Plan early for big expenses
Plan your expenses in such a way that you have already thought about where the money will be arranged for big expenses. Always keep big expenses on priority and your planning for them should be such that it is capable of covering them completely.
2. Devote one full day out of every month to look after your financial matters
At the beginning of every month, fix a day in which you have to see only whether your financial matters are being managed properly or not. Take care of credit card bills, monthly EMIs, whether the budget of the month is under control, money allocation for outings as well as whether all financial matters are under control and keep a day for this work.
3. Avoid Buy Now-Pay Later Schemes
Nowadays these schemes have become very much in vogue and people have started spending more than necessary due to them. They are similar to credit cards in a way, but credit cards still have limits, as there is no limit for these schemes, you can get caught in the trend of spending excessively. So the advice is not to pay much attention to them.
4. Review your credit report twice a year
Review your credit report on a half yearly basis every year and make sure that you have a good CIBIL score and that your debt is not increasing. Whether the credit card expenses and EMI expenses are being managed properly or not.
5. Be sure to take health insurance
We all have felt the need of good health insurance cover in the times of Kovid and if you still haven’t taken it then don’t delay any more. Kovidkaal has taught that medical emergency can come at any time and for this you should have good financial cover. Visit policy sites and compare the best health insurance for you to ensure your safety and that of your family immediately.