OneInsure Blog
Post By Mariya Panwala
5 Major Financial Decisions You Need to Make This Dhanteras
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Dhanteras 2017, Diwali 2017, Financial strategies
Dhanteras is just round the corner, and like every year this year too, people will be flocking to the stores to spend the money that they have been saving all this while for this special occasion. They’ll buy gold and silver jewellery, utensils, electronics, appliances and other stuff to mark the importance of the day. However, this Dhanteras, we suggest you break the norms. And can it be any better if it is for your own financial security? Yes, we at OneInsure, have come up with a list of 5 major financial decisions that you need to make this Dhanteras for a financially secure future. Read on to know what this list consists of.
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Clear off your outstanding debts
So, you have 2 things –
- Buy stuff for Dhanteras because you have been doing that all these years as part of the tradition
AND - An outstanding financial debt to be
Ideally under these circumstances, you need to go for the second option. You cannot welcome something new until you clear the path for it, right? So, this Dhanteras, say goodbye to your old debts and start afresh your New Year with no hoardings of debts from the past.
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Cut off unnecessary expenses
This festive season, watch your expenses. We are not suggesting you to not celebrate the occasion but be careful of what you’re spending on. Look for alternatives, compare, think economically, be a wise buyer. This will in turn help you create a significant wealth (Dhan, remember?) in the long run.
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Get yourself covered
This is the most important financial decision that you could make this Dhanteras with whatever little savings you have. Get yourself covered i.e. buy an investment cum term plan so that should something happen to you, your family receives the financial benefits from the policy or you get the sum assured when the policy matures.
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Get a health cover
Hospitalization expenses these days can shell the monster out of a person’s pocket. To make sure that you have an adequate back up to take care of such sudden financial emergency, get yourself a health cover. A health cover that is comprehensive i.e. covers all pre and post hospitalization expenses along with the hospital room rent and medicine cost.
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Stick to your financial plans
This is very important because Suze Orman once said (if you’re wondering who this is – She’s a renowned American financial advisor), “No one’s ever achieved financial fitness with a January resolution that’s abandoned by February.” So, stick to your financial plans, do not dig into your savings or investments until it’s an emergency.
And that’s it! We hope you have a great year ahead that starts with financially sound decisions. In case you need further insights on any of the suggestions given above, do reach out to us at support@oneinsure.com or at 86559 86559. Experts at OneInsure will be keen to help you and guess what, they don’t charge as well. So, make that smart move today and secure your financial future. And yes, Happy Dhanteras, Happy Diwali.
