Senior bank manager Krutti Sundar Patra needs to cut down on expenses and save more, says Pankaj Mathpal, a Mumbai-based certified financial planner.
Cash Flow and Net Worth
Patra’s monthly income is ₹65,000, and he spends ₹37,000 per month, including the home loan EMI of ₹15,000. Another ₹15,000 a month is spent to meet the personal expenses of his dependent parents. He also pays an annual premium of ₹61,000 for his life insurance policies. According to financial planner Pankaj Mathpal, Patra should lower his budget for some of his future goals and curtail his expenses to increase his monthly savings. He should also convert his life insurance policies (except the term plan) to paid-up status to reduce premium. It will help him manage his cash flow better and save more for his future financial goals.
The total value of Patra’s financial assets is ₹9.50 lakh, out of which ₹6 lakh is invested in bank fixed deposits and ₹2 lakh is kept in a savings account. He has also put ₹1.40 lakh in equity-oriented mutual fund schemes. Patra has a self-occupied house, and its current value is ₹35 lakh. He has taken a home loan for buying the house, and the current outstanding is ₹13 lakh (see table Assets and Liabilities).
Taking Care of Essentials
Esta historia es de la edición December 03, 2017 de Business Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 03, 2017 de Business Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.