In Goa, schools have a very long break (about 2 months) for summer vacations, and we(my cousins & friends included), as kids used to be very very excited about this.
Here is what I'd do.....
Make a 'to do' list : As the final term exams headed for a finish(with a lot of excitement), I used to make a list of things I would like to do in the vacation. My list included...
1. Playing Cricket/Badminton/Carrom/Football/Table Tennis
2. Watching TV
3. Playing the TV game(No Play station/WII/XBOX in the 1990's)
4. Eating Softee ice cream(The modern swirl Ice cream from MC Don .......you know!!)
5. Visit relatives outside the city and repeat step 1-4
It was simply because I made the list that I could really enjoy the vacations, otherwise it could have been really boring and a waste of time.
Making a 'to do' list or writing your financials goals on paper is how you could start on working on your Financial Plan too. It is essential to be clear about goals, to achieve them in the required time. After all, you need to know where you want to go, before you can decide how to get there.
Your goals can be:
Short-term — such as paying a credit card debt/prepaying your personal loan in six months; reducing monthly expenses; buying adequate term insurance, creating an emergency fund in 1 yr.
Medium-term — such as saving for a down payment on a house in two years; increasing your income
Long-term — such as creating a retirement corpus in 25 years, planning for your child's higher education.
1. Write your goals on paper, including rupee amounts and dates.
2. Keep the list in sight so you can refer to it for motivation as you keep working toward your goals.
Financial planning provides a road map for your financial life. It can make the journey less stressful, more fun, and more successful. And, you can start right now — even if its only a few steps at a time.
Let us resolve for a better financial life, I wish you all a very happy and successful funancial year 2014.
Ninad Kamat
CERTIFIED FINANCIAL PLANNERCM
www.letsmakeaplan.in
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Here is what I'd do.....
Make a 'to do' list : As the final term exams headed for a finish(with a lot of excitement), I used to make a list of things I would like to do in the vacation. My list included...
1. Playing Cricket/Badminton/Carrom/Football/Table Tennis
2. Watching TV
3. Playing the TV game(No Play station/WII/XBOX in the 1990's)
4. Eating Softee ice cream(The modern swirl Ice cream from MC Don .......you know!!)
5. Visit relatives outside the city and repeat step 1-4
It was simply because I made the list that I could really enjoy the vacations, otherwise it could have been really boring and a waste of time.
Making a 'to do' list or writing your financials goals on paper is how you could start on working on your Financial Plan too. It is essential to be clear about goals, to achieve them in the required time. After all, you need to know where you want to go, before you can decide how to get there.
Your goals can be:
Short-term — such as paying a credit card debt/prepaying your personal loan in six months; reducing monthly expenses; buying adequate term insurance, creating an emergency fund in 1 yr.
Medium-term — such as saving for a down payment on a house in two years; increasing your income
Long-term — such as creating a retirement corpus in 25 years, planning for your child's higher education.
1. Write your goals on paper, including rupee amounts and dates.
2. Keep the list in sight so you can refer to it for motivation as you keep working toward your goals.
Financial planning provides a road map for your financial life. It can make the journey less stressful, more fun, and more successful. And, you can start right now — even if its only a few steps at a time.
Let us resolve for a better financial life, I wish you all a very happy and successful funancial year 2014.
Ninad Kamat
CERTIFIED FINANCIAL PLANNERCM
www.letsmakeaplan.in
Nice n simple!
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