![]() ![]() Our study stated that 58% of women have no health or life insurance in their name. Uncertainties don’t knock at the door, they are sudden and rather disruptive- emotionally and financially! This fund can be created with a savings account or with liquid and arbitrage funds that target better returns.Īlways ensure you and your family are protected with adequate insurance. The money should be liquid since you’ll need it when an emergency strikes. Once you have identified the goals with timelines, plan your short-term and long-term investments.Īn emergency fund can help one stay afloat in a financial crisis such as the current one.This fund should be at least six months of your expenses and be quickly and easily available when required. Keep aside at least 20% of your monthly income to fulfil these goals. It is very important for these goals to be SMART goals- Specific, Measurable, Achievable, Realistic, and Time-bound. Whatever your necessities and aspirations are, write them down and then work on creating a path to achieve them. Without the presence of an end goal in mind, any activity seems pointless. Set financial goals from the very beginning. Have SMART financial goals for your future: Make sure you jot down all details as they will further help you make decisions accordingly.Ģ. Use a journal or an online spreadsheet to write it down and understand your financial behaviour. This means that not only is it essential to be aware of your earnings but also be aware of your significant expenditure. The first step in the journey of becoming financially fit and independent is to understand your financial patterns. Be Aware Of Your Earnings And Expenditure: ![]()
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