Financial habits to avoid this new year

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Financial Habits to Avoid This New Year
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Track Your Expenses
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Plan your budget and stick to it.
Cut irrelevant expenses like regular dining.
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Lack of emergency reserve
Set aside a portion of your monthly income for
emergencies only. habits to avoid this new year
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Avoid Fundamentally Weak Stocks
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Invest in stocks with solid financials.
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Avoiding Loan Insurance
Loan insurance covers your EMI during a
financial crisis.
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Avoiding Health Insurance
Medical insurance protects against high
treatment costs arising from various ailments.
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Not Considering Diversification
Your investment must be spread across multiple
asset classes.
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Overborrowing
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Avoid having multiple credit cards.
Never borrow more than you need.
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Avoiding Tax Planning
Always try to take advantage of the various
deductions and exemptions available under the
Income Tax Act.
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Not Reviewing Your Credit Report
Check your credit score and report once every
year.
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Following these simple tips can help you become
more financially disciplined in the new year.
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Habits to Kill Before the Start of the New Year