Need financial plan

POSTED BY Smita K ON July 18, 2012 12:34 pm COMMENTS (2)

Hi all,

Please help me to create my financial plan.
My details are :
Gross monthly income : 48 k
Home loan : 20k
Rent 10 k:
Expenses : 5 K
Reliance policy : 60 k yearly
Now,every month I can save 8k to 10 k .
My earlier savingn is utilised to purchase home.
My company provides me 3 ,00,000 insurance which also cover my dependent (my daughter)
I have 1 daughter of 1 yr.
I don’t have any other investment
please let me know how to invest my remaining amount

2 replies on this article “Need financial plan”

  1. Dear Smita, @ 48K gross mly income, what’s your actual cash received salary in your bank account?

    If this 48K is the cash received, First of all please go for an emergency fund creation. Divert those 8-10K Rs. mly saving to a simple product like sweeping bank FD.

    Please purchase term cover of at least 1Cr. Rs.

    Please stop paying prem. that Reliance policy. this policy alone ‘ll save your prem. of 5K mly. Start investing hese 5K Rs. into Quantum Long Term eq. fund on mly basis.



  2. sagar says:

    Hi Smita,

    It seems you are paying both rent as well as home EMI and amount which is left with you at the end of the month is not very high.In such case, I personally feel that you should keep your money in saving account only and utilize in case of emergencies. Once you shift to your own home……you have the option of putting tht money in other investment options such as FDs, MFs etc.


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