Young married couple with one child 

A couple with one responsibility to shoulder. An arrival of child had added two more financial goals, Child education and Marriage . 

This will also rise your house hold expenses. The growing child requires lot of attention and care.

Form the angle of male partner it dosen't make a big change as he will continue to work in same fashion as earlier but for female partner now she has to take care of her child as well as her career , may have to take a sabbatical for 1 or 2 years. This sabbatical now reduce the cash flow of the family for that respective years.

As per as the financial planning goes following are the things which are important in this stage :

1. Take care of your self : You have to take Medical insurance and Accidental & disability insurance even if you have it from your company . which will protect your from possible loss in wealth in emergency as well as protect your financial well being in unfortunate events. 
at this stage you and your spouce should have enough life insurance to protect the future for child., if you have any housing loan till then just have a cover for it. When you think of life insurance think about Term insurance only.Pl consider insurance premium as expenses. now a days online term policies are attractive in terms of premium but take all due care at the time of choosing the insurer and filling up the form.

2. Build cash reserves : You have to have at least 6 months expenses in your cash reserves as the job is not secure now a days.if any of you have a secured job like Govt. permanent job then depending on the proportion of salary of the member having a stable fixed income the reserves can be reduced to 3 months expenses.


3. Plan for long term goals : Time is running now this is time where you have to take the investment decisions and implement it , this is a time to act in deciplined way in financial  management. Now have ot prepare for child's higher education expenses as well as regular schooling expenses 3 years down the line. break up your goals in to long term , mid term and short term, select right kind of asset for investment and start.

4.One more thing you have to keep care that your investment should grow at the rate of salary growth.

It is important for all you have to build assets first and take care that you take appreciating assets not depreciating one.


Any views ???

About the author : Ashish Ramesh Bhave is a CERTIFIED FINANCIAL PLANNER, focused and specialized in financial planing for individuals and families.

Young married couple with both working members 

Let's congratulate this couple on this occasion, where both are independent and there is no liability. This is the new life where you both have to have a very strong communication with each other, communication is the thing which can solve maximum problems. Try to solve all the problems with discussion.


For both of you now there may not be much change in the expenses assuming both of you are earnings and spending before marriage as well .

Now you have to change the gear as the responsibility is entered in your life, As Now you may have to plan some more things in your life where you have to take collective decision.

As per as the financial planning goes following are the things which are important in this stage :

1. Take care of your self : You have to take Medical insurance and Accidental & disability insurance even if you have it from your company . which will protect your from possible loss in wealth in emergency as well as protect your financial well being in unfortunate events. life insurance may not important to you, as both of you are working , if you have any loan just have a cover for it. When you think of life insurance think about Term insurance only.Pl consider insurance premium as expenses.

2. Build cash reserves : You have to have at least 6 months expenses in your cash reserves as the job is not secure now a days.if any of you have a secured job like Govt. permanent job then depending on the proportion of salary of the member having a stable fixed income the reserves can be reduced to 3 months expenses.
3. Plan for long term goals : Time is on your side if you plan your investments in right way then you can be wealthy. Here you may have a little bit Idea about the possible expenses in future, try to find out the expenses at that time and start investing for same. break up your goals in to long term , mid term and short term, select right kind of asset for investment and start. starting and keeping yourself on track is a biggest challenge.
Use different type of instruments for investment like RD's for short term fund accumulation, Equity for long term , have a home to reside in , buy a car if necessary etc..., your first goal is to fund for your needs and this is just a start of it still time is in your hand and accumulation over a period of time can give you a very good fruits.

4.One more thing you have to keep care that your investment should grow at the rate of salary growth.

It is important for all you have to build assets first and take care that you take appreciating assets not depreciating one.


Any views ???



About the author : Ashish Ramesh Bhave is a CERTIFIED FINANCIAL PLANNER, focused and specialized in financial planing for individuals and families.

This is a time to say thanks to the year which had given a lot of things to us , year 2011 had strengthen us and made our presence strong in the financial planing circle in Pune. 


The new year will help us to reach new levels.


We had become now one of the leading fee based financial planing consultancy firm in Pune. 


This made possible because of our clients, friends, well-wishers who shown lot of trust on us.

Wish all our clients, friends and 

well-wishers 

Happy and prosperous 

new year 2012.

Thank you 2011, Welcome 2012.