Financial Resolutions to make in 2018

As the year 2017 coming to an end, it’s a great time to look back and note down the mistakes we made in the passing year to avoid them in the coming year. Many make various resolutions to follow in the coming year but fail to complete. But there is one type of resolution which everyone should follow to have many amazing years ahead. It’s not a short term but a long term resolution type. To avoid the mistakes we made in the passing year and to start afresh in the coming year, having a list of New Year’s financial resolutions comes handy.

But you don’t need to grab a pen and paper to make such a list. Ruloans presents you ‘2018 Financial Resolutions’ list:


Start maintaining daily finance diary

Every day before going to sleep make sure that you right all the expenditure you made in the day. This might seems a boring chore or you may think that I’ll do it on weekly basis, but don’t think that. It becomes really difficult to remember where and how much you spent your money. Make sure you write even the minor expenses like tea, chocolates or even the riksha fair. Writing your daily expenses like this might irritate you but surely help you to plan your expenses in better way. You’ll realize where you are spending more and where to cut down unnecessary expenses.

Go online

As India is embarking on the ladder of making all the financial activities online, then why you are lying back? Start using phone and internet banking. Use mobile wallets whenever you can. Apply for a credit card or start using your debit card to pay your utility bills online. Opt for mobile wallet payments or net banking or debt-credit card payments instead of COD (cash on delivery) when you shop online. Using online wallets or cards or internet banking can many times help you get discounts, bonus points as well exciting cash backs.

Start investing money smartly

Many people make this resolution every year but fail to complete it. So to avoid any failure, choose a monthly investment plan which will deduct a specific amount from your account every month electronically. This way you can get used to the concept and notion of savings. If you are already saving a specific amount of money every month, try to increase that amount of savings this year. Choose mutual funds, shares or recurring account as per your needs.

Build an emergency fund

It doesn’t matter if you are doing regular savings or not, make sure that you have an emergency fund. Every month keep aside a specific amount of money as your emergency funds. You can use it for emergency medical needs, to pay some dues which you forgot to pay or any other emergency purpose. It doesn’t matter how big or small the amount is. Make sure that you have an emergency fund for yourself.

Try to pay your old debts first

You may have one or multiple debts from the year 2017. Be it’s a loan taken from a bank or NBFC, due credit card payments or small amounts borrower from family and friends. Make sure that you pay off your debts. Start from your old debts. The older the debt is, the more interest rate you have to pay with. So get read of those piling old debts and starts afresh.

Start saving for retirement

The cost of daily expenses in India is increasing as the year passes by. The inflation is always fluctuating. As you grow old, you can’t guarantee that it will come down and you may get to pay lesser amounts for daily utilities. It may get very expensive. So it doesn’t matter whether you are a salaried employee or a self employed or a businessman; it’s always safe to have a retirement fund ready when you touch 60. To avoid asking your kids or some other relatives for money to pay your bills, start planning your retirement now! The sooner you do that, the wiser you will be proved!

Take small loan or credit card to build a credit score

When you try to take a huge loan, banks and NGFCs check your credit score. Without a strong credit score many financial institutions may reject your loan application. That’s why start building a strong credit score now for your future needs. You can get a credit card or even a small personal loan to do that. But make sure you pay it off on time.

Include your family into your savings

If you have a family who earns, make sure that you include them too in your savings. Even if they are not working and earning, involve them in your monthly finance planning. Take their opinions and ask them to help you with savings as well.

Set financial goals

Make a chart or graph of your finance goals for 2018. Include points like savings, expenditure and extra earnings. Work hard to earn more money or invest your money at smart places where you can get attractive interest rate. Set a financial limit of expenditure. Stick to these financial goals.


When you find yourself in need of funds, Ruloans always helps you to borrow right from many banks and NBFCs. We understand the need of money plays in people’s lives. The way you earn and enjoy your funds, try to share the same joy with people who are not that privilege. It doesn’t matter how much you decide to donate, make sure that you do. It will give you peace of mind, positivity and a sense of goodness that you are doing something positive for your society. Giving back to the society is always considered as a sign of kindness.

To get a personal loan this New Year, click here!

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