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Plan Your Life Out

Life passes through a number of stages. When your learning is over you experiment with various career options. You choose a good career and settle down. You buy the good things in life. Children grow up and move into education. You retire. Life goes on with one common string of money. In every stage of your life money is required. If your life is unplanned you might fail to fulfill your responsibilities.

The best way to plan your life out is to work out your expenses in a chronological order. The best point to start calculating is from the time you graduated.

1. Education

You might have loans pending for your college education or may require money for higher education.

2. Health

You need to keep aside money for health emergencies.

3. Insurance

You will have to spend on insurance for heath and the goods you will own.

4. House

You will need to invest in a house.

5. Car

You will need a car to travel to work.

6. Consumer Durables

You will have to buy your TV, audio system, computer, washing machine, microwave oven, refrigerator and other such things. You can plan one or two buys every year.

7. Savings

You will have to save enough to live a good retired life.

8. Day to Day expenses

Plan your daily household expenses.

9. Responsibilities

You must keep money aside for the requirements of your children and your aged parents.

This simple enumerated expenses approach will help you plan your life out.

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