As the current financial year 2016-2017 comes to an end, we have start running havoc to make investments to make sure to save some money while filing the income tax returns for the current financial year. Surely we won’t be able to cover all the aspects, but we akways like to take a last minute jump to save a few bucks here and there.
To avoid this late crash, one need to make some exhaustive list of plans for the coming financial year so that we can be prepared from the start, rather than running around during the end of the financial year.
The main outlines for the plan are as follows:
- Create a budget and stick to it.
- Build an Emergency Fund.
- Payoff high intereset loans and credit card dues.
- Take Life / Medical / Disability cover.
- Start / Increase investments towards retirement.
The only thing thats important to know is how long we can stick to it, and that will decide our future.