It's April again, 7 things you should start the new financial year with.

1. IT'S APRIL
AGAIN
7 things you should start the new financial year with

2. BUDGET IT
RIGHT
Our lifestyle is not static, it evolves from time to time.
Our income is one of the main determinants and our
aspirations further influence it. But that does not
mean that you should lose sight of savings. It must
follow the ‘Earn-Save-Spend’ norm that should be
followed by you.
Once you decide on your level of savings per month,
you should curtail your spending. For that you should
first know where you are spending. Write down your
spending and identify patterns. This budgeting exercise
should help you strike the right balance.

3. Cutting down spending is not a welcome idea. Hence it is better to go for
smart spending. Use apps, credit cards and loyalty programmes that help
you pocket a few discounts on your needs. Also unsubscribe from all
subscriptions that may induce spending on wants.
Try to cut your spending each month compared to previous month or the
same month the previous year.
INITIATE SMART
SPENDING

4. TAKE STOCK OF
YOUR LOANS
CHECK INTEREST
RATES ON LOANS
TARGET HIGH
COST LOAN
CLOSURE
FORECLOSE
PERSONAL
LOANS
STUDY THE REAL
DEVILS IN
LIABILITIES
CHECK FOR
PREPAYMENT
CHARGES
TARGET DEBTS

5. SET YOUR
GOALS
Write down your aspirations in the form of
financial goals. For example, you may want to
buy a car priced at Rs 7 lakh three years from
now. The financial goals must be expressed in
money terms and must be time bound.
You should ideally be defining both your short
term goals as well as long term goals.

6. MAKE A
STRATEGY
Setting your financial goals will also call for
deciding on a game plan for achieving it. For
short term goals, start saving money in less
risky investment avenues such as fixed
deposits, recurring deposits and bond funds.
If you are keen on saving for a long term
financial goal such as retirement, do
embrace risky investment options such as
stocks as they are expected to beat inflation
by a major margin in the long term.

7. PLAN YOUR
TAXES
START YOUR
FINANCIAL
YEAR WITH
TAX PLANNING
CHOOSE TAX
SAVINGS FUND
OR PPF FOR
LONG TERM
GOALS

8. KILL
PROCRASTINATION
PROCRASTINATION
KILLS THE BEST OF
THE FINANCIAL
PLANS
START NOW,
YOU WILL HAVE
MORE TIME AS
COMPARED TO
A YEAR FROM
NOW

9. BEWARE OF
LITTLE EXPENSES;
A SMALL LEAK
WILL SINK A
GREAT SHIP.
Benjamin Franklin

10. THANK
YOU!