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Cash Inflow vs. Life Goals How to Find the Balance?

Other Topics - By: - Vanshika Kumari - Dated:- 4-1-2018 Last Replied Date:- 4-1-2018 - A lot of us have big dreams to fulfil in our lives and almost all of them are money-dependent. At the same time, we have certain financial commitments to take care .....

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t us consider the example of Mr. Sharma. Mr. Sharma is a 30 year-old-professional living in Delhi with a monthly income of ₹ 70,000. He lives in a self-occupied house and he took a home loan to buy it. His necessary monthly expenditure is ͅ .....

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t is ₹ 9 lakh. Of this ₹ 9 lakh, ₹ 5 lakh is invested in fixed deposits and another three lakhs is in a savings account. He has also invested ₹ 1 lakh in an equity-oriented mutual fund scheme. The value of his house is ₹ .....

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us take a look at his essential expenses. Emergency Fund: An ideal emergency fund should have enough money in it to cover expenses for roughly four months. Since Mr. Sharma s savings account has ₹ 3 lakh, his contingency fund is sufficient. How .....

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to ₹ 4 lakh, but his parents are not covered by any health insurance plan. As a result, he should purchase health insurance policies for his parents immediately. Life Insurance: Since Mr. Sharma s parents are dependent on him and given that he .....

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is policies to paid-up status. Home Loan EMI: Mr. Sharma is paying an EMI of ₹ 20,000, which is less than 30 percent of his monthly income. Needless to mention, he should have no difficulties in clearing his home loan debt comfortably in the co .....

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gency reserve, he should consider lowering the budget for his wedding. Additionally, he can also start investing a few thousand rupees every month in mutual funds to help him pay for his wedding. Vacation: Mr. Sharma plans to go on his dream vacation .....

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t pool. Apart from his monthly contribution to the National Pension System, he will need to invest at least ₹ 15,000 to reach his target. Since it is impossible for him to save the desired sum from his current salary, Mr. Sharma should consider .....

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