My Personal Financial Constitution

1. I will keep all my expenses upto maximum 75% of my total net income

2. I will take loan only upto maximum 40% of my net income.

3. I will pay my all EMIs on time.

4. I will pay my entire credit card dues on or before due date.

5. I will save minimum 25% of my income for our future

6. I will keep minimum 3 months expenses as emergency funds

7. I will file my tax return on time.

8. I will take term insurance to cover my working life income.

9. I will buy health insurance to cover my own and family members’ medical expenses.

10. I will take risk based on my own personal appetite.

11. I will not invest in those things which I don’t understand.

12. I will commit only those expenses/investments which I can pay comfortably.

13. I will save for the things first rather than taking it on EMI.

14. I will plan my major expenses like buying a home, my retirement or children’s education/marriage well in advance.

15. I will review my investments once in a year.

16. I will keep the nominee names updated in all my accounts/assets/investments.

17. I will make a Will.

18. I will keep all my financial records at one place and update it regularly.

19. I will inform my nominee/family members about my financial records.

20. I will take all my financial decisions on time and will not procrastinate them.

21. I will take the experts advise for my investments.