Bangalore: As they say, life is unpredictable, thus it is good to take a little bit of precautions. Rising Inflation gives us a warning to keep a check on your income sources and spending. Your wrong financial decisions and bad investment may lead you to the roads of poverty. To defend these, it is better to take few financial resolutions this New Year that would eventually take you towards the path of stable financial Security as listed by BankBazaar.com.

1. Make a note of your income sources and expenses

Start off by preparing your own financial statements to know where exactly you stand financially. The checklist should include your income sources, your investments, monthly expenses, insurance policies and so on. It will be even better if you have complete details of each. Jolt down all the interest paid and the EMIs, in case if you have borrowed any loans, on each. This is one important step towards your financial well being because if you are do not know your present financial situation, planning for future will not make any sense. So, this New Year, preparing a financial checklist is one important resolution each individual should take.  

Read More:

RBI Norms For Foreign Banks Are A 'Valuable Step': USIBC

RBI Likely To Hold Rates On January 28 Policy Review: Report