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Your guide to 2025 financial planning goals. Explore smart strategies to manage expenses, boost savings, and build long-term wealth.
The countdown for 2025 has already begun, and it’s time to reflect on your New Year’s resolutions. It’s the best time to start your financial planning for the next year.
Whether you’re starting your financial journey in 2025 or want to get better at managing your finances, we’ve got helpful tips to get you started.
Set Your Financial Goals For 2025
1. Set Your Budget
Setting a budget at the start of the year can help you discipline and manage your finances.
Start small by setting monthly budgets and slowly creating an annual budget for your expenses. It is crucial to set a budget to track your expenses and responsibly manage your savings.
2. Start An Emergency Fund
There can be moments when you might face unexpected expenses, and you need to rely on your emergency fund for days like these.
Establishing a rainy day fund is a wise decision to maintain a specific amount of money in your bank, reserved for emergencies.
These scenarios could be anything from an unforeseen economic crash to a job loss.
3. Create A Saving Habit
Everyone should learn to save money. It can be as easy as setting aside an amount daily, weekly, or monthly in a savings account.
Saving is a habit that is built over time and pays off in the long run. Apps like Jar offer micro-saving features such as autopay savings, manual savings, or round-off daily transaction amounts.
4. Build Your Credit
Having a healthy credit score is important for every individual. A good credit score means that you can easily avail of loans with lower interest rates.
You can build your credit score by paying off your credit card bills on time or taking small loans and paying them off timely.
The Jar app offers instant cash loans of up to ₹5 lakhs with a quick credit process and flexible EMI options.
5. Revisit Your Investment Portfolio
If your financial priorities have changed over the past year, you should consider revisiting your investment portfolio.
It is necessary to diversify your portfolio and rethink your investment strategy in a manner that best suits your financial goals.
Consider investing in mutual funds and gold online apart from stocks to manage risk related to investment.
6. Get Insured
Opt for personal, health, marriage, home, and vehicle insurance according to your financial health.
Health insurance should be your top priority, especially if your employer/company does not offer it.
Insurance money can be useful in unexpected situations like car or bike loss or damage, or accidents.
A rise or fall in your income can also impact your coverage needs; hence, it is a good idea to update your insurance as needed.
