the money related documents in a one place.
KEEP A TRACK ON EXPENSES
Please always write about expenses, how much we are spending, where we are spending which will enable us to keep a track and control . If we control we will start savings them.
Please start one Recurring deposit for vacation, Festivals, Premiums. The Deposit should be matured nearing to that due dates. then we need not worry for that money.
CREATE EMERGENCY FUND
Every month you please save some money which you should not touch. Inform to others also that for emergency purpose only we should use these funds. No one knows when we need money.
NEVER EVER GO FOR LOANS
We are getting regular income then we can spend lavishly like that and all ever think. If you have any loan please give back them as early as possible. Please control of using Credit Card.
SET UP GOAL
For the coming 5 years what you want to buy either house, car like that, for that you plan accordingly and save it in a fixed deposit.
WHAT IS SCALE OF SAVINGS
15% ON YOUR TOTAL INCOME SHOULD BE IN SAVINGS.
E.G. IF YOU ARE EARNING RS.50000/- AS MONTHLY YOU HAVE TO SAVE 7500/- PER MONTH.
WHEN YOUR AGE IS INCREASING LIKE WISE YOUR SAVINGS SHOULD ALSO INCREASE.
Which is good for your future.