New Year 2020 resolution is incomplete without financial goals

Have a list of new year resolution to achieve in 2020. Resolution should be short and realistic. All the new year resolution should be SMART. The acronym SMART has several slightly different variations, which can be used to provide a more comprehensive definition of resolution:

S – specific, significant, stretching
M – measurable, meaningful, motivational
A – agreed upon, attainable, achievable, acceptable, action-oriented
R – realistic, relevant, reasonable, rewarding, results-oriented
T – time-based, time-bound, timely, tangible, trackable

All the new year resolution must be time bound such as within 1 month, within 3 months or within a year.

Goal is achievable only if it is time bound

More than 50% of people set resolution related to money. Resolution to save more money, invest money or at least know about investment plans. Without financial goal or resolution, your list may be incomplete. Your resolution and goal list should have at least one financial goal. Financial goals would help you to achieve remaining resolution such as learn new skill or eat healthier. Books makes you smarter. Begin with reading book summary and start watching in youtube book reviews.

Books make you smarter

Investing money in mutual funds, stocks or real-estate is second step in investment planning. First step is understanding the investments in India, Why investment is required, what is inflation. Understanding just 3 words make you rich, Investment, Savings and Inflation.

Understanding of 3 words make you Rich,

“Investment, Savings and Inflation”

You can start investment 3.35 rupees per day. Just 100 rupees monthly SIP in Nippon India Small Cap Fund, Nippon India Banking Fund , Nippon India Vision and many more. Diverting money from spending to scheduled investment would help you to avoid junk habits such as eating out daily, smoking or drinking.

Just begin with 100 rupees monthly in SIP.

Write new resolution in your list. Understanding investment and begin mutual fund investment with monthly 100 rupees in SIP. Begin you investment journey in 2020. It is time bound. Start your SIP now. Your first month SIP should start in month of January . Happy Investing:)