3 Simple Financial Steps To Take This April (That Aren’t Just ‘Make a Budget’)

It’s the start of a new financial year. You’re probably already knee-deep in work deadlines, summer vacation planning, and wondering how it’s already April after the January that lasted 3 years. But as you finally sink into 2025, I want you to know that this is the perfect time to clean up your financial life—and no, I’m not going to tell you to “make a budget.”

This year, let’s skip the spreadsheets that see activity for 2 days and focus on three simple things that will actually make your money work better for you.

Think of it as financial hygiene with real results. You can knock these out over a weekend, and they’ll leave you feeling more in control (and maybe a little smug).

Download your Form 26AS or AIS report

Ever wonder what the Income Tax Department already knows about you? They’re not guessing—it’s all documented in your Annual Information Statement (AIS). These reports give you a complete picture of your taxable income, TDS deductions, interest earned, mutual fund redemptions and other large financial transactions you may have done. It’s like your financial mirror. And whether or not you’re ready to look, you better believe the tax authorities are peering straight into it.

Why it matters: Think of it as a financial self-check. Before diving into new investments or tax-saving moves, you need to know your starting line. How much money have you made in the last year? What were your big transactions? This is the easiest way to get a single look into all the action that your bank account witnessed.

Besides, this is also the best way to see what the tax man knows, so you’re way better prepared for filing your returns.

How to do it: Go to the income tax portal, log in, and download your AIS or 26AS. If you don’t know your login ID and password to the income tax site, well, make that your weekend assignment.

Audit one spending habit—not everything

Forget overhauling your whole financial life. When there’s too much to overhaul, it’s easier to throw your hands up in the air and say nope. Can’t do. Instead, just choose one thing you tend to overspend on—Swiggy, Amazon, skincare, snacks, active wear — and track it for the next 30 days. Don’t judge it (or try not to). Just observe.

Why it works: Awareness creates friction, and friction helps you pause. The goal isn’t to feel bad—it’s to understand your patterns before they run on autopilot.

And if you’re ready to keep track of your expenses, I do have a very simple, very effective budget tracker that you can use. Oh, and it’s free! You can download it, here.

Do a nomination check

When was the last time you checked who’s listed as the nominee on your bank accounts, insurance policies, demat account or mutual funds? We keep postponing this because we believe we’re invincible – but it’s not even about passing away suddenly. It’s also taking stock of changes in your family situation. Maybe you’re married now and your spouse should be the nominee instead of your parents. Maybe your child is old enough to understand bank accounts. All of these are factors.

Why it matters: Your family shouldn’t have to go on a treasure hunt if something happens to you. Updating your nominations ensures your money reaches the right hands, quickly and without drama.

How to do it: Log in to your bank or mutual fund app, go to the profile/settings section, and look for “Nominee Details.” You can usually update it online in under 10 minutes with an OTP confirmation.

Here’s to 2025-26!

You don’t need to overhaul your finances this April. Just be intentional about one or two things—and you’ll already be ahead of 90% of people. Here’s wishing you a very prosperous financial new year.