7 Things to Do at the Start of the Financial Year 2024

 7 things to do at the beginning of the financial year 2024

Let us begin, March Madness is finally over….and like every year people must have been happy with this financial year and many people are upset…. Many people must have missed a lot of things, but, many people must have accomplished their goals as well…… If you want everything to go well financially in this coming year, then planning from the very beginning is very important…

So, let’s see 7 such things which you should start from 1st April itself…so that you can complete all your personal and professional goals…

1 – Check asset allocation and rebalance if needed

If you want to manage your money well and in a better way, then it is very important to assess your portfolio.

For example, let’s say you made a percentage-wise allocation at the beginning of the year – say 70% in equity, 25% in debt, and child 5% in gold..but now equity has increased to 21%, Debt has increased by 5.5% and gold also by 15.4%…due to which your portfolio has become 72.5% towards equity, debt has reduced to 22.6% and gold has also increased by 4.9%, so this is the situation my rebalancing Very important..and you must do this at the beginning of every financial year, otherwise you come to know that you have come 70% to 80% in equity, and you have no idea…

2 Review Your Goals


If your goal is to buy a home or deposit the downpayment on a home loan, once again review everything – such as home loan rates, housing rates, repo rates, etc. to calculate what you will get Year how, and in what way to invest…

3 Review your portfolio once again

Long-term investing does not mean investing once and then forgetting…a periodic review is very important…and the beginning of the financial year is a good time to review your portfolio.

By doing this you will get to know which funds have outperformed, which have met the expectation, and which funds have given very poor performance… After the assessment, you will take your decision in the coming time after careful consideration and USS recovery. …

And if by chance your goal has changed, then it becomes all the more important to review the portfolio.

4 Monitor Your Insurance Again

If you have a life insurance or health insurance plan, then considering the changes in your life from last year, monitor all your insurance and also make necessary updates to it… This is for your coming year and is a must…

If you are single in the last year and are married now, then you should take coverage according to them or take some additional policy.

5 Tax Planning

Consider tax planning not at the end of the year, but from the beginning… Calculate and accordingly think about your investment options… If needed, consult a consultant too. If you invest in a product like ELSS If you do, it becomes even more important to do tax planning from the beginning.

6 Time to increase monthly investment

Ideally, you should supplement your monthly investment with 10% as you grow so that you can reach your goal faster… Also, you should consider other investment avenues where you can get higher returns, without any Of risks..

7 Prepare a budget

In the end, make a good budget for whatever you do, and spend and invest according to the budget..it is necessary to have an emergency fund also..so go after considering everything….


If you follow these steps, you will take your goal one step further..and if you follow these every year, your financial health will be very good for years to come..

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