personal finance

I always feel ‘incomplete’ when it comes to my personal finance…

For most of us personal finance means doing some investment in Mutual Funds, FDs or Shares and having couple of insurance policies. It mostly doesn’t go beyond that. Some of us who are more aware, deliberate on type of insurance policy they should have, kind of mutual funds they should buy or maximum amount of loan EMI they should pay every month.

Let’s leave aside these essentials for the time being. I am going to talk about something which comes way before this.

Basic Systems

All of us know that basic systems can lead to great results. Let’s take few examples – In our households there is a fixed place for every item. Keys are hung on key hanger; clothes are kept in a cupboard either folded or hanged on the hanger.

If you would have visited a garage, you can notice that the tools like spanner have specific pre-decided slot. All mechanics working know the place of spanner of a particular number. So when the mechanics change the shift, the new guy find the specific spanner effortlessly.

Is this equally true with every family’s personal financial data and documents? Agree that some family’s have specific cupboard or a suitcase wherein the documents are kept. But most of them have the documents scattered at different places. In the family does your spouse know about all your investments, insurances etc.

Every great factory, office has specific systems for it to run smoothly. This mostly does not happen with personal finances. Think what would happen in case something happens to the husband and wife does not know anything about his finances?

Be Organized

Its time to be more organized. Being organized has half the battle won.

You are spending some free time at home due to Lock-Down. Use this time to organize your documents and data systematically. This will help you in finding the documents when you require them.

We at Bonvista have created a simple but very effective tool for our clients to organize their persona financial data. This is a data and e-document management tool. We call this too as Wealth Bag. It has pre-defined folders and excel formats for various areas of personal finance like – Investment, Insurance, Banks, KYC, Loans, Real Estate, Income Tax, Vehicles, Date and Contacts. Each of this folder has sub-folders and excel file has different sheets.

Take your personal finances to the next level. Organize them in the Wealth Bag. Its absolutely FREE

Mention your Email Id in comment box below or send WhatsApp with word ‘Wealth Bag and your Email Id’ to 91-7447404875 and we shall mail the same to you.


Important – Financial Services in Nashik, Financial Services in Thane, Financial Services in Jalgaon, Financial Services in Pune

Leave a Reply