The last two to three years were a complete mess for all of us – businessmen or employees. And we still haven’t recovered from the pain of the covid pandemic. If you ask the people around you about their financial condition, you will find that most of them are worried about their finances. Handling your finances is not an easy task. However, it is also a fact that the more prepared you are to fight monetary adversities, the better control you will have over your life in terms of money.
Experts suggest some golden rules to make your financial life happy in 2022-23.
satisfaction
The hunger to earn more and be more successful will never die. The need to compete comes when you are not satisfied with what you have. Start being satisfied with what you already have. It will also help you plan better for the future.
future plan
No one knows your financial condition better than you. So, spend a few hours in this Financial Planning, Amit Gupta, MD, SAG Infotech said, “Plan your future wisely. If you are here then you are probably spending your night calculating income, savings, EMI, expenses and future prospects. That’s why no one can know your financial condition better than you. Spend a few hours in financial planning where you take care of all the expenses and align them with all your sources of income without losing the savings. It will help you be prepared for everything and you will be able to handle the situation better.”
“Business owners, freelancers and entrepreneurs should consider financial planning as an essential and core function. In the case of multiple sources of income and avenues of expenses, technology such as software and mobile applications to keep track of cash flows It is prudent to use tools; set outflows and targets for your savings and profits, said Rahul Raj, co-founder and CEO of Flowbiz.
time management
you can earn Pennies again but not the time. Wasting your life’s precious time when you can use it to do things of great value is simply irresponsible. If you want to be financially stable and happy, then make good use of your time and start working on it continuously.
health insurance
‘health is Wealth’. Do not risk your health and life in any way so be prepared for the bad times and take health insurance,
don’t spend too much
Overspending is a disease, and the worst part is that when we get used to spending more than we need, we see everything as an opportunity. Gaurav Kapur, Director and Co-Founder, Fincorpit Consulting, said, “It is not just the overspending issue here, sometimes we spend because of fear or excitement and either way, we lose financial balance. That’s why I advise you to take some time before investing and spend it wisely. Also, avail tax saving schemes so that you can save more for yourself, your family and your future.