Less debt, no FOMO and structured investing: your 2026 money goals
The start of the year is a good time to make a resolution to get your finances in order, but start by setting the right goals.How you frame your resolutions is crucial to your likelihood of achieving them.People “with approach-oriented goals were significantly more successful in sustaining their New Year’s resolutions compared to those with avoidance-oriented goals,” according to one study by a professor of psychology at Stockholm University, Sweden, and others. So, come up with goals about what you want to achieve rather than something you wish to avoid.Think: I will build an emergency fund, rather than: I want to avoid a financial crunch.Another key is to start with a small step.“You can’t just randomly, on 1 January, change yourself,” said Krishna Rath, a Bhubaneshwar-based registered investment adviser with the Securities and Exchange Board of India (Sebi).
If you keep too big a target, it can create a mental block.“Never attempt to go the whole hog immediately. It will be challenging and daunting,” said Steven Nelson Fernandes, a Sebi-registered investment adviser and founder of Proficient Financial Planners in Thane.As an example: “If you have not been saving at all, start with a 5% to 10% savings,” said Fernandes.
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