IDFC FIRST Bank
As you step into 2024, here are some financial resolutions that can help you manage your family’s finances.
Expenses tend to rise with the addition of a child. So, cut down on unnecessary expenses to factor in the added cost of raising the child.
Start planning for your child’s financial needs. This will help you save in small amounts and create a good corpus over a long-term horizon.
If you have existing loans, try and pay them off to reduce the debt burden and free your disposable income to save more.
Life and health insurance plans can take of unforeseen financial emergencies due to premature demise or medical complications. Invest in them.
Try and set aside 3-6 months’ worth of your income in an emergency fund for unforeseen and sudden expenses.