New year, new hopes, same dreams, but renewed vigour. Every year, we tend to take the same New year resolutions, i.e. get fit, read more, meet more friends, travel, etc. We keep some, we forget some. But this year I urge women to include a resolution on finance and investments. And more importantly keep this resolution not just this year but for the rest of your life. I would have liked to add more, but lets take baby steps, so here it is;
Save more and start investing. We earn, we spend and we save some. Every year, we decide we should bring down our spending, but a sale, a good deal lures us and we give in to the temptation. We buy not just for us, but for family and friends, the list is endless. And at the end of the month, we don’t even check our bank account to see how much money we have saved. And this continues month after month. And it doesn’t even concern us that we are not saving enough, worst still, we are not investing. I would like to see this change, women need to take a resolution to save and more importantly invest the savings. You think this is difficult? No, actually its very easy. The only way to keep this resolution going is to commit to an investment on a monthly basis. So once you receive your salary credit, you first invest and whatever remains, you can use for shopping. Look at investment as an opportunity for additional income. Invest for your retirement, Invest for child, Invest for your travel, Invest for your health. Whatever keeps you motivated to your commitment of investment, make that your goal. Whenever you are tempted to give up, keep reminding yourself of this goal.
Next I would like to see women
Get more involved in the investments. Investing is like a journey, there would be many stations serving as milestones during this journey. So once you decide to embark on this journey, it’s important that you enjoy it. So spend some time reading, about the various investment options available. Do not hesitate to ask questions and clarify your doubts regarding finance and investments. If you get overwhelmed by all the information available on the net and newspapers, you could seek the help of professional financial advisor to guide through the journey. Be involved with your spouse or parents or whoever is helping you, regarding the investments made. It is important that you review these investments on a periodic basis. Once a year should be enough to check to see if your investments are performing as per your expectations.
Surely, these resolutions are easily achievable, it’s just a matter of taking that decision. If you are able to succeed in these two resolutions for 2017, it will be forever. Don’t get distracted by what people say or the market conditions. Just stay the course and enjoy the journey!!
Author: Usha Mallya