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5 ways to create a fin-tastic life this Diwali

A clean break, a true new start, who wouldn’t want that?

Have you spent the weekend or more in Diwali cleaning? Well, it isn’t just about your home. This festive season, extend your Diwali cleaning to sort out your finances and get your life in order. Look at it as an opportunity to enable your life with the resources you have.

Here are five simple steps to get started:

(1) Assess the situation: You know how you take the full health check up, every once in a while? Maybe before you go on a new diet regime? Because if you don’t know how your body is, how would your doctor treat it right? Your finances are no different. Before you start putting things in order, take a good look at how you handle your money. Do you spend it all too fast every month? Do you track your spending? Are your documents scattered? This is info you must have, before you straighten anything out.

(2) Create a system, not knowing what is happening with your money can stress you out. Today more than ever, it is easier to keep all your finances organised. Track your expenses using the app that most suits you. You don’t have to reinvent the wheel — ride on the advantages you have and just fill in details. This way you have a method which shows where all the money that comes in and where it goes!

(3) Spend after you save: Ok don’t hit a snooze button on us. Saving is a no-brainer and a must. You’ve probably heard that a million times — that’s only because it is so critical! Do you feel like you don’t have enough to save? Do you notice yourself saving after spending? Try the opposite: spend after you save. Make a plan for your income before it comes, account for your essential expenses and save a good portion of your income regularly.

Make a plan for your income before it comes, account for your essential expenses and save a good portion of your income regularly.

Keep the credit cards clean, even with the number of temptations you might have. Banks are falling over themselves to give anyone with an income a credit card. With all the sale offers, points and EMI payment options, credit lines seem useful to have, but there are ways to use them right. Do you go over your limit and pay interest to the very banks that offered you cards? A smart way to use the card is to spend it only as much as you can clear the bill at every cycle.

A smart way to use the card is to spend it only as much as you can clear the bill at every cycle.

Swipe away the debt. Do you owe anyone money? Is it interest free money borrowed from friends? Do you have bank interest for things that you bought or a personal loan? You may not clear all debts this Diwali, but make a plan to pay your loans. Make an order for which loans you want to pay and also how to arrange for the money to pay them.

Cleaning, whether your home or finances is great for sorting your life — and feeling fresh and energized. Decluttering is also known to give you clarity and peace. Whichever reason you chose to do it for, we wish you a clean and efficient financial start this Diwali.

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