Top 3 financial objectives of 2021

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You are not alone

        What if you come across a Twitter account naming "2021" smirking, "Congrats, you have passed Level 1". We would like to see how your face turns from usual. That's true regarding the wealth creation ground, where no investment option seems to be nice or glamorously waving hands at you. Let's build the most generalized set of rules for the upcoming trends.
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    We here suggest you make all these three your priority for 2021 and a bonus tip, which backs any financial tip you ever receive (Free guidance).

Spend less money:

       Probably the most basic financial advice. But why here? I know it already. Do you follow them then? Financial planning is unique, save 20% of your income beforehand. Try to restrict your spending by tracking them on every occasion. Do your homework: 
  • Write down every penny you spend by maintaining a separate pad.
  • Analyses where all you can cut spending- Munching, online orders, Additional newspapers, etc.
  • If your holdings don't add value to your life sell them- Olx, Domestic sale, eBay, ring your friend.

Pay down debts:

    If a substantial portion of your income is drawn by the debt, it's time for you to think of ways how to avoid them and increase your saving. See how one affects the other. If you are out of ways, we have cool ideas here:
  • The gold which you held for so long is lending hands here. Financing companies offer more value for gold than the banks do. Interest rates on this type of loan are meager compared to the one already slashing off from the paycheck. Get out of the huge loan.
  • Refinancing is a better option.
  • Can also be an option is, increase the due amount, which will decrease the period of payment.
  • Avoid using credit cards.

Plan for retirement:

    The perfect time to start your retirement plan is today, the late '20s sound euphonious. The 20% saving accommodates this or if you wish to put more into the retirement plan increase your savings amount. 
  • SIP your money. Include facilities like bank mandates to automate transactions.
  • Be consistent in your saving. Because financial independence is the fruit of self-discipline.
  • If you have other short term accomplishments (2-3 years) like education, marriage, etc., maintain them separately. 
    A spreadsheet has been made for you to acknowledge how much will you need in reality play. Let's not get demotivated on looking at the math. 
  • You can delay your retirement.
  • Increase the amount you save.
  • Create another stream of income and try to make it passive before you turn 65 or so.
All these being said your partner has to know everything and strictly be committed for the long run. Custom plans can be made according to your needs. Contact us and we are not charging you any. 
Email- varshyam03@gmail.com



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