Wednesday, January 1, 2014

New Years Resolutions - 2014

What is your Resolution for this New Year? Have you decided something for your finances this year? IF NOT, I strongly suggest you decide something to make sure your finances are in order. The purpose of this article is to give you some ideas on what you should do this year..

Resolution No. 1: Review Your Financial Statements – Every Month

At the end of each month, you get your salary and for most of us, by the mid month our account is almost empty. After paying for our bills, loans and other regular expenses, we are left with only a very small percentage of the money we earned as salary. Almost each month, we are left wondering where our income went, isn’t it?

So, what can we do to fix this situation? First we need to identify what the problem is so that we can address the problem and fix it. How will we identify the problem?

Start noting down what are all the major expenses you incur each month. At the end of the month you will be left with something called a “Cash Flow Statement” which outlines where all your money goes. If you review the cash flow statement you will know areas where you can control your expenses. Target – To Save at least 5-10% of your monthly income.

Resolution No. 2: I will Review My Portfolio – Every Half Year

I have always said that Investing is not a one-time activity. You cant just put your money into some instrument and forget about it. The moment you forget about your investments, it wont be working as hard as it is supposed to. To make sure that your investments are working hard, you need to review your portfolio every 6 months.

Weed Out investments that aren’t working as hard. Divert the funds into better performing instruments. In my book, I have clearly explained how to keep your portfolio optimally allocated based on your age between risky and safe instruments. I have also explained how to handle the maturity proceeds of the investments you make each year. Click the Buy Now button below to buy the book…

Resolution No. 3: I will Invest At Least 5% of my Monthly Income – Each Month

This resolution is straight forward and needs no explanation. Lets make a fresh start to our savings and investments this year. We should aim at saving at least 5% or more of our monthly income each month and invest it properly. We live in a country where there are no pre-planned pension options available for us once we retire. Unless we save for our retirement, we wont have enough money when we are retired. So, lets start saving today so that we can retire in peace…

Happy Investing!!!


  1. Dear Mr. Anand, Kindly advise me how to proceed as i resigned from a company in Cochin June 2013 and submitted forms and required document at that time itself but till now I have not received the money and when i checked with the company, they confirmed me that they have done the necessary for closing and given me the proof.

    Kindly advise what should i do next to get my money

    1. What money are we talking about here? EPF?

      Contact the company and ask them what is happening. they should be able to give proof of submitting the documents to the corresponding departments to facilitate the withdrawal.


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