Where Do I Begin?

Are you confused about how to begin with you a good financial planning? If yes, then here are few ways which will help you to start a good beginning.

1. Assess your finances

Before you move ahead with your plans you need to actually undertake a small budgeting exercise that is you must access your financial status. If you have just started with a job, note down the salary you get in hand every month, along with the money you have already saved, if any. The next step is to determine your monthly expenses, which should be done over 2-3 months to arrive at an average. Include every category, such as food, clothes, house rent and entertainment. Once you have a clear picture of your income and expenditure, you will know how much you can save every month. You will also realize that managing money is an acquired skill. You learn on the job and improvise along the way. The important thing is to make a start.