Bangalore: As they say, life is unpredictable, thus little bit of precautions won’t do any harm.  Inflation in each and every sphere of life like health care, education and standard of living had become a mounting factor. To fight with this, few financial resolutions this new year will aid you. Riju Mehta from ET has come with some guidelines to save, invest and make profit in 2013:

More: Best Stocks to Buy in 2013

1. Know Your Assets and Liabilities First

The key to any successful plan depends on the basic ideas. Only after you calculate your net income, the risk taking and investing ability can be evaluated. It will also help you to identify the line between your assets and liabilities.

You know your risk taking ability better than any one does. If you get jumpy every time the Sensex goes into a plummet, investing in equity shares and debentures is not your option. Mutual funds are quiet a safe approach to take introduction to stocks.

Also Read: 10 Best Mutual Funds For 2013