A GUIDE TO FINANCIAL PLANNING

we all owe to a better life and for a better life proper planning need to be done,right from the beginning when we start earning ie from your first job.,because this is the time when money starts accumulating in your account from month to month and usually we don't have to do anything with your salary credited to your account except spending it in your families ,friends, or for yourself.

After that if if anything is left in your account it remains idle.There are few reason for this-

1.May be at that point of time you have not thought of any investment.
2.You just don;t know the procedure.
3.You are not aware of it.

Now the first reason is of utmost importance and even dangerous because when it comes to investment there is no such sooner or later the sooner you start the better you gain.

Now the question arises How to invest ? and Where to invest ?here are some tips which will help you in solving your investment problem.
1.Set a goal-the first thing you need to identify while going for any investment is to set goal ,What is your first priority,

2.Prepare to invest-once you have set your goal its time to analyze how much will be the amount you need to invest in order to achieve the target.a thorough market research should be done before coming to any conclusion,because there is always a risk factor.It totally depends upon you whether you want to go for a long term or a short term investment ,in a short term investment a risk factor always remains there,its idle to keep a balance in between two.

I will always suggest you to go for security of your and your family health and life.so you can go for LIFE ,HEALTH AND MEDICAL INSURANCE,and i think it is the best way to start your investment .


3. Maintain a discipline-this refers to continuity in investment,investment does not mean by saving for a month.it means there must be regularity in your saving.say ,for this month you have invested/save few bucks and the next you spent all your money ,this is not going to help you even if you have planned to save double for the coming month.so there must be a continuous flow in investment.

4. Allocation of your asset-it is always advisable to plan your investment according to your need .like the time span of your investment .say for after two years you need a handsome amount for payment of your home loan so keeping things into mind you need to allocate your asset.

5.Identification of risky factor-always" THINK BEFORE INVESTING ".because there is always a risk factor,there are lots of option go for the best .study the risky factor,make provision for any emergencies.

6.Go for assistance-before going for any investment plan go for a consultant .there are relationship manager from your bank then can assist you on various investment options.Planing your investment is not an easy task it needs a thorough market research ,analysis and study,of day to day market condition.so start thinking now.