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| Kanchana TK |
By Ms. Kanchana TK
10 things Indian women can plan as resolutions regardless of their income levels, thereby, nurturing their financial stability in 2012 are as follows:
* Be prepared for emergencies:
Ensure you save at least a 6 month expense for that rainy day so that you don't end up drenched.
* Start with a budget and stick to at east 90% of it:
Some financial experts recommend dividing gross income into different categories.
* Wants and Needs:
Understand and prioritise between wants and needs.
* Maintain major expenses records:
This will only help you to monitor your monthly expenses and estimate your costs.
* Ensure your family is well protected with insurance:
If you are a working woman, you may stand a chance to have your employer cover you & your family with an insurance cover.
* Plan for your income tax-saving instruments in advance:
The income tax exemption limit applicable for women is Rs. 1,90,000, against Rs. 1,80,000 for men.
* Auto saving plan:
Considering that most women depend on their husbands for the retirement, why not start by simply having an auto saving mode such as a RD (Recurring Deposit).
* Credit control:
Please understand the charges associated with your credit cards and focus your efforts on reducing the balances on the ones with the highest rates.
* Live debt free:
Any additional income such as a bonus or a chunk of an incentive be used for pre-payment of any heavy loan.
* Update your financial records:
Last but not the least, ensure that all your financial records are updated with the correct information.
About the Author: Ms. Kanchana TK, Executive director, Vantage Insurance Brokers and Risk Advisors
Contact Vantage Insurance Brokers: Vantage Insurance Brokers a pan-India presence covering major metros and cities such as Mumbai, Pune, Bangalore, Chennai, Hyderabad and Gurgaon and with an office in Bangkok, we ensure we are there whenever you need us. You can get in touch with us on any of the following addresses and numbers.
Chennai Office
Vantage Insurance Brokers Pvt. Ltd.
Flat No:1,Rams Flat, No: 8, Gajapathy Road,
Kilpauk,Chennai - 600 010
Ph: +91-44-64626928
Gurgaon Office
Vantage Insurance Brokers Pvt. Ltd.
Office Number 1412, 14th Floor, Galleria Towers,
DLF city Phase-IV, Gurgaon-122002.
Ph: +91-124-2570946/ 4056042 Fax No. +91-124-2570944
Bangalore Office
Vantage Insurance Brokers Pvt. Ltd.
Office No. 2, 1st Floor, Sreevari Chambers
Opposite to BESCOM (HAL Park),
Old Airport Road, Bangalore - 560 017.
Ph.: +91-80-4125 8216 / 3294 5006 Fax : +91-80-2522 0156
Pune Office
Vantage Insurance Brokers Pvt. Ltd.
C-9, Dr. Herekar Park, Near Kamala Nehru Park,
Off. Bhandarkar Road, Pune - 411 004.
Ph.: +91-20-66220400 Fax : +91-20-66220350
Hyderabad
Vantage Insurance Brokers Pvt. Ltd.
3rd Floor, HNo.1-98/90/24/1/1, KSR Towers,
Next to IOC Petrol pump, Madhapur, Hyderabad - 500081.
Ph.: +91-40-66770747, 66770748, Fax : +91-40-66770749.
Mumbai Office
Vantage Insurance Brokers Pvt. Ltd.
Office No. 301, Grace Chambers, A-Wing,
Andheri-Kurla Road, Chakala, Andheri (East), Mumbai - 400 093.
Ph.: +91-22-2687 6303 / 04 Fax : +91-22-26871242
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