7 Din ki mehnat , lifetime ki Financial Bliss !

This article is a result of casual chat with the family over breakfast. We were checking our list of things to do in 2019. Though we did 80% of what we planned , however 20% was still left which will be eventually carried forward to 2020.

Lot of people are ticking off their bucket list which was made in january this year in the last month that is december. Anything which is planned and executed within first 7 days takes shape. That is why this statement is very strong- “Do it Now or Never”

We set goals for ourselves, start our day, months and year with some expectations and end up with experiences. Setting goal is only 10% of the job, main result lies when one starts executing or doing.

Financial life is often ignored not because it is not our priority but we are often scared to face the real picture, reality check is something which is scary. Do you know 80% of earning population in India struggle to save despite their salaries in 5 digits.

Their expenses always tend to increase their income which put them in debt trap. I come across hundreds of people on regular basis who say “ Aisa lagta hai, hum sirf bills pay karne ke liye hi kaam kar rahe hain”
( seems as if we are earning just to pay our bills)

We all  planned some goals for 2019 too and still struggling to act. There could be two reasons:

1.) Either we are too lazy to act on it and waiting for tomorrow or the right time
2.) Or we are bombarded with lot of information that has left us confused and we are not able to decide.

In both the cases, the person who is actually losing is “YOU” There is a delay cost to everything which is borne by you.

Sharing the checklist to have “ Never before, Never again” Financial life. This list is simple yet powerful and will give results beyond imagination only on one condition that is Act before 15.1.2020. This reminds me of a famous bollywood dialogue- “7 Din, ladki in “ ( 7days, you will be able to impress the girl) .

The idea is planning and doing what you have been wishing to do for a long time. For your convenience, making a calendar for you for next 7 days. Thank me later for this.





8.1.2020 – File the Documents

( Bonus day )

Put all Insurance Policies , investments proofs , loan documents and all necessary information in file and in google drive which is handy to all family member.



9.1.2020 – Set the Goals

Over breakfast discuss your aspirations and jot down your family goals. Goals can be Education for kids , their marriage , retirement, foreign holiday , new car , new house etc.



10.1.2020 – Clear the Junk


We all have had some mistakes under obligation of banker /relative and got into wrong product . Clear the junk and keep only those products which are in sync with your goals .



11.1.2020 -Term Insurance

Do you have any adequate life insurance to cover the lifestyle expenses of you family.

If not , consider Term Insurance policy.

Ideally , insurance cover should be 10 times of your annual income.



12.1.2020 – Health Insurance

 If you don’t have Health Insurance or even corporate cover , it’s time to buy standalone Health insurance to cover contingencies .

Health cover should be determined keeping in mind future health cost and not current cost . Family of 2 adults and 2 children  should have cover of 25 lacs at least.



13.1.2020 – Start a SIP

Start a SIP for your Financial Goals. Identify the amount of SIP required to achieve goals. Diversify the monthly contribution in 2-3 schemes according to your time horizon.



14.1.2020 – Make a Budget

A budget is an extremely important step to a happy Financial future. It will help you realize realistic and lifestyle expenses and eventually change spending habits which will lead to surplus available to save for your goals.



15.1.2020 – D Day

All the above exercise will prepare you for D- Day . Now that preparations are done let’s enjoy D-day and get our desired peace of mind by executing what has been filtered above.

Write a successful story for you and your family and don’t forget to celebrate the anniversary by analysing and make sure that you are on the right track.

And to support the cause and help you work on your calendar, we are willing to give you one hour of our time between 8.1.2020 to 15.1.2020 .

Meeting can happen either through Skype / Video chat (30 mins) or over Chai in our office.

You may fix your appointment , contact person Ms. Preeti 011-40588605,41588605.

About the author: Gurleen Kaur Tikku is a Financial Consultant and devotes her time to her company www.hareepatti.com. She has done her Bachelors in Finance and Investment Analysis(BFIA) from College of Business Studies(CBS, Delhi) and MBA from IMT, Ghaziabad.. She can be Contacted at [email protected]

Disclaimer: Images have been sourced from google.com

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