Hi Friends,

   STEPS IN PERSONAL MONEY MANAGEMENT

1. Storing and maintaining personal financial records and documents in a systematic Manner.
2. Creating personal financial statements ( Balance Sheets and Cash Flow Statements of income and outflows).
3. Creating and implementing a plan for spending and saving (budgeting), budget is the basis for effective money management.

Recommendation for proper filing

It includes:-

1. Personal and Employment Records: Birth Certificates, Passport, Resume ,Salary Certificates Employee benefits, PE, ESI, and Pension No.etc.
2. Money Management Records: Current budget, current Balance Sheet & income statement, financial needs & goals.
3. Tax Records: Income tax returns, TDS certificates, Advance Tax Deposits Receipts
4. Financial service Records: Bank statements, Cheque Book ATM card etc
5. Credit Records: Credit Cards & statements , EMI chart etc.
6. Consumer Purchase & Automobile Records: Major purchase bills, Warranties, Car Registration & Service Station no, Telephone Bills, Daily purchasing Bills
7. Housing Records: Lease or purchase record, Property tax records, Home renovation records etc
8. Insurance Records: Insurance policies ,list of premium dates, Claim reports etc
9. Investment Records: Record of stock, bond and mutual fund, certificates
10. Estate Planning and Retirement Records: Will, Pension plan information, Trust agreements etc.

          Wish you a proper paper filing!!