8 Money Management Moves That You Can Make In The Next 15 Minutes
So, for the benefit for all those who feel that they cannot manage their funds well, we decided to put together a list of eight money management moves that can be made in 15 minutes or less. Unbelievable? Read on to find out:
1) Pull out
2) Start an
3) Update your nominees: You have been putting away money to save for your wife, children or any other family member. If something were to happen to you tomorrow, are you sure all your loved ones get exactly what you intended for them? It is always a good idea to name your nominees in every kind of saving instruments; be it an
4) Make a will: We love to believe that our children will not fight over property after we are gone. But the reality is different. It is important for us to create a will as we reach 35 years of age. I know of friends who started writing a will as soon as they had their children. The advantage of a will is that after we are gone, our near and dear ones know what exactly they get from what we have earned and saved. It also prevents any kind of misunderstanding among our children and results in easy distribution of our wealth. Ensure you make provision for your spouse as well. Once written, it is open to any kind of amendments you want.
5) Update account passwords: It might seem like a mundane task, but an important one. This helps in keeping your money safe and protected from phishing and fraudulent activities.
6) Plan your
7) Scan important
8) Identify saving goals: Yes, it can be overwhelming to save when half your salary goes in paying up mortgages, but that should not stop you from saving. You should always target to build a corpus continuously. For all you know, some day you decide to buy another house and you may not have to run from pillar to post for funding the down payment.
About the author: Rajiv Raj is the director and co-founder of www.creditvidya.com .
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