Make This Year Count With Smart Financial Resolutions

As we step into 2025, financial resolutions take centre stage in shaping long-term security. To guide investors, Aditya Birla Sun Life Mutual Fund, in collaboration with Outlook Money, hosted a webinar featuring K.S. Rao, Head – Investor Education & Distribution Development, Aditya Birla Sun Life AMC Ltd.; Amit Trivedi, Author & Financial Educator; and Kiran Telang, Certified Financial Planner and Author, moderated by Nidhi Sinha, Editor, Outlook Money. The discussion provided practical strategies for setting and sustaining financial resolutions.

Why Financial Resolutions Matter

Rao compared financial resolutions to a GPS, helping individuals stay on track. “Resolutions help us reflect, renew, and recalibrate financial goals,” he said. As this was one of his final official webinars before retirement, he also reflected on his journey of educating investors over the years.

Personal Financial Resolutions from Experts

Each panellist shared their resolutions for the new year. Amit stressed the importance of reviewing past resolutions before making new ones. “Many start strong in January but lose focus. My resolution is to audit my past five years of resolutions and improve.” His personal goals include reading 30 books and re-evaluating finances.

Kiran highlighted the significance of continuous learning, particularly in behavioural finance. “I plan to deepen my understanding, as it plays a crucial role in guiding clients.”

Rao introduced his HBR framework—Health, Books, and Review—as his focus areas. “I am prioritising health, transitioning from reading to writing books, and ensuring regular financial reviews,” he said, underscoring the importance of retirement planning, debt management, and estate planning.

Age-Specific Financial Resolutions

• For Young Professionals: Amit advised budgeting wisely, cautioning that first salaries often lead to impulsive spending. “The smartest resolution? Choose where your money goes.”

• For the Sandwich Generation: Kiran urged middle-aged individuals to reassess finances, balancing responsibilities for children and ageing parents. “This phase brings high financial demands—education, healthcare, and retirement planning.”

• For Seniors & Retirees: Rao stressed the need for financial security. “Retirement isn’t about stopping; it’s about ensuring financial stability.” He recommended maximising retirement income and managing healthcare costs.

Beyond Financial Resolutions

Both Kiran and Amit advocated looking beyond finances. “Financial security is important, but so is personal growth and kindness,” said Kiran. Amit added, “No financial goal is meaningful without a balanced mindset and personal happiness.”

Rao summarised the discussion with his 5G framework:

Guide – Seek financial mentors.

Goals – Set clear objectives.

Governance – Track progress consistently.

Gratitude – Appreciate what you have.

Go Ahead – Take action and commit.

Final Thoughts

As the session concluded, Rao reinforced that financial resolutions must be actionable, regularly reviewed, and aligned with life’s evolving needs. Whether you are a young professional, middle-aged, or retired, staying committed to financial goals is the key to long-term success.

Here’s to a financially secure and well-planned 2025!

Disclaimer: This webinar is an investor education and awareness initiative by Aditya Birla Sun Life Mutual Fund in collaboration with Outlook Money.