Financial Goals You’re Probably Ignoring (And How to Fix Them)

By Admin

• 07 Aug, 2025

Financial Goals You’re Probably Ignoring (And How to Fix Them)

Most people think financial planning is only about saving money or investing in a SIP. While that’s a good start, many important financial goals often go unnoticed — until it’s too late. Let’s fix that.

🔍 1. Emergency Fund – Your First Line of Defense

Why it’s ignored: Many individuals believe their salary or income stream is secure, or they assume insurance will cover emergencies.

Why it matters: A job loss, health emergency, or unexpected expense can derail your finances without a backup.

How to fix it:

• Build a fund worth 3–6 months of expenses

• Park it in a liquid fund or high-interest savings account

• Don’t touch it unless it’s a real emergency

🎓 2. Children’s Education Planning

Why it’s ignored: It's a long-term goal and often pushed aside for immediate needs.

Why it matters: Education inflation is rising rapidly — you could be looking at ₹50L–₹1Cr for higher education in 10–15 years.

How to fix it:

• Start early using SIPs in equity mutual funds

• Use goal-based calculators to estimate future costs

• Consider a child-focused investment plan with tax benefits

🏠 3. Retirement Planning (Too Far to Worry?)

Why it’s ignored: Young investors believe retirement is too far away to think about.

Why it matters: The earlier you start, the less you need to invest each month to reach your target.

How to fix it:

• Begin a retirement SIP as early as your 20s or 30s

• Choose NPS, PPF, or equity mutual funds

• Use a retirement calculator to set a monthly goal

💳 4. Debt Repayment Strategy

Why it’s ignored: Paying EMIs feels like enough — no strategy involved.

Why it matters: High-interest loans like credit card debt can eat into your future wealth.

How to fix it:

• Use the Avalanche Method (repay highest interest loans first)

• Consolidate debt if needed

• Don’t just pay minimum due

🧾 5. Tax Planning – Not Just in March!

Why it’s ignored: Most people do last-minute tax-saving investments without planning.

Why it matters: Planned tax savings give better returns, less stress.

How to fix it:

• Spread your tax-saving investments throughout the year

• Explore ELSS, NPS, life insurance, and home loan benefits

• Don’t over-invest just to save tax

🎯 6. Insurance (Term + Health) – A Must Have

Why it’s ignored: Many people think employer-provided insurance is enough.

Why it matters: Inadequate coverage can leave you or your family vulnerable.

How to fix it:

• Get term life insurance worth 10–15x your annual income

• Buy a health policy apart from your company plan

🧠 Final Thoughts

Financial planning isn’t just about growing money — it’s about protecting it, allocating it smartly, and preparing for uncertainties. Start fixing these ignored goals now, and you’ll thank yourself later.

📞 Need Help Building Your Investment Plan?

📧 Email: contacts@proshieldinvest.in
📞 Phone: 011-69290568
🌐 Website: www.proshieldinvest.in