2 replies on this article “Where to start personal finance education”

1. Free Financial Calculators says:

   January 6, 2013 at 6:43 am

   my first answer did not go through so am resending it:

   step -1. . Buy Manish’s book and read

   0. while you wait for it list down your financial goals: short term goals (less than 5 years) and long term goals (more than 5 years)

   1. Get yourself online term insurance for at least 15-20 times of your annual income
   after you have children you can increase the cover.
   2. get enough mediclaim cover even if provided by employer
   3. keep 3-6 months of expenses in a savings bank with FD sweep option

   4. Use the financial health check cum goal planner i have in my website and find how how much minimum you need to save

   5. Use the asset allocation tool and risk analyser tool found at moneycontrol.com
   to know your risk profile and asset allocation (explained in the book)

   6. choose % of equity mutual funds and % of debt or bond instruments (FD debt funds) you are comfortable with
   7. You could use step by step guide to choosing a mutual fund available in my website
   to choose a mutual fund for your goals

   8 open a ppf account

   9. monitor your goals closely and review at least one a year.
   10. learn what rebalancing a portfolio means

   These are some non-exhaustive general steps Manishs book will help you achieve these and fill in the gaps

   Reply
2. Free Financial Calculators says:

   January 6, 2013 at 5:42 am

   step -1. . Buy Manish’s book and read

   0. list down your financial goals: short term goals (less than 5 years) and long term goals (more than 5 years)

   1. Get yourself online term insurance for at least 15-20 times of your annual income
   after you have children you can increase the cover.
   2. get enough mediclaim cover even if provided by employer
   3. keep 3-6 months of expenses in a savings bank with FD sweep option
   4. go to

   http://freefincal.wordpress.com/financial-health-check-3/with-optimized-goal-investor/

   check your financial health, input data for all your goals and find how how much minimum
   you need to save
   5. Use this asset allocation tool and risk analyser tool found there

   http://wealth.moneycontrol.com/jtassets.php

   to know your risk profile and asset allocation
   6. choose % of equity (stocks) and % of debt you are comfortable with
   7. You could use

   http://freefincal.wordpress.com/step-by-step-guide-to-choosing-a-mutual-fund/

   to choose a mutual fund for your goals
   8 open a ppf account

   9. monitor your goals closely and review at least one a year.
   10. learn what rebalancing a portfolio means

   These are some non-exhaustive general steps Manishs book will help you achieve these and fill in the gaps

   Reply

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