Year 2006 giving us lots of opportunity to think about the possible resolutions to protect ourselves by maintaining the living standard which we had followed till today and fail proof our financial status.
In the panic background of economic recession and job losing fear, this has high priority to act and maintain. Here is an article with 5 possible resolutions for the betterment of your life and finance all the time.Any one who give importance to the life of self and there family might have set some achievable resolutions for this New Year 2009. Such resolution entirely depends on each individual and it can be personal, official or any other in kind. As a Blogger entirely concentrate to the financial planning and investment, I have given high priority for the resolutions that help us to maintain our living standard. This article help you to assess, identify and act with required planning properly.I have classified the actionable items to 5 major areas. Below are the same with its requirement and description.
• Emergency fund
Keeping an emergency fund is a tested and intelligent method to face any ironic situations like financial crisis, job lose or economic recessions boldly. This method known as the act of intelligent people. Read this step by step article to know more about the need of an emergency fund and the methods to raise the same for a relaxing life.
• Assess and get required insurance coverage
Not having enough insurance coverage mean you are in deep trouble with personal finance side. such status can destroy your financial base in a great extend. Lots of people suffering and sinking to huge debt because of not having coverage plans to meet emergency requirements that cost huge money. To meet such money requirements, they either borrow money from third party or take personal loans that have huge interest rates. A self assessment to identify your insurance requirements add extreme safety to your life and that you can realize time to time later. Read this article to assess and understand your required insurance coverage to buy as early as possible.
• Build a savings habit to your kids.
It is a truth that the habits one learn in the child hood will follow him till the end of life. Teach your kid the value of money and build a savings habit. They will be very grateful to you in the future. See this picture first to understand the requirement of savings for child. After, this is the first article to read and this is the second article both well explained the idea to teach your kid about money and savings.
• Fail proof Personal Financial Plan
Any one in present time have requirement of building a solid financial planning for life to meet all your future financial goals. Here is a series of article, which giving step by step guidance through well defined and practical examples, to have a well structured financial plan for lif.
Any intelligent action with money always give you huge profit as well as benefit. If you have not start the same till now, it is the time to start. My best wishes.If you feel that I have missed anything or have any ideas, feel free to comment or contact me.