As we step into the promising year of 2024, we need to focus on what is relevant to us for the longer run as well including the pivotal role of money in our lives. It is believed by the ancient philosophers that individuals should make 5 crucial promises to themselves, aimed at fortifying their financial foundations and paving the way for a more secure and prosperous life.

1. Savings

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Many individuals fall into the habit of spending all that they earn, leading to financial instability. To combat this, make a solemn promise to save at least 20 percent of your income without fail. This commitment to savings acts as a financial cushion in times of need.

2. Investment

Another pledge to undertake is a commitment to invest. Philosophers emphasized that true financial growth is attainable through wise investments. Explore various investment plans that can potentially convert your savings into capital. Discipline in investment practices is key, and adopting this habit promises to build a substantial financial portfolio over the years.

3. Job Stability

While the pursuit of better-paying jobs is natural, Philosophers advised against frequent job changes, which can adversely impact one's professional profile. The third promise for the New Year is to prioritize job stability. Consider factors such as job location, profile, tax implications, and facilities before deciding to change jobs. A well-thought-out approach ensures career growth without unnecessary complications.

4. Responsible Borrowing

The fourth vow involves a commitment to managing debt responsibly. With the prevalence of credit cards and various loan options, it's easy to succumb to unnecessary financial burdens. Promise to use credit cards judiciously and only when necessary. Additionally, commit to taking loans only in cases of absolute necessity, avoiding unnecessary debt accumulation.

5. Timely ITR Filing

The final promise is a commitment to filing Income Tax Returns (ITR) diligently and within the stipulated time frame. It is essential to understand the importance of this responsibility, highlighting the penalties associated with late filings. Pledge to fulfill this obligation on time to avoid any financial repercussions.

In embracing these five promises, individuals can embark on a journey towards financial resilience and prosperity in the coming years. As the New Year unfolds, let these resolutions serve as a roadmap to a more secure and stable financial future.