1) Prepare a budget and find out where your money goes and the surplus available for investment.
2) Review your existing expenses, EMIs, insurance plans and investments.
3) Keep aside a sum equal to 6 month expenses including your EMI and Insurance premium as contingency fund.
4) Buy online term plan equal to 10 to 12 times of your annual income.
5) Take 3 lakhs individual health cover for each member of your family.
6) Define & priorities your financial goals.
7) Finalise your asset allocation and start investing.
8) Review your investment periodically.
9) Prepare a Will.
10) Take a professional advice from Certified Financial Planner, if you think it is not your cup of tea.
