1. Draw the Budget:
Didn’t you ever draw your personal budget
so far? If not, start it now. If you start it by noting the present date in a
new note book, it acquires a speciality to your task. Hope you will agree.
2. Life Insurance:
Insurance takes care of family protection
in the event of happening of an untoward incident. Check-up whether you have
sufficient life insurance cover. Go in for a policy from a reliable life
insurance company. Ensure that the special date appears on the policy document.
3. Health Insurance:
No need to repeat to you about the
special need of health insurance in these days of escalating medical/ surgical
expenses. If you already have it OK, otherwise go for it immediately; don’t
look for an auspicious day.
4. Debility (Accident) Insurance:
Occasions may arise, when we will not be
able to discharge our duties properly due to physical disability due to
accidents. In such events, this insurance comes handyto provide us financial
protection. Its cost is very low.
5. Mortgage Insurance:
We generally purchase a house, a car
taking loans – we cannot own them till the entire loan is repaid. If something
untoward happens during this repayment period? Family will be thrown into a
state of distress. Therefore, take out mortgage insurance to cover the amount
of outstanding loan. This is also called ‘Loan Cover Term Policy’.
6. Emergency Fund:
Spending what all you earn may put you in
a fix. It is necessary to create a fund to meet the unforeseen emergencies
during at least the next 6 months. If you didn’t have this fund so far, think
deep to create one.
7. Housing:
You might be in the thought process to
fulfil your dream to own a house. Get prepared to buy a house by paying an
initial amount of at least 25 per cent of the total cost. If you have already
got sanction of Bank loan … if everything goes on well … fix up present date as
the registration date.
8. Retirement:
Think about your retirement right on the
day you start earning. Already delayed - don’t worry. Start action in the
matter from this special date. Plan and prepare yourself to create a fund
sufficient to cover your entire retired life.
9. Children’s future:
Everybody desires to provide a bright
future to their children. To meet the future educational expenses … start
saving some amount for it from now itself.
10. Financial independence:
Searching for a source for a loan when
need arises will never allow you to stand on your feet. Don’t get compromised
with your earnings sufficient to cover your day-to-day expenses. To achieve the
set goals, you have to save sufficient amount of money. It takes care in the
event of necessity. To accomplish it,
take a pledge today itself.
11. Enhance the value of your life:
Wealth should grow … liabilities should come
down … if it is otherwise, no need to explain about the situation to you.
Evaluate the value of your life today. Check-up whether your investments are sufficient,
appropriate and diversified.
12. Execute a Will:
Shred the thought that ‘Will’ is only for
the rich people. Everyone should identify the necessity for executing a will.
In case you have not so far executed a Will, do it on this special day.
Thanks for the information. If you do decide to move forward with ordering bank checks online, it is important to locate
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