Five Financial Resolutions for 2022

Samriddhi Volume 09 Edition 04 by ABSLMF

Financial planning has never been more critical than in the post-pandemic era. The latest edition of Samriddhi reveals five essential financial resolutions designed to help you build a secure and prosperous future. These actionable insights combine lessons learned from market fluctuations, pandemic-driven uncertainties, and growing trends like digital investing and mutual funds adoption.

Building an emergency fund remains the cornerstone of sound financial planning. Experts recommend maintaining at least six months of expenses in liquid, safe instruments such as sweep-in deposits or liquid funds to protect against unforeseen crises. Prioritizing health insurance and pure term insurance safeguards you and your family from unexpected medical and life risks.

In today’s volatile market environment, avoiding attempts to time the market is vital. Instead, adopting a disciplined approach with Systematic Investment Plans (SIP) allows you to benefit from rupee cost averaging and long-term growth through equity savings funds, flexi-cap equity funds, and index funds. Proper portfolio diversification across asset classes like debt funds, hybrid funds, and Sovereign Gold Bonds (SGBs) ensures risk mitigation and inflation-beating returns.

Budgeting and credit card debt management are essential to maintain financial health. Controlling expenses and resisting impulse spending prevents high-interest debt traps. Additionally, preparing a will and nominee is crucial for seamless wealth transfer and peace of mind.

The guide encourages promoting women financial independence and financial inclusion by increasing participation in investment avenues such as Equity Linked Savings Scheme (ELSS) and tax-saving investments. It also warns against distractions like investment noise and volatile trends such as cryptocurrencies, advocating instead for steady passive investing and investment habit formation.

Start your financial journey now because the second-best time to plant a tree is today. Achieve your financial freedom goals through informed, consistent steps and digital tools that simplify mutual fund transactions, like the MFCentral platform from Aditya Birla Mutual Funds.

Key Insights:
• Emergency fund of 6+ months’ expenses is vital for financial security in uncertain times.
• Adequate health insurance and pure term insurance protect against medical and life risks.
• Avoid market timing; prefer Systematic Investment Plans (SIP) to leverage rupee cost averaging.
• Portfolio diversification minimizes risks, combining debt funds, equity funds, and Sovereign Gold Bonds (SGBs).
• Budgeting and controlling credit card debt improve financial discipline and credit health.
• Promoting women financial independence enhances inclusive growth and investment participation.

Takeaways:
• Build an emergency corpus for financial resilience.
• Prioritize life and health insurance to safeguard your family.
• Use mutual funds and digital investing tools for efficient wealth creation.
• Stick to a budget and avoid impulse control pitfalls.
• Maintain a long-term focus through passive investing and avoid investment noise.
• Review your investments regularly and adjust strategies accordingly.

Why Download This Edition eBook?
• Gain actionable financial planning resolutions aligned with real market insights.
• Understand how to build a strong emergency fund and secure your future with proper insurance.
• Learn to navigate market volatility through disciplined SIP and portfolio diversification.
• Get expert advice on managing credit card debt and budgeting for sustainable finances.
• Discover the importance of women financial independence and financial inclusion.
• Access simplified, tech-driven investing solutions powered by Aditya Birla Mutual Funds.

Download Five Financial Resolutions for 2022 | Samriddhi Volume 09 Edition 04 and take charge of your financial future!

Disclaimer:
The Tax calculation shown above is for illustration purpose and general information only. Amount(s) mentioned above may undergo a change if assumptions specified herein do not hold good. Investors are advised to read the scheme information document of the scheme carefully before investing and consult their Tax Consultant or Financial Advisor to determine tax benefits applicable to them.

An Investor education and Awareness initiative of Aditya Birla Sun Life Mutual Fund.
All investors have to go through a one-time KYC (Know Your Customer) process. Investors to invest only with SEBI registered Mutual Funds. For further information on KYC, list of SEBI registered Mutual Funds and redressal of complaints including details about SEBI SCORES portal, visit link : https://mutualfund.adityabirlacapital.com/Investor-Education/education/kyc-and-redressal for further details.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
म्यूचुअल फंड निवेश बाज़ार जोखिम के अधीन हैं, योजना संबंधी सभी दस्तावेज़ों को सावधानी से पढ़ें।