7 Resolutions to reach your financial goals in 2023

In this New Year, take the resolution of Financial Freedom. Here we have listed 7 Resolutions to reach your financial goals in 2023

  1. Track your expenses

    Reducing unnecessary spending is one way to cut your expenses. You can use expense management apps that help manage all your expenses. A simple glance helps you figure out your major spending. 

  2. Increase your savings by at least 10%

    – Increasing your savings annually will help you create a great wealth for your future goals. 

  3. Align your goals and investments

    When was the last time you reviewed them? If it hasn’t been any time recently, then maybe it is time for an update. Make your financial goals  as clear as possible. This will help in planning investments for them.

  4. Improve credit score

    – This year promise yourself to clear all your dues on time & avoid any penalties. This will ultimately help you improve your credit score.

  5. Clear high interest debts

    Nowadays, borrowing money has become much easier due to digitalisation. The young ones hold several credit cards and can also get easy access to personal and other loans. To reduce the debt burden, primarily check the total amount of liability you owe and list down your debts.

  6. Start a passive income source

    – To combat the rising expenses and our need for a better lifestyle, it is important to have a passive source of income.

  7. Create an emergency Fund

    Managing unexpected circumstances such as medical emergencies, job loss, home renovations, or automobile repairs can be difficult. To prepare for such situations, you can build an emergency fund by setting aside a part of your income. Put something away every month, regardless of how much or how little. 

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