April has just begun and so has the new financial year. It is the perfect time to review all your investments and plan for the future. Apart from just reviewing your portfolio, there are a lot of other things which one must do while entering the new financial year for a fruitful time ahead.
Here is a list 7 moves you should make in order to create wealth;

1. SIP IN ELSS FUNDS
Systematic investment plan or SIP is the keyword these days in the investment market. We have all just got over the ‘Tax’ period devoting a lot of our time towards managing the taxes and investing in tax-saving investments. This is the time to implement all the lessons learnt. Now is the time you invest in the ELSS funds and relieve yourself of the last-minute hassles for the upcoming year. Not only it helps in saving the taxes but also lets you enjoy good returns along with combating the market volatility.
According to financial experts, the short-term performance should not be a measurement criterion while mapping the ELSS fund returns. The lock-in period of three years is self-rewarding.

2. ADD IN TO YOUR PF CONTRIBUTION
If you are enrolled for a provident fund contribution by your employer, this is time to ask for a bugger chunk deducted under the VPF i.e. voluntary provident fund. This earns the same return and tax-benefit as provident fund. VPF offers the maximum debt fund benefits at the minimum risks. If you compare the VPF returns to a bank FD, there happens to be a great deal of gain in case of VPF. Although many newly established banks are offering excellent returns on FDs, the post-tax returns come about to be quite less. This is not in the case of VPF.
And the most significant thing about VPF is that it is deducted from your monthly salary even before you get it in your hand, you will not even realize the amount being deducted afterwards.

3. INVEST THAT INCREMENT
This is the time most of us are getting that long-awaited-yearly bonus or increment. As the salary increase, so does our expectations, living standard and expenses but what remains constant or forgotten is the investments part. Longings never end, you need to get over them. If not all of it, invest a part of your bonus. Starting a SIP is not a major thing but growing your SIP counts. Make is habit if increasing the amount of your investment every year at the time of your increase and reap the benefits you wish to.

4. PLAN YOUR RETIREMENT- NPS
Nation pension scheme is an excellent initiative of the Government of India which empowers us to plan and save for our retirement. A 60% of the corpus deduction has been made tax-free in the NPS plan. This is the best scheme in market for retirement savings as per financial experts.
All you need is KYC compliance to open an NPS account. Simply get registered at the NPS portal and start investing through net banking in the eNPS account.

5. BE SLOW AND STEADY
Although as I said earlier, it is the time to plan your taxes for the upcoming year but making all the investments you plan to right-away is not right. All the announcements made in the budget in month of February 2019 are effective as on April 1st but there are chances that some changes may occur in the full-year budget announced in July every year. It is advisable to save some of your plans for then.
For instance, people who fall under the below 5 lakh annual bracket need not make any tax-saving investments at all. So, wait for the final budget to be declared and be pro-active with your approach.
One thing to keep in mind this time is, not to make any lump sum investments which claim tax saving. You will need that flexibility if there are any changes announced in the July budget.

6. BE PATIENT
If you are some one whose salary goes slightly upwards of 5 Lakhs, this is the time you wait for the right moment and scheme. Be patient and vigilant while going for the tax-saving option. This is the time companies introduce newer schemes in connect with the newly introduced budget.

7. SET UP YOUR EMERGENCY FUND
One of the best advice you may right now is to invest in your emergency g=funds. Emergency funds are those which can be redeemed or liquified immediately without implying much changes to your long-term investments. Ideally, 3-6 months salary should comprise your emergency fund depending upon the size of family and salary. Although these funds may yield very less or nominal returns, their function is to be accessible in the times of emergency. Make sure you invest in such funds only when it comes to setting aside the emergency funds.

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