Personal finance 2024: Critical checks before year end

By Editorji News Desk
Published on | Dec 07, 2023

Personal finance goal for 2024

As the year ends, here's a quick checklist for your finances to begin the new year on a strong financial note

Re-look at your financial goals

The year-end is a great time to assess your financial goals and to take stock of whether you need to make any tweaks to them

Evaluate cash flow

Look at your spending habits, see how your savings are growing & if you need to make any changes to your spending or saving w.r.t your financial goals

Income and taxes

Another crucial step is to estimate how much money you'll make in the year ahead and plan for your tax-saving investments and expenses

Credit score check

Check how trustworthy you seem to lenders. Keep an eye on your credit score and whether you need to take steps to improve it

Emergency fund

If you don't already have one, make a plan to create an emergency corpus. This fund should be equivalent to at least 6 months of your salary

Beneficiary review

Check if you need to make any changes to your nominees of your investments. Ensure your docs matches with any changes you may want to make