Personal Finance Resolutions for 2022


Money management should be holistic. How we save or invest is important, but our health and time management is more important.

Personal Finance Resolutions for 2022

  1. I will not be in a hurry to invest or save money – not before I protect my family with adequate life insurance, health insurance and an emergency fund.
  2. I will reduce or preferably stop eating all forms of sugar (white, brown, jiggery, honey etc.). Sugar is an addictive slow poison and can destroy your health.
  3. I will eat fewer carbs. The SEBI multicap approach would work great for a diet. From 70-80% carbs, why not reduce to 25%?
  4. I will stop or at least reduce eating out – too much sugar; too much salt; what is good on your tongue is often terrible for your body.
  5. Rain or shine I will exercise for one hour a day. I will also double this time to think about my life and to process diverse thoughts. Don’t touch that mobile or headphones!
  6. I will recognise the importance of inflation and stop obsessing about ‘regular income’ or pension.
  7. I will list my financial goals first, plan a strategy and then worry about investments.
  8. I will recognise the returns I need for my financial goals and invest accordingly.  I will not madly chase after returns.
  9. I will ensure all my tax planning is perfectly aligned with my goals.  I do not care whether it is April or November; my tax planning depends only on my goals, for which I invest all through the year.
  10.  I will not search for a ‘good pension plan’ or a ‘good child plan’. I recognize that a good plan is the only one I make based on a diversified portfolio.
  11. I will not worry about my mutual fund holdings each time the market slumps. The secret to building wealth with equity is patience and consistent investing regardless of market conditions.
  12. I will not stop my investments because the market is at an all-time -high or wait for a dip.
  13. I will learn to analyze investments beyond returns in a goal-based manner…
  14. Once my basic fortifications (insurance, emergency fund) and savings and investments are in place, I will only look at my portfolio once a year for a review. I will also “graduate” from reading/viewing personal finance content, particularly.

Happy investing in 2022!

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