Planning at the beginning of one’s earning life can help you live life king size! Here are a few tips.

Practice self-control  

Put needs before wants. Delay the wants until they become needs. This should not prevent you from enjoying life within the limits you set aside for yourself. Here self control is paramount. Credit cards can make you give in to temptation. Avoid the revolving credit facility on Credit Cards. It’s a trap that you may never get out of.

Name your financial goals  

Have long term, medium term and short term investment, savings and expense control goals. Write them down. Keep them in your smart phone, and work towards them.

Sticking to your goals

Goals must lead to a tentative budget which details your strategy and plan of action. You must track your money according to your budget. Monitoring it on a weekly basis is key to achieving your financial goals.

Keep a non negotiable monsoon fund

Job security is a thing of the past. Now, one might lose one’s job any time, either due to business reasons, personal reasons or simply for no reason at all. A recurring deposit or a mutual fund SIP plan can be the best way to meet expenses of a rainy day. Call

Insure for the worst

A life insurance and health insurance cover can help you prepare for the worst. Choose wisely from the many options on offer in both cases.

Small drops make a mighty ocean. Begin now.