1 / 11

Prediction Time: What's your big idea to improve finance in 2016

The New Year brings a fresh lease to life and you start making important resolutions that include financial ones as well. If you want to achieve financial independence this year, the key is to maintain a good balance between income and expenditure View our website:http://www.cisi.org/

CisiIndia
Download Presentation

Prediction Time: What's your big idea to improve finance in 2016

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Prediction Time: What's your big idea to improve finance in 2016 #finideas

  2. The New Year brings a fresh lease to life and you start making important resolutions that include financial ones as well. If you want to achieve financial independence this year, the key is to maintain a good balance between income and expenditure

  3. This can be achieved by following certain offensive moves, like increasing your savings, as well as defensive ones, like protecting yourself from wrong investments • The following points have been carefully formulated to help you get an idea about how to improve your finances in 2016

  4. Don’t let credit cards get the better of you • A credit card is indeed essential for making bulk purchases but that doesn’t mean you have to keep on stacking up credit cards in your wallet every year. • Before getting a new credit card, check whether the interest rate is higher than normal, and if it is, then refrain from getting it. • If you already own a few credit cards, it is advisable to not sign up for new ones, especially if you don’t need them all.

  5. Clean up your debts • Debts have a bad habit of accumulating without you even realizing it. So the best trick is to first pay off your credit card bills and loans before piling any new debts on your shoulders. • Focus on your mortgages and other borrowed funds instead of ramping up your credit cards bills every month. Another effective way to reduce debt is to pay cash upfront whenever possible.

  6. Read up on Finances • You don’t need to be a finance guru or expert in order to make wise financial decisions, but keeping yourself aware and updated with the latest financial trends in the market will ultimately benefit you in the long run. • So utilize your spare time by going through finance books, magazines or online sites like Investopedia and Financial Times.

  7. Keep track of changes in Insurance Policies • Getting Insurance is a good way to keep yourself protected from unforeseen accidents and market ups and downs that can render a fatal blow on your finances. • But before getting insured, make sure to get acquainted with the changes in policies that are coming up in 2016.

  8. Invest in Pension Funds • Your financial worries in old age can be successfully eliminated with the help of pension funds. These can turn out to be the most fruitful investments in the long run. • Moreover since they are tax free, you are also saving a lot of money through the years. Pension funds are usually kept safe with the company until you retire.

  9. Loan wisely • Housing loan is the best option currently available. There are rent options as well as mortgage options for various income groups.

  10. These tips will surely help you take better financial decisions in the year 2016.

  11. Thank You View Our website: http://www.cisi.org/

More Related