Have a list of new year resolution to achieve in 2019. 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 atleast 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 goal would help you to achieve remaining resolution such as learn new skill or eat healthier.
Investing money in mutual funds, shares or real-estate is second in investment planning. First step is understand the investment 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 Reliance Small Cap Fund, Reliance Banking Fund , Reliance 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 2019. It is time bound. Start your SIP in one month. Your first month SIP should start in month of february. Happy Investing:)