1. Presented by : VVS Ventures
Money Management Plan for
Nuclear Family
2. “The only time you really live fully is from thirty to
sixty. The young are slaves to dreams; the old
servants of regrets. Only the middle-aged have all
their five senses in the keeping of their wits.”
• Hervey Allen
3. Start from the start
Just as you begin language classes
with A, B, C, begin a financial plan
with some simple goals.
Sounds obvious but most important
goals
Short (< five yrs)
Medium (7-10 yrs)
Long term (10 yrs and above)
Discuss your plans in detail with
only one financial
advisor.
4. Rainy Day
Emergencies come unannounced
Being prepared is the best strategy
Keep aside three to six months expenses
It protects you from taking high cost personal
loans or borrowings from friends and relatives
5. Prepare budget and dumb debt
Knowing your financial
situation is very critical
Divide expenses in five
categories :
1) Household
2) Lifestyle
3) Insurance
4) Due liabilities
5) Savings and
investments
6. Continued..
Try to dumb the debt at the earliest
Don’t get tempted by lower cost of debt
In bad times even lower cost debt can give you
sleepless nights
Any financial decision is not big enough to give
you sleepless nights
8. Insurance – Life and medical
Cover the working partners
else cover the bread
winner
Buy a term plan
Have insurance of 12-15
times of annual expenses
Keep in mind the debts like
home loan ,car loan etc.
Make a will for future
hassles
Buy an additional medical
cover (small may be) even
if your employer covers
you
9. Investments
Sooner you begin the bigger will be the corpus
over a period of time
Keep objectives in mind
Align the objectives to the investments
Look for optimum returns than chasing maximum
returns
Have a healthy mix of equity and debt
Design your portfolio as per
your risk appetite and returns
requirement
10. Retirement- Most important aspect
It’s the most important aspect of one’s financial plan
Start building the corpus from today to live a respectful
retirement life
Always keep this corpus separate from medium and
long term goals
Do a favour to yourself, never withdraw your PF when
you switch your job, instead transfer.
