My Budget

A goal without a plan is just a wish. In order to achieve financial freedom the first step is to make a plan.

It's possible to manage income more effectively through planning. Managing your income diligently helps understand how much money you will need for tax payments, monthly expenditures and savings. This in turn increases cash flows by monitoring spending patterns and expenses. Tax planning, prudent spending and careful budgeting will help you keep more of your hard earned cash.


Better cash flow means more capital available to you to consider investments to improve your overall financial well-being. A proper financial plan considers your personal circumstances, objectives and risk tolerance. It acts as a guide in helping choose the right types of investments to fit your needs, personality, and goals.

An important point in preparing your financial plan is to flag your various financial goals, like buying a house or a car, education, retirement, marriage or vacations.  

One should hope for the best but prepare for the worst. In preparing our financial goal we generally assume a steady growth in life. The biggest risk in our financial planning is us. While we are preparing for a better future we need to consider the worst case scenario and make provisions for that. Providing for your family's financial security is an important part of the financial planning process.

The is no better time to start working seriously on our financial planning than at a time when the finance minister rises to present the annual budget for the country.

In this special feature “My Budget” we aim to walk together with our readers on planning their ‘budget’. ‘My Budget’ will provide an opportunity to you to share thoughts and ideas of how you have overcome challenges and managed your budget successfully.

We will be raising pointed question on the various aspects of budgeting like

• How do you prescribe a value to risk?
• Why defensive investment (insurance based investment) is the best strategy in investing
• Mapping your risk profile with returns
• What are the best and most economical ways of reaching your goals?
• Taxation and how to use it to invest better
• Compounding and benefits of it at various stages of life
• Categorizing an asset class with the return that can be expected
• Which financial instruments can also be used as leverage?
• How to achieve financial freedom