New Year Resolution

I will lose Weight,quit Drinking, get a new Job, plan exotic Vacation, read Books, spend less time on Facebook, run Marathon, do Charity… and the list goes on 😉

Let me introduce you to one more resolution, i.e. “Financial Reboot”.

Just imagine, you have a button on your computer– “Reboot Finances”, by clicking it, you have the answers to all your financial worries… RESET.

Sounds great! Now you must be wondering, how?

I call “Financial Reboot”, the one hell of a resolution, as I am not proposing to cut cost or even save more, just making you to organize your finances, based on everyday financial worries.

My credit card payment is due- pay up your outstanding’s fully, as you are paying upward of 36% annual interest&believe me, it’s a crime to pay such kind of an interest.

EMI’s sucks… Loans in hand- check the interest you are paying currently. If same is upward of 9%, just go & demand a lower interest rate from your bank or shift (if they don’t agree).

Emergency fund or continue calling Dad?- Emergencies do not come with an invitation. One should ideally have a reserve of 6 to 12 months of income, parked in a Bank Fixed Depositor a liquid/debt Mutual Funds.

Do I really need a Life (Death) cover? – Yes, you do need a cover.Life cover in crude language means death cover (Term insurance plans), where money is paid to the dependent because of death.

I want to save more. (Monthly savings) – My belief (I have also learnt later the hard way), savings must be deducted First, from your in-hand income, and whatever is left behind, should be used for your expenses & leisure later.

Investments,where & how? – Finally, there is no right or wrong investments. Whatever you decide, logic to be followed should be based on, a) the purpose of investment (retirement, kid’s education etc.), b) when do you require the money (future date) and c) the future value (inflation adjusted, on current cost). is one such advisory firm, where we help customers on all the above points.

Cheers to a New Year!!

Manoj Chahar
Founder & Storyteller at
Manoj is the founder of, with 15 years of corporate experience & expertise in financial markets. Manoj has corporate stints with Kotak Securities, IIFL group & Philips India. He holds an MBA (PGDM) degree from Symbiosis (SIMS) Pune.
His interests include birding & adventure activities.

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