Ranjeet Walunj

August 4, 2008

Financial Resolutions Revisited….

Filed under: Finance, general — Tags: , , , , , — ranjeetwalunj @ 5:55 pm

I know its bit late to follow any of the resolutions.Yeah i know its august 2008 and not yet the new year.
But i’m as usual lazy and late đŸ™‚

Nevertheless i’ve read following resolutions in the month of Jan and put it down for my referrence.
(Seriously dont remember from which portal. Would love to provide link if anyone comes across these.)

Resolutions are as follows:

  1. I will not keep more than one month’s salary in my savings account.
    I’ve managed to do that till now … thanks to my spending đŸ˜‰
  2. I will not invest in insurance to save tax
    Insurance — savings ?? ….WTF is this ? …have TERM insurance … and thats it …. All other insurance products in my opinion are sheer waste …. nothing else …
  3. I will not invest in a new fund unless it offers something different and better
    People who cannot track market should go with Mutual funds …. So far having very little budget allocated to Mutual Funds ….. But I always look at 5 or 10 years horizon ….. and always opt for full equity/growth ….
  4. I will buy health insurance for my family.
    Company has provided some insurance … need to do this on my own …. very important
  5. I will not roll over my credit card bills.
    huh …… havenot been able to do that …. thanks to the increased credit limits provided by ICICI and citibank …….. need to get organised here. ……. will clear everything in this week ..
  6. I will not get caught in the ‘Rush of March’
    Seriously …. every year march is the most stressfull month …… i’m putting all the re-imbursement claims every quarter …… just need to get more organised and manage the bills properly.
  7. I will pay attention to allocation of my savings
    Savings ??? ….. will do when i get it đŸ™‚
  8. I will check all my bills for discrepancies and incorrect charges.
    I’ve been doing this … since i dont know from when …… full on Kanjoos + Khadoos ….. Native places (Pune) has left these virtues(?) long back….
  9. I will put at least 10% of my income in retirement planning
    Haven’t yet figured out …. the kind of returns promised by these retirement planning plans are so fucked up that it does not make any sense to go with it.
    Better option is to invest in good quality scrips at every dip …. probably they will provide better returns post your retirements.
  10. I will write down my financial goals once a year.
    Ha. atleast this makes it twice the year …… cool …

I’m assuming i’ll try to provide better attention to the above goals.

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2 Comments »

  1. Nice writing. You are on my RSS reader now so I can read more from you down the road.

    Allen Taylor

    Comment by Allen Taylor — August 4, 2008 @ 6:31 pm

  2. I will not get caught in the ‘Rush of March’??????

    Yeah kya hai!!! Are ye sab nahi karega to “Taklu ko mauka nahi milega”!!!!!!Tere ko “0” pe close karne ka>>>>>>>>>>hahahaha

    Comment by Vijay — August 6, 2008 @ 12:20 pm


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