19 May 2016

Redesign Your Financial life


     How to check and fine tune your financial life?Apply this ten simple tips in your personal finance.You will feel the difference.

1.Do you have positive net income?
If not,cut expenses by minimum 10%.

2.Are you paying for any compulsory saving?
   If not,start new savings.

3.Do you have any growth assets?
   If not, buy quality mutual funds,shares and commercial properties.

4.Is your Assets Illiquid?
     Don't keep more than 50% assets as Illiquid.Real estate,Long term debentures and gold ornaments are illiquid assets.

5.Is your debt  allocated more than 50% of total assets?
   Payoff debt as top priority.

6.Is your EMIs take more than 25% of your Total income?
  Don't take new loans.

7.What is the allocation of Fixed return assets such as FD and PF?
    Keep it less than 50% if you want to create wealth.

8.Do you have conviction in Equity?
  If yes,invest.
  If not,be open to understand it.

9.Do you know strategies of investment management?
  If yes,do it well.
  If not,Learn about it and consult Professionals.

10.Have you shared financial discipline inputs in family?
   If not,do it now.

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