Top 10 Golden Rules of Financial Planning | How to Manage Money.

10 Golden Rules of Financial Planning.

Financial planning is the process that provides you a framework for achieving your life goals in a systematic and planned way by avoiding shocks and surprises.

This article covers the following:

Take the help of Rule 50-30-20.

The 50-30-20 rule puts 50% of your income toward necessities, like housing and bills. 20 % should then go toward financial goals, like paying off debt or saving for retirement. Finally, 30% of your income can be allocated to wants, like dining or entertainment.

Rules
1. Create an Emergency Fund.
2. Manage your money & expenses.
3. Make a personal Balance sheet.
4. Deal with surplus cash carefully.
5. Create a personal investment portfolio.
6. Do planning for retirement funds.
7. Manage your loans carefully.
8. Get your risks covered - Take Life and medical insurance.
9. Review your investments and plans regularly.
10. Plan about your tax liabilities.

If you don’t know where to begin from, then take advice from a reliable source. You can invest and get the benefit of diversification & professional fund management.

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#MakeapersonalBalancesheet
#Dealwithsurpluscashcarefully
#Createapersonalinvestmentportfolio
#Doplanningforretirementfunds
#Manageyourloanscarefully
#GetyourriskscoveredTakeLifeandmedicalinsurance
#Reviewyourinvestmentsandplansregularly
#Planaboutyourtaxliabilities
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