The last two years have been very difficult for the people due to the pandemic. During this time, many people lost their jobs, some had to face cut in salary, while some of the businesses came to a standstill and the cost of treatment increased wildly.
Due to this people had to face financial difficulties. However, the last two years have also made people realize the importance of financial planning. In such a situation, before the start of the next financial year i.e. 2022-23, make your financial plan so that the earnings can be managed accordingly throughout the year. Here are five ways you can follow in the new financial year to manage your earnings.
Make sure to budget
Keeping track of your expenses is the first step in financial planning. This shows where and how much you are spending. You also know where spending needs to be cut. To keep a record of this, you can take the help of the app, which will keep the record of all your transactions. With this, you can also set the priority of your spending.
Keep reviewing goals
Be sure to review your financial goals. Every person keeps a certain amount of his earnings for saving, investing with a specific goal. As the new year begins, you may want to rethink those goals. With this, you may want to add a new goal for the new year.
Suppose, earlier you were planning to buy a house after 10 years, but due to your increased income, you will get it earlier. Therefore, you can increase the monthly amount that you were allotted to buy the house.
investment portfolio review
If you are not already investing then this is a great time to start investing and build a strong investment portfolio. However, if you already have a portfolio, you can review it. Keep track of your portfolio from time to time. This will keep you informed about the performance of the investment.
insurance cover
Insurance proves to be very helpful in case of emergency. Health and life insurance is a must for every individual and head of the family. In such a situation, if your insurance is expiring then it is time to renew it. If your family has recently expanded due to marriage or the birth of children, it will also be important to amend the insurance.
tax planning
Tax planning is an important part of financial planning. If you plan early in the financial year, you get enough time to calculate investments and save maximum tax. With this, you can invest properly throughout the year.
UP News: CM Yogi gave a gift of Rs 1200 to school students, 1. 91 crores will get the benefit
Chief Minister Yogi Adityanath on Monday pressed the button and transferred Rs 1200 for shoe stocking, school uniform, sweater, school bag, pen, pencil, copy, rubber, and cutter for 1.91 crore
Punjab: Had Yogi been there, the son would not have been murdered, Moosewala's father praised, people will be forced to vote in 2024
On March 19, the death anniversary of the late Punjabi singer Sidhu Moosewala was organized in Mansa, Punjab. While Sidhu Moosewala's father Balkaur Singh targeted the Punjab government, he praised
Delhi CM Oath Ceremony: Atishi's swearing-in ceremony on September 21, other ministers will also take oath along with her
Atishi will take oath as the Chief Minister of Delhi on September 21. Other ministers will also take oath with her. Arvind Kejriwal had submitted his resignation to the LG on Tuesday evening and
COVID-19: Sharp decline in corona cases, infection rate 3.50 percent, but cases increased in Delhi
The corona infection in the country is fluctuating daily. In the last 24 hours, 12,751 new cases were found, while active cases also declined further. During this, the daily infection rate was
Fiji told the importance of relations with India, said on the discussion of China - wrong thing...
Fiji's Prime Minister Sitweni Rabuka thanked his old friend India on Thursday. India's External Affairs Minister S Jaishankar announced the Visa Waiver Agreement for holders of diplomatic and official
Climate change: Humans in danger, the world moving towards the fire of hell; UN chief expressed concern over climate change
Climate change: UN chief Antonio Guterres said at the important COP27 conference in Egypt that climate change is three times more destructive than war. More people are displaced by climate disasters,
A funny incident happened with Foreign Minister Jaishankar who reached a restaurant with their son in America, told a funny story
A video of Foreign Minister S Jaishankar is going viral. In this video, Jaishankar has narrated the story of a funny incident that happened in America with him and his son. The Foreign Minister told
Coronavirus Updates: Corona cases increased again in the country, with 2124 new patients in 24 hours, and 17 people died
The cases of corona infection have increased again in the country. A day later, the cases of corona have again crossed two thousand. The Health Ministry said that in the last 24 hours, 2,124 new cases
Monkeypox Vaccine: Government alerted by increasing cases of monkeypox, tender for vaccine and kit
The government has become alert because of the ever-increasing cases of monkeypox in the country. The government has floated an 'expression of interest' i.e. tender for the manufacture of monkeypox
A bomb threat on an Air India plane created panic, a flight going from Mumbai to New York was diverted to Delhi
Air India Flight Bomb Threat There was a stir after a bomb threat was made to an Air India plane going from Mumbai to New York. The plane was then diverted to Delhi airport. Officials said that all
