How To Prioritise Your Various Personal Financial Goals

By Kishore Sabareeshan | October 1, 2019

Wondering how to juggle all your various financial aspirations? Here are some tips that can help you prioritise your needs seamlessly.

How To Prioritise Your Various Personal Financial Goals

Humans are complex and unique beings. Each of us has a set of individual aspirations and goals. However, there are certain things that apply to all of us – these are basic aspects of life. While we must continue to be in pursuit of our dreams, we should also ensure our basic needs are being met.

If you’re confused about what these basic needs are or which ones are more important than the others? Read on and find your answers right here!

Additional Reading: How To Automate Savings And Investments

Invest In Your Well Being

Nothing else can add value to yourself if you’re not physically and mentally healthy. This is why it pays to invest time and money in exercise, yoga, sports, or whatever floats your boat. Similarly, investing in your hobbies can keep you mentally stimulated and fresh. As a basic need, your well being is certainly a priority, so budget your expenses towards them and don’t view this as a cost centre.

Save For The Future

You don’t want to spend your whole life working 9-5 just to sustain your quality of life, right? Start saving; start small if that’s all you can do for now – the point is to get into the habit. Once you do, you can gradually increase the monthly amount directed towards saving. As cliche as it sounds, a rupee saved is indeed a rupee earned.

Additional Reading: 6 Common Budgeting Blunders And How To Fix Them

Create Wealth

Sure, you’re earning, but is there more you can do with your money? Yes. Explore fruitful investment platforms and maximise the amount of wealth you can accumulate. This will give you a good cushion for when you really want to spend on something valuable. You could consider Mutual Funds or even open up a Fixed Deposit account.

Invest In Experiences

It’s nice to have nice things, but experiences go way beyond them. Never put off a vacation just to save money for something you’ve been wanting to buy. Travel, experience different cultures; sure, it’ll cost you, but the learning you’ll get will surely be immense. Travel has the power to change you as a person and help you develop a worldly view about everything around us, so do make it a point to cut off from your routine and actually live your life. Earlier, vacations were always viewed as luxuries, but at this day and age, they play a huge role in keeping your mental health up and running. Besides, travel makes you a more interesting person.

Additional Reading: Money Management 101

Build A Credit History

Credit has always been given a bad name when it comes to money, but few people know the value of maintaining a good credit history. If you want to secure a robust finance future, you’re going to want to build a credit history. How do you do that? Get a Credit Card, use it well and check your Credit Score regularly.

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