Goodwill Wealth Management  Investors’  initiative !


10 Steps for a successful Financial planning for success.

A financial planning with budgeting is a must for  every investor who has surplus money and more so for HNIs. A Budget tells you where your money should go instead of wondering where it went. This gives a control over our finances and ensure that our money is safe, liquid and profitably invested.

The following essential steps would serve as a checklist to have a proper evaluation of our investments from time to time. 

  1. Make a list of all assets and Liabilities and take a stock.
  2. Add up all sources of income and list down all expenses- fixed and variable . This is the first step for Budgeting
  3. Specify your goals, wants and desires and provide for each
  4. Track your expenses –big or small – budget it and avoid credit card dues
  5. Specify needs and wants of all family members, discuss and crystallize all
  6. Automate your Savings like LIC, MF SIP, Bank RD etc., every month
  7. Provide for exigencies/contingencies –medical, legal, travel etc.,
  8. Prioritise your Debts- High interest-low rates, pay the first early. Ensure you maintain a good Credit Score to borrow in case of emergency.
  9. Save with tax benefits like ELSS, MFs, Insurance etc., and with good ROI
  10. Stay committed to the budget and plan and spend strictly as per plan.

For all your Financial planning and Investments, Goodwill is just a call away !    Free feel to reach them any time!



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