Over the past year, I’ve tried to keep tabs on the financial goals that people generally seem to have (as claimed in case studies, interviews, money makeovers, etc. published in leading personal finance publications). So, here’s the trend that I see. Most people seem to have the following set of financial goals — Daughter’s Education […]
Here’s a question that I often receive — Hi. I’ve recently started my career at a software firm. I earn Rs XX,000 per month. Being new to personal finance, I’m not aware of investment options for beginners. Could you please guide me towards suitable investment options? Whenever I see such a question or an equivalent […]
After the lengthy treatise in 2011, thought I’d keep things simple in 2012. So, my primary money to dos for 2012 are: Increase my Financial Independence Portfolio by 50%. Increase my Financial Freedom Portfolio by 30%. (Using these definitions of financial independence and financial freedom.) Purchase an online term plan in my name by April […]
I used to have a significant number of short-term goals (way more than what I recently listed here). For example, I used to have as my short-term goals: Stay one-EMI ahead on my car loan i.e. save for next month’s EMI from this month’s salary. Stay one-month ahead on household expenses i.e. save for next […]
You already know that I’ve made an extremely stupid mistake due to which I’m now looking at an income tax liability in the upper five figures! This means I’ll simply be unable to meet all of my financial goals over the next three months (because I really won’t have much to call as a salary). […]
Approximately 70 to 30 — when most literature suggests the exact opposite. But that’s what my financial goals demand and financial goals are how you ought to arrive at your own debt to equity investment ratio.
A asks, Emergency fund. Soon to start household expenses. Soon to start loan repayments. Short-term savings for some expensive stuff. Long-term savings for old age. How do I manage it all every single month? A’s situation is a classic example for multiple competing personal finance goals. A’s one of my closest friends and who’s about […]
Here’s a real example for one of my financial goals. Goal #1: Eliminate car loan debt I want to eliminate my car loan debt by December 31, 2010. Achieving this goal will make me debt-free! To achieve this goal, I will: a. Save 1 EMI payment (i.e. Rs X) and an additional amount of Rs […]