Go to a bank or post office and you can locate a board that lists typical transaction times. Here is how long each basic step in financial planning will take.
- You know that equity investing is necessary to combat inflation.
- You recognise the bad investments in your folio and have decided what to do about them. If not, spend a couple of hours over a weekend to sort this out.
- You dont have any debt except a home-loan. If you do, perform steps 1-8 below, clear your debt and then resume.
- You do not ask for product solutions in Asan Ideas for Wealth. Do that and the decision-making time will at least triple.
1) Scrounge around for extra cash to set up an emergency fund. – 10 mins to think about it and less than a few hours to implement it.
2) Follow it up by allocating at least 10% of your salary each month to this emergency fund until it grows to a decent size – 10 mins to automate this process