How to achieve your financial goal for year 2015

Achieving financial sustainability is a goal for everyone though it requires serious efforts to attain the desired financial goal. You can plan and achieve the goal in year 2015 while considering following tips:

1.     Preparing Expense Chart: Evaluating your present financial situation.

-         Differentiate your regular expenses like rent, petrol, mobile bills, and electricity ext. with non-regular expenses like outside parties, movies, shopping, outside meal ext.

2.     Identifying the area of saving and cost cutting:

-         Saving on regular expenses

-         Finding cost effective alternatives

3.     Natural Habits e.g. smoking, drinking and any other expensive hobbies.

-         Intelligently plan to quit some unwanted habits

-         Limit/Set achievable  targets to meet your above goal.

4.     House savings :

-         Do minor house repairs by your own instead of employing outside manpower

-         Taking specialised services for cooking, washing & cleaning. At least reduce to minimum extent.

5.     Savings :

-         Commit yourself each month to a certain amount to be deposited into long term saving plans e.g. retirement plan, SIP and mutual fund ext.