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This is a Finance tracker which I have designed.
Situation : I used to save a lot in the past.. But whenever i needed something, i used to spent all of my savings on that... And end up with nothing as my savings..
Last month i had to buy a course which was of a bit higher price, but i was not sure whether the price was affordable for me according to my income.
A similar situation happened when I planned a trip to London.
So i understood that financial planning is very important for every person to lead a stress free life. That's why i designed this planner.
📌 How to use the planner :
One has to find out the minimum amount that is required to live for a month ( example : I need a minimum of 400 pounds per month which includes all my bills , food, clothing etc. ) and that is called the necessity fund.
Now, income - necessity = savings.
But if we save this much money every month, we will feel stressed because, even if we work hard, we are not able to enjoy our life. So.. I have divided savings equally into 8 funds . Each fund is meant for a specific purpose.!
✨️ Retirement fund helps us to gain an emergency fund at first and then for retirement.
📌 A person will be able to live with Emergency fund even if dont have income. Typically emergency fund = necessity fund ( for 1 month ) × 6. Once you have achieved your emergency fund, you can shift this fund to a retirement fund )
✨️ Gift ( others ) is a fund meant to buy gifts for our loved ones.
✨️ Entertainment fund is for movies, parties, travels etc.
✨️ Reward ( myself ) fund is to fulfill our dreams ( example : costly car, luxurious house etc.)
Like wise i have named each fund in the planner.!!
So the first line in the planner is meant to write all these numbers starting from the name of the month in the first column.
In the second line you have to fill the name of person / thing / process for which u have used each one of these funds.
Third line is meant to fill the amount which is used up ( in every fund ) by the end of each month.
Fourth line is for finding out the balance amount left in each fund.
📌 Concept : This financial planner is based on the ideas from the book, The richest man in babylon.
Thank you for spending your valuable with me
With love,
Anumol Jolly Thottathimyalil