5 Best Financial Goals 2025: The new financial year can be a good opportunity to make financial strategies and implement them so that we can make maximum use of our money and also save money. Today, we will discuss some simple financial rules that can lead to a secure financial future. These rules can help you manage your money wisely.
Table of Contents
1. Follow the 50-30-20 rule For Best Financial Goals 2025
50-30-20 is one of the simplest budgeting rules. In this, the take-home salary is divided into three parts. 50% of your income should be spent on basic needs. 30% of the amount should be spent on your hobbies, and 20% should be invested in savings and investments.
2. Savings-Investment for Best Financial Goals 2025
Under this, it is suggested to save and invest 20% of your income in the first week of the month itself. Apart from this, wait for a week before making any new purchase. If even after a week you feel strongly about its need, then only go ahead.
3. Plan to Emergency Fund: Best Financial Goals 2025
To deal with emergencies, the emergency fund should be at least six times the monthly expenditure. For example, if the monthly expenditure is Rs 50,000, then keep Rs 3 lakh in the bank account. This ensures that the amount invested for financial goals remains safe even in an emergency.
4. Finance Control: Keep Debt Under Control
The total EMI you pay for the loans you have taken (home, car or personal loan, credit card) should not exceed 40% of your take-home salary. If your take-home salary is Rs 1 lakh, the EMI should be less than Rs 40,000.
5. Take Life Insurance Policy
Life insurance plays a vital role in the financial security of the family in your absence. For example, if you earn Rs 5 lakh annually, then as per the 20 times rule, you should choose a term insurance plan with a coverage of Rs 1 crore.
6. Follow the 72 Rules for Money Counting
You can calculate when your money will double by dividing the rate at which you are getting returns on your investment by 72. According to this rule, if you get 12% interest annually, then 72/12=6 According to this rule, your money will double in 6 years.
7. Investment Tip: Best Financial Goals 2025
Risk Testing To know how much money to invest in risky assets like equities, subtract your age from 100. If you are 32 years old, 100-32=68. That means 68% of the money should be invested in the stock market and 32% in safe assets like debt or FDs.
Don't let your financial literacy journey stop here! Join us on April 16, 2025, for a FREE Investing for Your Dreams webinar and dive into the basics of investing to jump-start your financial goals. Pick the time that works best for you and register here: https://t.co/90BxoeptJx pic.twitter.com/pm6XVgJnNf
— Mountain America CU (@MountainAmerica) April 11, 2025
8. Retirement Planning
Start retirement planning early to build substantial wealth. Some retirement saving options in India are: National Pension System (NPS), Employees Provident Fund (EPF), Mutual Funds (SIP for Retirement)
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗