Ideal Personal Finance Checklist for the New Year

As the new year begins, it has become a trend for different websites to publish articles and ask users to create their

We have created a checklist which can be easily implemented by any earning individual.

My new Year Check list:

  1.  I will create a contingency Fund by making FD or investing in to Liquid Fund up to min 3 months of my Income .
  2. I will review my Health Insurance & increase it to min Rs.20 Lakh  up to Rs. 50 Lakh . (Rs.5.00 Lakh is not enough).
  3. If I am below 45 & do not have Term Insurance  than I am Under Insured . If my age is above 45 & created  enough wealth than I do not require any insurance .
  4. I will stop paying premium for all long term traditional policies maturing after 2020 which will automatically go to paid up mode.
    The amount saved has to used to invest in MF to make my journey fast .
  5. If due to health if I cannot increase my Term or health Insurance at least buy Personal Accident & a hospital cash policy as it doesn’t require any medical test .
  6. I have opened an NPS account to get additional tax benefit of Rs. 50k over & above Rs.1.50 Lakh.
  7. I have at least one SIP in each members name in Equity MF.
  8.  As a part of wealth protection whether I have covered my House & office ?


To start your implementation, you can log on to and create your own account and start implementing.

Bhushan Sheth
Bhushan Sheth
He started his career as a Banker with Bank of Maharashtra for 12 years. By the year 1994, He had the entrepreneurial urge and the desire to serve individuals not only as a Banker but as a Financial Advisor. He became an entrepreneur for distribution of entire range of financial products. The business growth was immense and simply unstoppable. During his new career he achieved the glorious milestones of becoming MDRT with LIC of India, COT of LIC of India, and MDRT with Birla Sun life Insurance co, and won impeccable reputation of being a financial advisor with Ethics, Efficiency and Excellence. By the year 2005 he felt a need to grow more professionally and serve the ever growing clients on wider scale in more organized manner. So a he created brand new organization ORBIT Financial Services. He moved to a higher ORBIT! Orbit is independent financial advisory company with client base of over 3000 investors. At Orbit, Our objective is to give complete financial planning solution. Financial planning is must in these times of volatile markets, nuclear families, increasing cost of living, educational and medical expenses, uncertain retirement benefits, low returns on deposits and greater life expectancy levels. At Orbit we understand your needs, analyze your risk appetite and plan your investments to meet the financial goals you hope to achieve moving forward.
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Showing 2 comments
  • Karik

    I thought I’d have to read a book for a diocvsery like this!

  • Addy

    You write so hosnetly about this. Thanks for sharing!

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