Financial planning: Manage your earnings in five ways in the new financial year, helpful in dealing with inflation-excessive expenses


Posted on 28th Feb 2022 04:22 pm by rohit kumar

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.

1 Like 0 Dislike
Previous news Next news
Other news

Russia-Ukraine war: Putin's army fired missiles at shopping malls; Russia missed the deadline for payment of foreign debt

It has been more than 4 months since the Russia-Ukraine war. The attacks are still on. Before the

Waqf Bill: Maulana Arshad Madani upset with PM's comment; Appeal to Nitish-Naidu to stop the Waqf Amendment Bill from being passed.

Jamiat-Ulema-e-Hind president Maulana Arshad Madani on Sunday criticized Prime Minister Narendra

North Korea: Dictator Kim Jong's strange decree, women and girls with daughter's names change their name

In North Korea, girls and women named after the daughter of dictator Kim Jong Un are being forced

'How can the Chief Justice be involved in the selection of the CBI Director', the Vice President raised a big question.

Vice President Jagdeep Dhankhar has made a big statement on the division of powers. He said that

Kisan Mahapanchayat: Farmers reaching Jantar Mantar without permission, a shock to SKM-Rakesh Tikait just before Mahapanchayat

The United Kisan Morcha and other farmer organizations have called a Mahapanchayat at Delhi's Jan

Ramdev on Trump Tariff: Yoga guru Ramdev found a solution to Trump tariff, told what to do now

Everyone is criticizing Donald Trump's huge tariff on India. Even the American MPs themselves are

Virat Kohli was spotted having lunch with his daughter Vamika in London, cute pictures of father-daughter went viral on social media

Indian team's star batsman Virat Kohli and his wife Anushka Sharma have recently become parents f

Ind vs Eng 5th Test: Ashwin-Johnny will score special 'centuries' in Dharamshala, history will be repeated after 11 years in Test cricket

The last Test of the ongoing five-match Test series between India and England (Ind vs Eng 5th Tes

Shubman Gill created history, gave India a record win at Edgbaston; Gavaskar's 49-year-old record broken.

A new chapter has been added to Indian cricket history. In the second Test match played at Edgbas

Earthquake: Earthquake tremors felt from Kolhapur in Maharashtra to Katra in Jammu

On the intervening night of Thursday and Friday, the earth shook from Kolhapur in Maharashtra to

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash