*_TIPS for Financial planning._*

1. *_30 %_* of your income must be used for monthly *_Living Expenses._*
2. *_30%_* of your income must be used for *_Liabilities Repayments_*
3. *_30%_* of your income must be SAVED for your *_Future Living_*.
4. *_10%_* of your income must be spared on *_Spritual_* and other *_Vocational Activities..._*
5. *_3- 6 Month_* monthly income must be available for *_Emergency Fund_* { LIQUID FUND }, it can be CASH or cashable investments
6. *_Home loans_* must be registered and applied on both husband and wife name. { Both can get benefits on Home loan Tax benefits }
7. Buying *_Second House_* for investment is not advisable and it depends on your risk appetites. [ Survey reports - it will fetch you only around 3% return]

8. After age 45 years not supposed to enter into any *_BIG LIABILITIES_* [ Higher education of children and wedding of children will happen around 45 to 50.
9. Regular check on *_Nominations_* at all financial instruments
10. Only in Insurance policy, Claims payable to Nominee. In other financial instruments *_Legal Heirs Certificate_* is must to get back the settlement
11. *_2 months Earnings_* must be parked on LIFE INSURANCE POLICY [ it’s a universal thumb rule on insurance ]
12. Don’t take any financial investment decisions *_EMOTIONALLY_*
13. *_MEDIC CLAIM_* is must [ in spite of Group medic claim coverage given at office [ After retirement there is no medic claim coverage. After 50 years its very tough to enter into medic claim ]
14. For your jewellery LOCKER, if theft or fire happen, only lesser amount of actuals (One lakh max) is payable by bank, make sure Provided *_Insurance done._*
15. *_Review_* your Financial port folio *_Every Six months_*.